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<ul><li>The company has also managed to cut down its adjusted net losses to $21.3 million, from $29 million in the same quarter the previous year. </li><li>The company’s total liquidity stood at $174 million as of June 2020 – which will give the company a runway for the next 6-8 quarters. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>India’s largest <keyword id="977682" type="PERSON" weightage="20" keywordseo="online-travel">online travel</keyword> aggregator <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> earnings results for the April-June quarter show the extent of impact that this pandemic has had on the travel and tourism industry. <keyword id="255878" type="ORGANIZATION" weightage="20" keywordseo="MMT">MMT</keyword>’s revenues have fallen by 95.5% from $141.7 million to $6.3 million. However, the company has also managed to cut down its adjusted net losses to $21.3 million, from $29 million in the same quarter the previous year. But that doesn’t bother the company as much as the weakness of its peers excites it. The management said it is keen on acquisitions, which will help beef up its market share in online travel bookings. <div type="image" title="MMT charts1." msid="77677135" hostid="261"></div> However, it may not come as a surprise for investors as the stock has lost 17% of its value in the last one month. Here’s how the revenue has decreased for the company across segments. MakeMyTrip currently has over 50% market share in all the verticals. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Sectors </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;">Decrease in revenue </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;">Air Ticketing </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;">91.6% </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;">Hotels and packages </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;">98.6% </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;">Bus ticketing </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;">98.2% </td></tr></tbody></table> Acquisitions on the cards The company had $174 million in cash as of June 2020, which will give the company a runway for the next 6-8 quarters, said Mohit Kabra, Chief Financial Officer of MMT. The company has said that even though it has zero debt, it has opened avenues for additional funds to explore any growth opportunities that might come their way. Analysts too expect MMT to explore acquisition opportunities. “We expect the impact of the COVID-19 outbreak will lead to consolidation in the OTA space given stretched peer balance sheets, which could lead to more than 10 percentage points of market share gain for MMYT (in hotels) over the next three years,” said a recent report by Goldman Sachs. The company has also secured credit and guarantee facilities of approximately $100 million. “Which includes a $70 million facility from an affiliate of our largest shareholder and the balance from a commercial bank in India,” said the company’s statement. MMT’s top management remained hopeful of the quarters to come as they said that travel has seen recovery since July. “We have begun to see early signs of recovery in our domestic travels business. Our first quarter performance reflects the bulk of the impact the lockdown had on our business. During the quarter, we took painful but necessary fixed cost reductions and fully flexed our variable costs to ensure we had ample liquidity to re-emerge stronger from the quarter ,” said <keyword id="6467279" type="UNKNOWN" weightage="20" keywordseo="Deep-Kalra">Deep Kalra</keyword>, Group Chairman of MakeMyTrip. The company is also planning to restore salaries of frontline workers and middle management staff by September, as it hopes the momentum of the business will be assured. CORRECTION: The headline has been updated after the company management reached out to Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/business/news/heres-why-makemytrip-oyo-lemon-tree-and-likes-may-reap-the-most-out-of-the-long-term-recovery-in-hotels/articleshow/77670756.cms">Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels</a> <a href="https://www.businessinsider.in/business/startups/news/this-startups-popular-sleep-internship-with-1-one-lakh-stipend-is-back-netflix-show-indian-matchmaking-face-reader-is-the-intern-selector/articleshow/77673059.cms">This startup’s popular ‘sleep internship’ with ₹1 lakh stipend is back – Netflix show Indian Matchmaking’s face reader is the intern selector</a> <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a>

Debt-free MakeMyTrip sets aside money for investment opportunities — while its own revenue is down 95%

