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In a surprising turn of events, <keyword id="20137391" type="General" weightage="100" keywordseo="Nikhil-Kamath" source="keywords">Nikhil Kamath</keyword>, co-founder of India's biggest discount brokerage firm <keyword id="19913826" type="General" weightage="20" keywordseo="Zerodha" source="keywords" meta.keywordsubtype="org" meta.entityname="Zerodha" meta.hostid="261" meta.entityid="Zerodha">Zerodha</keyword>, left the internet divided by purchasing a house, despite recently having advocated voraciously for renting property in his popular podcast "WTF." Comedian Sonali Thakkar Desai took to X (formerly Twitter) to highlight this U-turn, noting that "Nikhil Kamath has bought a house after advocating for so long about how “renting is the best; only fools would buy property." So let this be a lesson to literally everyone who listened to him or any other finance bro and based their real estate decisions on rubbish reels." She further added that "Mutual funds and Nikhil Kamath's opinions are subject to market risk". Kamath, who has a net worth of $3.1 billion, acknowledged that a lack of control over one's living situation is one of the biggest drawbacks of renting, noting a personal incident where he had to unwillingly and unexpectedly move out of a house. However, he maintained his skeptical attitude toward real estate as an investment, calling it illiquid and arbitrarily priced in the high-end housing market. Kamath also highlighted that due to the sky-scraping costs associated with buying property, like stamp duties of 5-6% on property transactions, it is not economically feasible to frequently buy and sell real estate, as opposed to other asset classes like gold, stocks, and more. On his podcast, Kamath also highlighted that renting does not always translate into a profitable business. "I think nobody makes money from buying and renting a place. You do not have occupancy throughout the year for something like AirBnB. Accounting for inflation and interest rates, the return on this investment is negligible," he said. Kamath's decision has reignited the never-ending debate between renting and buying property. While some social media users pointed out that for the wealthy, the choice between renting and buying is largely inconsequential, others emphasized the immense emotional and stability benefits that came along with homeownership. Kartik Rangappa, who heads Zerodha's Varsity, recently tweeted that it is okay to keep the math and Excel sheets behind buying a house aside if it gives you a sense of security and peace of mind. "Owning a house versus renting is an endless debate often backed by elaborate excel sheet math. Keep the math aside and buy a home if it make you feel secure and gives you peace of mind. Peace of mind &gt;&gt; Excel sheet math," he tweeted on October 16, 2024. There is no denying the fact that owning a house is an expensive affair and a long-term financial commitment as well. Recent report from FICCI and ANAROCK suggest that the average budget range for a 2BHK in Gurgaon is anywhere between Rs 90 lakh and Rs 1.3 crore. Getting a 2BHK in Noida, another prominent satellite town of Delhi, can cost up to Rs 85 lakh to Rs 1.20 crore. As it is, with the central bank not looking to cut rates anytime soon, home loan interest rates are set to remain elevated, meaning higher EMI outflows from your pockets if you are looking to buy a home in the present environment.

Billionaire broker Nikhil Kamath buys home, leaves internet debating on renting vs. owning a house

