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Work-life balance is the buzzword these days and ample studies have shown how GenZ prefers a job which is flexible in terms of timings. In January this year, a study conducted by Randstad revealed that workers prioritise work-life balance over salary when evaluating potential job opportunities. According to the study, 57 percent of employees would reject a job offer if it negatively impacted their work-life balance. However, even though employees want greater work-life balance, there have been billionaires who disagree with the concept and promote hustle culture instead. From advocating for longer work hours to dismissing the idea of balance altogether, these tech leaders have taken stances that have often stirred the hornet's nest. <h2><keyword id="20068610" type="General" weightage="100" keywordseo="NR-Narayana-Murthy" source="keywords">NR Narayana Murthy</keyword>: Advocating 70-Hour work weeks</h2><keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> founder NR <keyword id="19920910" type="General" weightage="20" keywordseo="narayana-murthy" source="keywords">Narayana Murthy</keyword> made headlines in October 2023 when he suggested that young people in India should be prepared to work 70 hours a week. Speaking on 3one4 Capital's podcast "The Record," Murthy argued that such an intense work ethic is necessary for India to improve its productivity and compete on the global stage. His remarks sparked a wide-ranging debate online, with some agreeing that increased effort is required to drive progress, while others criticised him for promoting an unsustainable work culture. <h2><keyword id="21042158" type="General" weightage="20" keywordseo="Alexis-Ohanian" source="keywords">Alexis Ohanian</keyword>: Dismissing work-life balance as a farce</h2>Reddit co-founder Alexis Ohanian also shared his views on work-life balance, which he dismisses as an unrealistic ideal. In an August 2023 Twitter thread, Ohanian said that work-life balance is a "farce" and that trying to achieve it is misguided. Instead, he emphasised the importance of knowing when to prioritise work and when to focus on personal life, suggesting that balance is more about shifting priorities rather than achieving a perfect equilibrium. <h2><keyword id="20054707" type="General" weightage="20" keywordseo="Jeff-Bezos" source="keywords">Jeff Bezos</keyword>: Rejecting the trade-off</h2>Amazon founder Jeff Bezos has long been a critic of the term "work-life balance." Speaking at an event in 2018, Bezos explained that he finds the concept debilitating because it implies a trade-off between work and life. He said that he prefers to view it as a "circle" where both aspects are interconnected. In earlier interviews, Bezos had mentioned that his happiness at work positively influences his personal life, and vice versa, suggesting that the two are more intertwined than balanced. <h2> <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>: Sleeping in offices</h2>Elon Musk, known for his demanding work ethic, has also been vocal about his approach to work-life balance—or the lack thereof. During the 29th Annual Baron Investment Conference in 2022, Musk revealed that he used to live in his factories and would sleep on the floor to show his commitment to his work. He believed that demonstrating his dedication in such a visible way would inspire his employees to work harder. Musk has also been critical of what he perceives as a declining work ethic in America, contrasting it with the intense dedication he observes among workers in China. <h2><keyword id="19915280" type="General" weightage="20" keywordseo="Jack-Ma" source="keywords">Jack Ma</keyword>: Endorsing China's "996" work culture</h2>Alibaba co-founder Jack Ma had expressed support for China's controversial "996" work schedule, which involves working from 9 a.m. to 9 p.m., six days a week. In 2019, Ma referred to the "996" culture as a "huge blessing" for young workers, arguing that the opportunity to work such hours is something to be grateful for, especially if one is passionate about their job. He downplayed concerns about overwork, suggesting that those who love their work won't find such hours burdensome.

70-hour work week to sleeping in offices: Golden words on hustle culture from NR Narayana Murthy, Elon Musk, and other billionaires