<ul><li>The Finance Minister reduced the maximum tax rate, and that will push HNIs and UHNIs to invest more. </li><li>Home-grown and global AIFs with domicile in GIFT City are also expected to benefit from the tax incentives given in the budget, Crisil said. </li><li>Luxury imported cars and international travel will become expensive and deduction on capital gains on luxury home sales is capped too. </li></ul>The Union Budget 2023-24 is being hailed as the common man’s budget, but at the same time many diverse announcements might make things a tad difficult for high-networth and ultra- high-networth individuals (HNIs and UHNIs) in the coming year. First on the positives: finance minister Nirmala Sitharaman did recognise that the highest tax rate in the country is also the highest in the world at 42.74%. This is for those with an annual income of above ₹5 crore. She reduced the maximum tax rate to 39% by lowering the surcharge. This move, Crisil says, will push HNIs and UHNIs – who have an investible surplus of over ₹5 crore and ₹25 crore respectively, to invest more. “The reduction of surcharge at the highest tax bracket and its impact on the reduced incidence of taxation for individuals in the bracket is expected to improve their appetite for investing in alternative investment funds (AIFs), portfolio management services, and other alternate investment products,” said a report by ratings agency Crisil on the Budget impact. AIFs and family offices are also expected to benefit from measures announced in the Budget for startups – to extend the period of incorporation and carry forward losses. It enables the entire ecosystem of startups and the investor community. “Home-grown and global AIFs with domicile in GIFT City are also expected to benefit from the tax incentives given in the budget,” Crisil said. Last year,<a href="https://www.businessinsider.in/finance/news/9-in-10-super-rich-indians-get-richer-in-2022-knight-frank/articleshow/97033671.cms"> nine out of ten UHNIs from India</a> were able to grow their wealth in spite of the Russia-Ukraine conflict, rising interest rates and inflation. In fact, 35% of them were able to grow their wealth by more than 10%, said a report by Knight Frank, and were confident of it growing more in 2023. At 34%, equities constituted the largest chunk of the UHNI portfolio in 2022, as per the report. Importing cars &amp; travelling abroad gets costlier And now to the not-so-good news for the HNIs and UHNIs. Taking money abroad has been complicated as all remittances abroad – with the exception of education via loan and for medical reasons – will be subjected to a 20% tax collected at source (TCS). This will impact investments abroad, which will be taxed at 20%, without any threshold limit. International travel will also become costlier. “One budget proposal that will negatively impact the industry is the move to increase the TCS mandate from 5% to 20% on overseas tour packages. This will not only increase the upfront cash outflow for customers but will also give an unfair advantage to foreign-based online travel booking platforms over India-based travel agents and tour operators,” said Rajesh Magow, co-founder and group CEO of MakeMyTrip. Luxury cars, yet another favourite asset class that India’s rich and super-rich are keen on will also get expensive. The Budget 2023-24 increased customs duty on these cars that are imported – affecting those who love Lamborghinis, Mustangs, Ferraris and more. The FM raised the customs duty from 60% to 70%. "The policies chalked out for the automobile industry incurring increased duty rate is very unlikely to have any impact on the entry-level luxury vehicle segment,” said Sumit Garg, co-founder and MD, Luxury Ride. But those keen on buying high-end models of Mercedes, Land Rover, Porsche and Aston Martin with engine capacities over 3,000cc will have to shell out more. REITs &amp; luxury homes The FM has also proposed to limit deductions from capital gains on investments into residential houses under Sections 54 and 54F to ₹10 crore. “This essentially means that if one sells a house, and gains are more than ₹10 crore, then maximum benefit they can avail is up to ₹10 crore when invested into another property. Capital gains of over ₹10 crore will now be taxed. This is a negative on this segment as previously there was no such cap,” said Anuj Puri, chairman of Anarock group, an investment consultancy. According to the Knight Frank report, UHNIs, in particular, love purchasing residential properties, and the Indian super-rich own 5.1 residences on an average – higher than that of their global counterparts. Moreover, in 2022, about 14% of UHNIs purchased a home, and about 10% are expected to make a new home purchase in 2023. If they indeed do, in the new financial year, they would have to add in the tax element into its resale value. However, the report says that India’s super-rich investments in real estate go beyond residential properties. A significant portion of UHNI wealth – as much as 25% – was allotted to commercial properties in 2022, either directly through ownership or indirectly through funds. This includes directly in the form of assets, and indirectly via funds and REITs or real estate investment trusts. It might look like some of these investments need to be recalibrated as per the Budget proposals – income distributed through redemption of units by business trusts such as REITs and InvITs or infrastructure investment trusts, is to be taxed in the hands of unit holders. “REITs/InvITs, which have emerged as an attractive tool for investment, may see some short-term volatility but are expected to remain an efficient option for investors looking to park funds in India’s promising real estate and infrastructure markets,” said Crisil. In addition, the Budget has also taxed the maturity and surrender amount of non-ULIP insurance policies, if the premium paid by an individual is over ₹5 lakh a year. This could also be bad news for policyholders who purchase high-ticket non-ULIPs in the affluent segment. All in all, the government is leaving more in the hands of India’s rich along with the common man – but for the former, it is redrawing the landscape for saving, investing and spending. SEE ALSO <a href="https://www.businessinsider.in/budget/news/budget-2023-24-nirmala-sitharaman-speech-highlights-and-updates/articleshow/97512649.cms">Budget 2023-24 highlights: Those with income below ₹7 lakh a year need not pay income tax</a> <a href="https://www.businessinsider.in/finance/news/brides-buy-half-of-all-gold-jewellery-sold-in-india-says-world-gold-council-report/articleshow/97168432.cms">Brides buy half of all gold jewellery sold in India says World Gold Council report</a>

India’s rich to shell out more for luxury cars, global travel but may have more to invest