Famous Indian sibling duos who made their mark

<keyword id="12986120" type="General" weightage="100" keywordseo="pluckk" source="Orion">Pluckk</keyword>, a digital lifestyle-oriented fresh food brand in the fruits and vegetables (F&amp;V) space, on Tuesday announced the acquisition of <keyword id="17302404" type="General" weightage="80" keywordseo="kook" source="Orion">KOOK</keyword>, an Indian food-tech startup that offers a range of DIY meal kits, at a deal value of USD 1.3 million. The acquisition was through a combination of cash and equity, the company said in a statement. KOOK offers do-it-yourself (DIY) ready-to-cook meal kits that make cooking easier for everyone by providing pre-portioned ingredients and easy-to-follow recipes. With a reputation for catering to various dietary preferences and cooking skills, KOOK has a strong presence in Delhi and Mumbai. "With KOOK's strong target audience and expertise in meal kits, Pluckk is well-positioned to deliver the best quality fresh food to end-consumers in this thriving USD 15 billion market," it said. Speaking on the acquisition, Nelson D'Souza, CFO, Pluckk, said, KOOK's demonstrated expertise in building a world-class product in the meal-kit space, coupled with Pluckk's commitment to provide safe and chemical-free produce, will enable offering an unbeatable farm-to-fork experience to customers across India. "In the post-covid world, ready to cook meal kits have emerged as a sought after cooking trend with customers preferring to control the quality of food consumed while having more dining options which we look to leverage by offering this differentiator to our customer experience. "Further, from a unit economics point-of-view, this is a welcome addition to our portfolio and will help us accelerate our journey towards building a profitable business," he said. Pluckk's acquisition of KOOK is a strategic move to tap into the enormous growth potential of the meal kit market and presents significant opportunities for Pluckk, the statement said. The global market is projected to grow from USD 15.21 billion in 2021 to USD 31.5 billion by 2025, representing a 20 per cent CAGR. "The synergies between what we are building at KOOK and the lifestyle-first approach that Pluckk brings to the fruits and vegetables category seems very compelling. "Our range of DIY meal kits, combined with Pluckk's digital lifestyle-oriented brand, will allow us to offer even more convenience and healthy meal options to the discerning customers in the ever-growing markets Pluckk operates in," KOOK, co-founder, Arpitta Jerath said. KOOK, co-founder, <keyword id="17302405" type="General" weightage="50" keywordseo="nikhil-thatai" source="Orion">Nikhil Thatai</keyword> said, "We estimate the market size of meal kits to be around USD 1 billion by 2025 in India and we look forward to leveraging our expertise in meal kit delivery to offer healthy and delicious meal options to cater to this booming market in our country." KOOK is a DIY meal kit startup founded by ISB alumni <keyword id="2300" type="General" weightage="50" keywordseo="nikhil" source="Orion">Nikhil</keyword> and Arpitta in 2020. With presence across Delhi &amp; Mumbai, KOOK was started with a mission to make at home cooking hassle free and easy. Pluckk offers a farm-to-fork product line for health-conscious consumers, featuring safe and chemical-free produce through their ozone wash and traceability program. Customers can shop based on food trends such as gut health, heart health, and diabetes, and access a wide range of products beyond the basics, including organic and exotic produce. Pluckk's products are available on their own direct-to-consumer (D2C) platform and partner platforms like Blinkit, Swiggy, Zepto, Dunzo, and Amazon. Co-founded by Pratik Gupta and seed-funded by Exponentia Ventures (EV) with current operations in Bangalore and Mumbai, Pluckk offers a large variety of special selections of gourmet fruits and vegetables directly to end-consumers, doing away with mediators. The platform has already on boarded 500 plus farmers across Mumbai and Bengaluru and plans to reach the 1,000-mark in the next 6 months. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/april-auto-sales-maruti-suzuki-flags-decline-in-bookings-in-april-electric-two-wheelers-lose-momentum-due-to-fame-ii-irregularities/articleshow/99927888.cms">April Auto Sales: Maruti Suzuki flags decline in bookings in April, electric two-wheelers lose momentum due to FAME-II irregularities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-tvs-motor-eicher-motors-stock-rise-but-tata-motors-hero-motorcorp-down/articleshow/99927773.cms">Tata Motors, Hero MotoCorp stocks slip after April sales disappoint; Maruti Suzuki, TVS Motor, Eicher Motors rise</a>

Foodtech startup Pluckk acquires 100% stake in meal kit brand KOOK

Indian e-cycle startup <keyword id="15984550" type="General" weightage="80" keywordseo="gear-head-motors" source="Orion">Gear Head Motors</keyword> has secured investment from Aman Gupta, the founder of Boat, and Piyush Bansal of Lenskart on Shark Tank India. This is a major endorsement for GearHead, which has quickly become a major player in the transportation industry with its innovative and sustainable approach to electric vehicles. Founded in 2020 by <keyword id="15984552" type="General" weightage="50" keywordseo="nikhil-gunda" source="Orion">Nikhil Gunda</keyword> and Meher Sai, Gear Head Motors has made a name for itself by designing over 70% of its components in-house and assembling electric cycles tailoring to the specific needs of Indian commuters. GearHead Motors has launched four e-bike models - L. I. F. E - to solve urban commuting problems on the go. With research dating back to as early as 2015, <keyword id="2300" type="General" weightage="80" keywordseo="nikhil" source="Orion">Nikhil</keyword> and Meher, the co-founders of Gear Head Motors, have a deep understanding of the electric vehicle market and a commitment to testing and evaluating their products in real-world conditions. Their dedication to innovation and sustainability has helped Gear Head Motors grow from a small startup with an initial investment as low as Rs. 16,000 to a 35 crore-worth company in just four years. Since its inception, Gear Head Motors has delivered more than 8,000 tricycles and over 5,000 e-bikes. The company aims to bridge the gap between the global supply of electric vehicles and the needs of Indian customers and build an ecosystem that supports sustainable mobility in the future. Aman Gupta, who invested in Gear Head Motors through Shark Tank India, praised the company's founders for their dedication and expertise in the industry. Our sources revealed Aman's insight on GHMEV, "I am really impressed with the design of the e-cycle and happy to be investing in GearHead Motors. The founders have a clear market insight and I am excited to see what they can accomplish with the support." <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword>, also an investor in Gear Head Motors, added: "With Nikhil and Meher's experience and expertise in the Electric Vehicle sector, I am confident that they will be able to steer the industry with their 10X business idea and their 10X entrepreneurial journey. I am glad to be a part of GHMEV. Let's together grow the business. Speaking of the investments, "We are thrilled to have the support of Aman and Peyush as we continue to grow and innovate in the EV space," said Nikhil Gunda, co-founder of Gear Head Motors. "With this funding, we will be able to expand our operations and bring even more electric bikes to the market, helping to support sustainable mobility in India." According to Nikhil and Meher, the key to success in the electric vehicle industry is more than just technology. "EV is not just about Lithium Ion batteries," they said. "EV is an infrastructure, that is building trust and acceptance in the communities." Previously, Gear Head Motors raised 6 crores in a pre-seed funding round led by Hemin Shah and <keyword id="15984551" type="General" weightage="50" keywordseo="sudhakar-moparthy" source="Orion">Sudhakar Moparthy</keyword>. The company focuses on expanding the startup's operations in India and other Asian countries. As the demand for electric vehicles continues to grow in India and around the world, Gear Head Motors is poised to play a major role in shaping the future of transportation. With its strong foundation and ambitious plans for the future, Gear Head Motors is well on its way to becoming a leader in the e-cycle industry. The company's success on Shark Tank India is a testament to its potential for future growth. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/shark-tank-s2-girgit-that-sells-colour-changing-clothes-shoes-and-more-raises-funds/slidelist/96767200.cms">Shark Tank S2: Girgit that sells colour changing clothes, shoes and more raises funds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-will-be-in-the-hot-seat-on-rajat-sharmas-show-aap-ki-adalat-on-saturday/articleshow/96785740.cms">Gautam Adani will be in the hot seat on Rajat Sharma's show 'Aap Ki Adalat' on Saturday</a>

