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<ul><li><keyword id="35621" type="General" weightage="20" keywordseo="e-commerce" source="Orion">E-commerce</keyword> platform <keyword id="541988" type="General" weightage="20" keywordseo="snapdeal" source="Orion">Snapdeal</keyword> made its debut on the government-led <keyword id="3415669" type="General" weightage="80" keywordseo="open-network" source="Orion">Open Network</keyword> for Digital Commerce (<keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword>) on July 19. </li><li>An initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), <keyword id="14523575" type="General" weightage="20" keywordseo="ondc-aims" source="Orion">ONDC aims</keyword> to support micro, small and medium enterprises (MSMEs) and small traders and help them get on to online platforms. </li><li>ONDC is a UPI of e-commerce that seeks to democratize virtual commerce, shifting it from a platform-centric model to an open-network.</li></ul>With the launch of Unified Payments Interface (UPI), the Indian government brought all virtual banking and payments under one roof. The government is now pulling off a similar feat in yet another walled garden, the e-commerce category, with the launch of Open Network for Digital Commerce (ONDC). ONDC aims to democratize virtual commerce by bringing all platforms under one open network. It would create a new, equal-level playing field for the e-commerce landscape, which is currently dominated by international players Amazon and Flipkart. Open Network goes beyond the current platform-centric model where the buyer and seller must be part of the same platform/ application to enable transactions between them. By moving away from platform-centric models to an open network, ONDC intends to stop digital monopolies. Currently, Amazon and Flipkart have end-to-end control over the entire e-commerce ecosystem which includes seller onboarding, customer acquisition, order fulfillment, payment, returns and complaint redressal. Imagine a platform that not only shows products from Amazon, Flipkart and Meesho under one umbrella, but also from all your local kirana stores. That’s exactly what the open network intends to do. You would be able to compare the prices of Amazon finds and product specifications of Flipkart finds through one application. Courtesy: ONDC, Ministry of Commerce It will unbundle the supply chain, shifting the power from the likes of Amazon and Flipkart to consumers, merchants, and providers of support services. With an open network, smaller players will also have access to Amazon or Flipkart controlled data. ONDC, therefore, aims to support MSMEs and small traders and help them get on online platforms. Snapdeal is the first e-commerce platform to get on the open network. E-comm platforms Dunzo and Ekart have also partnered with ONDC. How does ONDC work? Not only will the open network enable smoother transactions and online buying experience for consumers, it would also digitize the entire value chain and improve efficiencies in logistics for sellers. Small merchants will be able to skip separate lists of mandates and commissions for every platform they join. With ONDC, retailers will have access to processes and technologies that are deployed by e-commerce giants such as Amazon and Flipkart. It would also mean better discoverability for all retailers and enhance transparency in pricing. Silos will be broken down and an open list with delivery partners, aggregators, customers, restaurants, and logistic providers will be put together. According to the government, “ONDC will ensure confidentiality and privacy of data in the network. ONDC shall not mandate sharing of any transaction-level data by participants with ONDC. Will work with its participants to publish anonymized aggregate metrics on network performance without compromising on confidentiality and privacy.” When was ONDC announced? An initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC would enable both sellers and buyers to be digitally visible and transact through an open network, regardless of what platform or application they use. The initiative was announced by a nine-member advisory council that included Infosys co-founder and chairman Nandan Nilekani, National Health Authority CEO R S Sharma, QCI Chairman Adil Zainulbhai, National Payments Corporation of India CEO Dilip Asbe and others. As per DPIIT, ONDC “...aims at promoting open networks developed on open-sourced methodology, using open specifications and open network protocols, independent on any specific platform. ONDC is expected to digitize the entire value chain, standardize operations, promote inclusion of suppliers, derive efficiency in logistics, and enhance value for consumers.” The open network is not just for retail transactions, it is also for food, delivery, travel, hotel booking, and more, which would potentially challenge the dominance of all large e-commerce players. As more small traders and retailers accept the online world, ONDC plans to increase e-commerce <a href="https://www.medianama.com/wp-content/uploads/2022/03/ONDCStrategyPaper.pdf">penetration </a>to 25% of all consumer purchases in the next two years, up from about 8% presently. Within the next five years, it expects to sign up 900 million buyers and 1.2 million sellers on the shared network, with a gross merchandise value of $48 billion. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/a-19th-century-shivaji-ii-painting-18th-century-tamil-bible-traced-to-us/articleshow/93044032.cms">A 19th-century Shivaji II painting, 18th century Tamil Bible traced to US</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-vs-west-indies-heres-the-entire-schedule-for-the-upcoming-odi-t20i-series/slidelist/93024475.cms">India vs West Indies: Here’s the entire schedule</a>

