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There has been no stopping <keyword id="156418" type="PERSON" weightage="20" keywordseo="Pawan-Goenka">Pawan Goenka</keyword>, the young boy whose family moved to Kolkata from Harpalpur in Madhya Pradesh. He studied at a Hindi medium school and did engineering from IIT Kanpur and went for a PhD at Cornell University in the UK. After over two decades in Mahindra &amp; Mahindra, Goenka has risen through the ranks and has been appointed as the MD and CEO, as the company’s billionaire promoter <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword> himself became a non-executive chairman. Ever since, he has been headhunted by the best of the best like AT&amp;T – was hired by General Motors. But Goenka had spotted an ad in a newspaper by Mahindra &amp; Mahindra in Detroit who called auto professionals back home. An interview was fixed.

Pawan Goenka nearly missed the job at M&M ⁠— today he is the MD & CEO

<ul><li><keyword id="156418" type="PERSON" weightage="20" keywordseo="Pawan-Goenka">Pawan Goenka</keyword>, the managing director of $54 billion Mahindra &amp; Mahindra, believes “post-COVID-19 four things are likely to change in the way we work”. </li><li>These practices will bring “efficiency, agility and also reduce cost”. </li><li>Goenka suggests post-COVID, people will start accepting work from home culture. </li><li>There will be an increase in usage of VC (video conferencing) in conducting meetings as well. </li><li>There will be a “drastic reduction in business travel”. </li><li>Another change that could happen in the post-COVID world is “fewer large events” believes Goenka. </li></ul>The entire world has tested waters with work from home model thanks to the Covid-19 pandemic, and most CEOs seem to like the results. Pawan Goenka, the Managing Director of $54 billion Mahindra &amp; Mahindra, believes that a lot more will change after the lockdown ends - in the way they work. He listed four ways in which a new normal will emerge, including work from home. “These practices will bring efficiency, agility and also reduce cost,” he said. Mahindra &amp; Mahindra is an Indian multinational company, which engages in the manufacturing of automotive vehicles. <div type="twitter" handle="GoenkaPk" handlename="Pawan K Goenka" image="http://pbs.twimg.com/profile_images/2554687910/cx8zjl9hfcsvf50mwn21_normal.jpeg" favoritecount="865" retweetcount="161" status="Post Covid 19 four things are likely to change in the way we work. 1. Acceptance of WFH 2. Increased usage of VC in… https://t.co/UIuI1TAVwf" createdat="1587568709000" id="1252980097646125056"></div> Here is what he believes will change Work from Home Goenka says post-Covid, employees at Mahindra &amp; Mahindra will start accepting work from home culture. Before Goenka, Tata Consultancy Services also said that work from home could be the new normal. Moreover, according to Udemy,<a href="https://www.businessinsider.in/india/news/indians-want-to-work-remotely-long-after-lockdown-ends-says-a-new-survey/articleshow/75295487.cms"> employees too would want to work remotely long</a> after the lockdown ends. Increase in video conferencing for meeting Goenka added that the company will witness an increase in usage of video conferencing to conduct meetings. With people working from home, video conferencing saw a massive spike. Coronavirus-led Zoom, a video conferencing app, witnessed a 1900% increase in users to 200 million. Even people who couldn’t avoid physical meetings like the Indian Prime Minister too shifted to video conferencing. Lesser business travel Goenka predicts Mahindra &amp; Mahindra is likely to see a “drastic reduction in business travel”. Lockdown put a complete halt on business travel. Moreover, some countries are also considering suspending work visas. Kris Gopalakrishnan, the co-founder of Infosys, also said the IT industry will be witnessing a cut on business travel in the post-COVID world. A tech giant in India has to spend <a href="https://www.moneycontrol.com/news/business/in-post-covid-19-world-less-business-travel-could-be-the-new-normal-5177961.html">₹1,000 - ₹4,000 crore on travel.</a> According to Gopalakrishnan, “the positive is that people have figured out how to do business without travelling”. Fewer large events Another change that Mahindra &amp; Mahindra is looking for is “fewer large events”. In other words, the automaker is likely to focus on more digital launches. For a long time, companies would refrain from conducting any events with masses. Since scientists are unsure of how long the effects of Covid-19 will last, social distancing norms will have to be practised and even employees at work will need ‘room’ or ‘space’ apart. All this directs towards long-lasting effects in the way organisations function. See also: <a href="https://www.businessinsider.in/education/news/coursera-india-ceo-sees-blended-campuses-thriving-once-the-pandemic-abates/articleshow/75313066.cms">Coursera's India MD sees 'blended campuses' thriving once the pandemic abates</a>

