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In this episode, Sreeraman "SMG" Mohan Girija shares how Fynd became the retail technology backbone powering 2,300+ brands, 20,000 stores, and 20 million consumers across India. From nearly dying as a touchscreen kiosk company in 2015 to being acquired by Reliance Industries in 2019, SMG reveals the pivotal lessons about building at the transaction layer, optimizing for customers over engineering bandwidth, and why conversational commerce powered by LLMs will kill traditional e-commerce homepages. He also opens up about the brutal first year of cultural integration post-acquisition, scaling a 100-person design organization, and why Fynd is now exporting India-hardened retail infrastructure to global markets like GCC, UK, and Canada.He shared this candid journey with host Akshay Datt, exploring everything from hiring for empathy over skills to why beautiful products often fail without proper business fundamentals. If you're building in retail tech, SaaS, or preparing for AI-native commerce, this conversation is essential viewing.Key Highlights:
On Episode 800 of The Core Report, financial journalist Govindraj Ethiraj talks to T Koshy, Former MD and CEO of the Open Network for Digital Commerce (ONDC).SHOW NOTES(00:00) Stories of the Day(01:14) Anthropic says Indians are heavy duty users of its tool(03:01) Markets recover from AI scare trades(04:41) The India AI Impact Summit kicks off with interesting sessions, curation and some glitches.(11:00) How India's ONDC project is being replicated in IndonesiaRegister for India Finance and Innovation Forum 2026https://tinyurl.com/IFIFCOREFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
In this episode of Eyeway Conversation, host George Abraham speaks with Sunil, a technologist who lost his vision at a young age and went on to study computer science at IIT Jodhpur, work at Morgan Stanley, and co-found an accessibility-first startup.Sunil shares the story behind TAN App—short for The Accessible Nation—an app designed to help people with visual impairment order food, shop online, and access digital services independently and efficiently.From food delivery via ONDC and Amazon to future plans involving travel, mobility, and financial services, this conversation explores how accessibility should go beyond compliance and focus on real usability.This episode is a powerful reminder that inclusive technology is not a luxury—it is a necessity.Download the App:Play store: https://play.google.com/store/apps/details?id=com.onlyusable.usableapp&hl=en_INApp store: https://apps.apple.com/in/app/the-tan-app/id6566184214If you know someone with vision impairment who needs support, call the Eyeway Helpline: 8800 00 4334Visit: www.scorefoundation.org.in
Will We Say Goodbye to OTPs in 2026? As India enters the next authentication era, this episode of The Core Report explores whether one-time passwords are finally reaching the end of the road and what could replace them in banking, payments, and everyday digital life.In this special edition, Govindraj Ethiraj speaks with Pramod Varma, Co-Founder & Chief Architect, Networks For Humanity (NFH), Co-Creator, FINTERNET & BECKN Protocol, architect behind Aadhaar, UPI, DigiLocker, eSign, Account Aggregator, and ONDC, to unpack how India's digital public infrastructure is quietly moving beyond OTPs. From face authentication and biometrics to smartphone-based security, layered KYC, and verifiable credentials, this conversation explains why the current system feels broken and what a smarter, more inclusive model could look like by 2026.As digital scams rise and compliance burdens grow, are OTPs still the safest option or have they become a bottleneck? Why do banks still rely on paper, repeated KYC, and friction-heavy verification when India already has the technology to go fully digital? And could Aadhaar-based face authentication and app-driven cryptographic security offer a future that is both safer and easier for consumers and businesses?This episode breaks down the future of authentication in India, the shift away from OTP-based security, and what it means for financial services, digital identity, KYC reform, and ease of doing business. Essential viewing for professionals tracking fintech, policy, digital transformation, and India's evolving digital economy.Subscribe to The Core Report for conversations shaping India's business, policy, and digital economy.#OTPs #DigitalIndia #Authentication #Fintech #TheCoreReport #TheCore
In today's Tech3 from Moneycontrol, we take you through the biggest stories of the day: Netflix signs a massive $72 billion deal to buy Warner Bros Discovery's studios, Meesho's blockbuster 79X subscription as IPO frenzy sweeps the markets, Binance CEO Richard Teng says India is extremely critical for reaching a billion crypto users, and hyperlocal shakeouts hit ONDC as Pincode shuts to consumers. Plus, nationwide travel disruption as IndiGo cancels hundreds of flights.
In today's Tech3 from Moneycontrol: Indian IT services slash H-1B visa dependence by 56% in eight years even as US giants quietly lap them up. MSMEs brace for mandatory cyber audits under new CERT-In rules. ONDC extends incentives through September to keep sellers afloat as retail orders slide. Real-money gaming startup Zupee lays off 170 employees amid regulatory heat. And fintech NBFCs face shrinking profits but FY26 is filled with hope with GST cut tailwinds.
In today's episode of The Daily Brief, we cover 2 major stories shaping the Indian economy and global markets:00:04 Intro00:44 The Goenkas lose Zee09:45 ONDC's tough road19:43 TidbitsWe also send out a crisp and short daily newsletter for The Daily Brief. Put your email here and we'll make you smart every day: https://thedailybriefing.substack.com/Note: This content is for informational purposes only. None of the stocks, brands, or products mentioned are recommendations or endorsements.
"When UPI happened, it was like, very clear now, this is something that will change everything." This powerful statement from Deepak Chand Thakur encapsulates the monumental shift the Unified Payments Interface has brought to India's financial landscape. It wasn't just another payment system; it was a revolution that reshaped commerce, financial access, and technological innovation —a revolution that Deepak and NPST have been at the heart of. Deepak Chand Thakur is the Co-Founder and Chief Executive Officer (CEO) of Network People Services Technologies Ltd. (NPST). He has guided NPST from a bootstrapped startup to a publicly listed entity on the mainboards of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Under his leadership, NPST achieved FY24 revenues of ₹130.08 crore, a 216% year-on-year increase, and a net profit surging by 310% to ₹26.71 crore. The company's SME IPO in 2021, which Deepak recounts was valued at ₹50 crore, saw it deliver approximately 9000% returns to its early investors and reach a peak market capitalization of around ₹5000 crore. Key Insights from the Conversation:
In today's Tech3 from Moneycontrol, we dive into the silent churn in India's venture capital scene as mid-level VCs quietly switch firms. Next, we look at how NIXI is strengthening India's digital backbone amid rising cyber threats. Plus, Apple bucks the smartphone slowdown with rising iPhone sales, Uber hops on ONDC for Delhi Metro bookings, and Bengaluru battles floods once again.
On Episode 574 of The Core Report, financial journalist Govindraj Ethiraj talks to Indrani Bagchi, Chief Executive Officer, Ananta Centre as well as R.S. Sharma, the former Director General of the Unique Identification Authority of India (UIDAI), and current Chairperson of both ONDC and the Algorand India Advisory Board.SHOW NOTES(00:00) Stories of the Day(00:50) The markets show surprising resilience(04:03) Asian currencies are charting new and unexpected paths(08:15) India and UK announce a much-delayed Free Trade Agreement, dramatic customs reductions in some products may be coming(11:29) Build on BlockchainListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
In today's episode on 5th May 2025, we look at how far ONDC has come since it began and what went wrong with the food delivery revolution it promised.
In today's Tech3 from Moneycontrol, Apple ramps up manufacturing in India with Foxconn and Tata Electronics leading the charge. We dive into why the National Restaurant Association has paused onboarding to ONDC amid leadership churn. Plus, Ather Energy's IPO sees full subscription, startup valuations take a hit with down rounds making a return. Tune in for latest updates on tech and startup world.
In today's episode, SEBI Chairman Tuhin Kanta Pandey opens up on IPO reforms, investor protection, and the future of market regulations. We also decode Apple's major production shift to India, the return of Mukesh Ambani to the $100 billion club, and Coldplay's surprising ₹641 crore economic impact. Plus, updates on US-India trade talks and NRAI's ONDC retreat. All this and more in today's episode.
In today's Tech3 from Moneycontrol, we dive into the UPI outage over the weekend, exploring the root cause and the NPCI's response. We also discuss ONDC's declining retail share and its shift towards mobility. Plus, Andhra Pradesh's penny land deal with TCS and Lendingkart's leadership shake-up as they appoint a new CEO. Lastly, we explore Bezu's AI companions providing emotional support to users. Tune in for the latest in tech and startup news!