As India’s start-up ecosystem matures, a new trend is emerging: <keyword id="23791918" type="General" weightage="20" keywordseo="micro-acquisitions" source="Orion">micro-acquisitions</keyword>. This approach – focussed on buying smaller businesses – has become increasingly popular among Indian entrepreneurs looking for cost-effective growth avenues. Platforms like <keyword id="23791917" type="General" weightage="20" keywordseo="flippa" source="keywords">Flippa</keyword> are at the forefront of this shift, facilitating these transactions by offering a user-friendly, data-rich environment where buyers and sellers can connect seamlessly. In a country that has seen rapid growth in entrepreneurship, micro-acquisitions represent a shift from the traditional emphasis on large scale deals. And this trend is being fuelled by an influx of domestic funds and micro venture capital (VC) firms dedicated to nurturing early-stage startups. <h2>Changing Mindsets: Why Micro-Acquisitions?</h2>Entrepreneurs are turning to micro-acquisitions for the flexibility, speed and cost-efficiency that they offer. By targeting smaller, less capital intensive deals, they are able to side step the complexities of a traditional M&amp;A, making it a viable pathway for expansion and growth. Besides these can also help entrepreneurs diversify their holdings and adapt to market demands without overcommitting resources. Flippa allows Indian entrepreneurs to access a global marketplace where they can identify businesses aligned with their objectives. <h2>The M&amp;A Landscape in India</h2>While the US mergers and acquisitions market has seen slower growth, private capital inflows in India are on the rise, according to <a href="https://www.pwc.com/gx/en/services/deals/trends/private-capital.html">PwC</a>. The second quarter of 2024 proved to be a landmark period for Indian startups, with a 57% year-on-year surge in megadeals driving fundraising to an eight-quarter high of $5.2 billion, as reported by <a href="https://www.dealstreetasia.com/reports/india-deal-review-q2-2024">Deal Street Asia</a>. Flippa has capitalised on this trend. A marketplace founded in 2009 for buying and selling online businesses, it has amassed over 3 million users worldwide. As of <a href="https://flippa.com/data-insights?buy_sell=PR_DataInsights_EmbedGraphs">October 2024</a>, Flippa had 396,000 active buyers on its platform with a combined wallet of $75 billion, an increase of 15,000 active buyers month-on-month. This broad, engaged user base gives Indian entrepreneurs a diverse pool of acquisition targets, from digital properties to app-based ventures. Notably, data-driven app acquisition companies like KalaGato leverage Flippa to identify the right opportunities. “If you’re trying to get into the market, a platform like Flippa is a great place to start,” said Aman Kumar, Founder of KalaGato. <h2>Cutting Edge Technology At Work</h2>Flippa’s technology sets it apart, using a proprietary <a href="https://flippa.com/product/recommender-engine">matching algorithm</a> powered by an AI-driven graph neural network that assesses over 100 factors to match buyers and sellers. This technology streamlines the acquisition process, helping entrepreneurs find suitable opportunities more efficiently, especially in a crowded market like India, where navigating business brokers or directly approaching potential sellers can be time-consuming and fraught with challenges. “Flippa as a platform is continuously evolving. Once you start looking at exits or the potential to exit a business, then a platform like Flippa is super useful,” Kumar adds, emphasising the platform's adaptability to the needs of modern entrepreneurs. Another standout feature is its <a href="https://flippa.com/product/deal-room">multi-user Deal Room</a>. This comprehensive digital sales hub allows users to manage the entire sales process for online businesses and digital assets in one place. Sellers can communicate with buyers in real time, filter messages, and review offers and Letters of Intent (LOIs) within the Deal Room itself. This organisation is particularly helpful for entrepreneurs who may be overwhelmed by the volume of inquiries when trying to sell their business. The Deal Room provides real-time notifications about buyer engagement, ensuring that users can respond promptly and keep negotiations moving forward. Buyers are invited to the Deal Room on a scheduled basis, creating a structured interaction environment. <h2>Prioritising Security and Trust</h2>A secure transaction environment is crucial, especially for entrepreneurs new to acquisitions. Flippa’s <a href="https://flippa.com/product/insurance">insurance</a> policies offer this layer of security for both buyers and sellers. The Buyer Protect policy safeguards buyers against financial losses resulting from seller misrepresentation or breaches of warranty, covering up to 100% of the enterprise value of the business. Meanwhile, the Seller Protect policy shields sellers from potential financial losses, creating a balanced environment for transactions. This dual protection reinforces trust and allows the involved parties to focus on growth without worrying about potential hidden risks. <h2>Market Insights for Informed Decision-Making</h2>To further assist users in making informed decisions, <a href="https://flippa.com/product/market-insights/">Flippa Market Insights</a> provides valuable data on online businesses and digital assets. This tool enables users to compare prices of similar businesses, benchmark performance metrics like average order value and customer lifetime value, and access real-time sales data, including historical performance information. Users can filter this data by time period, business model, and price point, ensuring they have the insights needed to navigate the acquisition landscape effectively. Flippa’s expert vetting team reviews the stated financial performance of every asset priced above USD $50,000, providing an additional layer of credibility to the listings. <h2>A Bright Future for Micro-Acquisitions in India</h2>With the Indian startup ecosystem thriving and the appetite for micro-acquisitions only expected to grow, Flippa stands at the forefront by connecting ambitious entrepreneurs with the resources they need to succeed. Whether you’re an established business owner looking to expand your portfolio or a newcomer eager to dip your toes into entrepreneurship, Flippa offers a wealth of opportunities in this exciting landscape. So, if you are interested in starting your exit journey, get a free valuation for your business here - <a href="https://flippa.com/free-valuation">get a FREE valuation</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

The rise of micro-acquisitions in India: How Flippa is driving the trend

New Delhi, M&amp;A deal value in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> fell 27 per cent in 2023 to USD 136 billion but the deals market is expected to remain steady in the current year, Deloitte India said in a report on Monday. "Amidst significant global challenges posed by high-interest rates, macroeconomic uncertainty, regulatory scrutiny, and geopolitical risks, India's M&amp;A landscape stood resilient in 2023," 'India M&amp;A Trends 2024' report said. "Despite global economic and geopolitical challenges, India's deals market is expected to remain steady, reflecting strong confidence from businesses and investors amidst a global economic slowdown," it added. In 2024, M&amp;A (Merger and Acquisition) momentum is expected to remain steady with the manufacturing sector, driven by automotive, with deal growth expected in auto-components and <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (EVs). Also, the government's proactive initiatives to promote clean energy are expected to catalyse a significant rise in M&amp;A within the energy sector. M&amp;A in the financial services sector is anticipated to be driven by large-scale consolidations and responses to regulatory shifts. Private Equity (PE) is projected to remain consistent in 2024, while deal momentum is expected to revive post-2024, supported by flattening interest rates and recovering economic growth. <keyword id="20733110" type="General" weightage="20" keywordseo="sumeet-salwan" source="keywords">Sumeet Salwan</keyword>, <keyword id="19964686" type="General" weightage="20" keywordseo="partner" source="keywords">Partner</keyword>, Consulting, Deloitte India, said, "The global challenges posed by high interest rates, macroeconomic uncertainty, and geopolitical risks, that characterised 2023 are expected to continue into 2024 as well. While the global M&amp;A market remains soft, Indian companies continue to be steered by a strong domestic economy. They may increasingly see M&amp;A as a crucial strategy to help them expand, integrate supply chains, and reinforce market positions." According to the report, M&amp;A deal value in India reduced to USD 136 billion in 2023 from USD 186 billion in 2022. Financial services, technology, media, and telecom (<keyword id="20147197" type="General" weightage="20" keywordseo="tmt" source="keywords">TMT</keyword>) continue to be the top sectors driving M&amp;A. Financial services sector witnessed a 45 per cent decline in deal value and a 23 per cent increase in deal volume from 2022. TMT sector encountered a 33 per cent YoY (Year on Year) reduction in deal value, while deal volume fell 34 per cent. Overall cross-border deal value declined 11 per cent in 2023. However, inbound deals saw significant growth, with their share increasing to 41 per cent from 27 per cent in 2022, it said, adding that outbound M&amp;A deal value experienced a notable 49 per cent decline compared to 2022. The energy sector saw a sharp 63 per cent increase in deal value in 2023 as compared to 2022, driven by renewable energy and rising interest in clean energy from foreign investors. The construction and transport sector witnessed a 44 per cent decline in deal value compared to 2022. The sector also had the highest share in outbound deal value, contributing 29 per cent to the same. The medical and pharma sector witnessed a 17 per cent fall in deal value from 2022, driven largely by strategic buyers seeking to expand scale. The industrial and manufacturing sector witnessed a significant 33 per cent and 22 per cent rise in deal value and volume, respectively, in 2023 compared to 2022. "The rise in the manufacturing sector was driven by the automotive segment," the report said.