The Managing Director of $54 billion Mahindra & Mahindra, Pawan Goenka, says these four things will be ‘normal’ in the post- COVID world

<ul><li>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet </li><li>The 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India. </li><li>This is just one party on the road to the targeted $2 billion in revenue by 2022</li></ul>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet. Many industry leaders,<a href="https://twitter.com/Varun_dvn/status/1230035375734784001"> bollywood actors</a> and politicians applauded the 45-sec video giving a glimpse at a ‘happy workplace’. But the 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India has a lot more to her credit than a viral video. 
	
	<div type="twitter" handle="hvgoenka" handlename="Harsh Goenka" image="http://pbs.twimg.com/profile_images/1100471315016732672/VQXLpkHZ_normal.jpg" favoritecount="13586" retweetcount="2226" status="Rare to see a CEO dance and have fun in an office setting. That’s the way to create a happy culture @DipaliGoenka… https://t.co/DHDlNz8Gy9" createdat="1582045195000" id="1229812801889357824"></div>





 The reason for the celebration: Welspun India, which makes towels, bathrobes, and bedsheet, registered a whopping 55% growth in net profit for the third quarter ending on December 31, 2019, sparking hopes of a turnaround amidst gloomy prospects for the entire sector. This is just one party on the road to the targeted $2 billion in revenue by 2022. Goenka had a tough start as the boss 
 
 <div type="image" title="BCBE8AC1-8420-48A1-A8D7-E84E24DD23EC" msid="74211911" hostid="261"></div> Goenka was a homemaker, and the wife of <keyword id="949657" type="PERSON" weightage="20" keywordseo="Balkrishan-Goenka">Balkrishan Goenka</keyword> (the Chairman of the <keyword id="157753" type="COMPANY" weightage="20" keywordseo="Welspun-Group">Welspun Group</keyword>) until she decided to become an executive back in 2002. She became an entrepreneur with a new business line, Spaces, a brand that targets premium for towels and bedsheets at a domestic level. Nine years ago, in 2011, Goenka shook the textile industry in India when she took charge of the company. Some industry leaders thought the “Welspun has lost its mind” <a href="https://www.thehindubusinessline.com/business-wire/forbes-ranks-dipali-goenka-as-the-16th-most-powerful-businesswoman-in-asia/article8446854.ece">reported Forbes</a>. ‘Is she here because she is a part of the management?” <a href="https://wow.outlookbusiness.com/dipali-goenka/">Goenka told the media</a>. Two years later, she became the joint managing director in 2013. A few years into the business, Goenka proved the skeptics wrong. Welspun India’s annual revenue was nearly ₹5,500 crore last year. In fact, a look at the stock price of Welspun India shows that the real wealth generation for investors happened only after she took over. 
 
 <div type="image" title="welspun india share price" msid="74211828" hostid="261"></div>





Source: Google Finance Now, the company expects the WelHome and Spaces brands to touch ₹3,500 crore, according to an Edelweiss report, by next year whereas the current market value of entire Welspun India is just ₹4,500 crore. What makes her achievement special is that she has managed to grow the company at a time when the textile industry has been struggling to survive. Particularly, the textile exporters from India have been losing out <a href="https://scroll.in/article/810671/three-charts-show-how-indian-textile-industry-lost-the-race-to-bangladesh-and-vietnam">cheaper competition from Bangladesh and Vietnam</a>. The early setback Sexism was not the only challenge for Goenka. One of the biggest setbacks for the group was in 2016, when Target Corp, second largest value retailer in the US, informed their customers that Welspun India sold them substandard bedsheets. 
 