In today's Tech3 from Moneycontrol, ONDC CEO Thampy Koshy resigns, marking a major leadership shakeup at India's e-commerce disruptor. TCS delivers a lower-than-expected results with dip in net profit, Wakefit gears up for a Rs 2,000 crore IPO, joining the wave of startups eyeing public markets. Meanwhile, Flipkart Minutes plans to scale quick commerce with 800 dark stores by 2025. Tune in for the top tech and startup stories.
In today's Tech3 episode, we unpack the government's new Rs 1,500 crore UPI incentive and its impact on Fintech, Google's record-breaking $32 billion acquisition of cloud security startup Wiz and how it is making waves, ONDC's rise, AI-powered tools from Adobe, plus Icertis' fresh funding round. Tune in for all this and more, every Monday to Friday.
| Episode #44 Reach more customers through ONDC Ft. Nilay Patel, Founder – Easy Pay Welcome back to MSME TALK® Brand Bite. MSME TALK® Brand Bite brings brands products, services showcase relevant for Micro enterprises, SMEs, startups, businesses to scale up and build long-lasting Businesses. Join Whatsapp Subscribe to MSME TALK® Newsletter and Alerts List your Product, Services on MSME TALK® ONDC is creating ripples in the digital discovery of products and is already doing crore of transactions. MSME Sellers cannot miss this. This episode on ONDC highlights how MSME sellers can unlock new growth opportunities by connecting with a broader customer base and how Easy Pay can help you in this process. Sections 00:00:00 Episode Content ahead and Easypay Intro 00:01:30 About Easy Pay background & role in serving 2.5 million MSMEs so far 00:03:40 Founders Background 00:04:52 Understanding ONDC for Sellers 00:08:30 ONDC vs Existing dominant Ecommerce Platforms 00:11:38 Benefits for Sellers on ONDC 00:13:01 Cost Advantages of ONDC00:15:20 What about advertisement cost to rank higher? 00:16:41 Interoperability Explained00:19:10 How Artisans are using ONDC 00:19:55Discovery in hyperlocal vs Entire country works on ONDC ?00:22:46 Which Businesses should register on ONDC 00:24:00 Is OTT also there on ONDC? 00:24:30 Frauds, Transparency, Fair Practices? 00:27:09 Role of Easy Pay in ONDC00:28:50 Different TSPs on ONDC 00:29:40 Advantages for MSMEs Sellers by using Easy Pay as ONDC onboarding platform 00:32:55 Onboarding Process for MSMEs 00:34:10 Support System for MSMEs00:38:00 Current statistics of ONDC 00:40:30 Logistics and other Collaboration 00:42:00 Future of ONDC 00:43:40 Fastest Way to Onboard with Easy Pay00:44:50 What's happening at Nilays home ?00:48:45 Message for Audience MSME TALK, brings relevant and valuable industry insights, informative topics, value-added content, and showcases of products and services for MSMEs and startups. MSMEs & startups are looking for various kinds of supports & upgrade. Are you a Product, Service Provider, Expert, Advisor, Consultant, Mentor for MSMEs/Startups? Reach out to MSME TALK to list your business. Fill the form to help us reach out to you. Hey MSME TALK listeners! Hope you have not missed subscribing to our newsletter for the latest news, blogs, and podcast updates. We don't spam your inbox , hence we have highest rate of letter opening in Industry. Subscribe here for Newsletter. MSME TALK Podcast enters Peak Ranking Chart of 20+ Countries in the Apple Podcast Country Entrepreneurship Category. WhatsApp : Send hi - https://wa.me/918097665085 LinkedIn Facebook Instagram Twitter Website Contact us : connect@msmetalk.comClick to All Social Media , Podcast etc links at one place Please give your rating and reviews on apple podcast or Spotify
We've unlocked this episode for our Basic and Free subscribers for a limited time. Listen to it on your favourite streaming platform for a limited time.The government has played a pivotal role in establishing and promoting Digital Public Goods(DPG) and Digital Public Infrastructure(DPI) in the past decade and a half, and there have been few which have been integral in our daily lives in more ways than one.The reason why these solutions exist is plain and simple: There emerged companies which disrupted the landscape of finance, commerce, mobility and a whole lot of other aspects of our lives, but as they gained prominence they also started to play by their own rules.The regulator was not able to act fast enough in most cases to keep things in check. So the government intervened and helped establish and promote solutions which would keep things in check and protect the interests of all the parties involved.Some solutions literally changed the way our day to day lives are, and created businesses which are built on top of these solutions. Think UPI, ONDC or Bharat Connect(formerly known as Bharat Bill Payment System).In addition to creating and shaping these systems or frameworks or protocols, these government-backed players or GBPs, as we referred to them in this episode, also became a competitor on what they had helped build, which begs the question: what kind of system does this shape up to be?In episode 15 of Two by Two, hosts Rohin Dharmakumar and Praveen Gopal Krishnan sit down with Anupam Manur, Professor of Economics at The Takshashila Institution, to break down the interventionist solutions championed by the government. From UPI and ONDC to the Unified Lending InterfaceEpisodes referenced:Google Pay: Big. Successful. VulnerableStories referenced:You need to download Digiyatra again. But it's less about a tech upgrade and more about a scamRBI is competing with its regulated entities — and killing competitionThis episode of Two by Two was researched and produced by Hari Krishna. Rajiv CN, our resident sound engineer, mixed and mastered this episode.New episodes are released every Thursday. So follow the show wherever you get your podcasts and tell us what you think of the show.Write to us at twobytwo@the-ken.com, and tell us what you thought of the episode.
We've unlocked this episode for our Basic and Free subscribers for a limited time. Listen to it on your favourite streaming platform for a limited time.Ola and Uber are in a “late-stage duopoly”.After spending billions and billions of dollars, they have finally secured pole positions in ride-sharing in India.Both of these companies together control 70% of the market and they have created network effects that make it much harder for anyone to enter and compete with them.However, this particular situation is facing some new challenges and just like how Uber and Ola conquered city after city using a disruptive model and technology, the same thing threatens to happen to them.Ola and Uber are facing structural disruptions from multiple fronts in India.In today's episode, hosts Praveen Gopal Krishnan and Rohin Dharmakumar try to answer how the disruptors are getting disrupted by upstarts who are coming in with both business model innovation and newer fleets which offer a significantly better experience, which was the original promise of Ola and Uber as well.So what is the next stage of disruption in ride-hailing look like in India? Is it EV fleets? Is it democratized tech-enabler platforms like ONDC which enables platforms like Nammayatri? Are we looking at the return of local taxi operators? And most importantly, what should Ola and Uber do to defend their position as new incentive models are introduced for both drivers and passengers?Welcome to episode 14 of Two by Two.Joining the hosts for the discussion are Nilesh Sangoi, CIO of Fincare Small Finance Bank, previously CEO of Meru Cabs; Pradeep Puranam, Head of Revenue and Operations at Yulu, ex-Udaan and -Uber; and returning guest Professor Srinivasan R, who teaches Strategy at IIM Bangalore.Episode referenced:Will Flipkart become Phonepe before Phonepe becomes Flipkart?Stories referenced:Rapido rips up the Uber-Ola playbook for cabsThis episode of Two by Two was researched and produced by Hari Krishna. Rajiv CN, our resident sound engineer, mixed and mastered this episode.New episodes are released every Thursday. So follow the show wherever you get your podcasts, and tell us what you think of the show.Write to us at twobytwo@the-ken.com, and tell us what you thought of the episode.