M&A deal value in India drops 27% in 2023 says Deloitte report

Her long-cherished Olympic dream shattered by a cruel twist of fate, <keyword id="19895499" type="General" weightage="100" keywordseo="Vinesh-Phogat" source="keywords">Vinesh Phogat</keyword> on Thursday bid adieu to her international wrestling career, saying she doesn't have the strength to continue anymore. The 29-year-old, who was disqualified for being 100gm overweight ahead of her 50kg category gold medal bout in the Olympics on Wednesday, announced her decision on social media, seeking forgiveness from everyone who supported her. Addressing her mother Premlata, Vinesh wrote, "Ma, wrestling has won, I have lost. Please forgive me, your dreams and my courage, everything is broken." "I don't have any more strength now. Goodbye wrestling 2001-2024. I shall be indebted to you all. Forgive (me)," added the two-time world championships bronze-medallist. <div type="twitter" handle="Phogat_Vinesh" handlename="Phogat_Vinesh" favoritecount="0" retweetcount="0" id="1821332432701779982"></div> Her stunning decision comes a day after Vinesh appealed against her disqualification from the Olympic finals on Wednesday in the Court of Arbitration for Sports (CAS), demanding that she be awarded a joint silver medal. An ad-hoc division of the CAS, which has been set up here for resolution of any disputes arising during the Olympic Games or during a period of 10 days preceding the Opening Ceremony, will take up her appeal in the next few hours. She spent a good part of the day at a polyclinic inside the Games village owing to severe dehydration caused by her desperate measures to make the cut, which included going hungry, avoiding fluids and staying up all night to sweat it out. Cuban wrestler Yusneylis Guzman Lopez, who lost to Vinesh in the semifinals, replaced her in the final against American Sarah Ann Hildebrandt. Hildebrandt won the bout to claim gold and Vinesh is now banking on CAS to be a joint silver-medallist with Lopez. However, the sport's international governing body, United World Wrestling (UWW) has made it clear on its part that the current weigh-in rule will not be changed as of now. "On IOA's suggestion that a wrestler's results from the day on which the athlete met the weigh-in requirements should not be disqualified, the UWW President was sympathetic. "UWW will also discuss the suggestion at an appropriate platform but it could not be done retrospectively," the world body said in a statement late on Wednesday after its President Nenad Lalovic met IOA chief P T Usha. Vinesh had scripted history by becoming the first Indian woman wrestler to reach the gold medal bout in her category on Tuesday night. She was assured of at least a silver medal before the disqualification. Vinesh is a three-time Olympian and has won gold medals in both the Asian and Commonwealth Games. For the past one year, she had also been the face of fierce protests against former Wrestling Federation of India head Brij Bhushan Sharan Singh, who has been accused of sexual harassment by women grapplers. Vinesh, who has always competed in the 53kg category, was forced to come down to 50kg just months before the Games after the Paris quota place in that division was locked by Antim Panghal. Panghal lost in the opening round itself and is facing deportation after trying to facilitate her sister Nisha's access to the Games Village on her accreditation card.

"Ma, wrestling has won, I have lost": Vinesh Phogat says goodbye to wrestling in a heartbreaking post

<ul><li>In the year-till-date, 1,321 deals were recorded amounting to $45.9 billion.</li><li>That’s 62% lower in value, and 29% lower in volume as compared to 2022.</li><li>November’s deal value went up 143% MoM, even as volumes fell. </li></ul>India’s deal making activity saw a surge in November — both in terms of value and volume. With only one month to go, the deal-making activity is unlikely to reach 2022 levels for the full year, let alone surpass it, as per <keyword id="131240" type="General" weightage="20" keywordseo="grant-thornton" source="Orion">Grant Thornton</keyword>. The calendar year so far has seen 1,321 deals amounting to $45.9 billion. That’s 62% lower in value, and 29% lower in volume as compared to the same period last year. “The prevailing economic factors, including rising inflation, soaring gold prices, and escalating interest rates, suggest a challenging environment. The strength of the dollar and more stringent global financial conditions pose additional threats affecting capital flows and investor risk sentiments,” says Shanthi Vijetha, partner at Grant Thornton Bharat. November makes its mark with big deals In November 2023, 132 deals were sealed, amounting to $6.5 billion. This is the second best month of the year, after August. Thanks to big ticket deals, November’s deal value went up 143% on a month-on-month basis, even as volumes fell 21% from October. “This month set a record for the highest mergers and acquisition values in 2023, reaching a remarkable four-billion-dollar mark in a single month,” said Vijetha. The biggest deal of the month is Siemens AG increasing its stake in Siemens to 69% for $2.28 billion. This transaction alone was responsible for 35% of the month’s overall values. The other top deals include transactions in the financial sector – like AU Small Finance Bank’s acquisition of Fincare Small Finance Bank for $529 million. Zurich Insurance also acquired a controlling stake in Kotak General Insurance for $494 million. The inbound space drove the values with a 63% contribution while continuing the trend. Domestic deals dominated in terms of deal volumes with a 78% contribution. November deal tracker <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Type of deal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Volume </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4.4 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PE </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 81 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPOs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIPs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">132 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.5 billion </td></tr></tbody></table>Source: Grant Thornton Size does matter with <keyword id="124574" type="General" weightage="20" keywordseo="pe-deals" source="Orion">PE deals</keyword> As many as 81 PE deals were closed during the month, totalling $2.1 billion. While there was a 28% decline in PE volumes compared to October 2023, the values stood unchanged – indicating that big deals are back. The average deal size for November 2023 reached $26 million, marking an increase compared to the preceding months. Three of the top five PE deals were above $200 million – including Blackstone acquiring a stake in Quality Care, undisclosed investors buying a stake in PhamEasy and Alta Capital’s acquisition of Capella Eduinfra. As compared to September 2023, November the month witnessed a 15% increase in values, driven by four high-value deals totalling $1.4 billion.

