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In a boost to Elon Musk's <keyword id="20034452" type="General" weightage="20" keywordseo="starlink" source="keywords">Starlink</keyword>, Communications Minister Scindia has said the spectrum for satellite broadband will be allocated and not auctioned as sought by Indian billionaires Mukesh Ambani and Sunil Mittal. The satellite broadband spectrum will however be not given free and sector regulator Trai will fix a price for the resource, he told PTI in a text and video interview. "Every country has to follow the <keyword id="20848482" type="General" weightage="20" keywordseo="international-telecommunications-union" source="keywords">International Telecommunications Union</keyword> (ITU), which is the organisation that lays out the policy for spectrum in space or satellites, and the ITU has been very clear in terms of the spectrum being given out on an assignment basis. In addition, if you look across the world today, I cannot think of a single country that auctions spectrum for satellite," Scindia said. India is a member of the International Telecommunication Union (ITU), a UN agency for digital technology. Musk's Starlink and global peers like Amazon's Project Kuiper back an administrative allocation. While Ambani's Reliance Jio has been vocal about the need to allocate such spectrum through an auction to provide a level playing field to legacy operators who buy airwaves and set up infrastructure like telecom towers, Mittal last month at an industry event where Prime Minister Narendra Modi was also present articulated the need to use bidding for such allocation. Jio and Mittal's Bharti Airtel - India's largest and second-largest operators, respectively - feel that giving away the satellite broadband airwaves at a pre-decided price by the government will create an uneven playing field since they had to compete in an auction to get spectrum for their terrestrial wireless phone networks. The two are vying for a piece of the satellite broadband segment as well. Musk-led Starlink is demanding administrative allotment of licences in line with the global trend as it looks to tap into the world's fastest-growing mobile telephony and internet market. Scindia said the Telecom Act of 2023 passed in December has put the matter in 'Schedule 1', which means that the Satcom spectrum will be allocated administratively. Such an allocation will be at a government-decided price, and allow foreign firms like Starlink to offer voice and data services. If the spectrum were to be auctioned, it would have made it costlier for Starlink to roll out services. Starlink has applied for a licence to start operations in the country. Scindia, however, offered no clues on the fate of his application. The minister said that the regulatory process is very clear and transparent. The new Telecom Act has been passed, and the Satellite spectrum is very clearly a part of that in schedule one, he pointed out. "...and therefore, we are open to looking at the application of any entity that wants to invest in India at this point in time. I think only one or two licenses have been given out. And whoever else wants to participate, India is surely going to welcome that," the minister said. Last month, Musk, in a post on X, termed the demand made by Jio for shunning sector regulator Trai's consultation paper on satellite broadband being allocated and not auctioned as "unprecedented", and when Mittal made the pitch in the presence of the Prime Minister, he asked if it was "too much trouble" to allow Starlink to provide internet services in India. This was perhaps the first time that Musk, whose networth of USD 241 billion is more than the combined wealth of Ambani, Mittal and Gautam Adani, had spoken directly against demands for a level playing field made by the Indian firms. Musk, the mind behind PayPal, founder of Tesla and SpaceX and owner of X (formerly Twitter), uses his social media platform on a daily basis to make his views known on a vast array of topics.

In a win for Elon Musk, Scindia says no to spectrum auction pitch from Ambani, Mittal

<keyword id="21282723" type="General" weightage="100" keywordseo="satellite-communications" source="keywords">Satellite communications</keyword> is a "magic bullet" to cover dark unconnected areas, <keyword id="22764352" type="General" weightage="20" keywordseo="Bharti-Chairman" source="keywords">Bharti Chairman</keyword> <keyword id="20104229" type="General" weightage="20" keywordseo="Sunil-Mittal" source="keywords">Sunil Mittal</keyword> said on Monday, adding that players now have a great new opportunity to leverage satellite connectivity to cover <keyword id="20534956" type="General" weightage="20" keywordseo="remote-areas" source="keywords">remote areas</keyword> that have so far been left out. Speaking at the <keyword id="23624328" type="General" weightage="20" keywordseo="NDTV-World-Summit" source="keywords">NDTV World Summit</keyword>, Mittal said that nearly two billion people in the world are still not connected to the internet, and in the Indian context too there are areas -- large swathes of desert, forests, coastlines -- where neither mobile networks, not fibre is feasible. "For those areas you need satellite communications, and that, to my mind, offers now a great source of new opportunities for us, mobile operators, or <keyword id="20055601" type="General" weightage="20" keywordseo="telecom-operators" source="keywords">telecom operators</keyword>, to put that in a mix and start to cover areas which are still left behind," Mittal said. About five per cent of India's population sans <keyword id="19936241" type="General" weightage="20" keywordseo="internet-connectivity" source="keywords">internet connectivity</keyword> lives in 25 per cent of the area, he said, emphasising that satellite is the only solution for them. "India provides a very high quality signal to 95 per cent of its population, but there are still five per cent of people who do not get internet in the country, and they live in 25 per cent of the area of the country. So it's a very large area with a very small population, the only way to cover that is satellite," Mittal said. Mittal said that two ground stations in Mehsana (Gujarat) and in Pondicherry are in a state of preparedness and ready to start services. "The day government gives us the permission, there will not be a single square inch of this country which will not have a radio coverage. So you just need to raise your hand and be connected," he said. Mittal said he is of the view that satellite is truly a "magic bullet" to cover the dark areas, and noted that about 2 billion people in the world are still not connected to internet, including in advanced countries like the US. The telecom stalwart's comments assume significance as billionaire Elon Musk and Indian tycoons Mukesh Ambani and Mittal are locked in a standoff over satellite spectrum, and nuances of its allocation in India. While Ambani's <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="268" meta.entityid="Reliance Jio">Reliance Jio</keyword> has been vocal about the need to allocate such spectrum through an auction to give a level-playing field to legacy operators who buy airwaves and set up infrastructure like telecom towers, Mittal during India Mobile Congress held last week articulated the need for satellite companies harbouring any urban ambitions to buy spectrum as telecom companies do. Musk-led <keyword id="20034452" type="General" weightage="20" keywordseo="Starlink" source="keywords" meta.keywordsubtype="org" meta.entityname="Starlink" meta.hostid="268" meta.entityid="Starlink">Starlink</keyword> is demanding administrative allotment of licences in line with the global trend as it looks to tap into the world's fastest-growing mobile telephony and internet market. This has found some backing in Telecom Minister Jyotiraditya Scindia, who said recently that such airwaves will be given out through administrative allocation at a cost, but not auctioned.