What happens when the government plays the role of regulator, policymaker, and operator?The government has played a pivotal role in establishing and promoting Digital Public Goods(DPG) and Digital Public Infrastructure(DPI) in the past decade and a half, and there have been few which have been integral in our daily lives in more ways than one.The reason why these solutions exist is plain and simple: There emerged companies which disrupted the landscape of finance, commerce, mobility and a whole lot of other aspects of our lives, but as they gained prominence they also started to play by their own rules.The regulator was not able to act fast enough in most cases to keep things in check. So the government intervened and helped establish and promote solutions which would keep things in check and protect the interests of all the parties involved.Some solutions literally changed the way our day to day lives are, and created businesses which are built on top of these solutions. Think UPI, ONDC or Bharat Connect(formerly known as Bharat Bill Payment System).In addition to creating and shaping these systems or frameworks or protocols these Government-Backed Players or GBPs, as we referred to them in this episode also became a competitor on what they had helped build, which begs the question what kind of system does this shape up to be?In episode 15 of Two by Two, hosts Rohin Dharmakumar and Praveen Gopal Krishnan sit down with Anupam Manur, Professor of Economics at The Takshashila Institution, to break down the interventionist solutions championed by the government. From UPI and ONDC to the Unified Lending InterfaceTwo by Two is also a newsletter, where every Friday short storified version of the latest episode is sent out to subscribers for free. You can sign up for the Two by Two Newsletter here.This is a short 'highlights only' episode of a 90 minute long discussion. The full episode is available to Premium subscribers of The Ken and on Apple Podcasts via a standalone subscription.Episodes referenced:Google Pay: Big. Successful. VulnerableStories referenced:You need to download Digiyatra again. But it's less about a tech upgrade and more about a scamRBI is competing with its regulated entities — and killing competitionThis episode of Two by Two was researched and produced by Hari Krishna. Rajiv CN, our resident sound engineer, mixed and mastered this episode.New episodes are released every Thursday. So follow the show wherever you get your podcasts and tell us what you think of the show.Write to us at twobytwo@the-ken.com, and tell us what you thought of the episode.
Ola and Uber are in a “late stage duopoly”.After spending billions and billions of dollars, they have finally secured pole positions in ride sharing in India.Both of these companies together control 70% of the market and they have created network effects that make it much harder for anyone to enter and compete with them.However, this particular situation is facing some new challenges and just like how Uber and Ola conquered city after city using a disruptive model and technology, the same thing threatens to happen to them.Ola and Uber are facing structural disruptions from multiple fronts in India.And in today's episode hosts, Praveen Gopal Krishnan and Rohin Dharmakumar try to answer how the disruptors are getting disrupted by upstarts who are coming in with both business model innovation and newer fleets which offer a significantly better experience, which was the original promise of Ola and Uber as well.So what is the next stage of disruption in ride-hailing look like in India? Is it EV fleets? Is it democratized tech-enabler platforms like ONDC which enables platforms like Nammayatri? Are we looking at the return of local taxi operators? And most importantly, what should Ola and Uber do to defend their position as new incentive models are introduced for both drivers and passengers?Welcome to episode 14 of Two by Two.Joining the hosts for the discussion are Nilesh Sangoi, CIO of Fincare Small Finance Bank, previously CEO of Meru Cabs; Pradeep Puranam, Head of Revenue and Operations at Yulu, ex-Udaan and -Uber; and returning guest Professor Srinivasan R, who teaches Strategy at IIM Bangalore.Two by Two is also a newsletter, where every Friday a short storified version of the latest episode is sent out to subscribers for free. You can sign up for the Two by Two Newsletter here.(Listen to the free highlights only episode on Spotify, Amazon Music, YouTube or wherever you get your podcasts)Episodes referenced:Will Flipkart become Phonepe before Phonepe becomes Flipkart?Stories referenced:Rapido rips up the Uber-Ola playbook for cabsThis episode of Two by Two was researched and produced by Hari Krishna. Rajiv CN, our resident sound engineer, mixed and mastered this episode.New episodes are released every Thursday. So follow the show wherever you get your podcasts and tell us what you think of the show.Write to us at twobytwo@the-ken.com, and tell us what you thought of the episode.
ONDC கடனாளியாக்குமா? | Gold Bond | Zomato Legends In Episode 5 of The Imperfect Show - Finance, join Imperfect Show fame Cibi and Financial Expert Va Nagappan as they dive into the latest financial topics: ONDC's Impact: Will the Open Network for Digital Commerce (ONDC) create financial burdens for businesses, or is it a revolutionary shift in commerce? Gold Bonds: A detailed analysis of Gold Bonds—are they a smart investment choice for you? Zomato Legends: Exploring Zomato's latest move—what does it mean for the food delivery market? Get expert insights and stay ahead in the financial game with this episode, exclusively on Spotify! #TheImperfectShow #Finance #ONDC #GoldBond #ZomatoLegends #Podcast #Cibi #VaNagappan
In this special episode, we hosted a very esteemed guest Dr.Pramod Varma, the Former Chief Architect Aadhaar, UPI, & India Stack, CTO EkStep Foundation, Co-Chair CDPI.dev, Co-Founder FIDE.org. He played an integral role in architecting India's digital health infrastructure, vaccination and immunization infrastructure (Co-WIN & DIVOC). He is the Co-Founder of FIDE, co-creator of the open source Beckn Protocol, the base protocol for India's new efforts such as Open Network for Digital Commerce (ONDC.org), Kochi Open Mobility Network, Namma Yatri, and ONEST.He is an advisor to Unique Identification Authority of India (UIDAI), National Payment Corporation (NPCI), Goods and Services Tax Network (GSTN), National Health Authority (NHA), Securities and Exchange Board of India (SEBI), Open Network for Digital Commerce (ONDC), Turing Institute Identity Initiative in the UK. Pramod holds a Master's and Ph.D. degree in Computer Science along with a second Master's in Applied Mathematics. He is passionate about technology, science, society, and teaching.In this podcast episode we spoke about the below topics, dive in:0:00 - Journey of Aadhaar's Chief Architect10:45 - The Impact of Aadhaar on India26:45 - India's role as Global Leader in Technology35:43 - The Role of AI in India40:30 - Tips for Indian EntrepreneursEnjoyed the podcast? Please consider leaving a review on Apple Podcasts and subscribe wherever you are listening to this.Follow Prime Venture Partners:LinkedIn: / primevp Twitter: / primevp_in This podcast is for you. Do let us know what you like about the podcast, what you don't like, the guests you'd like to have on the podcast and the topics you'd like us to cover in future episodes.Please share your feedback here: https://primevp.in/podcastfeedback
It's been over a year since the govt launched Open Network for Digital Commerce (ONDC). The idea was to build the world largest e-commerce platform to check the monopoly of giants like Amazon and Flipkart. From ride-sharing and food delivery, to groceries, the platform can be used to buy and sell anything.The platform is close to hitting the 50 million transactions mark now. And what stands out about it is its fascinating pricing strategy that makes ordering food on it as much as 45% cheaper than a Swiggy or a Zomato. Could ONDC make the two food delivery giants redundant?While there is no easy answer to the question, what made us more curious was this: Do we want ONDC to win? And if it does then what could be the consequences?Tune in to find out.Daybreak is produced from the newsroom of The Ken, India's first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
Can innovative technologies like India Stack truly pave the way for a digital-first economy? In a rapidly digitising world, how do initiatives like Aadhar and PMJDY redefine notions of financial inclusion? As India progresses in digital innovation, what unforeseen sectors might be revolutionised by the ripple effects of initiatives such as ONDC and UPI? Join us for the third episode of our series with Neelkanth Mishra, part-time Chair of India's UIDAI project and one of India's leading economists, as we delve deeper into India's shift towards a digital-first economy and showcase the innovative India Stack's pivotal role. Chapters: 00:00:00 - 00:01:10 Episode Introduction 00:01:10 - 00:22:26 What is ‘India Stack' and how are we feeling its impact? 00:22:26 - 00:24:08 How has India Stack influenced the digital infrastructure of other countries? 00:24:08 - 00:32:50 Neelkanth dissects the features and intricacies of Indian fintech initiatives 00:32:50 - 00:44:11 How are the Indian government and its stakeholders enhancing and expanding India Stack? 00:44:11 - 00:53:57 Neelkanth elaborates on how GST is empowering the growth and success of India Stack 00:53:57 - 00:58:35 How has GST helped in boosting India's economy? 00:58:35 - 01:12:18 The formation, functioning, and future outlook of ONDC 01:12:18 - 01:19:41 Neelkanth talks about current inefficiencies and prospective future of India Stack
Unified Healthcare Interface (UHI) is India's next digital public infrastructure (DPI), following earlier DPIs in payments (UPI), commerce (ONDC) and credit (OCEN). In this episode, Shrikrishna Upadhyaya speaks to Rhea Singh (Project Lead, ABDM, NHA) and Akhil Siddharth (Project Associate, NHA) from the International Innovation Corps on the potential of UHI, challenges and opportunities. They discuss how UHI will transform the healthcare experience of patients, enable innovation by private players and create new digital governance architecture. Do check out Takshashila's public policy courses: https://school.takshashila.org.in/courses We are @IVMPodcasts on Facebook, Twitter, & Instagram. https://twitter.com/IVMPodcasts https://www.instagram.com/ivmpodcasts/?hl=en https://www.facebook.com/ivmpodcasts/ You can check out our website at https://shows.ivmpodcasts.com/featured Follow the show across platforms: Spotify, Google Podcasts, Apple Podcasts, JioSaavn, Gaana, Amazon Music .Do share the word with your folks See omnystudio.com/listener for privacy information.