India’s deal activity in the slow lane in 2023 both in value & volume

Batting superstar Virat <keyword id="19899436" type="General" weightage="20" keywordseo="Kohli" source="keywords">Kohli</keyword> spent about 45 minutes in the nets and pace spearhead Jasprit <keyword id="19989685" type="General" weightage="20" keywordseo="Bumrah" source="keywords">Bumrah</keyword> bowled full tilt as the Indian cricket team on Friday began its preparations for a two-Test series against Bangladesh. With the first Test against Bangladesh scheduled here from September 19, the entire squad, including skipper <keyword id="19899523" type="General" weightage="20" keywordseo="Rohit-Sharma" source="keywords">Rohit Sharma</keyword> and Kohli, assembled at the MA Chidambaram Stadium for a closed door training session. This would be the first home assignment for new head coach <keyword id="19914485" type="General" weightage="20" keywordseo="Gautam-Gambhir" source="keywords">Gautam Gambhir</keyword>. New bowling coach, South African great Morne Morkel, and assistant coach Abhishek Nayar were also in attendance. The BCCI posted images of the first day of practice and wrote, "The countdown starts as Team <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> begin their preps for an exciting home season." The images showed the entire squad listening attentively to Gambhir, his support staff and skipper Rohit. "Virat was there for 45 minutes and Bumrah also bowled full throttle," a local source told PTI Virat has flown in directly from London for the opening Test. Wearing a yellow jersey, Rohit was seen emerging from the airport escorted by security personnel, in a PTI Video on Thursday night, while Kohli came from London in an early-morning flight. The likes of Bumrah, KL Rahul and wicketkeeper-batter Rishabh Pant had reached the city on Thursday. Batter Sarfaraz Khan will join the squad after the Duleep Trophy game in Anantapur, where he is playing for India B right now. The players are returning to the field after a much-needed break of more than a month and would look to put behind the disappointment of losing the ODI series against Sri Lanka in August, which was Gambhir's first assignment as head coach after taking over Rahul Dravid. It would be interesting to see how Rohit's side approaches the game against a Bangladesh side, which is on a high following its 2-0 Test series win over Pakistan recently. Vital World Test Championship (WTC) points are at stake in the two-match series as India get ready for a a gruelling 10-match Test season, which also includes a three-Test series at home against New Zealand and the five-match Border-Gavaskar series later this year in Australia. India are currently heading the table with 68.52 percentage points, while Australia are a close second with 62.50 percentage points. Bangladesh have jumped to fourth spot with 45.83 percentage points following their 10-wicket win over Pakistan in the opening Test and their amazing fightback in the second Test where wicketkeeper-batter Litton Das scored a century to singlehandedly guide the side to a series triumph. The second Test of the India-Bangladesh series will be played in Kanpur from September 27.

Kohli bats for long, Bumrah goes whole hog in India's first practice ahead of Bangladesh Tests

Record levels of cash, asset availability drove M&As in 2022

<ul><li>Overall deal making activity involving India witnessed a slow start and totaled $6.6 billion so far this year. </li><li>Inbound M&amp;A activity was down 85% from a year ago, while outbound deals were down 61%. </li><li>There are also no deals bigger than $1 billion involving India so far this year. </li></ul><keyword id="16802483" type="General" weightage="20" keywordseo="indias-ma-activity" source="Orion">India’s M&amp;A activity</keyword> got off to a slow start this year. As per Refinitiv, an LSEG business which provides financial market data and infrastructure, India clocked in M&amp;A deals to the value of $6.6 billion from January to March 14, 2023. The figure was for $25 billion for the same period last year. In a ‘<keyword id="44501" type="General" weightage="20" keywordseo="merger-acquisitions" source="Orion">Merger &amp; Acquisitions</keyword> data connect’ webinar, Refinitiv said that the total M&amp;A volumes in India in 2022 stood at $172 billion across 2,557 deals. In 2021, it was at $124 billion across 2188 deals. In 2020 and 2019, the number stood at $74 billion and $84 billion respectively. Says Elaine Tan, Senior Analyst at Refinitiv, “With the result of macroeconomic factors including the war in Ukraine, inflationary pressures, and rising interest rate — all of which have had an impact on market sentiment, valuations and the cost of debt financing deals, overall deal making activity involving India witnessed a slow start and totaled $6.6 billion so far this year, a 73.7% decline compared to the same period last year, while number of deals fell 3.17% year-on-year.” With declines across all asset classes and regions, global investment banking fees fell 33% from 2021’s record-breaking annual total of more than $160 billion to less than $120 billion. Among the top three deals in 2023 till date, is the deal with PhonePe (target) and and General Atlantic Service (acquirer). ‘Big pullback in M&amp;A activity’ The top five sectors in India where the biggest deals happened in 2022 are industrials, financials, energy and power, high technology and consumer staples. On the other hand media and entertainment, retail, real estate, materials and consumer products saw the smallest size deals. Worldwide the top sectors were industrials, energy and power, high technology, health care and real estate. Tan added that M&amp;A activity across domestic and cross-border transactions slowed down. Inbound M&amp;A activity was down 85% from a year ago, Outbound M&amp;A deals 61% year-on-year. Private equity-backed deals, which saw record levels in 2021 and 2022, also started slow this year and reached US$2.2 billion to date, down 75% from a year ago. “There are also no deals bigger than $1 billion involving India so far this year. With all the headwinds, we are seeing a big pullback in M&amp;A activity compared to last year,” Tan said.