Satellite 'magic bullet' to connect the unconnected; offers opportunity to cover areas left out: Sunil Mittal

The <keyword id="19956320" type="General" weightage="20" keywordseo="United-Kingdom" source="keywords">United Kingdom</keyword> hosts a diverse group of individuals and families who have accumulated substantial wealth through various sectors, including industry, finance, retail, and technology. Below is a look at the 25 <keyword id="23033805" type="General" weightage="20" keywordseo="richest-people-in-Britain" source="keywords">richest people in Britain</keyword>, each with their own unique journey to wealth, according to The Sunday Times Rich List 2024. <h2> </h2><h2>25. Tom Morris and family</h2>Net Worth: £6.673bn Tom Morris, the founder of Home Bargains, has quietly built a discount retail empire in the UK. Home Bargains has grown to over 500 stores, and Morris’s approach to low-cost, high-volume retailing has earned him and his family a spot among Britain’s wealthiest. <h2>24. Anders Holch Povlsen</h2>Net Worth: £6.73bn Anders Holch Povlsen, a Danish fashion retailer, owns Bestseller, a company with brands such as Vero Moda and Jack &amp; Jones. Povlsen has also become Scotland’s largest landowner. <h2>23. <keyword id="6354819" type="General" weightage="20" keywordseo="Anil-Agarwal" source="Orion">Anil Agarwal</keyword></h2><div type="image" title="Anil Agarwal" agency="BCCL" msid="113051472" hostid="261" sizebytes="1024664"></div>Net Worth: £7bn Anil Agarwal is the founder and chairman of Vedanta Resources, a mining and metals company with operations in India, Africa, and Australia. Agarwal’s rise from a scrap metal trader to a mining tycoon is marked by his aggressive business strategies and expansion into global markets. <h2>22. John Reece</h2><div type="image" title="John Reece" msid="113051663" hostid="261" sizebytes="456630"></div>Net Worth: £7.224bn John Reece is a significant figure in Ineos and is the chief financial officer of the company. Reece's expertise is in finance and management, owing to his Chartered Accountancy background. <h2>21. Andy Currie</h2><div type="image" title="Andy Currie" msid="113051609" hostid="261" sizebytes="455580"></div>Net Worth: £7.257bn Andy Currie is a director of Ineos, the chemicals company founded by Sir Jim Ratcliffe. Currie’s wealth is closely tied to the success of Ineos, where he has played a key role in its strategic direction and expansion into new markets. <h2>20. Denise, John, and Peter Coates</h2>Net Worth: £7.467bn The Coates family founded Bet365, one of the largest online gambling companies in the world. Denise Coates, the driving force behind the company, has built Bet365 into a dominant player in the industry, with significant revenues generated from its online platform. <h2>19. Lord Bamford and family</h2><div type="image" title="Lord Bamford" msid="113051678" hostid="261" sizebytes="1568515"></div>Net Worth: £7.65bn The Bamford family owns <keyword id="107342" type="General" weightage="20" keywordseo="JCB" source="Orion">JCB</keyword>, a leading manufacturer of construction equipment known for its distinctive yellow machines. Under Lord Bamford’s leadership, JCB has grown into a global brand, exporting to over 150 countries and maintaining a strong market presence in the UK. <h2>18. <keyword id="469673" type="General" weightage="20" keywordseo="nicky-oppenheimer" source="Orion">Nicky Oppenheimer</keyword> and family</h2>Net Worth: £7.937bn Nicky Oppenheimer, ex-chairman and once the controlling shareholder of De Beers, sold his family’s stake in the diamond company to Anglo American for $5.1 billion. Since then, Oppenheimer has diversified his investments, focusing on conservation, private equity, and venture capital. <h2>17. Carrie and François Perrodo and family</h2>Net Worth: £9.168bn The Perrodo family’s wealth comes from their privately-held energy company, Perenco, which operates oil and gas fields around the world. François Perrodo, who took over the company after his father’s death, has continued to expand its global footprint, solidifying their position among Britain’s richest. <h2>16. Marit, Lisbet, Sigrid, and Hans Rausing</h2>Net Worth: £9.188bn The Rausing siblings, part of the Tetra Pak dynasty, have expanded their wealth through diverse investments and philanthropy. While their fortune originates from the packaging industry, they have also made significant contributions to charitable causes, particularly in the arts and education. <h2>15. Barnaby and Merlin Swire and family</h2>Net Worth: £9.986bn The Swire family has deep roots in shipping and aviation, with their conglomerate, Swire Group, operating in industries ranging from property to beverages. Barnaby and Merlin Swire oversee a global empire that includes Cathay Pacific Airways and significant property holdings in Hong Kong. <h2>14. The Duke of Westminster and the Grosvenor family</h2>Net Worth: £10.127bn The Duke of Westminster, Hugh Grosvenor, inherited a vast real estate empire that includes prime properties in London's Mayfair and Belgravia. The Grosvenor family’s wealth is tied to their vast land holdings and investments, managed through the Grosvenor Group. <h2>13. Charlene de Carvalho-Heineken and Michel de Carvalho</h2>Net Worth: £11.751bn Charlene de Carvalho-Heineken, the controlling shareholder of Heineken, along with her husband Michel de Carvalho, manages one of the world’s largest brewing companies. Their wealth is underpinned by the global reach of Heineken, which operates in over 70 countries. <h2>12. Michael Platt</h2>Net Worth: £12bn Michael Platt is a hedge fund manager and the co-founder of BlueCrest Capital Management. Once one of the world’s largest hedge funds, BlueCrest now operates as a private investment firm, with Platt’s fortune growing from his successful investment strategies and management fees. <h2>11. Alex Gerko</h2>Net Worth: £12.055bn Alex Gerko, a mathematician turned financier, made his fortune through algorithmic trading. He is the founder of XTX Markets, one of the world’s largest electronic trading firms. Gerko's innovative approach to trading has positioned him as a significant figure in the finance industry, with a rapidly growing net worth. <h2>10. Kirsten and Jorn Rausing</h2>Net Worth: £12.634bn The Rausing family, heirs to the Tetra Pak fortune, continue to benefit from the global success of the packaging company. Kirsten and Jorn Rausing have also ventured into philanthropy and have stakes in various other businesses, maintaining their status among the wealthiest in the UK. <h2>9. John Fredriksen and family</h2>Net Worth: £12.867bn Norwegian-born shipping magnate John Fredriksen has a net worth built on his dominance in oil tanker shipping. He owns the world’s largest oil tanker fleet through his company Frontline and has substantial stakes in offshore drilling, fish farming, and other maritime sectors. <h2>8. Guy, George, Alannah, and Galen Weston Jr and family</h2>Net Worth: £14.493bn The Weston family has long been involved in retail, owning well-known brands such as Selfridges, Primark, and Fortnum &amp; Mason. Their wealth is not only tied to these retail ventures but also to their vast land holdings and investments in the food industry. <h2>7. <keyword id="29201" type="General" weightage="20" keywordseo="Lakshmi-Mittal" source="Orion">Lakshmi Mittal</keyword> and family</h2> <div type="image" title="Lakshmi Mittal" agency="BCCL" msid="113051708" hostid="261" sizebytes="1017200"></div>Net Worth: £14.921bn Lakshmi Mittal, a steel tycoon, transformed a small family steel business into ArcelorMittal, the world’s largest steel producer. Despite facing challenges in the steel industry, Mittal remains one of Britain's wealthiest individuals, with his family holding extensive investments in real estate, including properties in London’s prestigious Kensington Palace Gardens. <h2>6. Idan Ofer</h2>Net Worth: £14.96bn Israeli billionaire Idan Ofer made his wealth through holdings in shipping and energy. His company, Quantum Pacific Group, owns significant stakes in the shipping firm ZIM and the energy company Pacific Drilling. Ofer’s influence extends to football, with ownership stakes in the Spanish club Atlético Madrid. <h2>5. Sir James Dyson and family</h2> Net Worth: £20.8bn Sir James Dyson revolutionized the home appliance market with his innovative vacuum cleaners, hand dryers, and bladeless fans. His company, Dyson Ltd, continues to expand into new areas such as electric vehicles and robotics, reflecting Dyson's relentless pursuit of innovation. <h2>4. Sir Jim Ratcliffe</h2><div type="image" title="Sir Jim Ratcliffe" msid="113051750" hostid="261" sizebytes="459440"></div>Net Worth: £23.519bn Sir Jim Ratcliffe, the founder and chairman of the chemical company Ineos, is one of the most prominent industrialists in Britain. Starting as a chemical engineer, Ratcliffe built Ineos into a global giant with operations in chemicals, oil and gas, and automotive, including the recent acquisition of the British brand, Grenadier. <h2>3. David and Simon Reuben and family</h2>Net Worth: £24.977bn The Reuben brothers, David and Simon, have amassed their wealth through real estate, particularly in London's lucrative property market. Originally making their fortunes in metals and commodities, the Reubens have since transitioned into property, owning prime real estate across London, including iconic locations like Millbank Tower and the Burlington Arcade. <h2>2. Sir Leonard Blavatnik</h2>Net Worth: £29.246bn Sir Leonard Blavatnik, a Ukraine-born American-British billionaire, built his fortune through diversified investments in industries such as oil, gas, and media. A major shareholder in Warner Music Group, Blavatnik's wealth also stems from his private equity firm, Access Industries, which has stakes in a wide array of sectors including chemicals, technology, and real estate. <h2>1. <keyword id="675132" type="General" weightage="20" keywordseo="Gopi-Hinduja" source="Orion">Gopi Hinduja</keyword> &amp; family</h2><div type="image" title="PP Hinduja and Ashok P. Hinduja" agency="BCCL" msid="113051799" hostid="261" sizebytes="944901"></div>Net Worth:£37.196bn Leading the wealth rankings, the Hinduja family, under Gopi Hinduja's leadership, has a vast empire spanning banking, energy, automotive, and more. The Hinduja Group’s origins trace back to India, and today, the family's business interests are spread across 38 countries, with significant assets in the UK.