Happy New Year— RSJHappy 2024, dear readers! We hope 2023 was good for all of you. If it wasn't, we are glad that it's behind you. We didn't have too bad a 2023 ourselves. This newsletter went along swimmingly (or so we think) and we had our book ‘Missing in Action: Why You Should Care About Public Policy' published on 23 January 2023. Why haven't you bought it yet? Anyway, it seems to be doing well based on the modest expectations we had of it. I'm yet to see the pirated versions of it peddled at traffic signals. Heh, that will be the day. But then I see it on shelves of all decent bookstores and that's quite reassuring. That apart, Pranay had another book (one productive chap, I tell you), When The Chips Are Down on semiconductor geopolitics which is an area that's going to get more interesting and contentious in this decade. All in all, we ended up writing 44 editions during the year totaling up to over a hundred thousand words. A good year, I guess.On to 2024 then. Like in the past, we will indulge ourselves a bit in the first edition of the year. First, looking back at our predictions for 2023 and seeing how badly off we were and then next week, I will be doing a bit of crystal ball gazing for 2024.Before I bore you with that, let me share with you this wonderful excerpt from a paper I read recently. Titled ‘Enlightenment Ideals and Belief in Progress in the Run-up to the Industrial Revolution: A Textual Analysis', it covers an area of eternal fascination for me - Enlightenment and its impact on Western Europe. Interesting conclusions and a must-read:“The role of cultural attitudes—specifically, of Enlightenment ideals that had a progress oriented view of scientific and industrial pursuits—in Britain's economic takeoff and industrialization has been emphasized by leading economic historians. Foremost amongst them is Joel Mokyr (2016), who states that the progress-oriented view of science promoted by great Enlightenment thinkers, such as Francis Bacon and Isaac Newton, among many others, was central to what would become the “Industrial Enlightenment,” and ultimately Britain's Industrial Revolution. In this paper, we test these claims using quantitative data from 173,031 works printed in England in English between 1500 and 1900. A textual analysis resulted in three salient findings. First, there is little overlap in scientific and religious works in the period under study. This indicates that the “secularization” of science was entrenched from the beginning of the Enlightenment. Second, while scientific works did become more progress-oriented during the Enlightenment, this sentiment was mainly concentrated in the nexus of science and political economy. We interpret this to mean that it was the more pragmatic works of science—those that spoke to a broader political and economic audience, especially those literate artisans and craftsmen at the heart of Britain's industrialization—that contained the cultural values cited as important for Britain's economic rise. Third, while volumes at the science-political economy nexus were progress-oriented for the entire time period, this was especially true of volumes related to industrialization. Thus, we have unearthed some inaugural quantitative support for the idea that a cultural evolution in the attitudes towards the potential of science accounts in some part for the British Industrial Revolution and its economic takeoff.”2023 Predictions ScorecardI had 8 predictions across the global economy, Indian economy and Indian social and political order. So, this is how does the 2023 report card looks like.Global EconomyThis is what I had written:#1 The trend of securing your supply chain for critical products will get stronger.….but it is clear to most large economies that on issues that concern national security, it will be foolhardy to not plan for worst-case scenarios any longer. And national security could mean anything, really, but I can see on energy and key technology, nations will opt for more secure supply chains with watertight bilateral partnerships than be at the mercy of distributed, multilateral chains. I won't go as far as calling it ‘de-globalisation' yet, but this ‘gated globalisation' is a trend that's here to stay.This is playing out but a bit slower than what I expected. Disentangling and building domestic capabilities isn't easy. And it is costly. But through the year we had increasing curbs on what hi-tech (GPU chips, AI research) and defence companies domiciled in the West could export to China. At home, we continued the push on PLI on electronics and tech equipment with debates on how much value-added manufacturing is really coming through in these schemes. Also, interestingly, we are continuing down the path of decoupling from global ‘default platforms' especially in financial services. The Rupay platform is continuing to get bigger with a specific push from the government to derisk payment infrastructure from global networks like Visa and Mastercard. Also, in a recent statement, the central bank has suggested building a homegrown Cloud Computing infrastructure that will be used on regulated entities in India so that they aren't tied into global Cloud service providers. #2 The fears of elevated inflation and a recession in the US in 2023 are overblown. The recession is due, but it will come a bit laterMy view is that as supply chain issues ease up with China opening up, energy demand going up and the US continuing to be at almost full employment, we might have a 2023 where for the most part, the US inflation will be higher than target, Fed will continue to remain hawkish, and the growth will hold up. This will mean the real risk of recession will be more toward the end of the year than now.Turns out I was accurate. In fact, the US economy has held up even better than I expected. And the Fed almost softened their tone by their last meeting of the year.#3 Big Tech will continue to be under the coshI half expect India to gradually move all payment and eCommerce arms of Big Tech into a structure that's domestically controlled and owned in 2023. Third, FTC, with Hina Khan at the helm, will accelerate antitrust and competition law changes to reduce the dominance of Big Tech.I think I got this right in a big way. Through the year, fintechs have offloaded ‘troublesome' shareholders (read Chinese investors) and there is a real trend of what's called ‘reverse flipping' where unicorns that were domiciled outside of India for tax and regulatory reasons are coming back home. Reason? Well, if you ask them they will tell you because they believe in the India story. That's very convenient. The real reason is domestic regulators are making it difficult for a non-domiciled company to get a full bite of the Indian apple. From data security and storage requirements to tax and fund transfer regulations, the entities that are essentially Indian but are registered outside India to avoid ‘regulatory inconvenience' are now facing business inconvenience in following that model. Here's more on this. Indian EconomyI think I wrote more about the Indian economy in 2023 than any previous year. Much of it was about my surprise, in a positive way, on how much better it was doing than my expectations. Now as I read what I had written at the start of 2023, I think I had somewhat forgotten during the year that I was quite optimistic about the economy at the start of the year. Here's what I had written:#1 Greater optimismI am a bit more optimistic about the broader numbers than most, and I will explain why. I think GDP growth will come in around 6.5 per cent for FY24, and inflation will be around 5 per cent. We might see a couple of rate hikes in the next few months, taking the repo rate to 6.75 per cent, but that will be it. I see domestic consumption to remain strong and exports, in the light of the shift away from China, to be good for manufacturers, and how much ever I might struggle to get behind the PLI scheme, it will yield some short-term benefits. IT exports might be a dampener, but on balance, I see more upside to these predictions.Couldn't have gotten it more right. I think the growth for FY 24 might come in at 7 per cent. Repo ended up at 6.5 per cent and domestic consumption and manufacturing have stayed strong while IT exports have gone worse over the year. #2 Digitalisation: Wave 2There will be a significant push on digitalisation in lending and eCommerce. The UPI infrastructure has revolutionised payments and, along with GST, has accelerated the formalisation of the economy..... Also, as I mentioned in an earlier point, doing this will also mean shifting the balance of power from Big Tech-owned entities to an open platform or domestically controlled entities. I sense a strong push in this direction in 2023.This was a no-brainer, really. I expected a bit more traction on platforms like OCEN and ONDC which haven't taken off yet. The digitisation of the financial services sector has made low-value credit much easier for people to access. And UPI and digital KYC have enabled that to an extent that unsecured individual lending saw its biggest year ever in 2023. In fact, by the end of the year, we saw the central bank intervening to increase risk weights on these advances for banks and NBFCs and trying to bring down growth rates. The risk of an asset bubble because of faster and easier access to credit seems to become real based on the data they were reading. #3 The expected capex cycle push from the government will not come.There are a couple of reasons for it. First, this government has always been careful about fiscal deficit, and it is particular about the risk of the fiscal space. The government has committed to a 4.5 per cent target for the union government deficit in the next 3 years from the current levels, that's expected to be 6.4 per cent. I see a tightening in the fiscal stance during the year with a gradual reduction in some of the pandemic-related subsidies and better targeting of the benefits improving distribution efficiency. The other reason for a muted capex spend is the likely belief that the private sector credit capex cycle seems to be picking up. Got it mostly right except for the private sector capex cycle bit. That didn't show up in 2023 as I was expecting. Government capex actually slowed as it kept its glide path to a 4 per cent union deficit by 2026. The efficiency improvement in tax collections and subsidy disbursement also helped in broadly sticking to the fiscal plan for the year. And as I expected, this government doesn't need to loosen its purse strings in an election year. It has multiple other tools in its armoury to swing people's opinion in favour of it. India: Political and SocialI had generally anticipated a more-of-the-same year despite some of the noise surrounding opposition efforts at the start of 2023. BJP with PM Modi at the helm, is possibly the most formidable political force in the world and it can turn its missteps too into its advantage. We saw this during the pandemic when its response was poor and too late. But that's all water under the bridge now. It is also helped by a coincidence of circumstances where China has gone off-track and India is able to play its ‘swing power' role to its fullest advantage in global geopolitics. All of this has meant it has a compelling domestic narrative to offer to the people of India rising in global prominence. This has tremendous capital at least among the middle class and the Hindi heartland. Back to what I wrote at the start of the year:#1 More of the sameThe expected consolidation of opposition forces to counter the BJP isn't going to happen early enough for it to mount a credible challenge in 2024. There are eight state elections in 2023, and I suspect BJP will see reverses or very close fights in a couple of them where it is the incumbent (MP and Karnataka)....But it is hard to see opposition consolidation or a credible case that they can make to counter the electoral juggernaut of the BJP at this time. Congress, the other national party, isn't capable of moving the masses either with its agenda or its leadership. The vacuum in national politics looks set to stay.Ho hum. BJP lost Karnataka like I thought they would. MP was a surprise and it only shows how poorly Congress has performed through the year. Everything else is, as they say, same same.