Shark Tank India: Gear Head Motor rides high, secures funding from Aman Gupta and Peyush Bansal

Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22

As mobile manufacturers recycle valuable components like gold, copper, silver, and palladium taken from discarded devices, experts have warned that roughly 5.3 billion mobile/smartphones will drop out of use this year, a majority of them disappearing into drawers, closets, cupboards and garages at homes, or tossed into waste bins. Average household today contains 74 e-products such as phones, tablets, laptops, electric tools, hair dryers, toasters and other appliances (excluding lamps), according to a new global survey. Of that 74 average total e-products, 13 are being hoarded (9 of them unused but working, 4 broken). Mobile phones rank 4th among small products most often hoarded by consumers, according to the results of surveys conducted to reveal why so many households and businesses fail to bring waste electrical and electronic equipment (WEEE) in for repair or recycling. The surveys were conducted from June to September, 2022 by the members of the <keyword id="15249364" type="General" weightage="80" keywordseo="weee-forum" source="Orion">WEEE Forum</keyword> and the results were consolidated by the UN Institute for Training and Research (UNITAR) Sustainable Cycles (SCYCLE) Programme. "We focused this year on small e-waste items because it is very easy for them to accumulate unused and unnoticed in households, or to be tossed into the ordinary garbage bin. People tend not to realise that all these seemingly insignificant items have a lot of value, and together at a global level represent massive volumes," said <keyword id="15258300" type="General" weightage="80" keywordseo="pascal-leroy" source="Orion">Pascal Leroy</keyword>, Director General of the WEEE Forum. "Providing collection boxes in supermarkets, pick up of small broken appliances upon delivery of new ones and offering PO Boxes to return small e-waste are just some of the initiatives introduced to encourage the return of these items," Leroy added. Meanwhile, LED lamps rank tops the list of products most likely to be trashed. Total global stock of mobile phones (in use and hoarded) is around 16 billion. In 2022 alone, small EEE items such as cell phones, electric toothbrushes, toasters and cameras produced worldwide will weigh an estimated total of 24.5 million tonnes -- four times the weight of the Great Pyramid of Giza. "These small items make up a significant proportion of the 8 per cent of all e-waste thrown into trash bins and eventually landfilled or incinerated," said <keyword id="15258301" type="General" weightage="80" keywordseo="magdalena-charytanowicz" source="Orion">Magdalena Charytanowicz</keyword> of the WEEE Forum in charge of International E-Waste Day. "These devices offer many important resources that can be used in the production of new electronic devices or other equipment, such as wind turbines, electric car batteries or solar panels - all crucial for the green, digital transition to low-carbon societies," <keyword id="15258302" type="General" weightage="80" keywordseo="charytanowicz" source="Orion">Charytanowicz</keyword> added. <keyword id="13875420" type="General" weightage="80" keywordseo="nikhil-seth" source="Orion">Nikhil Seth</keyword>, UNITAR's Executive Director said that UNITAR is proud of this new course on e-waste management "as an outstanding example of how to use scientific findings in a practical way for international training and capacity building in an area of critical environmental importance". SEE ALSO:

5.3 bn mobile phones will become waste this year, warn experts

Director Chandoo Mondeti's mystery action-adventure film, '<keyword id="1729397" type="General" weightage="100" keywordseo="karthikeya" source="Orion">Karthikeya</keyword> 2', which emerged as a blockbuster in theatres, seems to be continuing its success streak on <keyword id="1245953" type="General" weightage="20" keywordseo="OTT" source="Orion">OTT</keyword> as well, witnessing a whopping 100 crore viewing minutes in a matter of just 48 hours! <keyword id="6245082" type="General" weightage="20" keywordseo="ZEE5" source="Orion">ZEE5</keyword>, the video streaming platform which premiered the film on <keyword id="6494550" type="General" weightage="20" keywordseo="dussehra" source="Orion">Dussehra</keyword>, has now announced that the film had emerged as a huge success. The platform claimed that the film had garnered 100 crore viewing minutes across languages and states within 48 hours of streaming on the platform. Produced by Abhishek Agarwal Arts and <keyword id="6780267" type="General" weightage="50" keywordseo="people-media-factory" source="Orion">People Media Factory</keyword>, 'Karthikeya - 2' navigates through protagonist Karthikeya's pursuit of the truth. It leads him to find out the power of the ancient Indian belief system and the Tatva of Lord Sri Krishna. ZEE5 <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> Chief Business Officer Manish Kalra said, "We are overwhelmed with the response that 'Karthikeya 2' has received in 48 hours on the platform. It's a great milestone to have crossed." Director Chandoo Mondeti added, "'Karthikeya 2' is really close to my heart. We wanted this film to reach a global audience as it highlights Hindu mythology which reflects India's splendid diversity. "It was possible only with ZEE5's reach. The whole team has put in a lot of effort to make it a success and I am glad that it's paid off not only in theatres but also with its digital premiere. The film has achieved another milestone of crossing 100 crore viewing minutes in 48 hours which is a cherishable moment for all of us." Actor <keyword id="1590418" type="General" weightage="50" keywordseo="nikhil-siddhartha" source="Orion">Nikhil Siddhartha</keyword> said, "I am extremely delighted with the love that the audience has showered on 'Karthikeya 2'. It is a surreal moment for me. "When we started this project, we had never imagined it would receive such an overpouring of love and support. But I am genuinely overwhelmed with the response that the film has received during its theatrical release as well as with its World Digital Premiere on ZEE5. "Since its release on the platform, I have been receiving so many messages and comments from the fans appreciating my character and the film. I am forever grateful to them and happy that the film has struck a chord with them." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/opening-new-innings-shikhar-dhawan-will-be-seen-in-double-xl/articleshow/94781583.cms">Opening new innings: Shikhar Dhawan will be seen in 'Double XL' </a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/amitabh80-still-a-delight-keeps-getting-better-say-directors-old-and-new/articleshow/94776251.cms">Amitabh@80: Still a delight, keeps getting better, say directors old and new</a>

'Karthikeya 2' hits 100 crore viewing minutes in 48 hours on OTT

More than two-thirds of blue-collared employees in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> earn less than Rs 15,000 per month, according to a report on Thursday. The report by payroll management app <keyword id="12550203" type="General" weightage="80" keywordseo="salarybox" source="Orion">Salarybox</keyword> stated that females in the workplace made Rs 12,398 on average, which was 19 per cent less than their male colleagues, which brings forth the country's wide gender pay disparity. The data also highlights that less than 15 per cent of the employee base earns in the range of Rs 20,000-40,000 per month (on an average Rs 25,000), calling attention to the fact that a vast majority of Indians have difficulties securing even a livable wage. Interestingly, the majority of firms pay wages below the minimum wage set by the <keyword id="333370" type="General" weightage="80" keywordseo="central-pay-commission" source="Orion">Central Pay Commission</keyword> (CPC), that is Rs 18,000 per month. The report is based on a database of over a million employed workforce from more than 850 districts around the country. "For a long time, the topic of jobs, or rather, the lack thereof, has dominated India's economic discourse. While the headline employment/unemployment numbers get a lot of attention, another set of numbers that is equally significant, who gets paid how much, doesn't get nearly as much attention. It is high time that the companies bring in interventions that highlight this huge gap," said <keyword id="5098632" type="General" weightage="80" keywordseo="nikhil-goel" source="Orion">Nikhil Goel</keyword>, CEO &amp; Co-Founder of SalaryBox, in a statement. The report also found that only 27 per cent of the workforce is made up of women, whereas 73 per cent of the workforce is made up of men. Employees working at supermarkets, <keyword id="14390477" type="General" weightage="20" keywordseo="grocery/kirana/general-stores" source="Orion">grocery/kirana/general stores</keyword> as well as the garments/textile industries are paid at the lower end of the scale, with an average monthly <keyword id="10876" type="General" weightage="20" keywordseo="salary" source="Orion">salary</keyword> of Rs 8,300. Logistics and transport, IT software, and tailoring /boutiques emerge as the businesses that pay the most to females, with primary roles being of telecallers, documentation executives, and recruitment associates. "Economic development is still not translating into enough jobs for the yearly influx of educated young people entering the workforce. A much bigger proportion of Indians work in the informal sector, and they have been hit hard in recent months by increasing inflation, particularly in food prices," Goel said.