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London, <keyword id="19994374" type="General" weightage="20" keywordseo="bharti" source="keywords">Bharti</keyword> Enterprises Founder and Chairman <keyword id="20035984" type="General" weightage="20" keywordseo="sunil-bharti-mittal" source="keywords">Sunil Bharti Mittal</keyword> on Wednesday became the first Indian citizen to be conferred an honorary <keyword id="20763363" type="General" weightage="20" keywordseo="knighthood" source="keywords">Knighthood</keyword> by Britain's King Charles III "for services to UK and India business relations". In a list of honorary British awards unveiled by the UK Cabinet Office, <keyword id="20134935" type="General" weightage="20" keywordseo="mittal" source="keywords">Mittal</keyword> receives a KBE under the Most Excellent Order of the British Empire - one of the highest honours conferred by a British monarch. The 66-year-old entrepreneur said in a statement that he was "deeply humbled" by the gracious recognition from King Charles. "The UK and India have historical relations, which are now entering a new era of increased cooperation and collaboration. I remain committed to working towards strengthening the economic and bilateral trade relationships between our two great nations," Mittal said. "I am thankful to the government of the UK, whose support and keen attention to the needs of business has been critical in making the country an attractive investment destination," he said. The KBE, conferred for a pre-eminent contribution in any field of activity, is awarded in an honorary capacity to foreign nationals. While the Knighthood conferred on UK nationals gives them the title of Sir or Dame, non-UK nationals awarded the honour add KBE (or DBE for women) after their name. Previous Indian recipients of the Honorary KBE include Ratan Tata (2009), Ravi <keyword id="20006262" type="General" weightage="20" keywordseo="shankar" source="keywords">Shankar</keyword> (2001) and Jamshed Irani (1997), conferred by the late Queen Elizabeth II. The investiture ceremony will be conducted by the British High Commissioner to India at a later date, when he will formally hand over the royal insignia to Mittal. The honour recognises Bharti Enterprises' work within the India-UK space, including with the UK government in the field of satellites. Sunil Bharti Mittal led the revival of OneWeb (now Eutelsat), leading a consortium with the UK government and other strategic investors to offer satellite broadband services globally, a company statement notes. Mittal has a strong connection with the UK, as a member of the India-UK CEO Forum and has previously been awarded the Honorary Doctor of Civil Law from Newcastle University and an Honorary Doctor of Laws from the University of Leeds. He is also a member of the Vice Chancellor's Circle of Advisors at the University of Cambridge. Additionally, Sunil Bharti Mittal has served on the Governing Body of the London Business School (LBS) and as a Member of the India Advisory Group at the London School of Economics and Political Science (LSE). In 2019, Bharti's Airtel Africa was listed on the London Stock Exchange and is a constituent of the FTSE100 Index.