#2 More Exit, Less VoiceI have made the point in the past about social fault lines tripping us up while we magically have a growth window that's opened up for us again. This holds true. The space for opposition or dissent has shrunk; more importantly, even the fight for protecting or broadening that space has gone out....The state would be dependent on citizens if they value their loyalty and would then pursue a policy that listens to their voice. However, if the state doesn't value it and the citizens know their voice won't matter, the only option is to exit. For certain sections of our citizenry, they are possibly at this stage of engagement with the state. This scenario might not hurt the majority today, but we would do well to remember it has never been a good idea for the state to not value the loyalty of its citizenry in the long run. Nothing has changed on this. I guess this macro trend has only exacerbated in 2023.So there I am with my report card. Not too bad, I guess though Pranay may again complain that these were quite generic and unless we make very specific predictions, it all seems to come true at the end of the year. Well, I will try to do that next week with my 2024 predictions. But don't hold your breath on that, Pranay. A Framework A Week: Four Components of an Economic StrategyTools for thinking about public policy— Pranay KotasthaneMontek Singh Ahluwalia writes that any economic strategy has four components: slogans, targets, programmes, and policies. Slogans refer to rhetoric employed by the government. Ahluwalia calls it the “front end” of economic strategy. Rhetoric is necessary in a representative democracy for communicating the government's position on an issue in a simple, catchy form without going into the details of the accompanying policy measures. Think Garibi Hataao, Shining India, Inclusive Growth, Sabka Saath Sabkaa Vikaas, and Minimum Government and Maximum Governance. Targets are specific, measurable goals of an economic strategy. An example is the articulation that India will become a developed country by 2047. The World Bank comes up with a GDP per capita threshold for classifying an economy as a high-income one. So the target becomes a guiding light for policies and programmes and also serves as a tool for holding the government accountable.Programmes refer to government-led measures involving public expenditure. Policies are government directives that allow or disallow specific economic activities. The difference can be understood using another popular three-fold classification which says that all governments do only three things — produce, finance, and regulate. This means programmes are government actions that involve producing or financing, while policies are about regulating. For example, bank recapitalisation is a programme where the government is financing public sector banks. In contrast, the Foreign Trade Policy 2023 lays down the rules that govern all exports and imports. This four-fold classification is useful for policy analysts for two reasons. One, it doesn't look at slogans cynically. Economic narratives are important. Slogans are often launchpads for powerful narratives.Secondly, differentiating policies from programmes is crucial. The default government tendency is often to bat for government-run programmes. Think Production-linked Incentives (PLI) and export subsidies. There are enough and more programmes from the past to tinker with and regurgitate them into a new programme to “solve” the economic problems of the day. However, chronic economic problems might need a fundamental change in policies that cannot be fixed by programmes alone. India's manufacturing underperformance is one such example. Though there have been many a programme for overcoming this challenge, the solution lies in changing trade, tax, labour, and doing business policies. Another example comes from the 1991 economic reforms. At the time, many politicians thought that India only needed a debt restructuring programme. However, the reformers successfully argued that India needed a change in tax, business, and investment policies; a new programme alone wasn't good enough. For an illustration of this framework, check this article by Montek Singh Ahluwalia on the problem with India's public sector banks.PolicyWTF: Screws are Strategic This section looks at egregious public policies. Policies that make you go: WTF, Did that really happen?— Pranay KotasthaneThe Department to Ground Foreign Trade, or less accurately, the Directorate General of Foreign Trade (DGFT), is a gift that keeps giving. Their latest policy move is to restrict the import of cheap screws so that India can become a self-reliant vishwaguru of screws. A screwpower, maybe? In a notification issued on 3rd Jan, the DGFT banned the imports of screws priced lower than ₹129/kg. Indian manufacturers used to import these from France, China, Australia, Bangladesh, Brazil, and Belgium.So, the government wants to do an import substitution of a humble product that costs ₹129 per kg and already has a diversified supply chain. If this isn't ridiculous enough, think about the impact on Indian manufacturers who relied on these imports. They are the ones getting screwed here because they will end up paying more for the same product. Long-time readers might experience déjà vu as there was a similar policy restricting the imports of mosquito electronic racquets in 2020, to which RSJ had paid proper obeisance in edition #129. In other news, one of the issues blocking the India-UK FTA is that Indian EV car manufacturers don't want the high import duties to be dropped. Currently, electric cars priced above $40000 are slapped with a 100 per cent import duty, while those below $40000 are levied a 70 per cent duty. Domestic manufacturers argue that a reduction in import duty will stall the sunrise industry. These two stories in recent months illustrate the slippery slope of industrial policy in low state capacity conditions. A domestic subsidy for manufacturers can still be justified because every other country is doing that. It's become an entry pass of sorts to play the manufacturing game. But to couple domestic production subsidies with import restrictions makes these policies scarily close to the import substitution regime in the pre-1991 era. Every government makes mistakes. However, low state capacity results in governments repeating the mistakes of the past as there is no institutional memory. We seem to be reaching that point with India's industrial policies. This observation also stands empirically. Check out the New Industrial Policy Observatory (NIPO) released by the IMF (hat-tip to Niranjan Rajadhyaksha for sharing the accompanying paper on X). The database classifies industrial policy actions over the last few years into eight categories: export barriers, import barriers, domestic subsidies, export incentives, FDI measures, Public procurement measures, Localisation content measures, and miscellaneous. This is by far the most detailed database of industrial policy measures I've seen—a fantastic tool for scholars working in economic policy.Now here's my initial analysis looking at the data for India in NIPO. Of the 195 industrial policy measures that India has taken, 55 are distortionary trade measures, illustrating that we are repeating import substitution ideas of the past. There's more to this. In the database, one can also classify industrial policies sectorwise. Here again, we see that import tariffs feature across most sectors. Such mindless import substitution will lead to export contraction, as Indian companies become uncompetitive and bow out of international competition. We have seen this movie before.P.S.: Look at this chart of trade as a per cent of GDP for the world's five largest economies. Trade is a higher proportion of India's GDP than is the case for Japan and China. It's been that way for the last ten years. Trade is far more important to India than we realise. HomeWorkReading and listening recommendations on public policy matters* [Book] Vivekananda: The Philosopher of Freedom is a thoroughly enjoyable, myth-busting biography. * [Blogpost] This post has a mind map of market failures and corresponding government interventions. A boon for anyone interested in public policy.* [Podcast] Listen in to a Puliyabaazi with economist Rohit Lamba on India's future economic trajectories. This is a fun episode. * [Paper] A useful take on Foreign Trade Policy 2023 in Economic and Political Weekly. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
In this episode of The Startup Operator Roundup, Gunjan and Roshan break down the week's startup news and more! If you liked this episode, let us know by hitting the like button and share with your friends and family. Please also remember to subscribe to our channel and switch on the notifications to never miss an episode! 00:00 Intro02:20 Google's Gemini to take on GPT-408:14 Byju's liquidity crisis12:57 ONDC's new initiative 15:25 RBI's regulatory framework 18:27 Zestmoney shuts down 20:37 Zerodha's insane growth 25:00 Fund Raises of the week ------------------------------------- Subscribe to our WhatsApp community for regular updates:https://www.whatsapp.com/channel/0029VaA80HPIN9ixCWykZO1C ------------------------------------- Connect with Us: Linkedin: https://www.linkedin.com/company/startup-operator/Twitter: https://twitter.com/OperatorStartup ------------------------------------- If you liked this episode, let us know by hitting the like button and share with your friends and family. Please also remember to subscribe to our channel and switch on the notifications to never miss an episode!