Gurgaon based online travel services agency <keyword id="54613" type="COMPANY" weightage="100" keywordseo="makemytrip">MakeMyTrip</keyword> (MMT) has been eyeing a huge move into the online budget hotels market, for which it has held talks with <keyword id="2870818" type="UNKNOWN" weightage="100" keywordseo="FabHotels">FabHotels</keyword> and <keyword id="2913812" type="UNKNOWN" weightage="100" keywordseo="Treebo-Hotels">Treebo Hotels</keyword>. The <a href="http://www.businessinsider.in/markets/heres-the-indian-travel-company-that-just-went-public-on-the-nasdaq/articleshow/56092065.cms">Nasdaq</a>-listed company wanted to pick up a strategic stake in either of the companies. However, its talks with Bengaluru-based <a href="http://www.businessinsider.in/small-business/companies/budget-hotel-brand-treebo-is-a-value-for-money-affair/articleshow/56357162.cms">Treebo</a> didn’t yield any results despite an offer of $10-12 million. Now, MMT might be investing in FabHotels, founded by Vaibhav Aggarwal and Adarsh Manpuria in 2014. The deal could be worth five to ten million dollars, said <a href="http://economictimes.indiatimes.com/small-biz/money/after-talks-with-treebo-fail-makemytrip-may-invest-in-fabhotels/articleshow/58353902.cms">ET</a> sources. Also read: <a href="http://www.businessinsider.in/budget-2017-didnt-promote-muchof-tourism-in-india-heres-why/articleshow/56918518.cms">Budget 2017 didn’t promote much of tourism in India. Here’s why</a> If the deal goes through, MMT will be in direct competition with market leader <a href="http://www.businessinsider.in/small-business/oyo-rooms-valuation-to-touch-850-million-this-will-be-the-size-of-its-funding/articleshow/58337939.cms">Oyo Rooms</a> and Priceline group-backed <a href="http://www.businessinsider.in/small-business/companies/booking-com-is-providing-startups-in-tourism-sector-a-chance-to-go-to-amsterdam/articleshow/57253587.cms">Booking.com</a>. "The deal is likely to have a clause which will see the budget hotel brand only list with MMT-Goibibo combine. This way they get to lock them into exclusivity," said an insider requesting anonymity. Also read: <a href="http://www.businessinsider.in/MakeMyTrip-to-issue-960m-worth-shares-to-acquire-Ibibo-group/articleshow/55807276.cms">MakeMyTrip to issue $960m worth shares to acquire Ibibo group</a> Talking of FabHotels, the Gurgaon-based budget hotel chain of 175+ hotels has <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword> and <keyword id="192167" type="CITY" weightage="100" keywordseo="Qualcomm-Ventures">Qualcomm Ventures</keyword> as its investors, and secured around $10 million in last funding round.

Makemytrip to soon enter online budget hotel space with investment in FabHotels

<ul><li><keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMytrip</keyword>, India’s largest travel booking platform, turned 20 this week.</li><li>But the company is in the midst of an unprecedented crisis as the coronavirus pandemic has brought a complete halt to travel. </li><li>Group chairman <keyword id="6467279" type="UNKNOWN" weightage="20" keywordseo="Deep-Kalra">Deep Kalra</keyword> and CEO Rajesh Magow will be taking a 50% salary cut from April 2020, but in a letter they wrote to employees they are hopeful of better times.</li></ul>MakeMytrip, India’s largest travel booking platform, turned 20 this week. Unfortunately, its big anniversary comes at a time when the travel industry is badly hit due to the coronavirus pandemic. Flights across the world are suspended, hotels are being turned into quarantine centres, and travel is a far off thought in people's minds. MakeMyTrip's business will be affected, <a href="https://www.businesstoday.in/current/economy-politics/coronavirus-impact-makemytrip-goibibo-redbus-employees-face-salary-cut-fear-of-job-loss/story/399392.html">reports</a> have also said that <keyword id="255878" type="ORGANIZATION" weightage="20" keywordseo="MMT">MMT</keyword> could cut salaries of its employees. Group Chairman Deep Kalra and CEO Rajesh Magow will be giving up their entire salary with effect from April 2020. But in a letter to their 3,450 employees, the top bosses said they will “rebound, revive and thrive again”. Over the years, MakeMyTrip has faced many challenges and survived – the dot-com bust, 9/11 attacks, SARS epidemic, 2008-09 financial crisis and Indian aviation sector challenges in 2012 and 2019. “But for our generation, this challenge is nothing like anything before,” wrote the bosses in the letter. At MMT, cancellations had started pouring in as the news of coronavirus in China began. The company did not is not levy any fee for processing cancellation or rescheduling requests for domestic as well as international flights up to April 30. “We are extremely proud of the customer-focussed mind-set across the company while dealing with unprecedented travel disruption. There is no playbook for this, yet we see countless examples of people and teams stepping up to ensure continuity and stability of our services,” they wrote in the letter. But with the uncertainty all around, the travel industry could be hit the worst. A report by the <a href="https://www.weforum.org/agenda/2020/03/world-travel-coronavirus-covid19-jobs-pandemic-tourism-aviation/">World Economic Forum </a>said that the World <keyword id="2173225" type="PERSON" weightage="20" keywordseo="travel-and-tourism">Travel and Tourism</keyword> Council has warned the coronavirus pandemic could result in 50 million jobs being cut worldwide in the travel and <keyword id="53865" type="PERSON" weightage="20" keywordseo="tourism-industry">tourism industry</keyword>. Moreover, “Asia is expected to be the worst affected. Once the outbreak is over, it could take up to 10 months for the industry to recover” said the report. But at MMT, the founders are hopeful. “We are armed with some of the finest talent and experienced colleagues that are rearing to roll up their sleeves and build things ground up again. We all must over invest to learn, adapt and adjust so we emerge stronger on the other side of this crisis,” they wrote. See Also: <a href="https://www.businessinsider.in/international/news/global-economy-could-shrink-by-1-due-to-covid-19-pandemic-warns-un-desa/articleshow/74942110.cms">Global economy could shrink by 1% due to COVID-19 pandemic, warns UN-DESA</a>