Bharti Enterprises chief Sunil Bharti Mittal knighted by King Charles III

<ul><li>The <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judge says gatekeepers of the app ecosystem – Apple and <keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> – are the new East India Company and they operate with complete arrogance and impunity.</li><li>Just as startup founders are coming under pressure, venture capitalists and auditors too need to be held accountable for their behaviour.</li><li><keyword id="20225195" type="General" weightage="20" keywordseo="shark-tank" source="keywords">Shark Tank</keyword> India has become a catalyst for driving entrepreneurship and giving it legitimacy. </li></ul> <keyword id="127971" type="General" weightage="100" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> is India’s original internet entrepreneur, who is the founder and CEO of People Group. Way before platform economy became a buzzword, Mittal built a platform for Indians seeking life partners. And even today one million Indians find their partners on shaadi.com every year. Call him the OG of startups or a serial entrepreneur, he is a man who does not mince words. In a free wheeling chat with Business Insider’s Malini Bhupta, Mittal talks about unfair trade practices of Google, his investment in Ola’s Bhavish Aggarwal and what he thinks is the biggest achievement of Shark Tank India. Edited Excerpts: With some high profile startups like Paytm and Byju’s coming under lens, what do you think is wrong with the startup ecosystem? I think the Paytm issue is a little different. There are two issues there in my view – one is valuation. The company came out with its IPO at the height of the unicorn boom and as a result, their valuation was corrected when the pvt. market corrected. This is part of the pricing game and one can hardly blame them for it. Eventually, they would have grown into their valuation is what I believe. However, the second issue which is regulatory in nature is far more serious. Whether it is justified or not I don’t know. I think there is a little heavy-handedness here as what you are talking about is a payments bank KYC stuff being the reason to shut them down, which could be seen as over-reach since they are not a significantly important lending institution. Talking about what is wrong with India’s ecosystem and why founders are behaving badly is a common issue that occurs when there are high levels of greed. When there is massive liquidity in the system people think they can take advantage of the situation. In the US you have seen Theranos, crypto frauds and an industry that was created around SPACs. Billions of dollars have been lost on that. What is happening in India is a small reflection of that. Greed manifests in two ways – one is the founders who are ambitious who see the ecosystem celebrating unicorns and that gets weaponised. Over time a few start with minor refractions and very soon they start fabricating revenues and manipulating auditors to keep up with the image that has been created. They are riding tigers they can't get off. The venture capitalists too want to see their investments being marked up as their future fund raises depend on the portfolio's net asset value and so they play along and at times actually drive the founders at a velocity that is unsustainable. I think they need to be held accountable by their LPs. Auditors have a very important role here and are perhaps the ones who need to pay the highest price through government censures. They are market participants who have been entrusted with a certain job for which they get paid hefty fees. When they start looking the other way, the system breaks. You have been waging a pitched battle against the unfair trade practices of Big Tech companies in India. What, in your view, are the steps that need to be taken by the government to prevent such unfair practices by large global players? Fundamentally the experience of the internet is through apps – two companies control the entire app ecosystem Google and Apple. Both operate with complete impunity. Two years ago the CCI passed an order against Google around <keyword id="963171" type="General" weightage="20" keywordseo="google-play" source="Orion">Google Play</keyword> Billing System (GPBS). Now they have changed the name to User Choice Billing. If you look at the order CCI says there will be no discrimination at all. Being on the App Store means nothing unless you advertise on Play Store. Startups spend anywhere between 10-50% of revenue on advertising on these platforms already. Essentially, the app store is worth nothing if you don’t have content. What choice does a company have but to adhere to their unfair practices… Now they say that any transaction that happens on apps downloaded via the store will be subject to 15-30% tax/commissions. What this means is that they want 50% of the revenues of the startups. It is the new East India Company and they operate with complete arrogance and impunity. The problem is in getting these companies to comply. Their strategy is to stretch out the legal process and tire the system. Our government and regulators have the right intent but sometimes democracies are messy. As a government, we have to ensure that nobody becomes the gatekeeper to our economy which is what these companies are trying to do. There should be penal provisions for anybody who abuses the law or twists and turns it while violating the very spirit of it. Non-compliance with judicial orders is contempt of court and so there is an opportunity to send a very strong message. These bullies need one arm chopped off in the form of penalties, a rap on the knuckles will not work as they are too big to care about a couple of hundred million in penalties. What is the biggest achievement of Shark Tank, which has now become a huge hit in India? In life timing is everything. Shark Tank’s first season was in December 2021, which was the peak of the startup hype cycle, and it demystified the whole conversation around startups and funding. Shark Tank has become a catalyst for driving entrepreneurship and giving it legitimacy. India is a land of entrepreneurs with every second person running some small business, many from home. A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious. The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem. A lot of companies have done very well. About 8-10 companies that got funded in Shark Tank are doing very well out of 180 companies that came to the show. This is an early stage game and will play out the same way. When you invest in 100 early stage companies, 4-5 will do very well and help recover the investments and some will become very big. A majority will fail. What I found amazing was that the companies that came to the show were not the elites who came from IIT or IIM. These are small businesses founded by housewives and family members. Entrepreneurship is not the reserve of the few. The next decade will be defined by Indian entrepreneurs globally and so there is no better time to be an entrepreneur than now. Shark Tank has put belief in every Indian that they can do it and that changes the game. Many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. I believe that these people understand commerce and ‘dhandha’. The elitist founders are used to being served everything on a platter. Many professionals who come out of large companies or consulting firms cannot start without large funding. Out of the 100 unicorns we have, many will spectacularly fail in 2024 as they were built on the wrong foundations. These companies were built on a template of Ivy League founders and old school networks and so they got funded. Of the businesses that come to Shark Tank, what sectors can do well and stand a better chance of being funded? Indians now have the same aspirations as people in other parts of the world. Anybody who comes in and can bridge the gap between aspiration and affordability will do well especially in lifestyle. For example - Companies in the clothing and jewellery space will do well if they can deliver high aspiration at a value pricing. Last year a company called Snitch came with a revenue of Rs 60 crore and is now doing Rs 250 crore in sales. A company called Skippy, which makes ice pops was funded on Shark Tank too and has a run rate of Rs 50 crore from a few lakhs before ST. I funded a company called Sharmaji Ka Atta which has a revenue run rate of Rs 20 lakh a month in less than 12 months from less than 1 lakh. Another one called Whatsapp Wellness just got funded by HUL. Fundamentally, companies that can build premium products but don’t break the bank on affordability in categories like fashion, lifestyle and food will do well. People read labels now and the young generation is focused on what they are eating. Beauty and wellness products will do well as a secular trend for most of our history Lakme meant beauty, that’s how unbranded we were. Do you feel Shaadi.com is still relevant after Tinder and other dating apps came about? Let’s understand why Tinder is used, it is for hookups and is struggling to grow its revenue in India. Shaadi.com is not an arranged marriage platform. Shaadi.com is a planned marriage platform. Indian culture has four stages of life and marriage is one of the life stages. When you are planning to marry you look for compatibility and it is not about a chemical reaction. On Shaadi.com the family and parents collaborate to find a partner. The old community networks are now dying and we replace those networks. We are bringing together people in the same life stage to find a like-minded partner. The hook-up sites don’t do that and don't understand the Indian ethos. They are applying the same global model to India which does not work beyond a certain point. You were the original internet entrepreneur with a disruptive product. Why did you not create a large business that went on to become a decacorn or a unicorn? It depends on how you define success. If the definition is labels such as decacorn and unicorn, then that's not the game we are playing. Those are vanity labels that I would rather not pursue. Our definition of success is value creation and we are long-term compounders, much like Berkshire &amp; LVMH, so in a sense our ‘overnight’ success story is still waiting to become obvious to the world. From that lens, our ROCE is perhaps the best in the industry we have only ever raised about $20 mn but created several billion in value between our operated and invested cos. Our investee companies employ thousands, have raised over $20 bn and will go on to create $100 bn in value over time, in the bargain generating tremendous wealth for the country and hopefully for us too. We boast an IRR of 52% consistently for more than a decade which is extraordinary by any standards and a testament to our approach and story. Many people build businesses but we were fortunate to create entire industries such as online matchmaking via Shaadi.com, which we still run; proptech company Makaan.com which we sold to NewsCorp very handsomely; India’s first &amp; still the largest digital ad agency, Interactive Avenues, which we sold to IPG at a benchmark price that is yet to be crossed; India’s first mobile gaming company, Mauj Mobile which spawned a massive industry. So, whether it is our customers, employees, shareholders, the country or society at large, I think we have already impacted 10s of millions and while we don’t have a market listed entity like Jio or TCS to show for it, we have delivered massive national and global level impact. Keep in mind that we are most often the first to check into investee cost and every company we have founded has been the first in its industry. Our innovations have generated billions of dollars in wealth and given rise to innumerable founders and entrepreneurs who have learnt at our companies and gone on to build massive companies of their own. Further, I am still very young and the Indian opportunity is only now unfolding. In the next couple of years, you will see some of our other bets in space exploration, mobility real edtech, &amp; sustainable fintech come into the limelight besides something very special we are building on our own. So, in short, I still remain the OG and if you force me to use your labels we have birthed not one or two but several Unicorns &amp; Decacorns and that too with very limited capital. It is perhaps one of the most spectacular untold stories of value creation in the digital economy. Ola is one company that is headed for an IPO and you own 2% in the company. How did that happen? When we invested in Ola, there was not much of a concept of venture funding and the company did not have any suitors so we were able to get in at a very attractive valuation and hold an extremely healthy minority stake which obviously has been diluted over time. I think the network effects are so large that it is hard for others to get into it. I am still a shareholder and looking forward to the initial public offering. I invested in 2012 and when I met Bhavish first, I did not understand the problem he was solving as I live in Mumbai where cabs are available. So I did not think there was a problem. A few days later when I was in Delhi and needed a cab, I was told that they would call a taxi stand. After I came back from Delhi, I realised there was a problem everywhere. And I used to call the call centre and Bhavish used to answer the call centre, which showed me his commitment and reminded me of myself when I had started and so I invested.

Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'

<keyword id="6442632" type="General" weightage="20" keywordseo="Sunil-Bharti-Mittal" source="Orion">Sunil Bharti Mittal</keyword>, Chairman of <keyword id="6406583" type="General" weightage="80" keywordseo="bharti" source="Orion">Bharti</keyword> Enterprises and founder of Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword> revealed a significant technological leap for <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> during his address at the 7th edition of the India Mobile Congress. Speaking to a captivated audience, Mittal declared, "A new technology is now available for our country. <keyword id="1552898" type="General" weightage="20" keywordseo="satellite-communication" source="Orion">Satellite communication</keyword> is here to serve every inch of our country and of course the globe." Mittal credited this achievement to the successful collaboration with ISRO (Indian Space Research Organisation), stating, "With your intervention, we were able to get two rockets GSLV Mk 3 from ISRO to launch 72 satellites last year." He went on to unveil the ground-breaking OneWeb constellation, in which Bharti holds the largest stake, now poised to serve both the nation and the entire world. Starting next month, India will witness an unprecedented era of connectivity, as Mittal proudly announced, "Anybody anywhere in the country, however remote or far or in difficult areas, can be connected from our Satellite ground station that has been set up in Mehsana, Gujarat." This technological advancement in satellite communication promises to bridge the digital divide in India, connecting even the most isolated regions, fostering development, and transforming the way the nation communicates. Mittal's announcement marks a pivotal moment for India's technological landscape, opening up a world of possibilities for connectivity, communication, and progress. The Chairman of Bharti Enterprises also spoke about how India's digital infrastructure can accelerate the World economy. "Two pillars are very important for IMC 2023...First was Digital India...You raised the slogan of JAM Trinity which was based on Jan Dhan, Aadhar and Mobile is being discussed across the world. Whether it is the World Bank, UN, WTO, African Union, European Nation, G20, OECD Countries, or BRICS, there is only one slogan, the Digital Infrastructure that India has built can accelerate the world economy, especially in those countries which have a lack of infrastructure...The second most important one is Make in India" Sunil Bharti Mittal said. The India Mobile Congress serves as a platform to showcase India's technological advancements and innovations while facilitating discussions on the nation's digital future.

Sunil Bharti Mittal announces satellite communication breakthrough for India at India Mobile Congress 2023