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 At the time, Target gave about 10% of Welspun India’s billion-dollar revenue every year. Their market cap took a steep fall of 54% — from ₹103.34 billion to ₹46.97 billion between August 19, 2016 and August 30, 2016. Goenka <a href="https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/how-welspun-india-is-emerging-from-a-crisis-that-rocked-its-credibility/articleshow/69706022.cms">took responsibility and met all her customers </a>including JCPenney, Costco, <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> in the US to Sainsbury in Europe. In 2017-18, the company’s gross sales fell by 9%. But the company seems to have recovered from that now. It was ranked as the <a href="http://outlookindia.com/outlookmoney/investment/the-weaver-welspun-india-2122">top home textile suppliers in the US in 2017 </a>and has a distribution network in over 32 countries including US, UK, Europe, Canada and Australia. The good fight Goenka has not only chased her corporate aspirations, she has also strongly backed gender equality. “The biggest change is that the percentage of women has gone up from 7% to 23% in our workforce. IQ is not the only thing that will take an organisation forward. It is also the EQ. And that’s the balance women bring,” Goenka<a href="https://wow.outlookbusiness.com/dipali-goenka/"> told Outlook Business. </a> While prodding other billionaire-owners of big businesses like <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> and <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> to make their workplace more fun, Goenka has also become the face of a changing corporate culture in India. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/article/escorts-share-price-and-inside-story-of-how-market-value-nearly-doubled-in-a-new-book/articleshow/73763872.cms">The inside story of how Escorts turned around to become a nearly ₹10,000-crore company</a> <a href="https://www.businessinsider.in/business/corporates/news/profit-margin-on-jockey-and-speedo-shrinks-shows-page-industries-q3-earnings/articleshow/74119148.cms">Biting slowdown is squeezing Page Industries' profit margin on Jockey and Speedo</a> <a href="https://www.businessinsider.in/business/startups/news/manish-malhotra-ritu-kumar-sabyasachi-and-other-top-designer-clothes-are-available-for-rent-thanks-to-this-indian-startup/articleshow/72326885.cms">Manish Malhotra, Ritu Kumar, Sabyasachi and other top designer clothes are available for rent thanks to this Indian startup</a> <a href="https://www.businessinsider.in/business/news/everybody-needs-a-haircut-says-celebrity-stylist-jawed-habib-who-does-not-fear-the-effect-of-a-slowdown/articleshow/74132791.cms">Star hair stylist Jawed Habib reveals why $30 million franchise hasn't cut prices this slowdown</a>

Welspun CEO Dipali Goenka is more than a dancing CEO⁠— she’s a homemaker-turned-CEO engaged in the good fight