MakeMyTrip turns 20 at a time when travel is badly hit, founders say they will 'revive, rebound and thrive again'

<ul><li>The three-year old <keyword id="8391587" type="UNKNOWN" weightage="20" keywordseo="scapic">Scapic</keyword> is a cloud-based platform which offers creation and publishing of Augmented Reality (AR) and 3D content.</li><li>Scapic’s team will join <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and will help the e-commerce giant build deeper camera experiences, virtual storefronts and bring new opportunities for brand advertising on its platform.</li><li>Flipkart’s acquisition of Scapic joins its long list of recent acquisitions and investments as the company scales up operations while competition rises from the likes of Amazon and JioMart.</li></ul>Indian e-commerce giant Flipkart continues with its acquisition spree. The company has picked up a 100% stake in Augmented Reality company Scapic. The three-year old Scapic is a cloud-based platform that offers creation and publishing of Augmented Reality (AR) and 3D content. The company has clients across e-commerce and marketing. The startup had also recently won in the Industry 4.0 – AR category, during the National Startup Awards 2020. Founded by Sai Krishna V K &amp; Ajay P V, the Bengaluru-based company had earlier raised funding from Axilor, Speciale Invest, and Newfort Capital. “Today, we buy more online than we ever have, and it has only accelerated this year. Customers now require better visuals than ever before. Scapic is building visual technology that brings products to life using Augmented Reality and 3D. Advancements by the Scapic team in the field of AI, Computer Vision and AR have made this change possible,” said the founders in a statement. With the acquisition, Scapic’s team will join Flipkart and will help the e-commerce giant build deeper camera experiences, virtual storefronts and bring new opportunities for brand advertising on its platform. “As we make investments that focus on developing and nurturing the retail ecosystem, we are also committed to making our platform easier to navigate and richer for consumers in terms of content and experience. I welcome the Scapic team to Flipkart as we continue our efforts to provide deeper value to our customers,” said Flipkart CEO Kalyan Krishnamurthy in a statement. Flipkart’s acquisition of Scapic joins its long list of recent acquisitions and investments as the company scales up operations while competition rises from the likes of Amazon and JioMart. Flipkart is also doubling down on user experience on the platform. With its acquisition of social gaming startup <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Mech Mocha</a> recently, the e-commerce platform was looking at ways to develop new and innovative formats to engage with users on its platform. Flipkart is on an investment spree <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Acquisitions by Flipkart </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;">Investment by Flipkart </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;">Mech Mocha </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;">Aditya Birla Fashion Retail Limited- ₹1,500 crore </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;">Walmart’s B2B business </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;">Arvind Fashions - ₹260 crore </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;"> </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;">USPL - undisclosed amount </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/makemytrip-shares-soar-as-covid-vaccine-progress-from-moderna-and-pfizer-spark-optimism-of-faster-travel-recovery/articleshow/79255315.cms">MakeMyTrip shares soar as COVID vaccine progress from Moderna and Pfizer spark optimism of faster travel recovery</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-invests-in-uspl-fashion-house-that-has-brands-like-virat-kohli-wrogn-and-kriti-sanon-ms-taken/articleshow/79058747.cms">Flipkart makes its third fashion investment in five months — bets on USPL that houses brands like Virat Kohli's Wrogn and Kriti Sanon's Ms Taken</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-acquires-gaming-startup-mech-mocha-as-it-looks-to-tap-the-social-gaming-space-for-more-consumers/articleshow/79014466.cms">Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers</a>