This week's episode is about India's spending habits, ONDC & building 10club… as we welcome Bhavna Suresh, founder of 10club, to the Neon Show!How Is ONDC Impacting the E-Commerce Market?Is There A Bias Towards Women CEOs In India?How Much Has Entrepreneurship CHANGED In India?All these TRENDING topics and more in this CAPTIVATING conversation. A deep dive into what makes ONDC such a force to be reckoned with in the e-commerce industry & how Bhavna Suresh is leading the charge for home decor in India… Tune in NOW!Shot By: Aravindh YuvarajCheck his profile out here: / createdby.aravindhyuvaraj Sponsor Shout OutLooking to build a differentiated tech startup with a 10X better solution? Prime is the high conviction, high support investor you need. With its fourth fund of $120M, Prime actively works with star teams to accelerate building great companies.To know more, visit https://primevp.in/!
Pop Quiz - Have you heard of Kudumbashree? Or Cauvery Handicrafts? What about Biswa Bangla? If you are at a loss, you are missing the ONDC bus. Kudumbashree (Kerala Emporium) deals in Pickles, Honey and other Gourmet foods. Cauvery Handicrafts deals in wooden crafts like Channapatna toys, Rosewood paintings and jewellery. Biswa Bangla is famous for its collection of Darjeeling Teas and Sundarban Honey. All of them are reaching new markets, new consumers at cheaper cost and loving it. And this is not even the beginning. ONDC is driving India's e-commerce revolution coupled with lasting social impact. 13+ Social Enterprises like Very Much Indian, House of Chikankari, Shwet, Katori, Tamul, and Iraaloom alone impact 200,000 artisans via ONDC. Our guest Shireesh Joshi, the COO of ONDC, tells us why the world is looking to India to see another UPI moment unfold in the retail space. Do write in to tell us what you think at 3TB@unblox.com. Follow us on Amazon, Insta or YouTube
It's easy to start in India but very difficult to scale in India. This 3.5-hour podcast will cover everything you need to know about scaling a fashion, beauty, or home brand from zero to the first 20 crores, and then to 100 crores and beyond. We have the most requested podcast guest - Kishore Biyani BACK to drop some knowledge bombs. We also have Raj, who took the route of "digital-first" for his business expansion, and Ananth, who decoded e-commerce and marketplaces first. They delve deep into every important aspect one should know for scaling a brand, such as brand names, logos, category selection, performance marketing, SEO, growth hacking, marketplace strategies, distribution decisions, and community building. It will be a crash course for anyone who wants to take his/her brand from 0 to 1. If you're below 22 and are working on building a brand from 0 to 1 in fashion, beauty, or home, here's the chance for that support you've been looking for from India's best business minds. ➡️Apply here: https://tally.so/r/mBp7LN #NikhilKamath: Co-founder of Zerodha, True Beacon and Gruhas Follow Nikhil here: Twitter https://x.com/nikhilkamathcio/ Instagram https://www.instagram.com/nikhilkamat... Facebook https://www.facebook.com/nikhilkamath... Linkedin https://in.linkedin.com/in/nikhilkama... Koo https://www.kooapp.com/profile/Nikhil...#KishoreBiyani Founder of Future Group (https://www.futuregroup.in/) #AnanthNarayanan: Founder of Mensa Brands Follow Ananth here: Twitter https://twitter.com/anarayanan24 Instagram https://www.instagram.com/narayanan.a... Linkedin https://in.linkedin.com/in/ananth-nar... #RajShamani: Content Creator & Founder of House of X, Figuring Out Podcast Follow Raj here: Twitter https://twitter.com/rajshamani Instagram https://www.instagram.com/rajshamani/ Facebook https://www.facebook.com/shamaniraj/ Linkedin https://in.linkedin.com/in/rajshamani Raj's Youtube Channel https://www.youtube.com/@rajshamani Timestamps (00:00) - Intro (02:06) - Ananth's Career Path (04:23) - Ananth's Myntra CEO Journey (07:19) - Ananth's Entry into Pharmacy (09:18) - Ananth's E-commerce Return (13:16) - Mensa Brands: Explained (19:45) - Unveiling Raj's Business Side (21:23) - Raj on House of X Fundraising (22:44) - China's Live-Streaming Trend (23:38) - Raj's Family Business Growth (27:47) - Raj's Customer Insights (31:30) - Data for Product Development (33:53) - Raj's Marketing Tricks (38:35) - Raj's Family Business Exit (42:11) - Raj's 400M Views Formula (43:30) - Social Media Virality Tips (46:42) - Kishore's Consumption Insights (52:33) - India's Consumption Demographics (01:03:16) - Luxury Brands' Tricks (01:08:51) - BNPL Convenience (01:10:28) - Quiet Luxury & Signaling (01:16:37) - Content & Community (01:24:42) - Scaling to 20 Crores (01:30:19) - Westernized Branding (01:35:14) - Growth & E-commerce Hacks (01:50:36) - Performance Marketing Role (01:52:42) - Category Selection Navigation (01:55:07) - Art of Brand Storytelling (01:59:49) - High Price vs. Quality (02:02:20) - Brand Longevity Insights (02:04:28) - Unlocking Beauty Industry (02:10:09) - Micro-Niche Strategy & Picks (02:16:44) - SKU Count Decisions (02:20:21) - AI & Machine Learning Impact (02:25:47) - Customer Reviews & Returns (02:29:22) - Creator & Celebrity Brands (02:35:59) - Addition vs. Replacement Categories (02:38:10) - Brands Preferred by Raj (02:40:05) - Panelists' Views on Virtue Signaling (02:44:44) - Indian Luxury Brand Opportunity (02:48:05) - Celebrity/Influencer Selection (02:59:30) - Kishore's Daughter's Ventures (03:01:08) - Offline in 100+ Crores Sales (03:02:58) - Platforms: Valuation & Models (03:04:13) - ONDC's Platform Disruption (03:06:44) - Panelists' Thriving Sectors (03:08:53) - Nikhil's Lululemon Love (03:12:27) - Untapped Men's Makeup Market (03:14:51) - Micro-Influencers & Failures (03:20:15) - Special Announcement: Apply Now! (03:23:10) - Bloopers Time! (03:23:59) - Outro
On this episode, financial journalist Govindraj Ethiraj talks to T Koshy, MD and CEO of ONDC (Open Network for Digital Commerce). ONDC is a private non-profit Section 8 company established by the Department for Promotion of Industry and Internal Trade (DPIIT) of Government of India to develop open e-commerce. Previously, Mr Koshy was part of the startup team of NSDL (National Securities Depository Limited). He subsequently joined Ernst & Young as a senior partner, where he worked exclusively in population scale problems and its digital solutions. He has played a key role in projects such as DEMAT, UIDAI, GST, the Tax Information Network, and CoWIN to name a few, and has been involved extensively with the ecosystem developing open source solutions and digital public infrastructure.In this conversation you will learn about e-commerce, the setting up of ONDC, how the protocol works, how it facilitates sellers and buyers, use cases, the future of ONDC and more.TCR: Weekend Edition with T Koshy on YoutubeFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube | Telegram
On today's episode, financial journalist Govindraj Ethiraj talks to T Koshy, CEO of Open Network for Digital Commerce (ONDC) as well as ICICI Securities strategist Vinod Karki.SHOW NOTES[00:50] Pace of Road construction in India, could go up 25% by next year, says Crisil Ratings. [02:22] How Taxi & Auto Unions Are Driving Adoption of ONDC by the thousands. [10:52] India's traditional industries like iron and steel lead the pack in gross value add or GVA contribution to the economy.[18:01] 32 Companies Apply to Make Laptops in India.For more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube | Telegram