India’s M&A activity gets off to a slow start in 2023: Refinitiv

<ul><li>The September quarter of 2023 saw a total of 40 deals valued at $1.7 bn, which is a fall of 30% in value terms.</li><li>A total of 30 private equity deals were executed in the BFSI space, cumulatively valued at $566 million.</li><li>Investors show preference for credit-based financial companies with strong profitability metrics, but are still hesitant to make new investments until they gain more confidence. </li></ul> <keyword id="2023017" type="General" weightage="20" keywordseo="Unicorns" source="Orion">Unicorns</keyword> are likely to become scarcer as the funding winter is nowhere near over. The go-go days of private equity investments may be well behind us going by quarterly data on deals. With two of the biggest private equity players not committing any money to India’s startups this year, both volume and value of deals are on the downswing. The September quarter of 2023 saw a total of 40 deals valued at $1.7 bn, which is a fall of 30% in value terms. Private equity investors are looking at exits rather than investing in new businesses. However, investor interest is holding up in the banking and financial services sector. In the last quarter, a total of 30 private equity deals were executed in the sector, cumulatively valued at $566 million. Among these transactions, fintech claimed the spotlight with a 30% share in terms of deal volumes, even though sequentially value and volume showed a dip. However, banking and non-banks rule the charts with respect to values, contributing a 77% share in overall investments. According to the <keyword id="131240" type="General" weightage="80" keywordseo="grant-thornton" source="Orion">Grant Thornton</keyword> Bharat Financial Services Dealtracker Report, volumes have seen a 23% decline, from 52 deals last quarter. The slowdown is only seen in private markets as public markets continue to shine bright, with India outperforming other emerging markets in the region this year. According to the Dealtracker Report, investors are showing interest in credit-based financial companies with strong profitability indicators, but they are still hesitant to make new investments until they gain more confidence. Vivek Iyer, Partner, National Leader Financial Services Risk Advisory, Grant Thornton Bharat, said, “As we navigate a landscape marked by increasing interest rates and global inflation, the balancing act of central banks becomes crucial to maintaining economic stability. The recent pause in interest rate hikes in India’s monetary policy meetings reflects this cautious approach, especially in the face of global uncertainties and geopolitical factors. What stands out is the evolving investment trend, with private equity funds focusing on primary investments in fintech, banks, and NBFCs, particularly in areas where capital defines growth Strategy.” It is apparent that investors are now looking at profitability and sustainability of the business model. According to Grant Thornton, investors are no longer chasing growth and valuations. Instead they are looking for clear and achievable paths to profitability. Mergers and Acquisitions landscape: The <keyword id="101447" type="General" weightage="20" keywordseo="ma" source="Orion">M&amp;A</keyword> landscape witnessed 10 deals at $1.1 billion. While volumes fell by 9% from the previous quarter, values saw an upsurge of 2047%. Domestic mergers accounted for 60% of the volumes, while cross-border transactions, particularly in the inbound sector, contributed to 60% of the values in the M&amp;A activity. The top deal was Rapyd Financial Networks Ltd.’s inbound <keyword id="30334" type="General" weightage="20" keywordseo="acquisition" source="Orion">acquisition</keyword> of PayU Payments Pvt Ltd for $610 million. Private Equity (PE) landscape: According to Grant Thornton’s report, trends point to a build up of investor interest in fintech, banking, and non-banking financial company (NBFC) sectors. In the last quarter, a total of 30 deals were executed in the PE sector, cumulatively valued at $566 million. This marks a 27% and 76% decline in volumes and values respectively as compared to the previous quarter. Among these transactions, fintech claimed the spotlight with a 30% share in terms of deal volumes. However, banking and NBFC segments took center stage with respect to values, contributing a 77% share. Bain Capital’s investment of $176 million was the top deal in the PE landscape. While private equity funds have been actively involved in exit strategies across various segments, data suggests a renewed interest in fresh investments. Rather than pursuing new acquisitions, most PE funds have been channeling their capital into existing investments, bolstering their positions and financing expansion initiatives in the evolving financial landscape. Initial Public Offering Activity: Two IPOs were launched, collectively valuing a substantial $186 million, marking a change in comparison to the previous quarter when no IPOs were observed. Further, the quarter saw three QIPs amounting to an impressive $1.2 billion. Notably, the banking sector played a dominant role in the QIP market, contributing a significant 54% to the overall QIP values for the quarter. This uptick in IPO and QIP activity shows a growing investor appetite and interest in the sector’s offerings. Global investors are showing increased interest in financial services, particularly lending- focused businesses, due to elevated global interest rates. Key areas for credit growth in India include affordable housing, MSMEs, and education. The insurance sector is also poised for growth with regulatory changes and global standards gaining prominence, although substantial investments are yet to come. Fintech remains attractive to investors, but data privacy, influenced by the DPDP Act, 2023, will significantly impact the financial services sector, particularly fintech companies, prompting a re-evaluation of their operational strategies.

