Going Big On India

I often get asked this question: What does it mean to be #GoingBigOnIndia? #GoingBigOnIndia is a simple thing - the future of global growth is in India. If you want a market for your goods, a high return for your investment, and/or a place to manufacture from, look no further than India. The future of global growth is in India and this is the time to capitalise on India’s growth driven by consumption, demographics, and premiumisation - driven by the people of India. So what is your India strategy? Going Big On India

I recently invested with Rang De, the P2P lending platform that's transforming access to credit for underprivileged Indians. A truly commendable cause. We’ve shared their story previously at Going Big On India - we love their work. My investment experience with them has been amazing, to say the least. The user experience is outstanding. The portal is seamless. The information is very clear. I can stay on top of everything. I’m also amazed by their customer support team who are super helpful, empathetic, and quick to respond. It’s so good to see Indian platforms putting this attention to detail that has often been lacking in the past. I have written about this before and I’ll say it again - customer retention comes from making your customers feel valued and loved. Rang De is a great example of the change we are seeing in India. Smita Ram and Ramakrishna NK, you have done a great job with this! So when will you invest in Rang De?

Happy #MalaysiaDay! Today, I want to talk about the India-Malaysia connection. It runs deep! Indians have migrated to the Malay peninsula since ancient times. This relationship has only strengthened over time - it picked up during the colonial period and grew further after both countries gained independence and opened up for trade. Now, 7% of Malaysians are of Indian origin, mostly from the South of India. You can feel the Indian connection in the cuisine, language, and atmosphere in Malaysia. Last year, Malaysia made it visa-free for Indians to enter Malaysia for 30 days and tourism is booming! India has also recently returned this favour. Indians have taken their traditional business skills to Malaysia and Indian businesses are quite common in Malaysia, especially in KL. And there is an opportunity for more! Trade is at a record high. In August, the Prime Ministers of both countries upgraded the partnership to a “Comprehensive Strategic Partnership” with encouragement to trade in the local currencies (INR and MYR) to further boost trade and employment. With petroleum products and electronics featuring high on the list at present, expect more of the same and other benefits from this upgraded relationship. How do you expect this relationship to grow in the coming years?

Don't go to networking events and conferences to find business partners and clients. Since we started Going Big On India, informal #meetups have been the best way to network and find new opportunities for us. That’s exactly what I did in KL the other day and I met some awesome, driven people - everyone was so switched on and fun. I had a great time and we didn’t just talk shop! Thanks to Xin, Shiuann, Jeannie, Jean, Vijay(Johnny) and Chance for making me feel so welcome! Look forward to meeting again soon. KL is such a growing city and you can sense the growth here with so many expats calling this bristling city home. Everyone is eager to explore the opportunities in Asia and this is great to see. What’s your strategy to make the most of the upcoming and growing markets in Asia?

I’m in #Malaysia till mid-to-late November on Going Big On India work. I've been here for ~2 weeks and it's been awesome! Cheap food, friendly people, pleasant weather, greenery everywhere. Great beaches and rolling hills. Awe-inspiring architecture, buildings, and, well, malls. People do love their shopping here! And of course the amazing work opportunities especially with a connection to India after the recent announcement of the Comprehensive Strategic Partnership. So much potential for growth here. If you live here or know anyone who does, I would love to hear from you!

I have often marvelled at this paradox: Indians are globally known for our hospitality but Indian customer service is slow, inefficient, or ineffective - it's much worse than what you get overseas. You'll know what I mean if you have ever called a customer helpline, gone to a bank or a govt office, or lodged a complaint. You'll go unheard, your problem is not solved, and you feel frustrated. Well, mostly. I'm starting to see changes for the better. I was reminded of this over the weekend when I went to Curefit - house of cult for a (much-needed) trial class. The lady at the counter was genuinely helpful. She spoke professionally but was still very friendly. She spoke in my best interests. She wasn't sales-y despite clearly having sales targets to meet. I know this is just a single data point, but it's an example of the better experience I get now compared to 5, 10, or 15 years ago. I think businesses like Curefit - house of cult are starting to see the #potential in India. It starts with good customer service, especially in a gym where you build a relationship with the people who work there. #CultFit's attention to customer service can set them up for future success. If you make your customers happy, they will be willing to pay you more money for a better experience. Even in a price-sensitive country like India. Do you agree?

VCs are #GoingBigOnIndia and Indian Tech! 93% of investors polled recently have declared 2024 as the year that Indian startups bounce back with Tech, especially Fintech, seen as the industry with the biggest promise. According to research from Inc42 Media: - Investors are waiting to deploy capital in the second half of 2024 as the global market conditions ease - Indian IPOs offer great value with the recent IPO success from Ola Electric and other big tech players like Swiggy to still come - Biggest value is seen in Fintech, Cleantech and GenAI On the whole, the startup ecosystem in India is proving to be resilient and onl expected to grow from here. An excellent time for investors to consider India before the capital comes back in the coming months! Source: Inc42 Indian Tech Startup Funding Report H1 2024 Nitish Arora

The US markets rallied yesterday by #GoingBigOnIndia (partly)! Walmart's earnings report yesterday started this rally with Flipkart the poster child for the growth in the business. In fact, Walmart is a fantastic case study of how #GoingBigOnIndia helps companies do well financially. 1. Walmart has been sourcing in India since 2002 with a commitment to source $10B per annum from India-sourced goods till 2027 2. Walmart acquired Flipkart Group in 2018 which included Myntra and what is now PhonePe - no need to talk about how amazing this has turned out for them 3. Walmart Global Tech India has leveraged Indian talent to deliver tech solutions to their customers And the results? Their stock price has outpaced the broader Dow and S&P500 indices, especially this year. Not all of this is due to India and their Indian subsidiaries of course, but India's contribution is evident. In their earnings call yesterday, their executive team highlighted the "double-digit topline growth" in #Flipkart, with more legs to run in the upcoming festive season as a sign that Walmart's business will continue to do well in the coming quarters. They also pointed to PhonePe as another driver of "amazing growth in total payment volume". If Going Big On India can help the biggest global retail store deliver great results, it can help anyone! What's your India strategy? PS: Walmart Foundation is also giving back to India by strengthening small farmer communities in India and empowering women. They're active in their commitment to India and the overall development here.

#IndependenceDay is more than a day off work :P #IndependenceDay is a good day to reflect on India's growth over the last 77 years and look forward to the world we will leave for our children. 77 years ago, nobody would've expected India to be the land of opportunities it has become. Nobody would've expected people to look to India as an engine of growth. India's future is bright and our children have plenty of opportunities before them. #GoingBigOnIndia means just that - that we leave a better world behind for the next generation. The coming years are India's for the taking. There is more #potential and #power in India right now than anywhere else and #more is to come! #HappyIndependenceDay Nitish Arora

The startup winter continues to defrost. The deals may be down in the past week, but the consistency stays high. A week with BIG deals in Tech and FMCG. With seed funding continuing to climb, the potential seen by investors in India continues to be strong. Congratulations to everyone at ShareChat SigTuple Visit Health Country Delight BlueBinaries Engineering and Solutions Pvt Ltd Punch kindlife.in EtherealX Agrizy and Scimplify. Well done and keep going!