<ul><li><keyword id="94272" type="General" weightage="20" keywordseo="keshub-mahindra" source="Orion">Keshub Mahindra</keyword>, the former chairman of <keyword id="1263014" type="General" weightage="20" keywordseo="mahindra-and-mahindra-group" source="Orion">Mahindra and Mahindra group</keyword> was amongst the world’s oldest billionaires. </li><li>The Wharton University graduate had dreamt of becoming either a soldier or a farmer as a young boy. </li><li>Keshub Mahindra, who had seen licence raj and many other government controls in the 50s and 60s, believed that the pressures helped the Indian <keyword id="34478" type="General" weightage="20" keywordseo="auto-industry" source="Orion">auto industry</keyword> become cost competitive. </li></ul>The patriarch of the Mahindra group, Keshub Mahindra died on Wednesday, at the age of 99. “The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing. I always looked forward to meetings with him and was inspired by how he connected business, economics and social matters. Om Shanti,” said Pawan <a href="https://twitter.com/GoenkaPk/status/1646012668103495681">Goenka in a tweet</a>. The former chairman of Mahindra and Mahindra group who had retired in 2012, was amongst the world’s oldest billionaires as per a recent Forbes report. He had just re-entered the coveted billionaire list in 2023. The businessman turned philanthropist, however, leaves a larger and wider legacy — he was instrumental in helping build India’s indigenous auto industry into a force to be reckoned with. ‘We don’t know a damn thing about the auto industry’ Keshub Mahindra’s story is intertwined with the history of the auto industry in India. The Mahindra and Mahindra group had started two generations before Anand Mahindra, the nephew of Keshub Mahindra and chairman emeritus of the group. The company was founded by two brothers Kailash Chandra Mahindra and Jagdish Chandra Mahindra in 1945, as a steel trader. Kailash Chandra Mahindra, the father of Keshub Mahindra had met the inventor of Jeep, Barney Roos in Washington. That’s how the company became an assembler of Willys jeep in India. A young Keshub, freshly graduated from Wharton University and grown up beyond his boyhood dreams of becoming either a soldier or a farmer, was called into a meeting with the defence minister. This was in 1947 when India had just won its freedom but was finding it tough to find spare parts for their tanks from Britain and other countries. At the meeting, the government said that it was planning to develop its own automotive industry. “We don’t know a damn thing about the auto industry,” Keshub Mahindra told the defence minister. That, however, did not stop neither Mahindra nor the only other auto companies existing back then — Premier Automobiles and Hindustan Motors – from building indigenous vehicles. M&amp;M started manufacturing jeeps in a full do-it-yourself (DIY) mode — when there were no suppliers or vendors. They had to make engines, transmissions, axles, stampings, the body – everything to produce 2,000 Jeeps a year, Keshub Mahindra said in an <a href="https://www.autocarindia.com/interviews/india-at-75-keshub-mahindra-%E2%80%93-the-man-who-saw-it-all-425406">interview with Autocar</a>. <div type="image" title="Keshub Mahindra anand mahindra" msid="99426813" hostid="261" sizebytes="59302" caption="&amp;lt;p&amp;gt;Source: BCCL&amp;lt;/p&amp;gt;"></div> Licences, price controls and capacity caps For another 30 years, the group had fought many battles both from the supply chain ecosystem angle as well as the many rules and regulations back in the day. It was the age of licence raj and M&amp;M was not given a licence to make cars, no matter how many times they applied. In fact they were rejected a dozen times – as they tried to manufacture cars in partnership with various multinationals. Moreover, companies could not increase prices without government nod, and added to that even their capacities were limited by rules. Once, the group was sent a letter by the government asking them why they should not prosecute them for exceeding capacity. “Prosecute us,” Keshub responded to the letter. Forced to do things he described as ‘crazy’, Keshub also admits that it has made Indian manufacturers control costs with frugal engineering and much more —- a move that has made them competitive. It was a good thing in the long run, he admitted in the Autocar interview. The courage of change His can-do attitude is also one of his guiding principles as <a href="https://knowledge.wharton.upenn.edu/article/dream-impossible-life-lessons-keshub-mahindra/">he shared in a Wharton page</a>, “Dream about achieving the impossible — because impossible things do happen. Only the brave have the courage to transform their lives,” he shared. He served as the chairman of M&amp;M for 48 years and ably steered the group through winds of change. The group now has interests across software, financial services and more. In FY22, the group’s revenue stood at ₹90,170 crore as against ₹74,277.78 crore in FY21. The auto business too grew exponentially both organically and inorganically under Keshub Mahindra’s leadership and expanded into light commercial vehicles, tractors and even farm equipment. It acquired companies like Punjab Tractors and Gujarat Tractors and also acquired companies in South Korea like SsangYong Motor, entered the two-wheeler market and also made early strides into the electric vehicle (EV) market by purchasing REVA. Years later, Anand Mahindra and his father Harish Mahindra also started another unique partnership when they lent ₹1 lakh to Uday Kotak for a business that went on to become the Kotak Mahindra Bank. Not just business Even before he retired in 2012, Keshub did not dedicate all his time to business itself — and made space and time for philanthropy. Keshub also founded Housing and Urban Development Corporation (HUDCO), and ran it for many years. “During this time, I visited some of the most deplorable slums in India. I would come home and wonder how people could live like this. That had a huge influence on my life,” he told Wharton. Educating girls and housing for the cancer afflicted are some of the many charity projects he supported with the help of his family.