Flipkart makes yet another acquisition – buys 100% stake in Augmented Reality startup Scapic

<ul><li>You can invest in <keyword id="48211" type="ORGANIZATION" weightage="20" keywordseo="US-stocks">US stocks</keyword> either through domestic brokers like Motilal Oswal, foreign brokers or through investment platforms like Groww, Upstox etc.</li><li>Very soon, NSE will offer investors to trade in 50 US stocks through GIFT city, an international financial services centre (IFSC).</li><li>Taxation on US stocks is simple as taxes are charged only on dividends and capital gains on the stock sale.</li></ul>Investment in US stocks like <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>, <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword>, Netflix and Google seems an attractive option for retail investors in today’s time. In fact, with the growing number of investment platforms, it has become even more convenient to have an exposure in US stocks. For those who don’t know, there are two ways to invest in US stocks — one option is directly through a domestic broker like Motilal Oswal, HDFC Securities or through a foreign broker. And now you can even invest through apps like Groww. Another way through which one can have exposure to US stocks without putting much effort on stock selection is through mutual funds and exchange traded funds (ETFs). An ETF is a basket of securities, shares of which are sold on an exchange. Very soon, there will be a third option, as this week the NSE announced that it will offer investors to trade in 50 US stocks through GIFT city, an international financial services centre (IFSC). Now the main question is what tax would be imposed on your profits? It is very simple. There are two types of tax implications — tax on dividends and capital gains tax. Tax on dividends Similar to Indian stock market, when you invest in the US stock market you might receive dividends from companies. This is income for an investor, which would be taxed at 25%. So if a company announced a dividend of $100, you will receive $75. The tax rate is comparatively lower for Indians compared to other foreign investors investing in the US as there is a tax treaty between the US and India. However, the dividend received in cash or reinvested again will be taxed in India at your applicable tax slab. However, due to the double tax avoidance agreement (DTAA), the tax withheld in the US can be set off against the tax liability in India. Offsetting means balancing the money that you are owed with money that you owe. For example: You have received a $100 dividend from US stocks in FY21, out of which 25% gets taxed by the US tax department on dividend. This means you have a total $75 income. Now, you have to pay tax on a $100 dividend in India and say you come under a 30% tax slab. Now your tax liability in India is for ₹7,400 assuming dollar rate is ₹74. And remember you have already paid 25% tax in the US which is ₹1,850. So now since you have already paid ₹1,850 as tax in the US you can claim that amount and just pay ₹370. Capital Gains Tax Firstly, capital gain is the profit one earns on stocks. Secondly, there is an additional benefit in investing in the US as they do not charge capital gains tax on Indians. For example: If you had bought shares of $100 and sold them at $400 then you will not be charged tax on capital gains of $300. However, here’s the twist, you will be liable to pay tax on this gain in India. Here there are two types of tax — Long term capital gain and short term capital gain. Long Term Capital Gains (LTCG) LTCG of 20% is charged when you hold the stock for more than 24 months plus applicable fees and surcharges. Short Term Capital Gains (STCG) On the other hand, if you hold the stocks for less than 24 months then you will be charged tax according to your income tax slab. <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ten-most-awaited-ipos-in-the-coming-months-in-india/slidelist/85241641.cms">Paytm, PolicyBazaar, MobiKwik, Nykaa and more -- Ten most awaited IPOs in the coming months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/makemytrip-fully-exits-travel-aggregator-ixigo-deep-kalra-to-resign-from-the-board/articleshow/85240387.cms">MakeMyTrip fully exits travel aggregator ixigo, Deep Kalra to resign from the board</a>

Looking to invest in Facebook, Amazon and Apple shares from India -- These are the taxes you may have to pay