Deal Tracker: PE investments fall by 30% to $1.7 bn in September quarter, BFSI rules the roost

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> bucked the global trend with strategic merger and acquisition (M&amp;A) deal volume and value reaching all-time highs in 2022, a report showed on Tuesday. Record levels of cash and availability of assets helped deliver a boom with deal volume up 36 per cent and deal value up 139 per cent in 2022, according to <keyword id="205571" type="General" weightage="80" keywordseo="bain" source="Orion">Bain</keyword> &amp; Company's annual report. "We have seen four straight years of growing deal volume and value, with 2022 setting another record year. This is in stark contrast to the mood and momentum in the rest of the world," said <keyword id="6197" type="General" weightage="80" keywordseo="karan-singh" source="Orion">Karan Singh</keyword>, managing partner, Bain and <keyword id="1969426" type="General" weightage="50" keywordseo="company-india" source="Orion">Company India</keyword>. The strong M&amp;A activity was seen across sectors, including financial services, utilities, manufacturing, and healthcare. Environmental, social, and governance (ESG) is a new theme and India is emerging as a hotspot for renewable energy, Singh added. Consumer tech has seen the highest start-up consolidation, followed by edtech and fintech. "M&amp;A activity is strong across the board, from conglomerates acquiring new value creation engines, to insurgents buying into new segments and acquiring new capabilities," said <keyword id="12780795" type="General" weightage="80" keywordseo="vikram-chandrashekhar" source="Orion">Vikram Chandrashekhar</keyword>, partner, Bain &amp; Company. Additionally, India is becoming a prime alternative for global companies that are eager to diversify their supply chains. "Close to 65 per cent of executives we surveyed have said they expect M&amp;A activity to stay strong in 2023, this is significantly higher than the global average of 37 per cent," said Chandrashekhar. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/indian-economy-projected-to-grow-between-6-6-8-in-fy24-says-economic-survey-2023/articleshow/97489284.cms">Indian economy projected to grow between 6-6.8% in FY24; private capex necessary for job creation: Economic Survey 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/capital-expenditure-target-of-7-5-lakh-crore-for-fy23-to-be-met-economic-survey/articleshow/97489810.cms">Capital expenditure target of ₹7.5 lakh crore for FY23 to be met: Economic Survey</a>

India emerged as global M&A hotspot in 2022: Bain & Company report

Indian <keyword id="20930968" type="General" weightage="20" keywordseo="womens-team" source="keywords">women's team</keyword> will be eager to use the three-match <keyword id="19929031" type="General" weightage="100" keywordseo="T20I-series" source="keywords">T20I series</keyword> against <keyword id="19899437" type="General" weightage="20" keywordseo="South-Africa" source="keywords">South Africa</keyword>, beginning here from Friday, as a testbed to finetune its strategies before hitting the road to the <keyword id="20459801" type="General" weightage="20" keywordseo="Asia-Cup" source="keywords">Asia Cup</keyword> and the T20 World Cup. In fact, this is <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s last white ball bilateral series ahead of the Asia Cup in Sri Lanka from July 19 and the ICC showpiece in Bangladesh from October 4. In that context, the Harmanpreet Kaur-led side will leave no stone unturned in their effort to embark for those big events in the best possible frame of mind. They have displayed signs of it too in the preceding three-match <keyword id="19903835" type="General" weightage="20" keywordseo="odi" source="keywords">ODI</keyword> series in Bengaluru and in the one-off Test here. The relentless India have won all those assignments despite the Proteas creating pockets of fight. Since 2023, India have featured in seven T20I series, winning three of them and losing four. They would certainly want to bridge that gap, however narrow it might be. India will take consolation from the form of their players in the first two legs of this series. In the ODIs, vice-captain and star batter <keyword id="19918734" type="General" weightage="20" keywordseo="smriti-mandhana" source="keywords">Smriti Mandhana</keyword> shone brightly with two hundreds and a fifty in three matches, while Harmanpreet found her feet with a hundred in the final ODI. The only jarring note of that triumphant run might have been the shoddy form of opener Shafali Verma but she allayed the concerns with a fiery double hundred, the quickest in women's cricket, in the one-off Test here. Jemimah Rodrigues and Richa Ghosh too have shown sparks of regaining their touch, and these batters occupy the first five places in India's run-makers' list in the shortest format. So, the team management will eye a flawless outing from this quintet against South Africa, who are coming off a less than satisfactory outing against the Lankans at home in the T20Is. India's bowling too looks very strong on paper, as pacers Renuka Singh, Pooja Vastrakar and Arundhati Reddy have been on the money, while spinners Deepti Sharma, Radha Yadav, Asha Shobana and Shreyanka Patil present a formidable force. From a South African perspective, they will depend heavily on skipper Laura Wolvaardt for runs up the order and early momentum. Wolvaardt showed her prolific side slamming a century each in the ODIs and in the one-off Test. The opener's form will be a crucial factor if SA want to win a T20I series since January last year when they prevailed in a home tri-series also involving India and the West Indies. "We have played a lot of good cricket in patches, but to narrow it down, we have to be more consistent," all-rounder Chloe Tryon had mentioned in the pre-match press meet. But the tourists can't lean on Wolvaardt alone as they need runs from Marizanne Kapp, Sune Luus, Anneke Bosch and Tazmin Brits. Nonkululeko Mlaba and Masabata Klaas, Nadine de Klerk and Ayabonga Khaka will have to be at their absolute best against this Indian batting line-up. The Proteas will also hope that they can get a few overs from the experienced Kapp, who has not bowled in the series so far as she is recovering from an injury. Although the MA Chidambaram pitch generally remains on the sluggish side, it was a smoother one in the one-off Test. So, the teams will be keeping an eye on its nature too ahead of this series. Teams (from): <keyword id="19918731" type="General" weightage="20" keywordseo="India-Women" source="keywords" meta.keywordsubtype="org" meta.entityname="India Women" meta.hostid="153" meta.entityid="India Women">India Women</keyword>: <keyword id="19939186" type="General" weightage="20" keywordseo="Harmanpreet-Kaur" source="keywords">Harmanpreet Kaur</keyword> (C) Smriti Mandhana (vc), Uma Chetry (wk), Richa Ghosh (wk), Dayalan Hemalatha, Jemimah Rodrigues, Shafali Verma, Amanjot Kaur, Shreyanka Patil, Sajeevan Sajana, Deepti Sharma, Asha Sobhana, Arundhati Reddy, Renuka Singh, Shabnam Shakil, Pooja Vastrakar and Radha Yadav. South Africa Women: Laura Wolvaardt (C), Tazmin Brits, Mieke de Ridder (wk), Sinalo Jafta (wk), Anneke Bosch, Nadine de Klerk, Annerie Dercksen, Marizanne Kapp, Sune Luus, Chloe Tryon, Ayabonga Khaka, Masabata Klaas, Eliz-Mari Marx, Nonkululeko Mlaba and Tumi Sekhukhune. Match starts: 7.00 pm (IST).