More than half of India's blue-collared employees suffer unequal wage access, earn below ₹15K per month: Report

<ul><li>All the four brands have a combined market size of ₹1800 crore and accounted for as much as ₹33 crore in revenues in FY22.</li><li>The pharma company will take over the manufacturing, marketing and distribution of these brands in India.</li><li>The integration and transition of the brands are expected to be completed in the next two weeks.</li></ul>KKR-backed <keyword id="505502" type="General" weightage="80" keywordseo="jb-chemicals-and-pharmaceuticals" source="Orion">JB Chemicals and Pharmaceuticals</keyword> said that it acquired four pediatric brands — Z&amp;D, Pedicloryl, Pecef and Ezinapi from <keyword id="177825" type="General" weightage="20" keywordseo="Dr-Reddys-Laboratories" source="Orion">Dr Reddy’s Laboratories</keyword>. The acquisition has been done for a cash consideration of ₹98.3 crore, excluding working capital and taxes. All the four brands have a combined market size of ₹1800 crore and accounted for as much as ₹33 crore in revenues in FY22. “Overall, the brands acquired have significant growth potential to strengthen our already established presence in the pediatric category, which is synergistic to our current portfolio, speciality depth and geographical presence,” said <keyword id="1217" type="General" weightage="80" keywordseo="nikhil-chopra" source="Orion">Nikhil Chopra</keyword>, CEO at <keyword id="5340080" type="General" weightage="20" keywordseo="JB-Pharma" source="Orion">JB Pharma</keyword>. Z&amp;D produces zinc supplements used for boosting immunity. Pedicloryl oral solution is used in children in hospitals for idiopathic pain management. Pecef caters to the bacterial infections as well as respiratory tract infections in children. Ezinapi cream is used as an emollient for diaper rashes in infants. JB Pharma will take over the manufacturing, marketing and distribution of these brands in India. “It will also help us significantly leverage our on-the-ground field force strength and widen our offerings in the pediatric basket - comprising gut health and respiratory infection products for healthcare professionals across the country,” said Chopra. The integration and transition of the brands are expected to be completed in the next two weeks. “All the four brands have a lion’s share in their respective spaces. We will continue to focus on evaluating opportunities for strengthening our India domestic business,” Chopra added. According to media <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/jb-pharma-acquires-paediatric-brands-from-dr-reddys-for-rs-98-3-crore/articleshow/92590368.cms">reports</a>, the pharma company has been looking out for companies to acquire in the domestic market. It had also acquired brands from Sanzyme — which deals in probiotics and reproductive health for ₹628 crore in January. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ambani-and-adani-valuations-surge-while-tatas-birlas-see-major-declines-in-the-first-half-of-2022/articleshow/92593235.cms">Ambani and Adani valuations surge while Tatas, Birlas see major declines in the first half of 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-gear-firm-parallel-wireless-lays-off-500-employees-including-in-india/articleshow/92592940.cms">Telecom gear firm Parallel Wireless lays off 500 employees including in India</a>