Prime Minister Narendra Modi on Friday said that India is moving towards becoming a leader in <keyword id="6319489" type="General" weightage="70" keywordseo="6g-technology" source="Orion">6G technology</keyword>, adding that the future is here and now. <keyword id="2238662" type="General" weightage="100" keywordseo="pm-modi" source="Orion">PM Modi</keyword> said this while inaugurating the <keyword id="4254251" type="General" weightage="80" keywordseo="Indian-Mobile-Congress" source="Orion">Indian Mobile Congress</keyword> (IMC). "We are not only expanding 5G in the country but also moving in the direction of becoming leaders in the area of <keyword id="7268171" type="General" weightage="70" keywordseo="6g" source="Orion">6G</keyword> technology. Everyone knows what happened during the 2G (referring to the spectrum allocation scam during the UPA regime). During our government, 4G was expanded but there was no stain on us. I am confident that India will lead the world in 6G technology," he said. The Prime Minister added that whether it is telecom, technology, or connectivity or whether it is 6G, AI, cybersecurity, semiconductors, drones or space sector, the future is going to be very different. "Within a year of the launch of 5G, nearly four lakh 5G base stations have been working today. They are covering 97% of the cities and more than 80% of the population," Modi said. Airtel chief <keyword id="6442632" type="General" weightage="40" keywordseo="sunil-bharti-mittal" source="Orion">Sunil Bharti Mittal</keyword>, chairman of Aditya Birla group <keyword id="6354955" type="General" weightage="40" keywordseo="kumar-mangalam-birla" source="Orion">Kumar Mangalam Birla</keyword> and Reliance Jio chairman <keyword id="6361416" type="General" weightage="40" keywordseo="akash-ambani" source="Orion">Akash Ambani</keyword> as well as telecom Minister <keyword id="7796574" type="General" weightage="40" keywordseo="ashwini-vaishnaw" source="Orion">Ashwini Vaishnaw</keyword> were also present on the occasion. Speaking further, PM Modi said that the world is using 'Made in India' phones while referring to the transformation which has taken in the recent past in the telecom sector. "Recently, Google has announced the manufacturing of its Pixel phone in India. Samsung's Fold 5 mobile phone and Apple's iPhone 15 are being manufactured in India. We are proud that the world is using Made in India mobile phones now," PM Modi said. India has become an exporter from a net importer, he added. "India has reached 43rd position in mobile broadband speed from the previous rank of 118," PM Modi said, adding that 2014 (when NDA came to power) is not a date, it is 'badlav' (change). Referring to various measures of the government, the Prime Minister said that access to capital, access to resources and access to technology is the government's priority. During the programme, PM Modi awarded 100 '5G Use Case Labs' to educational institutions across the country.

India moving towards becoming leader in 6G technology: PM Modi

<ul><li>92-year-old <keyword id="1860467" type="General" weightage="20" keywordseo="Lachman-Das-Mittal" source="Orion">Lachman Das Mittal</keyword> is <keyword id="3658" type="General" weightage="20" keywordseo="India" source="Orion">India</keyword>’s oldest billionaire with a net worth of $2.5 billion as per Forbes. </li><li>Mittal is the founder and chairman of <keyword id="813" type="General" weightage="80" keywordseo="sonalika" source="Orion">Sonalika</keyword> Group, India's third-largest tractor maker by market share and India’s largest tractor export brand. </li><li>The billionaire is a former LIC employee who holds a master’s degree in arts in English and Urdu languages.</li></ul>The founder of Sonalika Group, 92-year-old Lachman Das Mittal is now India’s oldest billionaire. As per the Forbes 2023 list, 99-year-old <a href="https://www.businessinsider.in/thelife/personalities/news/the-life-and-times-of-keshub-mahindra-indias-oldest-billionaire/slidelist/99428483.cms">Keshub</a> Mahindra, the former chairman of Mahindra &amp; Mahindra group was the oldest billionaire. Unfortunately, Mahindra passed away on April 12. India now has four nonagenarians among the country’s 169 billionaires, as per the list. Mittal is the founder chairman of Sonalika Group, India's third-largest tractor maker by market share. As per <a href="https://www.forbes.com/profile/lachhman-das-mittal/?list=billionaires&amp;sh=3708547e32d5">Forbes</a>, he has a net worth of $2.5 billion. He first entered the Forbes Billionaire list in 2013. <cmsannotation type="cmsannotation" annotationid="After his retirement…" comment="subhead2" text="After his retirement…">After his retirement…</cmsannotation> The 92-year-old started his business a little over three decades ago at the age of 60, after retiring from the state-owned Life Insurance Corporation (LIC) as a deputy zonal manager. The billionaire shows up to the office every day, even after his sons and grandsons look over the company’s operations. “We are not just sitting in some air-conditioned room and running the business…I and my boys know every inch of a tractor,” <a href="https://www.forbesindia.com/article/india-rich-list-2015/lachhman-das-mittal-tractor-master/41355/1">shared </a>the patriarch with Forbes. Born in August 1931 in Hoshiarpur, Mittal’s professional journey started as a LIC agent. After obtaining a Master’s in Arts degree in English and Urdu language from Punjab University, Mittal started working with LIC in 1955. Mittal, who obtained a gold medal during his post-graduation, was diligent at work, gaining knowledge about the different types of investments. Gradually, he started saving to pay off past debts and for securing his future. Though he wasn’t born with money, he managed to save enough to start a side venture in 1969 — building farm machinery under the name Sonalika. Unfortunately, the venture left him bankrupt. In an attempt to offset his losses, he tried to obtain a Maruti dealership but was rejected. <cmsannotation type="cmsannotation" annotationid="Poetry on wheels" comment="subhead2" text="Poetry on wheels">Poetry on wheels</cmsannotation> Undeterred, he forged on. Inspired by Japanese machines that separated hay and wheat, he built threshers, gaining <a href="https://www.news18.com/business/meet-lachhman-das-mittal-who-launched-sonalika-group-at-the-age-of-60-7510003.html">nationwide acclaim </a>for his product in just eight years. After <a href="https://www.forbesindia.com/article/india-rich-list-2015/lachhman-das-mittal-tractor-master/41355/1">retiring from his job in 1990</a>, he spent years writing and reading poetry in classical Urdu and working on Sonalika to build a tractor. The idea to build tractors actually came to him through his customers, who were eager to see a tractor from Sonalika. To carry out the requisite research and study to launch tractors, Mittal needed financing. Consequently, he secured a loan of ₹22 crore from his trusted dealers. Six years after he retired, in 1996, Sonalika Tractors was incorporated. Today, it’s the country’s largest exporter of tractors, associated with more than 14 lakh customers across 140 countries around the world. Mittal, who’s a fan of Bollywood movies and a coin collector, said while recounting his journey with Business Standard, "Once I applied for a dealership of Maruti Udyog but was rejected. Today, I give out dealerships." <cmsannotation type="cmsannotation" annotationid="Building his pot of gold" comment="subhead2" text="Building his pot of gold">Building his pot of gold</cmsannotation> Sonalika, which means ‘lines of gold’ in Hindi, is named after a popular line of wheat seeds that fuelled the Green Revolution in India, leading to greater production. The Sonalika Tractors were definitely Mittal’s pot of gold. Japanese firm Yanmar has a 30% stake in Sonalika Tractors. Today, the brand has an employee strength of over 10,000 and was <a href="https://www.sonalika.com/about-us.html">chosen </a>by the Indian government to contribute towards the Niti-Aayog project to double the farmer’s income in the country. Sonalika has been clocking over 1 lakh tractor sales consistently for six years (FY18 – FY23). It also recorded the highest annual growth of 41.6% in the domestic market during the pandemic (FY21) — significantly higher than the overall industry growth of 26.7%. The company has five manufacturing facilities across the globe, including the <a href="https://www.youtube.com/watch?v=rX-tPTIwVok&amp;ab_channel=ETAuto">world’s largest tractor-manufacturing facility </a>at Hoshiarpur in Punjab. Mittal’s elder son Amrit Sagar is the company’s vice-chairman, while his third son, Deepak is the managing director. Mittal’s second son is a doctor in New York. Interestingly, his daughter, Usha Sangawan, is LIC’s first female managing director. SEE ALSO:

India’s oldest billionaire started his business after retiring from LIC

<ul><li><keyword id="15491" type="General" weightage="80" keywordseo="airtel" source="Orion">Airtel</keyword> currently has the best ARPU in the Indian telecom sector at ₹193, but it is still significantly lower than the ₹300 the company<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtels-ceo-wants-vodafone-idea-to-survive-and-stay-on/articleshow/73973990.cms"> has said is the minimum ARPU necessary to ensure reasonable return on capital.</a> </li><li>Airtel chairman Sunil Bharti Mittal said he hopes for a tariff hike by mid-2023. </li><li>Airtel is betting on multiple factors to drive ARPU growth – raising base tariffs in select circles, focussing on increasing postpaid coverage in its top towns, and rising usage of 5G-capable smartphones. </li></ul>A ramp up in postpaid subscribers and 5G-powered premiumisation are expected to drive growth for India’s No. 2 telecom company Bharti Airtel, especially at a time when tariff hikes have not rolled in as expected. Airtel’s continued expansion of 5G services across the country is expected to drive up data usage, leading to premiumisation. While Airtel started tentatively experimenting by hiking tariffs of its base ₹99 plan offering in select circles in November last year, it has still not increased prices across the board. This has resulted in muted growth in Airtel’s average revenue per user (ARPU), a key metric to understand a telecom company’s performance. In the December quarter, Airtel’s ARPU grew by a meagre 1.6% sequentially. However, now that 5G is here and Airtel has rolled it out in 108 cities across the country with a target of covering all major cities by the end of this year, analysts expect it to result in a much-needed ARPU boost as data consumption is higher on 5G than 4G. “We expect robust mobile revenue growth, and ARPU to rise, driven by subscriber migration from 2G to 4G, subscriber migration to higher bucket data plans due to a surge in data usage, gains in high-value postpaid subscribers, and segmented tariff hikes,” said a report by HSBC. For context, Airtel’s postpaid subscriber base increased to 19 million in Q3 FY23, from 17.6 million in the same period last year. It also added more postpaid subscribers in the December quarter (at 6.53 lakh) than in the previous two quarters combined (at 5.32 lakh). <cmsannotation type="cmsannotation" annotationid="Here’s what will drive ARPU growth going forward" comment="subhead" text="Here’s what will drive ARPU growth going forward">Here’s what will drive ARPU growth going forward</cmsannotation> In an analyst call, Airtel underlined multiple factors that will drive its ARPU growth going forward, including – raising base tariffs in select circles, focussing on increasing postpaid coverage in its top towns, and a fifth of its total subscribers having 5G-capable smartphones by the end of FY24. According to analysts at HSBC, Airtel hiking the base plan tariff from ₹99 to ₹155 in 17 out of 22 circles is another positive contributor to ARPU growth. The telco also underlined that the top 150 towns in the country account for 40% of the total industry revenue. To drive its revenue growth, Airtel said it would focus on these towns in terms of expanding its postpaid subscriber base, attracting subscribers with its 5G availability. According to an analysis by HSBC, postpaid ARPUs stand at 1.6-1.7x that of prepaid, and Airtel’s focus on increasing its postpaid subscriber base augurs well for ARPU growth. Lastly, Airtel also said that it expects 20% of its subscribers to have 5G-capable devices by the end of March 2024. The telco has a target of reaching 300 cities by then, and analysts<a href="https://m.economictimes.com/industry/telecom/telecom-news/airtel-jio-target-100-150-million-5g-conversions-by-march-2024/articleshow/96837399.cms"> expect</a> high data allowances to lure existing subscribers into converting to 5G. <cmsannotation type="cmsannotation" annotationid="Airtel chairman hints at tariff hike by mid-year" comment="subhead" text="Airtel chairman hints at tariff hike by mid-year">Airtel chairman hints at tariff hike by mid-year</cmsannotation> Analysts have been <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-and-reliance-jio-could-hike-tariffs-by-as-much-as-10-according-to-analysts/articleshow/96375427.cms">expecting tariff hikes</a> for a few months now but the hikes have been slow to materialise. Now, Airtel chairman Sunil Bharti Mittal has said that a tariff hike is likely by mid-2023. “Lot of capital has been injected that has made the balance sheet strong but the return on capital of this industry is very low. That needs to change. We are talking of small increments that need to come in the Indian tariff situation. I hope half (by mid) of this year,” Mittal said at the ongoing Mobile World Congress in Barcelona, Spain, responding to a PTI query. Although Airtel’s ARPU at ₹193 is the best in the industry, it is still significantly lower than the ₹300 the company<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtels-ceo-wants-vodafone-idea-to-survive-and-stay-on/articleshow/73973990.cms"> has said is the minimum ARPU necessary to ensure reasonable return on capital.</a> Responding to a query on the impact of tariff increase on people at the bottom of the pyramid, <a href="https://www.moneycontrol.com/news/tags/sunil-bharti-mittal.html">Mittal</a> said the hike would be low compared to people’s spending on other things and disagreed that they will be impacted. "Salaries have gone up, rents have gone (up), except one thing. There is no one complaining. People are consuming 30 GB for almost paying nothing. We don't have more Vodafone type scenarios in the country,” Mittal added, underlining the need for tariff hikes. <cmsannotation type="cmsannotation" annotationid="Data usage and subscribers on the rise" comment="subhead" text="Data usage and subscribers on the rise">Data usage and subscribers on the rise</cmsannotation> In its Q3 FY23 earnings,<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-q3-net-profit-jumps-91-to-1588-crore-misses-estimates/articleshow/97698481.cms"> Airtel reported</a> data usage of 20.8GB per user per month during the quarter, increasing from 18.7GB during the same period a year ago – this is a 11% increase year-on-year. Another shot in the arm for Airtel during the quarter was a healthy addition of data users – the telco reported an increase of 6.4 million data subscribers sequentially and 21.2 million year-on-year. Airtel’s 4G subscribers as a percentage of its total subscribers also witnessed an improvement in the December quarter, increasing to 65% from 61% a year ago. The rise in 4G subscribers also reflects in the ARPU growth on a year-on-year basis, which rose to ₹193 in Q3 FY23, from ₹163 in Q3 FY22. Put together, wider 5G availability, converting existing subscribers to 5G by luring them with higher data allowances, focussing on the top 150 towns and targeting postpaid subscriber growth should help Airtel deliver ARPU improvements. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-to-continue-driving-auto-sales-in-february-evs-gain-a-stronghold/articleshow/98272857.cms">Passenger vehicles to continue driving auto sales in February, EVs gain a stronghold</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-to-raise-2500-crore-fresh-capital-convert-carlyles-debt-into-equity-and-demerge-cargo-biz/articleshow/98270557.cms">SpiceJet to raise ₹2,500 crore fresh capital, convert Carlyle’s debt into equity and demerge cargo biz</a> <a href="https://www.businessinsider.in/india/news/elephant-will-not-march-but-run-powered-by-private-consumption-union-amc/articleshow/98182584.cms">Elephant will not march but run, powered by private consumption: Union AMC</a>