Travel eco system in India has reached a point where start ups dealing in packaged trips, hotel and flight bookings are reaching the breakeven of investments quite fast. Thanks to the disposable income of the Indian middle class, people here are more serious about travelling than ever before. Earlier people traveling for weekend getaway had months of planning to be done. Cut to 2010, <keyword id="6607315" type="ORGANIZATION" weightage="20" keywordseo="OTA">OTA</keyword> (<keyword id="1036098" type="UNKNOWN" weightage="20" keywordseo="Online-travel-agents">Online Travel Agents</keyword>) have changed the game overnight. There are plenty of packages on offer along with ‘discounts’, which makes it more lucrative for the middle class Indians to travel more frequently. That’s where the success story of OTAs like <keyword id="1805678" type="COMPANY" weightage="20" keywordseo="Booking-com">Booking.com</keyword> and <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> lies. With 277 million internet users, India has surpassed USA to achieve the second position in internet penetration just after China. If surveys are to be believed, India’s travel market growth will surpass its GDP growth by 2020, which is already at 10.2% compared to 6.1% GDP of the first quarter this year. <a href="http://www.businessinsider.in/Travelers-from-Tier-2-and-Tier-3-cities-are-more-outbound-Heres-how-they-travel/articleshow/59068309.cms" data-type="tilCustomLink">ALSO READ: Travelers from Tier 2 and Tier 3 cities are more outbound! Here’s how they travel</a> Agency Model VS Merchant Model While most OTAs follow merchant model of business, it is agency model that has gotten the global success. Before going any further, let’s break the concepts for you. In Merchant model, the contract is between the hotel and OTA, where the latter sells rooms at a lower price than standard. The aim is to get bulk bookings and there is no standardization of guest profiles. This gives the OTAs a large room for profit of almost 20-30%. The agency model, on the other hand is far different. Here, the bookings are made on per room basis. The hotel owner gets to decide the final price and shares the commission with OTA only after the guests have checked out. While there isn’t much bargaining involved or the offers cannot be punched with others, this model is transparent. At a price sensitive market like India, discounts do work. But when there is value added, it makes a huge difference. <a href="http://www.businessinsider.in/Meet-this-Gujarati-street-food-seller-who-just-introduced-Jio-like-schemes-of-unlimited-paanipuris/articleshow/58870232.cms" data-type="tilCustomLink">ALSO READ: Meet this Gujarati street food seller, who just introduced Jio like schemes of unlimited paanipuris</a> Why hotels prefer agency model? The agency model of Booking.com is one of the cost-effective ways for hotel and accommodation partners to grow their business and their brand globally. The accommodation partners only pay commission to Booking.com once the guests have stayed, paid and checked out of the hotel. They pay once Booking.com has generated actual business for them. In addition, the agency model enables accommodations to maintain complete control over their businesses as there is no cost to list the properties. The properties have the freedom to decide their own rates and decide the type of rooms that can be made available to customers. <a href="http://www.businessinsider.in/Heres-why-this-is-the-worst-time-to-be-in-the-business-of-hospitality-in-India/articleshow/58805542.cms" data-type="tilCustomLink">ALSO READ: Here’s why this is the worst time to be in the business of hospitality in India</a> When the option of agency model wasn’t there, hotels were bound to go for the merchant model to sell more rooms. But once they got the taste of Booking.com’s agency model, hotels now know how to sell rooms without a major chunk of commission. How Booking has an edge over Merchant-model enabled OTAs? Booking.com’s biggest challenger Expedia has acquired Italy-based Venere, which uses an agency model. Even if that doesn’t hint to Expedia’s preference for agency model, it seriously poses a question on if that’s the future. But one definitely can’t stop asking, how one makes profit with paltry 12-15% of commission from hotels! <a href="http://www.businessinsider.in/Travelers-from-Tier-2-and-Tier-3-cities-are-more-outbound-Heres-how-they-travel/articleshow/59068309.cms" data-type="tilCustomLink">ALSO READ: Travelers from Tier 2 and Tier 3 cities are more outbound! Here’s how they travel</a> According to Vikas Bhola, Regional Manager of Indian subcontinent for Booking.com, focusing on standalone hotels, Booking.com has the best-in-class availability of hotels, that too in the tertiary global market. The breadth of supply of the OTA, powered by ample money poured into Search Engine Marketing has helped Booking.com convert more customers on its landing page. And believe it or not, Booking.com is believed to be one of Google’s largest advertisers. <a href="http://www.businessinsider.in/Heres-why-this-is-the-worst-time-to-be-in-the-business-of-hospitality-in-India/articleshow/58805542.cms" data-type="tilCustomLink">ALSO READ: Here’s why this is the worst time to be in the business of hospitality in India</a> Level playing of technology along with understanding the area-wise travelers have helped Booking.com scale up its empire even with low commissions. (The writer was at Amsterdam on invitation of Booking.com)