JB Pharma acquires four pediatric brands of Dr Reddy’s Labs for ₹98.3 crore

<ul><li>With the end of the year just round the corner, we bring you our latest trends report that talks about marketing trends in the <keyword id="6356925" type="General" weightage="20" keywordseo="bfsi" source="Orion">BFSI</keyword> sector.</li><li>Vishal Subharwal Head, Marketing, Digital Business &amp; E-commerce, <keyword id="472962" type="General" weightage="20" keywordseo="hdfc-life" source="Orion">HDFC Life</keyword>, <keyword id="878756" type="General" weightage="20" keywordseo="sandeep-walunj" source="Orion">Sandeep Walunj</keyword>, CMO, Nippon Life India Asset Management Ltd, <keyword id="328559" type="General" weightage="20" keywordseo="ajay-kakar" source="Orion">Ajay Kakar</keyword>, CMO, <keyword id="6391710" type="General" weightage="20" keywordseo="aditya-birla-capital" source="Orion">Aditya Birla Capital</keyword>, <keyword id="4121510" type="General" weightage="20" keywordseo="jasneet-bachal" source="Orion">Jasneet Bachal</keyword> – Chief Marketing Officer, YES Bank, <keyword id="178450" type="General" weightage="20" keywordseo="abhishek-gupta" source="Orion">Abhishek Gupta</keyword>, CMO, Edelweiss Tokio Life Insurance, Karthik Raman, Chief Marketing Officer and Head - Products, Ageas Federal Life Insurance and <keyword id="9793035" type="General" weightage="20" keywordseo="nikhil-bharadwaj" source="Orion">Nikhil Bharadwaj</keyword>, Head, Corporate Communications, Bajaj Allianz General Insurance share their thoughts.</li></ul>As the world slowly recovers from the Covid-19 pandemic, financial services are slowly but steadily changing their way of doing business and also the way they engage and communicate with their consumers. In the last 2 years, there has been a massive shift in the way consumers interact with the Banking, Financial Services and Insurance (BFSI) players. With the change in consumer behavior, there has also been a shift in the way these organizations are communicating with their consumers. There is a lot more empathy, the last year has about putting the spotlight on courage, resilience and hope. Going ahead too, players in the BFSI sector will need to catch the pulse of the consumers, and reach out to them at the touch-points they are most comfortable at. The need of the hour also is to listen to consumers, figure out their pain-points and try and solve them. Seamless customer experience will play an intrinsic role in keeping brands top-of-mind. The future will be all about convenience and simplicity. To understand a few larger trends we can expect to see in the BFSI sector in the year ahead, we reached out to some key players, and here is what they had to say: Vishal Subharwal Head-Marketing, Digital Business &amp; E-commerce HDFC Life <div type="image" title="Vishal Subharwal" msid="88591744" hostid="261"></div> I believe a ‘user first, omni-channel’ approach to be a trend that marketers need to cater to 2022. Let me elaborate my thoughts. To be successful, business organizations have to move in sync with larger trends seen in wider society. These changes are often reflected in various elements such as popular culture, technology adoption curves, environmental awareness. The role of marketing is to identify such changes ahead of the curve &amp; align resources accordingly. Consumers no longer look at old-school structural boundaries but are more focused on the seamlessness of experience offered to them across touch-points, be it a physical branch or an online platform. This is a trend commonly reflected across industries, as on a standalone basis neither model serves the customer needs well. When was the last time you saw an online payments intermediary get a physical banking license, an online medicine intermediary purchase a physical diagnostic chain, an online insurance broker opening physical branches, retail stores with online integrations. There are many such examples. In the context of rapidly evolving business models, marketing capabilities hence need to be aligned towards building superior omni-channel capabilities for customer acquisition &amp; lifecycle management. Sandeep Walunj, Chief Marketing Officer, Nippon Life India Asset Management Ltd <div type="image" title="Sandeep W 1" msid="88591952" hostid="261"></div> There are three very interesting trends that I feel will dominate 2022 in post-Covid Indian BFSI: 1. Social Discussion Forums where advanced users and experts handhold first-time users/ information seeker Seeds were sown during COVID when people dropped their inhibitions against digital financial transactions/ online investing. Information seeking/ handholding was the logical next (first) step and that’s what’s going to be mainstream. Going further, neutral enabling platforms will equip potential customers with information and tools to make right choices. These could also be offered/ run by an industry body or Government/ quasi-government bodies (example: MF Central mooted by SEBI) 2. Agents/ Brokers connecting with customers through Video Bots The evolution mentioned in point 1 above will further lead to distributors of financial products connecting with potential customers through video bots on social media wherein questions can be asked, individual proposals can be sent, appointments sought and transactions concluded through bots. 3. Social Commerce 2.0 with Meta+Insta leading the way Shopping while consuming social media seemed like an alien concept in early 20s but it is clearly how the consumers prefer it/ want it and desire it. We all saw the string response Meta generated and I am sure brands would be hatching their plans to leverage this trend. Ajay Kakar, Chief Marketing Officer, Aditya Birla Capital <div type="image" title="Ajay_Kakar_DSC_1575" msid="88591665" hostid="261"></div> Uncertainty will remain a way of life, in the foreseeable future. But as they say, tough times are the true test of character, and in these times, it holds equally true for a brand. While there will be a temptation to lay low and see how the uncertainty pans out, such times will help sift the men from the boys. He who