India look to finetune strategies in T20I series against SA ahead of Asia Cup, WC

<ul class="summary-list"><li>India is trying to modernize its military of 1.5 million people with lessons from Ukraine.</li><li>Until recent years, Russia supplied India with many weapons such as tanks and jets.</li></ul>As India boosts defense spending amid tensions with China and Pakistan, it is closely studying the Ukraine conflict for clues to the future of warfare and how to thwart its neighbors.Some lessons that Indian experts have already drawn: India needs lots of artillery, drones and cyberwarfare capabilities.Comparing Ukraine to India is tricky. Ukraine faces one major enemy — Russia — while India must contend with its old enemy Pakistan to the west, and an increasingly powerful China on its northwest frontier. The Russo-Ukraine war is mostly being fought over an Eastern European landscape of plains and forest, with a moderately good road network suitable for mechanized warfare. India must prepare for combat in a variety of terrain and climate conditions, including desert, jungle and some of the tallest mountains on Earth.India is also trying to modernize and standardize equipment for its armed forces, which comprise about 1.5 million personnel armed with a potpourri of equipment from several nations, as well as indigenous Indian gear. Until recent years, Russia supplied many weapons such as tanks and jets, but India is increasingly acquiring arms from Western nations, including American howitzers, French jet fighters, and Israeli drones.The Indian Army's artillery, for example, includes more than 3,000 weapons and multiple rocket launchers, including Russian, American, Swedish and South Korean designs. Indian observers believe Ukraine shows the importance of having plentiful and modern artillery. Artillery has arguably become the decisive combat arm in that war, with Russian firing <a target="_blank" href="https://www.politico.eu/article/ukrainian-army-suffers-from-artillery-shell-hunger/">10,000 shells per day</a> and advancing, while a munitions shortage has limited Ukraine to around 2,000 shells per day. This deluge of firepower has forced both armies to dig in, and turned the conflict into trench warfare."Looking at the demonstration of artillery fire in the ongoing Russia-Ukraine war, two lessons are available to the Indian Army," wrote Amrita Jash, an assistant professor at the Manipal Academy of Higher Education, in a <a target="_blank" href="https://www.orfonline.org/public/uploads/upload/20240118114645.pdf">report</a> for the Observer Research Foundation, an Indian think tank. "First, that firepower can be a 'battle-winning factor,' and second, that the time between acquiring the target to shooting has drastically reduced: where it once took five to 10 minutes, it now takes only a minute or two."Indeed, India already planning to <a target="_blank" href="https://www.thehindu.com/news/national/army-draws-lessons-from-ukraine-war-revises-its-artillery-requirements/article67315823.ece">modernize</a> its artillery arsenal, including switching to 155-mm howitzers — the standard NATO caliber — and developing longer-range shells and rockets.<div type="image" title="Ukrainian servicemen fire an artillery in the direction of Siversk, Donetsk Oblast, Ukraine on April 01, 2024." height="3000" width="4500" msid="109704222" hostid="261" sizebytes="757078"></div>The air war over Ukraine has proven to be a surprise, especially given Russian superiority in numbers of aircraft and technology. Anti-aircraft missiles have deterred the air forces of both sides from venturing into enemy airspace, with Russian aircraft limited to firing stand-off missiles at Ukrainian cities rather than providing air support for its ground troops. <a target="_blank">Drones</a> have become the stars and workhorses of the air war, with both sides deploying — and losing — drones in the hundreds of thousands.There are lessons here for Indian airpower, according to Arjun Subramaniam, a retired Indian Air Force air vice marshal who helped write the ORF report. India must prepare for "gaining control of the air in limited time and space conditions in a short, high-intensity limited conflict as well as in a longer, protracted conflict." The Air Force must also ensure that its plans are synchronized with ground and naval forces. India should also continue to focus on suppressing enemy air defenses, "particularly against an adversary that is more interested in denying rather than controlling the airspace."Not surprisingly, Subramaniam wants the Indian military to increase drone development and production. But he is also concerned about the possibility of a mass drone attack on India. "Of greater importance is the need to rapidly develop counter-drone capabilities that would be essential in responding to large-scale surprise attacks and retain effective second-strike capabilities," he wrote.<a target="_blank" href="https://www.economist.com/europe/2024/03/20/the-cyberwar-in-ukraine-is-as-crucial-as-the-battle-in-the-trenches">Cyberwarfare</a> has also emerged in Ukraine as a crucial tool in everything from hacking into military computers and critical infrastructure to purveying propaganda and deepfakes in global media. ORF researcher Shimona Mohan noted "the increasing role of largely civilian organizations like big tech in conflict situations and the deepening interplay of civil-military partnerships around dual-use technologies like AI."Mohan recommends that India invest in cyberwarfare, as other nations are doing. "However, if this is not feasible for socio-political or economic reasons, it should be a priority for countries to ensure that their strategic geopolitical allies are formidable tech powers—for instance in this war, Ukraine received much support from its more tech-savvy partners like the US and private tech companies."Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on <a target="_blank" href="https://www.twitter.com/@mipeck1">Twitter</a> and <a target="_blank" href="https://www.linkedin.com/in/mipeck/">LinkedIn</a>.