In this episode we discuss:[00:02:12] How did Nitin's definition of "impact" change over time?[00:03:44] When did Nitin join the VC industry, and what was the market condition at that time?[00:07:54] What was the most important lesson Nitin learned from his time at NEA (New Enterprise Associates)?[00:10:50] How is the VC industry different in the US compared to India?[00:16:06] What are some things that founders in India don't understand about VCs?[00:20:29] Why did Nitin become interested in EdTech?[00:23:00] What is Nitin's view on the future of EdTech in India and the role of AI in the sector?[00:27:00] What is Antler and what is its mission in the startup ecosystem?[00:28:23] What specific pain points is Antler India addressing for founders in the ideation phase?[00:29:01] How does Antler differentiate itself from traditional venture capitalists?[00:30:30] How does Antler's global network benefit startups in India and help them think about their products and teams differently?[00:31:14] What does Antler focus on in the early stage investing process, particularly at the pre-seed stage?[00:31:54] Does Antler only look for future founders in colleges or does it consider applicants from various backgrounds?[00:32:35] What is the Antler India Fellowship, and how does it help democratize entrepreneurship?[00:35:00] How does Antler reduce the cost of experimenting and building startups, and what are the key factors that Antler considers when evaluating founders?[00:38:00] What are the challenges and limitations of venture capital in India?[00:41:25] What factors make India a promising market for startups, and what are some counter examples that indicate the potential for significant success?[00:44:00] What is the role of a VC, and what are the key learnings and qualities required to be successful in venture capital?[00:47:29] How do ONDC and Web3 differ in their approach to decentralization, and what are the challenges and opportunities for both?[00:52:15] What are some of the potential benefits of ONDC for small businesses in India, and how could it bridge the gap between digital payments and digital commerce?[00:54:16] Where does Nitin see Antler India in 10 years and what is the desired impact on the startup ecosystem?AboutNitin is a seasoned early-stage investor, having invested in 60+ tech startups in multiple geographies. With First Principles, he built a thesis-driven proprietary portfolio of 40+ angel investments backed by marquee investors. As the founder of Incrypt Blockchain, he has been the first Indian VC to play an active role in fostering India's blockchain ecosystem. Nitin and his team have invested in 16 blockchain projects since 2017, with the Incrypt Blockchain portfolio spanning projects such as Arweave, Mudrex, OnJuno, BAT, Ocean, Molecule, Persistence and more.Previously, Nitin was a founding team principal at Lightbox Ventures, one of India's leading consumer-focused VCs, where he helped build the first two funds since the very inception.Earlier in his career, he learnt the ropes of the VC business in the US, while being at New Enterprise Associates (NEA), one of the world's preeminent venture funds. At NEA, he worked on multiple investments with successful IPO/M&A outcomes (Millennial Media, AddThis, OPower, etc.) and co-led the firm's first education technology investment. He also served as an early executive at EverFi (one of the world's largest education networks, $250M raised), and started his career as a technology investment banker at UBS Investment Bank in San Francisco.Nitin holds an MBA from The Wharton School, and two degrees from the University of Southern California. He serves on the India Advisory Boards of AngelList, the USC Viterbi School and The Better India, and advises the Indian government (NITI Aayog) on frontier tech policy.
In this informative episode, The Boys share their thoughts about ONDC which stands for: Open Network for Digital Commerce. They also discuss the potential future of ONDC, Swiggy, & Zomato. Grab your favourite drink and enjoy the episode! Podcast Socials: https://www.instagram.com/wickedgames... https://www.instagram.com/ ruxsheel https://www.instagram.com/ siddharthsign https://www.instagram.com/ vishnu_614 https://www.instagram.com/ theycallusu... https://linktr.ee/wickedgames
When the govt launched Open Network for Digital Commerce (ONDC), the idea was to build the world largest e-commerce platform to check the monopoly of giants like Amazon and Flipkart. You could think of ONDC as the UPI of e-commerce. From ride-sharing and food delivery, to groceries, the platform can be used to buy and sell anything. Lately, ONDC has been doing some interesting things with pricing. For example, someone ordered food on it for a price that was 45% lower than Swiggy. This, obviously, got thinking. Could ONDC kill the likes of Swiggy and Zomato and others?While there is no exact answer to that because of a bunch of factors, what made us more curious was this: Do we want ONDC to win? And if it does then what could be the consequences?Tune in to find out.Recommended reading: Why everyone wants a piece of India's open e-commerce platform Daybreak is produced from the newsroom of The Ken, India's first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
फूड डिलीवरी और ई-कॉमर्स ऐसे दो क्षेत्र हैं जहां सरकार ने दिग्गजों के पर काटे बिना, डुओ पॉली (दो कंपनियों के प्रभुत्व) प्रणाली को रोकने के लिए एक अप्रत्यक्ष तंत्र बनाया है.
In today's episode for 12th May 2023, we talk about the disruption by the Open Network for Digital Commerce (ONDC) in food delivery. We've launched an endeavor to give simplified health and life insurance advice via Ditto Insurance. Book a free consultation call with our advisors or just drop us a text on WhatsApp for all your insurance queries. Check out Ditto: https://bit.ly/3ym6GjO Insta- https://www.instagram.com/joinditto/ Twitter- https://twitter.com/joinditto
Last year in October, the Karnataka government banned Ola and Uber autorickshaws after they were caught overcharging. A month later a new app was launched and it was almost antithesis of Ola and Uber. It charged zero commission from drivers and no cancellation or surge charges from riders. Plus, the government supported it by saying it would be listed on its e-commerce behemoth, ONDC.Yet, eight months later, Namma Yatri is not growing as much as expected in terms of registered drivers and users. Tune in to find out more.Recommended reading: Your Namma Yatri auto driver may still be on Uber, OlaAlso, listen to: Gaurav Munjal of Unacademy on being confrontational, paranoid and transparentDaybreak is produced from the newsroom of The Ken, India's first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, analytical business stories.
In April, a 66-year-old Indian citizen by the name of Sundar Nagarajan was arrested in London, for his connections with the banned Lebanese terror outfit Hezbollah. What's the story here? Listen in to know more! In other news, there's a new cool kid on the food delivery block – ONDC or Open Network for Digital Commerce. This platform hopes to revolutionise online food delivery in India by eliminating the middleman between businesses and consumers.Tune in to The Signal Daily to know more! You can listen to this show and other awesome shows on the IVM Podcasts app on Android, iOS or any other podcast app. You can check out our website at https://ivmpodcasts.com/. Do follow IVM Podcasts on social media. We are @IVMPodcasts on Facebook, Twitter, & Instagram. Follow the show across platforms: Spotify, Google Podcasts, Apple Podcasts, Amazon Prime Music. See omnystudio.com/listener for privacy information.
Many cab and auto-hailing apps have tried to challenge the might of Ola and Uber and have failed over the years. There's a new app called Namma Yatri that is doing something different and is acquiring more customers every day. Shailesh Chitnis and Bharath Reddy talk about the app and what's so different about it. Check out Takshashila's courses: https://school.takshashila.org.in/ Do follow IVM Podcasts on social media. We are @IVMPodcasts on Facebook, Twitter, & Instagram. https://twitter.com/IVMPodcasts https://www.instagram.com/ivmpodcasts/?hl=en https://www.facebook.com/ivmpodcasts/ You can check out our website at https://shows.ivmpodcasts.com/featured Follow the show across platforms: Spotify, Google Podcasts, Apple Podcasts, JioSaavn, Gaana, Amazon Music Do share the word with your folks!See omnystudio.com/listener for privacy information.