sows during this time, will reap the most. Now. And hereafter. Towards this end a ‘spray and pray’ approach will not help. Brands will have to keep a finger on the customer’s pulse; be it their felt, or even unfelt (as yet) needs. Brands that can anticipate the customer’s need will have to offer relevance, simplicity, and comfort in these ever-changing times. Speed to market will become a barometer of success. While anticipating the customer’s future needs, I believe that a brand must not place all its bets only on the digital world. The customer will want and will exercise a choice. High touch and high tech. As he wants it, when he wants it. At the end of the day, the customer remains the king and the brand that not merely listens, but makes its customers feel heard for all their said and unsaid needs, in the times like these, will live to narrate the tale.” Jasneet Bachal – Chief Marketing Officer, YES Bank <div type="image" title="Jasneet Bachal" msid="88591695" hostid="261"></div>While Banks have been consistently trying to engage the ‘new to banking’ generation - Gen Z and late millennials, building a stronger connection with them will be a key trend for banks in the coming year. As digital natives, this audience has naturally come to expect digital-first experiences that are seamless across apps and platforms. Therefore, their expectation from banking is significantly different – a near-instant fulfilment which the banks will need to accommodate through products and services, in order to address this shift in behaviour. To offer a differentiated banking suite that meets these expectations, banks will need to create simplistic and personalized solutions that can come alive by re-imagining customer journeys for this segment. Using purpose-driven marketing that appeals to their emotional motivators – their beliefs, drivers and cultural environment – banks can cater to the experiences they are looking for. In sync with this, evolving the design language and communication, with a focus on simplicity and relatability, will help establish a lasting connect. Abhishek Gupta, Chief Marketing Officer, Edelweiss Tokio Life Insurance <div type="image" title="Abhishek Gupta -- IMG_6499" msid="88592207" hostid="261"></div> Customer experience, data protection and social consciousness will be the three dominant trends for the BFSI sector in 2022. The last two years of the pandemic have recast customer expectations from brand experiences across various platforms. In line with these changes, brands will work on building consistency in CX, irrespective of the purchase or service channel. They will also make efforts on easing access to insurance by continuing to invest in multi-channel capabilities. While the pandemic has bolstered the digital opportunity, it has also raised concerns over data protection. As data becomes increasingly important for businesses, there is an improving awareness among customers regarding data privacy. With giants like Google and Apple making first move towards data protection, there is a looming threat to the efficacy of marketing campaigns. Brands will proactively craft inclusive data protection strategies so that customers can stay in control of their data. Lastly, brands will increasingly align with a social purpose that best reflects their brand values. Of all the social initiatives, Environment, Sustainability and Corporate Governance will be higher on priority list. Karthik Raman, Chief Marketing Officer and Head - Products, Ageas Federal Life Insurance <div type="image" title="Mr. Karthik Raman, CMO and Head-Products, Ageas Federal Life Insurance" msid="88608360" hostid="261"></div> The pandemic has made people realise that uncertainty in life is a reality and not just a sales pitch. Given that, the realisation of the need for insurance has increased, especially for term and health insurance. We have seen demand rising, not just in the metros and Tier 1 cities but even in the smaller towns and rural areas. With reduced spending on lifestyle expenses, people have greater disposable income in hand which they are keen on investing in financial instruments such as life insurance. Parents too, are increasingly keen on investing in child plans. Findings from our recent #FutureFearless survey have shown that the pandemic has influenced Indian parents to rethink their financial health and priorities for their children. Saving for their children’s education, future and milestones has emerged as the top priority for parents, along with saving for medical emergencies. In 2022, as an industry, we need to further capitalise on this demand. Using various platforms, especially the cost-effective digital medium, we need to further educate people and create awareness on the role of insurance in financially securing themselves and their families against life’s uncertainties, while allowing them to pursue their dreams. Nikhil Bharadwaj, Head – Corporate Communications, Bajaj Allianz General Insurance <div type="image" title="Nikhil Bharadwaj, Head - Corporate Communications, Bajaj Allianz General..." msid="88591976" hostid="261"></div> The pandemic has taught us that communication is of utmost importance not just for your customers, but also for other stakeholders including employees. Going forward, simplicity and authenticity, will be the most important part of all communication! While inclination towards digitization is increasing, print is not going away, in fact I see it making a strong come back. Digital media is surely the future and I see another year where this belief is reinforced further. In fact, we’re already listening to talks of OTT platforms of news channels, which might be something totally new with custom content. On the internal communications side, as always it remains as a tool which helps organizations provide right information to their employees. However, I feel that it will also play a role of culture builder wherein it will no longer be restricted to communications or HR team, but various other functions getting involved in it. With complex business models, we’ll see custom built communications for specific SBUs.