This is why Booking.com’s agency model has an edge over other OTAs

<keyword id="6354692" type="ORGANIZATION" weightage="20" keywordseo="Travel">Travel</keyword>lers have an old adage that “half the journey is getting there.” While “getting there” was never intended to mean researching and booking a trip, it was a fitting statement for the tedious booking process; before digital devices disrupted the travel industry. Things have changed and planning a trip is faster and easier than ever. Booking across devices is the new norm, driven by the tech-savvy Indian millennials. In one of the largest smartphones market of the world, it has become a more prominent device for travel bookings. The use of <keyword id="383661" type="UNKNOWN" weightage="20" keywordseo="Mobile-Apps">mobile apps</keyword> continues to extend their reach as a preferred booking channel. This new customer journey has important implications for hotel, airline and other travel brands targeting savvy travellers across multiple digital devices. Travel marketers must embrace mobile growth and develop a seamless cross-device and app strategy to reach consumers wherever they are on their booking journey. It is important that travel companies understand their user journey starting right from browsing, leading to final purchase of bookings/services. Invest in the small screen Travellers are, by nature, on the move, so what better place to reach them than the devices in their pockets? Travel companies must offer content and functionality that are fully adapted to smartphones and take advantage of the latest technology enhancements. Features like swipe to book, quick-loading mobile pages, notification alerts and mobile ticketing can help draw in consumers by making it easy for them to research and plan trips on the go. <keyword id="1762392" type="COMPANY" weightage="20" keywordseo="Criteo">Criteo</keyword>’s latest Asia Pacific Digital Traveller Report reveals, about 54 percent of millennials, and 44 percent of baby boomers in India use smartphones for travel bookings. Considering the growing number of consumers using mobile phones for planning their travel and finally booking through mobile apps or mobile web, travel brands should continue to invest in smartphone-based platforms that make it easy for their consumers to research, plan and book trips on small screens. Travel companies need to adapt mobile experiences to meet the needs of the influential, connected millennials behind this trend in order to be successful. As this trend grows, travel marketers need to ensure they offer secure mobile transactions and a simple payment process so that consumers avoid roadblocks on their travel purchasing journey. These best practices should be replicated across all devices – including smartphone, tablet and desktop – for a consistent and synchronized experience wherever the journey leads. Make your mobile app part of the travel experience Dedicated mobile apps empower consumers with capabilities like choosing their hotel room, checking in early and adding additional services to their stays. Travel brands that have the foresight to focus on developing a feature-rich mobile app will benefit from an increase in downloads and bookings from on-the-go consumers. Travel marketers like OYO have invested in mobile app and online website. OYO adopted a social media strategy (e.g. Facebook, Twitter) in several of its marketing campaigns to raise brand visibility amongst other travel aggregators such as <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">Makemytrip</keyword> and <keyword id="132652" type="COMPANY" weightage="20" keywordseo="Cleartrip">Cleartrip</keyword>. This resulted in revenue increase of OYO by 10%. Brands with a mobile app presence that offers travellers differentiating deals and services are poised for success as smartphone use continues to expand. Moreover, through investment in content digital marketing, companies can build trust, and fortify level of engagement and relationship with their consumers. This will further initiate increase in reach and traffic to website allowing the expansion of hotel, bus, rail, car rental, honey package bookings. Encourage spontaneity with time and location-based offers Several years ago, a last-minute cancellation or change of plans could leave a traveller stranded and frantically calling a travel agent to find a place to stay. Today, the same scenario can be quickly resolved with a few swipes and taps of the thumb. Travel changes on the go are no longer a source of anxiety, but excitement, as the ease of booking spontaneous trips increases, and consumers are embracing this. Industry data shows that majority of <keyword id="158657" type="UNKNOWN" weightage="20" keywordseo="Indian-travellers">Indian travellers</keyword> make last minute travel booking and therefore prefer booking using online/mobile apps, as it is easier to change/cancel their booking. Moreover booking from travel portals is easier to book flights and hotels. Moreover consumers also enjoy the benefit of discounts offered only for online booking or booking via apps. Smart travel marketers can take advantage of this growing trend by making time and location central to their mobile booking experience. Smartphones are shifting closer to the center of the booking experience, making the trip-planning journey more smooth and seamless than ever before. Travel companies should invest in the smartphone booking experience, make time and location key to mobile booking, and build an intuitive and services-driven mobile app to successfully meet travellers at every stage of their journey. Those that can master a mobile-first, cross-device strategy and reduce consumers’ time spent “getting there” will reap the benefits of happy travellers, wherever their final destination may be. (The article is authored by Dushyant Sapre, Commercial Director, Criteo India)