Keshub Mahindra: The man who thought impossible is possible

New Delhi, June 20 (IANS) Microsoft on Saturday revealed that people in India are using video in 22 per cent of meetings and there has been a considerable increase in Microsoft Teams usage on mobile devices in the country as organisations redefine productivity in the pandemic times. The video meet usages can grow even further in India as there is still less access to devices and stable internet in parts of the country, said Samik Roy, Country Head, Modern Workplace, Microsoft India. "The number of people turning on video in Microsoft Teams meetings had doubled from before working from home became mainstream. In fact, total video calls in Teams grew by over 1,000 percent in March 2020," Roy said in a statement on the occasion of World Productivity Day. In India, productivity at work has often been equated to one element  time and many organisations across the country are seeing the benefits of adopting Microsoft Teams. Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare said that they had this tool even before the current situation, but the usage was very low. "What we are realizing is that we're able to function more than the normal level because none of us are spending time in commuting or waiting for people to join meetings physically. We are also using Teams for our internal meetings, for teleconsultations with the patients, and for our learning and development needs," informed Raghuvanshi. In sectors like manufacturing, there was initial apprehension around remote work. "Work from home will not be a taboo anymore, even for manufacturing companies like Mahindra and Mahindra. Having more digital connect, virtual meetings, people not travelling will become a very comfortable thing," said Dr Pawan Kumar Goenka, CEO and Managing Director, Mahindra and Mahindra Ltd. Anant Maheshwari, President, Microsoft India, said last mont that this one solution has taught people to actually work together and create together. The nationwide lockdown has made CEOs and CXOs, who were earlier against video calling, comfortable with Microsoft Teams in not just conferencing with customers but also doing actual collaborations and integrating business processes within the solution, Maheshwari stressed. In the month of March, the average time between a person's first and last use of Microsoft Teams each day increased by over one hour. "This data does not necessarily mean people were working more hours per day, rather that they are breaking up the day in a way that works for their personal productivity or makes space for obligations outside of work," said Roy. "Employees need to be empowered by technology  from cloud-enabled solutions and mobile apps to integrative collaboration hubs such as Microsoft Teams  allowing them to communicate and collaborate in a secured environment and in the way that works best for them," he emphasized. --IANS na/