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<ul><li><keyword id="248229" type="PERSON" weightage="20" keywordseo="Nikhil-Mathur">Nikhil Mathur</keyword>, Managing Director of GfK in India writes how the consumer sentiment improved during the <keyword id="36208" type="PERSON" weightage="20" keywordseo="festive-season">festive season</keyword> and why marketers should continue investing on <keyword id="618493" type="CITY" weightage="20" keywordseo="digital-marketing">digital marketing</keyword>. </li><li>With the drastic alteration in media consumption, this festive season offers opportunities for marketers to connect with consumers like never before.</li></ul>The global Covid-19 pandemic has profoundly changed the world as we know it. Lifestyles have changed, consumers are buying differently and, in many instances, thinking differently. Supply chains have been challenged and retailers are closing doors. Consumers in every part of the world are now looking at products and brands through a new lens. COVID-19 is reshaping the entire retail industry in real-time, rapidly building consumer preferences that have never been easy to change. It is safe to say that new habits formed now will endure beyond this crisis, permanently changing what we value, how and where we shop, and how we live and work. Consumers are deeply concerned about the impact of COVID-19, both from a health and economic perspective. People are responding in a variety of ways and have diverse attitudes, behavior and purchasing habits. With increasing concerns about individual safety, customers are shifting towards the deep end of the online commerce pool and have shown a remarkably high level of dexterity and comfort in online shopping. According to GfK Consumer Pulse Report, 69% of consumers now prefer the online channel of purchases to avoid crowds. Additionally, the home culture is likely to outlast the Covid-19 phase. It has significantly resulted in a huge business opportunity across product categories. Consumers are buying electronics to support this lifestyle, thereby creating a sales boost in the industry. The @home lifestyle has put the spotlight on the importance of “convenience” shopping, governing the kind of products consumers will buy. This factor has given a big fillip to digital commerce, as new consumers migrate online for grocery shopping – a growth that is likely to survive beyond the pandemic. Our survey indicates that 44% of consumers consider online as their most preferred purchase channel for mobile/smartphones, even after the lockdown situation eases, while 73% prefer buying consumer electronics/appliances from e-commerce websites and 26% prefer buying from brand websites. These changing trends in consumer buying behavior and the increasing preference of purchase channel towards online retail has created an unprecedented challenge for companies seeking to engage with customers. Whether changes in marketing direction are motivated by market and industry conditions, changing consumer behavior or the need to stay competitive and cost-effective, it is highly recommended that companies focus on increasing their marketing efficiencies and customer retention. This is also reflected from <a href="https://www.gfk.com/home" target="_blank">GfK</a> study highlighting that 84% of manufacturers plan to invest in online commerce for 2020 as a response to the changing business climate. Unsurprisingly, the pandemic has hit the marketing industry hard. According to the GfK survey, Branding and Marketing in the New Abnormal, 73% of marketing leaders across Asia stated that their marketing budgets have decreased, with those in FMCG and healthcare experiencing the hardest hit. Simultaneously, marketing KPIs have also shifted, with maximizing the marketing effectiveness increasingly becoming the most important KPI for marketers. It is important to note here that while most of the KPIs in the pre-covid times focused on both the online and offline retail, the approach now has shifted. Digital transformation is now considered as one of the top priorities (56%) of marketers. This shift was reflected in freeform answers around how KPI measurement has changed, with respondents indicating a ‘shift to purely digital tactics’ and a ‘shift to online businesses”. Indeed, as online sales from changing consumer preferences continue to grow, we can expect this need to focus on digital transformation to continue. While KPIs may not have changed, their form has. Marketers’ desire to move towards digital platform reflects the need to focus on internal and external channel tracking, measurement, and effectiveness. With the drastic alteration in media consumption, this festive season offers opportunities for marketers to connect with consumers like never before. Consumers are discovering brands on social media, and businesses need to focus on solutions that are relevant for the new normal, such as hyper-localization, creating virtual experiences, re-looking at the media-mix to build efficiency and effectiveness. Moreover, the lockdown has only increased user’s media consumption habits, with an increased viewership for OTT content, urging brands to invest in some relevant touchpoints to help them achieve their targets. Not surprisingly, industry experts are advising marketers to leverage social media to drive brand discovery this season. With discretionary spends decreasing and value-consciousness increasing, marketers need to enter the consumer’s consideration set, eventually helping consumers in their purchase decisions. Brand managers are trying to strike a balance in offline and online retail experience giving the importance of both the purchase channels. Hence, as brand managers are focusing on product innovation strategy to allure the consumers, they are equally invested in the retail innovation to address vast swathes the nation. Getting digital right In this post-pandemic environment, it is important to have a roadmap that reflects the pace of digital adoption: <ul><li>The digital efforts of brand marketers should quickly focus on using data analytics to respond to evolving customer needs, improve business operations and increase agility to fulfil customer expectations across multiple touchpoint. </li><li>It is also crucial for brand marketers to benchmark their digital channels against competition and identify the metrics that are relevant for the brand purpose. Look at the bigger picture and set quantitative and qualitative KPIs to achieve overarching brand objectives. </li><li>In addition, bolster your digital competencies to deliver speed and innovation, and create authentic and meaningful experiences for your audiences in order to achieve long-term brand success.</li></ul>The crucial factor here is innovation; marketers who don’t realize or understand this or cannot innovate fast enough will perish and those who can adapt themselves, will sustain and thrive.

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