Airtel’s ARPU improvements to be driven by postpaid subscribers and 5G-powered premiumisation

Recent research from the Indian dating app <keyword id="4932381" type="General" weightage="50" keywordseo="quackquack" source="Orion">QuackQuack</keyword> sheds light on how <keyword id="4550079" type="General" weightage="100" keywordseo="genz" source="Orion">GenZ</keyword> and Millennial daters have different relationship habits. 10,000 users of the dating and friendship app who are between the ages of 18 and 35 and are both working workers and students were polled from Tier 1 and Tier 2 cities. The study reveals that both generations, despite significant differences in their dating habits, prefer online dating to its conventional counterpart. However, GenZ took the top spot, with nearly 59 percent of participants under the age of 23 choosing dating apps as their preferred method of meeting someone, compared to 4 percent of Millennial daters. Some Millennial daters are using matrimonial websites, but some still prefer old-fashioned meet-cutes and buddy introductions. Casual vs Serious 43 per cent of the Millennial daters on the platform mentioned using the app to find genuine relationships to commit to; they are not interested in casual dating. For most of these daters, it is due to their growing age. While studying the younger generation, it found that 54 per cent of the daters are interested in serious relationships and casual dating based on what kind of person they are meeting online. They are curious, and they want to explore before settling down. Almost 31 per cent of daters between 18 to 22 are trying out speed dating. The survey answers dictated that GenZ daters prefer talking to multiple people at a time. Ghosting is <keyword id="1249150" type="General" weightage="50" keywordseo="immature" source="Orion">Immature</keyword>, says Millennials It found that 23 per cent of GenZ from tier 1 and 2 cities perceive ghosting to be much less offensive as opposed to 32 per cent of Millennial daters who find the trend utterly immature and disrespectful. While the millennials say that people should take accountability and have the courage to say things are not working out, GenZ daters opined that it is better to avoid awkward conversations. Shared values are crucial for GenZ The poll shows that when it comes to shared values and matching outlooks toward life, Millennials are more relaxed and accepting than GenZ daters. 36 percent of female GenZ daters disclosed that they wouldn't consider matching with someone with opposing views on the core ideals and moral values. The study shows Genz daters have strong opinions and are reluctant to look at others' perspectives; similar tastes and matching vibes play a crucial role in their decision-making process. According to the app's data, 52 percent of GenZ daters don't match with people with differing standpoints on Green Issues. 42 per cent of Millennial daters say they believe in giving people a chance. Differing beliefs don't always mean conflicts; they can also help you broaden your horizon and learn more if you keep an open mind. GenZ daters are looking for friendship The survey shows GenZ users in the app are not afraid to be single. In fact, 27 per cent of male users below 23 are using the app to find genuine friendships, compared to 39 per cent of Millennial men looking for love. These young daters are often seen casually chatting online with their matches without intending to get exclusive with them. The results also show that slow dating, i.e., taking your sweet time to make an informed choice, is more prevalent among GenZ daters than Millennials. Almost 34 per cent of GenZ daters get to know their match from different social media platforms before meeting them in person. Who's better on First Dates? When it comes to first-date etiquette, Millennial women from tier 1 and 2 cities are leading. 29 per cent of these women always offer to split the bill on a first date, compared to only 12 per cent of GenZ women suggesting the same. But while choosing a spot for first dates, survey data shows that 26 per cent of GenZ female daters from tier 1 and 2 cities picked someplace moderately affordable compared to 2 per cent of Millennial women, who leaned toward fancy restaurants and cafes. The realist vs The romantic GenZ daters are more realistic about love than Millennials. 37 per cent of GenZ users, mostly students, said they don't believe in soulmates or a "forever" kind of love. They pick matches, looking at their outfit, charisma, and sense of style, or GenZ calls them fit, rizz and drip. What OTT shows you loved to what celebs you follow on social media platforms can make or break your chances to be picked by a GenZ dater. If you want to make it as a GenZ dater, you have no place to be last season, is what most of the survey participants between 18 to 22 told QuackQuack. On the other hand, 39 per cent of Millennial male and female users called themselves "hopeless romantics." Living "happily ever after" still exists in their scheme of things. QuackQuack's Founder and CEO, <keyword id="1854039" type="General" weightage="50" keywordseo="ravi-mittal" source="Orion">Ravi Mittal</keyword>, commented, "In the past few years, we have seen an increase in the number of signups from users between 18 and 22. We noticed a massive difference in the dating patterns of the two generations. Millennials on our app are more conservative and are mostly looking for serious relationships. GenZ users are casually chatting, making new friends from across the country besides dating." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/sixty-five-impersonators-held-during-up-board-exams/articleshow/98168335.cms">Sixty-five impersonators held during UP board exams</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/the-popes-exorcist-trailer-is-out-russell-crowe-promises-true-blue-horror/articleshow/98171830.cms">'The Pope's Exorcist' trailer is out, Russell Crowe promises true-blue horror</a>

You Searched For "mittal" and got 11 results

In a win for Elon Musk, Scindia says no to spectrum auction pitch from Ambani, Mittal

PTI

Satellite 'magic bullet' to connect the unconnected; offers opportunity to cover areas left out: Sunil Mittal

PTI

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BI India Bureau

Successful companies started by senior citizens

Kapil Yadav

Bharti Enterprises chief Sunil Bharti Mittal knighted by King Charles III

PTI

Anupam Mittal hits out at Google — 'Tech bullies need one arm chopped off in the form of penalties'

Malini Bhupta

Sunil Bharti Mittal announces satellite communication breakthrough for India at India Mobile Congress 2023

ANI

India moving towards becoming leader in 6G technology: PM Modi

IANS

India’s oldest billionaire started his business after retiring from LIC

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Airtel’s ARPU improvements to be driven by postpaid subscribers and 5G-powered premiumisation

Rounak Jain

Ghosting is immature believe millennials says a study by QuackQuack

IANS

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