Here’s what travel companies should do to reach mobile savy Indian consumers

<ul><li>In an exclusive interview with Business Insider, the million dollar men Mukul Arora, Deepak Gaur and Mayank Khanduja, of <keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword> sit down to discuss how they invest in <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword>.</li><li>They are now willing to go as early as possible in the fund cycle of a startup. </li><li>SAIF Partners has been an early investor in <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, MakeMyTrip, Swiggy, Firstcry, BookMyShow, Rivigo, Meesho, Sharechat, Urbanclap and multiple others. </li></ul>In one of Gurugram’s hottest properties, in a swanky new space, we walked into the office of SAIF Partners. Huddled in the conference room were Mukul Arora, Deepak Gaur and Mayank Khanduja, men who have made million dollar bets in the Indian startup ecosystem – most of which have taken off and how. SAIF Partners has invested early in most top startups that saw a meteoric rise— like Paytm, MakeMyTrip, Swiggy, Firstcry, BookMyShow, Rivigo, Meesho, Sharechat, Urbanclap and others. The investment firm stood with them through the growth phase of these startups. Investing at the seed stage and Series A round has always been their strategy. They are now more leaning towards investing early. They meet more than 100 companies in a week, but with few breakthroughs. We sat down with Arora, Gaur and Khanduja, as they discussed what they look for in a company. “Our approach is to invest in the best team in place. We have a very focussed approach to investing - unlike some other funds which invest in multiple companies in the sub sector, we map out each sector and try to invest in the best in them, and come in as early as possible,” said Gaur. SAIF Partners invests across sectors – consumer tech, education, finance, healthcare, internet and IT services, logistics, mobile and SaaS companies and more. The second leg of their approach to investing is a fundamental one – looking for the right business model. They look for companies that are customised for India, rather than replicate what’s happening in other countries. The third aspect is that they continue to support and invest in those companies as their horizons are fairly long. “We invest for 7-9 years. We try to invest as much we can according to our fund circumstances across multiple rounds,” said Gaur. So what’s the trick to getting funded by them? A team that has a very fundamental approach to problem solving, where it understands how to solve a real problem in the right manner. It has to be a strong and ‘rightly motivated’ team – which is not creating short term goal or scale but sustainable impact. And of course, capital efficiency in the initial stages. How they cracked Swiggy SAIF Partners invested in Swiggy, when the foodtech unicorn had just a landing page. They had met over 50 teams in the foodtech space, including some of the large names out there today. What they liked about Swiggy was that they understood the problem deeply – the only way is to deliver food on your own, when you have your own logistics in place and — not just build an app for ordering. “First time, we pinged them even before they were live, they just had a landing page in July or August 2014. Then we saw the progress – they were very customer-obsessed even at a small scale, their retention was very strong, they were not offering discounts, charging a convenience fee on every order. They also have a complimentary founding team - Harsha is a very strong business leader, Nandan is great in operations and Rahul is a strong tech guy. Then we invested in the seed round,” said Arora. Could they have predicted then that Swiggy would today be a marker leader? “No,” comes the answer. “But that’s true for the entire consumer tech market, acceleration has happened much faster than we could have imagined in the last four years. But given their building blocks we were sure that this is the team that is likely to be a leader. We had a strong conviction,” said Arora. Why do they go after seed-stage startups As the internet penetration in India has gone deeper, so has a startup’s ability to reach out to more consumers. This has also led to investors going in after startups at an early stage, catch them before they become the hotshot company that everyone’s after. “We are now willing to go even earlier than in the past. We are even talking to companies that are in the pre-launch phase,” said Arora. A big reason for that is that the adoption of these new products or services by consumers is so much faster. “People are so much more open to trying out some of these new products and see if they are satisfying. We had invested in No Broker long time back, we knew that there would be a market for a real estate transaction without a broker. They took two-three years to build a user base but when they started to monetise, I think everyone was pleasantly surprised to see how many people were willing to pay the money. If there’s a high quality service out there, consumers are now more willing to pay,” said Khanduja.

SAIF Partners invested in Swiggy when they just had a landing page – today they are going after more seed stage startups, here’s why

<keyword id="600792" type="UNKNOWN" weightage="100" keywordseo="BookMyShow">BookMyShow</keyword>, an online entertainment ticketing service owned by <keyword id="2347885" type="UNKNOWN" weightage="100" keywordseo="Bigtree-Entertainment-Pvt-Ltd">Bigtree Entertainment Pvt Ltd</keyword>, has Rs 150 crore from <keyword id="161314" type="COMPANY" weightage="100" keywordseo="SAIF-Partners">SAIF Partners</keyword> and its existing investors, Accel Partners and <keyword id="940289" type="COMPANY" weightage="80" keywordseo="Network18-Media">Network18 Media</keyword> and Investments Ltd. The transaction values the venture at over Rs 1,000 crore, according to a company statement. 
 
BookMyShow will use the funding to expand its reach outside big cities, build infrastructure and increase its service offerings. The company has recently started offering ticketing services in 20 more cities. It is now looking to enter the single-screen cinema hall segment. 
 “We are very happy to have SAIF Partners as our latest investors. Their experience of having helped companies such as <keyword id="54613" type="COMPANY" weightage="60" keywordseo="makemytrip">MakeMyTrip</keyword> and Just Dial go public would be of immense value to us as we move forward in our growth plans,” said Ashish Hemrajani, founder and chief executive of BookMyShow. 
 
Last year, the Network18 group, which held 60% stake in Bigtree Entertainment, sold a minority stake to venture capital investor Accel Partners for around $12 million (Rs 66 crore).

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