India is drawing lessons from Ukraine to counter China's military might 

<ul class="summary-list"><li>"We will not stop at that (three carriers)," India's defense minister recently said.</li><li>Five or six aircraft carriers would give India a force equal to that of China.</li></ul>India may build a fleet of five to six new aircraft carriers, according to a comment from the country's defense minister that's been widely debated about whether that's a good strategy or if the offhand remark was even serious.The Indian Navy operates two small aircraft carriers. Four more would give India a carrier force on par with China's growing one. And it would not be much smaller — at least in number of vessels — than the US Navy's 11 supercarriers.But whether this ambitious shipbuilding project will happen is another matter. Many Indian experts are convinced it's a bad idea.Exactly what the Indian government is thinking isn't clear. During an <a target="_blank" href="https://www.tribuneindia.com/news/india/work-on-third-aircraft-carrier-to-start-soon-more-to-follow-says-rajnath-621319">interview</a> with an Indian newspaper regarding plans to construct a third aircraft carrier, Defense Minister Rajnath Singh said India would build yet more. "We will not stop at that (three carriers)," he said. "We will make five, six more."Some Indian experts aren't sure the government is even serious about this. The defense minister "seemingly made an off-the-cuff remark that was picked up by the media," Abhijit Singh, a former Indian naval officer and now an analyst at the Observer Research Foundation think tank in New Delhi, told Business Insider. "He was only trying to dispel suggestions that the government is resistant to a proposal for a third aircraft carrier."Nonetheless, there are compelling reasons why India might want a large carrier fleet. India's rival China now has three carriers, including the newly launched 80,000-ton <a target="_blank" href="https://www.businessinsider.com/chinas-newest-aircraft-carrier-seen-with-aircraft-mock-ups-images-2024-4">Fujian</a>, and may aim for a fleet of six carriers by 2035. China — which <a target="_blank" href="https://www.businessinsider.com/chinese-troops-beat-indian-soldiers-batons-wrapped-in-barbed-wire-2020-6">fought</a> border clashes with India in the <a target="_blank" href="https://www.businessinsider.com/after-himalayan-clash-india-prepares-navy-to-take-on-china-2021-6">Himalayas</a> in 2020 — is beginning to project its power into the <a target="_blank" href="https://warontherocks.com/2024/05/its-still-the-indian-ocean-parsing-sino-indian-naval-competition-where-it-counts/">Indian Ocean</a>, which is India's maritime backyard."It is expected that the Chinese will permanently station one of its CBGs [carrier battle groups] in the Indian Ocean, supported by its various bases in Djibouti (on the western edge of the Indian Ocean), <a target="_blank" href="https://www.businessinsider.com/rapid-construction-at-cambodia-base-amid-concern-about-china-presence-2021-6">Ream in Cambodia</a> (on the eastern edge of the Indian Ocean), and Gwadar in Pakistan, Hambantota in Sri Lanka, and Kyaukpyu in Myanmar," warned India's <a target="_blank" href="https://swarajyamag.com/defence/countering-chinas-expansion-india-to-build-five-to-six-more-aircraft-carriers-in-future-defence-minister-rajnath-singh">Swarajya</a> magazine.Interestingly, Swarajya magazine also suggested that carriers could project Indian power into the South China Sea, which is China's maritime backyard. Indian warships have periodically sailed in those waters.<div type="image" title="A view from the sloped bow of the INS Vikrant that carries MiG-29K fighter jets." height="1333" width="2000" msid="110619274" hostid="261" sizebytes="239670"></div>India has two carriers of around 45,000 tons each: the Vikramaditya (a refurbished former Soviet vessel) and the Vikrant, India's first home-built carrier. Both are <a target="_blank" href="https://interestingengineering.com/lists/ski-jumps-catapults-aircraft-carrier">ski-jump</a> designs that launch the troubled Soviet-era MiG-29K under its own power because it lacks catapults. Despite early speculation that the proposed third carrier would be a 65,000-ton ski-jump design similar to Britain's <a target="_blank" href="https://www.businessinsider.com/uks-flagship-carrier-embarrassing-setback-pulls-out-big-nato-exercise-2024-2">Queen Elizabeth-class</a>, the Indian government appears to be opting for a <a target="_blank" href="https://www.newsweek.com/india-third-aircraft-carrier-china-indian-pacific-ocean-region-1847935">45,000-ton vessel</a> similar to the Vikrant, and carrying French-made <a target="_blank" href="https://www.businessinsider.com/frances-rafale-fighter-jet-popular-dassault-cant-keep-up-2024-3">Rafale fighters</a>.This means that Indian carriers would continue to be less than half the size of the 100,000-ton, nuclear-powered US Nimitz- and Ford-class behemoths, which are equipped with steam or electromagnetic catapults that can launch heavier planes, especially airborne early warning aircraft; China's Fujian also uses an advanced electromagnetic catapult. They would also be less expensive, with the third Indian carrier estimated at around $5 billion, compared to $13 billion for a Ford-class carrier.In fact, some Indian naval experts would prefer a larger carrier equipped with catapults. "Small aircraft carriers, like those India possesses, are increasingly vulnerable and unlikely to play a significant role in future conflicts," Singh, the defense analyst, said. "Unfortunately, the country lacks the funding for a large carrier and can only afford another small flattop. This presents a predicament with no easy solutions."On the other hand, there is a reason why America builds enormously expensive aircraft carriers. Its global interests arguably require the ability to dispatch and maintain floating airfields around the world, often in distant places where airbases aren't available. For India and China, which have a more regional focus, smaller vessels may suffice.For India, carriers are more than floating airfields. They are symbols of national power. Thus regardless of their military utility against a powerful adversary like China, carriers would enable India support other operations, such as humanitarian, peacekeeping and anti-piracy missions."The consensus among India's maritime observers is that the aircraft carrier remains central to maritime strategy, not just for its ability to dominate the littoral but also for its crucial peacetime role," said Abhijit Singh. "In less-than-war situations, the flattop can shift the psychological balance in ways no other naval platform can. Despite its drawbacks, the aircraft carrier's aura and impact in peacetime operations are unmatched."Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on <a target="_blank" href="https://www.twitter.com/@mipeck1">Twitter</a> and <a target="_blank" href="https://www.linkedin.com/in/mipeck/">LinkedIn</a>.

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