Teams usage grow as Indians adopt video in 22% of meetings: Microsoft

<ul><li>Online furniture startup <keyword id="8080156" type="UNKNOWN" weightage="20" keywordseo="WoodenStreet">WoodenStreet</keyword> is rolling out measures like touch-free store policy, <keyword id="6369781" type="UNKNOWN" weightage="20" keywordseo="virtual-reality">virtual reality</keyword> and 3D services and sanitized supply chain. </li><li>The startup said that it will invest $500,000 (₹38 million) on its stores for the post-Coronavirus world. </li><li>This includes virtual contact-less services, virtual reality walkthroughs of a customer’s home via smartphones. </li><li>To regulate supply chains, it will train the artisans and delivery teams as per the <keyword id="240176" type="PERSON" weightage="20" keywordseo="sanitization">sanitization</keyword> standards. </li></ul>As people adopt social distancing, online furniture startup WoodenStreet is rolling out measures like touch-free store policy, virtual reality and 3D services and a sanitized supply chain. The startup said that it will invest $500,000 (₹38 million) on its stores in the post-Coronavirus world. “Given how COVID-19 has virtually changed everyone’s behaviour and lifestyle, we want to assure customers of their safety and of our employees so that they feel confident while shopping,” said <keyword id="8080157" type="PERSON" weightage="20" keywordseo="Lokendra-Ranawat">Lokendra Ranawat</keyword>, WoodenStreet’s CEO. This includes virtual contact-less services, virtual reality walkthroughs of a customer’s home via smartphones, sanitization of all its furniture stores and increased use of digital payment methods. “Implementation of virtual store tools and VR modules will reduce person-to-person interaction. Customers can experience virtual store walkthroughs or products from within their homes,” Ranawat said. To regulate supply chains, it will train the artisans and delivery teams as per the sanitization standards — including disinfection of manufacturing facilities, warehouses and delivery vehicles, temperature screenings, touch-free delivery. It’s been a month since the startup closed store operations due to the nationwide lockdown. However, as the infection rates seem to be slowing down in several districts, the company is now planning to open a few of its stores in the green zones. <div type="image" title="IMG 1" msid="75320673" hostid="261"></div> WoodenStreet is now planning to operate with limited staff at a reduced capacity of 25-30%, allowing only essential employees. While other staff workers can work remotely. The startup says it will entertain only two families within the store at a time, keeping social distancing norms in mind. The staff and customers will not be allowed to enter without masks. “COVID-19 presents a new avenue of change, where new social norms cannot be taken lightly. Masks and social distancing are here to stay for the long run, and we are ready to embrace these norms,” said Ranawat. See also: <a href="https://www.businessinsider.in/india/news/the-ceo-of-54-billion-mahindra-mahindra-pawan-goenka-says-these-four-things-will-be-normal-in-the-post-covid-world/articleshow/75316936.cms?upcache=2">The Managing Director of $54 billion Mahindra &amp; Mahindra, Pawan Goenka, says these four things will be ‘normal’ in the post- COVID world</a> <a href="https://www.businessinsider.in/india/news/home-delivery-of-alcohol-is-illegal-anyone-telling-you-otherwise-is-probably-trying-to-run-a-scam/articleshow/75315790.cms">Home delivery of alcohol is illegal — anyone telling you otherwise is probably trying to run a scam</a>

This furniture startup is investing half a million dollars on virtual reality and contactless shopping in a post-Coronavirus world