Sanjay Swamy, Managing Partner Prime Venture Partners in conversation with Shripati Acharya, Managing Partner Prime Venture Partners.Listen to the podcast to learn about02:00 - FinTech is a Gift That Keeps on Giving07:00 - FLDG, The Regulator & The Regulated10:00 - How to Partner with Banks16:00 - Flow based lending & New Opportunities25:00 - Opportunities in Infrastructure for Banking30:00 - Co-Creation & Big OpportunitiesClick here to read the full transcriptWant to learn more about about the India Opportunity & India Stack? Listen to this episode with Shireesh Joshi, Chief Business Office ONDC where we talk about ONDC: Interoperability & Unbundling, Why will Customers use ONDC?, Business models, Unsolved Areas and New Opportunities, Success Metrics for ONDC and a lot more. Enjoyed the podcast? Please consider leaving a review on Apple Podcasts and subscribe wherever you are listening to this.Follow Prime Venture Partners:Twitter: https://twitter.com/Primevp_inLinkedIn: https://www.linkedin.com/company/primevp/ This podcast is for you. Do let us know what you like about the podcast, what you don't like, the guests you'd like to have on the podcast and the topics you'd like us to cover in future episodes. Please share your feedback here: https://primevp.in/podcastfeedback
There are literally hundreds of people who you should be listening to talking about the ambitious ONDC project - ecommerce experts, government officials, antitrust lawyers. But instead, you chose to listen to three rambling fools just trying to make as many puns as possible. And that's why we love you. Anyway, you might have heard of the Open Network for Digital Commerce, the much-vaunted "UPI of ecommerce" the government launched earlier this year. What is it, how does it work, and... Will it work? The armchair experts that are the Chuck, Naren and Tony explore. And yes, Naren's ice cream makes a return.A really good video that actually explains ONDC (not as many puns though) is here: https://www.youtube.com/watch?v=Sp8NgDOT-tMAdd one part news, one part bad jokes, one part Wikipedia research, one part cult references from spending too much time on the internet, one part Wodehouse quotes, and one part quality puns, and you get Simblified.A weekly podcast to help you appear smarter, to an audience that knows no less! Your four hosts - Chuck, Naren, Srikeit, and Tony attempt to deconstruct topics with humor (conditions apply). Fans of the show have described it as "fun conversations with relatable folks", "irreverent humor", "the funniest thing to come out of Malad West" and "if I give you a good review will you please let me go".Started in 2016 as a creative outlet, Simblified now has over 200 episodes, including some live ones, and some with guests who are much smarter than the hosts. Welcome to the world of Simblified!You can contact the hosts on:Chuck: twitter.com/chuck_gopal / instagram.com/chuckofalltradesNaren: twitter.com/shenoyn / instagram.com/shenoynvTony: twitter.com/notytony / instagram.com/notytonySrikeit: twitter.com/srikeit / instagram.com/srikeit
Building the next wave of technology. Today my guest is seasoned investor Nitin Sharma, general partner & co-founder of Antler India. A global early-stage venture capital firm that invests in the defining technology companies of tomorrow. They're one of the fastest growing VC firms in the world. In this episode he talks about his 15+ year investing experience. He talks about how they help early stage founders. He talks about the differences between American entrepreneurs and Indian entrepreneurs. Talks about the No1 mistake founders make after raising money and how he deals with startup failure. He talks about Web3, Metaverse, Fintech and ONDC. Gives important advice if you want to become an investor. And finally he talks about the importance of mentorship and gives great startup advice based on Aristotle's persuasion triangle (character,emotion, logic)In this conversation we also talk about:His first year (2008) as a VCHow many startups they invest in and how muchHow to help founders with the residency program.Values, vision and skills.Going global from day onePitching advice (why you & why now?)The importance of building a global network.Validating ideas.Dealing with new technologiesBeing passionate but not emotional.and much more!linkshttps://www.antler.co/indiaCheck out Skillshare. Skillshare is an online learning community with thousands of classes in design, business, tech, and more. Anyone can join the millions of members in our community to learn cutting-edge skills, network with peers and discover new opportunities. Join for free for 1 month and access all my classes!https://www.skillshare.com/en/r/user/neilpatel?gr_tch_ref=on&gr_trp=onmusic by Punch Deck.https://open.spotify.com/artist/7kdduxAVaFnbHJyNxl7FWV
This is Part 2 of the series where we discuss India's Digital Infrastructure.Here are our Research Notes for the episode. Open Network for Digital Commerce or ONDC has been in the news lately. Currently, online marketplaces (Amazon, Flipkart, Snapdeal) follow a platform model. In this model, they have end-to-end control over the entire e-commerce transaction process, right from seller on-boarding, customer acquisition, order fulfilment, complaint redressal, and managing payments. Right now, all these processes are being controlled by a single entity.ONDC's open network will 'unbundle' or break down this complex system of small activities into separate micro-services that can be addressed separately by any entity. These organisations can chooses to perform one or more of these activities. As a result, the proponents of ONDC say that if it is successful, ONDC will democratize e-commerce, increase competition and accelerate growth.If it is democratised, one big change through ONDC will be that it caps referral commissions for platforms that send shoppers to a seller at just 3% – much less than the roughly 30% cut charged by Amazon, Flipkart and others.---------------------------------------------------------------------------------If you like the content we create, I need 30 seconds of your time to help us reach more people. Do one or more of the following, depending on how much you love The Indian Dream.Subscribe on Youtube (Posting 5 Videos every week)Follow us on Instagram (Posting 3 Reels every week)Follow us on Twitter @sahil071 & @sidbetala (Trying to figure out Twitter!)------------------------------------------------------**This episode is brought to you by PushOwl.PushOwl is a web push marketing app built for e-commerce busiensses. Trusted by more than 25000 brands across the globe, PushOwl lets you turn one-time store visitors into subscribers, send highly-visible web push notifications, and increase customer retention!------------------------------------------------------Here are some research notes that we compiled or referred to for this episode:Jefferies Report about ONDC - tonne of details not available elsewhere.Twitter Thread by Aditya Kondawar - helped us structure our thoughts.
Shireesh Joshi, Chief Business Office ONDC chats with Gaurav Ranjan, VP Investments Prime Venture Partners.Listen to the podcast to learn about04: 15 - ONDC: Interoperability & Unbundling16:15 - Why will Customers use ONDC?29:30 - “ONDC is not a finished product. It is a capability”31:00 - Business models, Unsolved Areas and New Opportunities42:30 - Success Metrics for ONDC Click here to read the full transcriptEnjoyed learning about ONDC? Next listen to Dilip Asbe, MD & CEO of NPCI talk about UPI: Origins, Growth & Future https://primevp.in/content/podcast/internationalisation-upi-programmable-money-business-models-new-opportunities-dilip-asbe-md-ceo-npci/Enjoyed the podcast? Please consider leaving a review on Apple Podcasts and subscribe wherever you are listening to this.Follow Prime Venture Partners:Twitter: https://twitter.com/Primevp_inLinkedIn: https://www.linkedin.com/company/primevp/ This podcast is for you. Do let us know what you like about the podcast, what you don't like, the guests you'd like to have on the podcast and the topics you'd like us to cover in future episodes. Please share your feedback here: https://primevp.in/podcastfeedback
In today's episode for 6th September 2022, we see why Bernstein thinks Amazon may have a tough road ahead of them. If you want to read our explainer on ONDC, please click this link - https://bit.ly/3RVfy6L.
Open Network for Digital Commerce (ONDC) is an initiative aiming at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks. ONDC is to be based on open-sourced methodology, using open specifications and open network protocols independent of any specific platform. T Koshy is the CEO of ONDC where he focuses on building digital solutions to population scale problems. He also has a long background in the finances space, having worked in NSDL and EY for over 30 years. He is a graduate of IIM-B. Nikhil Kumar is the Co-Founder & Chief Evangelist at Setu. Nikhil was earlier with the iSPIRT Foundation, where he worked on building a vibrant developer ecosystem for Unified Payments Interface (UPI) and Goods and Services Tax Network (GSTN). Before starting up, Nikhil worked together with Infosys co-founder Nandan Nilekani on the “India Stack" of Aadhaar and UPI.
In today's episode for 2nd May 2022, we talk about the most requested topic in a long while now - ONDC. We've launched a new endeavor to give simplified health and life insurance advice via Ditto Insurance. Book a free consultation call with our advisors or just drop us a text on WhatsApp for all your insurance queries. Check out Ditto: https://bit.ly/3CLTfsc Insta- https://www.instagram.com/joinditto/ Twitter- https://twitter.com/joinditto
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