<ul><li>Credit rating agency CARE ratings has given the retail sector in India a ‘Negative’ outlook. </li><li>With supply chains disrupted, retailers have to innovate quickly and come up with new ways of keeping the supply up. And it’s not going to come for free.</li><li>That’s why <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Retail is betting on the O2O model with its association with Facebook.</li></ul>The Indian <keyword id="188491" type="PERSON" weightage="20" keywordseo="retail-industry">retail industry</keyword> has seen a massive setback because of the coronavirus pandemic. It was already suffering from a consumption slowdown. But ever since the Coronavirus pandemic spread, malls and stores have been shut for over a month indicating worse times ahead. And the situation isn’t getting better anytime soon – not even after lockdown, say experts. Credit rating agency CARE ratings has given the retail sector in India a ‘Negative’ outlook. “The impact on demand, which is expected to remain muted at least for the next three or four quarters, will be more in case of players with presence in non-essential items and luxury segments,” said the ratings agency in its report. However, it believes grocery will prevail as king. “The retailers with presence in essential commodities continue to have some cash flows to support their fixed costs,” said the report. Low consumer spending even after lockdown Because of the coronavirus pandemic, stock markets across the world have crashed, oil prices have seen a record low, and organizations across the world are taking cost cutting measures. So, as the global economy worsens even after the lockdown lifts, consumers are going to be cautious about their spending.In lieu of a global recession, people aren’t going to loosen their purse strings. “After the control of the spread of the coronavirus and post the lock-down period, the spending as well as shopping patterns of the consumers are expected to change significantly. The consumers are likely to curtail their discretionary spending with reduced income in their hands as well as tendency to preserve cash,” said the CARE report. According to a report by Nielsen, here’s how spending will decrease across sectors post Covid-19. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2054940" data-url="https://flo.uri.sh/visualisation/2054940/embed"></div>]]></cdata></div> Supply chain issues The biggest problem that the retail industry faced with the coronavirus lockdown is the complete disruption of their supply chain. With borders sealed and passes required for movement, trucks were seen to be turned off and lined up across highways. So, retailers have to innovate quickly and come up with new ways of keeping the supply up. And it’s not going to come for free. “Operating costs will go up by 30-35% easily for small stores, larger stores will see costs going up by 10-15%,” said <a href="https://www.cnbctv18.com/retail/future-retails-rakesh-biyani-says-new-coronavirus-sop-to-inflate-retailers-cost-up-to-35-5751931.htm">Rakesh Biyani</a>, Future Retail’s Managing Director. He also spoke about how maintaining social distancing at physical stores will also inch up costs. Who will survive the crash? As people are staying in, the demand for groceries are going up. Even after lockdown lifts, people will avoid public spaces and will continue to order online. Online apps are raking in the orders – Bigbasket is currently processing almost 3 lakh orders a day. So, for retail industries to survive they will have to have the “agility to recognize new consumer behaviour and adapt to meet the altered needs,” said the Neilsen report. And how do they go about it? By creating a balanced approach of online and offline. “In such times, the retailers with presence across the retail segments (grocery, apparel, appliances, accessories) as well as who have an omni-channel strategy with presence in both offline and online channels are expected to have a quicker recovery,” said the CARE report. And interestingly, this is what Reliance Retail is betting on after its deal with social media giant Facebook – the O2O model. Jio has made a quiet entry into e-commerce with <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>. With the association with Facebook, JioMart now aims to use WhatsApp to reach out to consumers, while using kirana stores and its retail prowess for supply. As Reliance chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, he and Facebook founder Mark Zuckerberg are betting on growth in a post-corona world. And both of them have deep pockets to do so. Reliance Retail has over 10,901 stores across the country, and is facing a crisis because of people not visiting stores. Reliance Retail also sells jewellery, apparel and accessories which have come to a stop now. However, even with the consumption slowdown over the past year, Reliance Retail in the third quarter of FY20 posted a 62.32%jump in its pre-tax profit at Rs 2,727 crore. Meanwhile Jio reported ₹13,968 crore standalone revenue from operations, and a standalone net profit of ₹1,350 crore. “The recent tariff hike should still allow Jio’s EBITDA (earnings before interest, tax, depreciation and amortization) to rise 78% YoY [year-on-year] in FY21. Strong telecom and a weaker rupee will offset big cuts in petrochemicals, refining and retail as FY21 EPS rises a small 1.6% YoY,” estimates capital market and investment group, CLSA. Experts too believe that this deal makes for an interesting combination for growth. "The Facebook and Jio deal is the marriage of two superpowers. With the reach and deep pockets that both of them have, it will be a transformational partnership for India. Over the past years Facebook has acquired some very interesting assets like Whatsapp and Instagram. These assets combined with Jio's existing infrastructure make it a very interesting combination,” said Viram Shah, CEO and Co- Founder, Vested Finance, an investment firm. See Also: <a href="https://www.businessinsider.in/india/news/the-ceo-of-54-billion-mahindra-mahindra-pawan-goenka-says-these-four-things-will-be-normal-in-the-post-covid-world/articleshow/75316936.cms">The Managing Director of $54 billion Mahindra &amp; Mahindra, Pawan Goenka, says these four things will be ‘normal’ in the post- COVID world</a> <a href="https://www.businessinsider.in/india/news/home-delivery-of-alcohol-is-illegal-anyone-telling-you-otherwise-is-probably-trying-to-run-a-scam/articleshow/75315790.cms">Home delivery of alcohol is illegal — anyone telling you otherwise is probably trying to run a scam</a> <a href="https://www.businessinsider.in/business/ecommerce/news/from-reliance-jiomart-to-unicorns-and-other-startups-all-line-up-to-serve-kiranas-indias-mom-n-pop-stores/articleshow/75324026.cms">From Reliance’s JioMart to unicorns and other startups all line up to serve kiranas – India’s mom n pop stores</a>

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