Snapdeal is now available on ONDC, here’s all you need to know about the network

<keyword id="14907483" type="General" weightage="20" keywordseo="jm-financial-institutional-securities-ltd-" source="Orion">JM Financial Institutional Securities Ltd.</keyword> has released its report on Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword>) terming the company a population-scale initiative to democratise e-commerce, the detailed report concludes that it has the potential to create a win-win scenario for incumbents as well as new entrants. The report also terms extreme operational complexity as the roadblocks for ONDC. "With its primary focus of enabling e-commerce for small retailers and MSMEs, ONDC has the potential to enhance retail digital penetration in the country at an even faster pace than what was seen during the COVID lockdowns. The network will enable a wider customer catchment to small retailers and direct customer access to MSMEs, creating millions of million-dollar businesses," said the report. Using an open source protocol, ONDC switches the approach from closed platforms to a network that creates interoperability across all on boarded applications, says the report. "This interoperability enables unbundling, which allows all participants to play to their strengths -- a banking app with millions of consumers focuses on boarding/engaging consumers while a SaaS provider for online sellers handholds the sellers. Further, the buyers get to stick to their app of choice for accessing a broad selection while sellers do not need to spend time and capital in working with multiple platforms in silos. Overall, this can drive capital efficiency for the players, helping them achieve profitability," said the report. As per the report, the roadblocks to success of ONDC include solving the chicken and egg situation between supplier and buyer on boarding, customer complaints redressal (as a fragmented process also creates gaps for the process to fall through), competition issues in case the large incumbents or massive brands are on boarded as well as those related to data privacy and ownership. "Looking at <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> evolution, ONDC might also need to decide on its positioning as a non-regulatory authority or becoming a rule-setting body in order to ensure that the network remains fairly attuned for the small retailer to not get marginalised," said the report. Open Network for Digital Commerce (ONDC) has been incubated with the primary purpose of supporting grassroots-level entrepreneurship and digitising small, local retailers by making them a participant in India's e-commerce revolution. ONDC is pursuing an open protocol approach that drives interoperability between all onboarded platforms and, hence, lowering the entry barrier for a retailer to sell online. This allows a consumer on any app of his/her choice to buy from any seller across the network even if the seller might not be onboarded on the app that the customer is using. "We appreciate this move by the Indian government to take the digital revolution across the nook and corner of the country and believe that this could be a massive driver in taking India's digital penetration in retail from the current 5-7 per cent to almost 20 per cent in the next 5 years (current IBEF estimate is of 19 per cent by 2030)," said the report. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ril-acquires-california-based-solar-software-developer-sensehawk-for-32-million/articleshow/94016174.cms">RIL acquires California-based solar software developer SenseHawk for $32 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-has-held-its-own-despite-sharp-depreciation-in-other-currencies-rbi-governor/articleshow/94015738.cms">Rupee has held its own despite sharp depreciation in other currencies: RBI Governor</a>

ONDC is a population-scale initiative to democratize e-commerce: JM Financial

Earlier this week, the death of yet another corporate employee shook the nation. Various other incidents also made headlines last month, where employees of some big companies reportedly died of work pressure. With a rise in such incidents, people are talking about the importance of <keyword id="19901232" type="General" weightage="20" keywordseo="work-life-balance" source="keywords">work-life balance</keyword> and <keyword id="19956983" type="General" weightage="20" keywordseo="mental-health" source="keywords">mental health</keyword> at workplace. <keyword id="20253489" type="General" weightage="100" keywordseo="Zoho" source="keywords" meta.keywordsubtype="org" meta.entityname="Zoho" meta.hostid="261" meta.entityid="Zoho">Zoho</keyword> CEO and Co-founder <keyword id="19914274" type="General" weightage="20" keywordseo="Sridhar-Vembu" source="keywords">Sridhar Vembu</keyword>, in a new interview with PTI, has called for a fundamental shift in how companies treat their employees. In the interview, the entrepreneur warned that organisations pushing their workforce to unsustainable limits will not be able to keep up the pace. He also called for a shift in mindset and said that people are being put in a "very big pressure cooker." <h2>Zoho CEO on putting employees in pressure cooker </h2> <keyword id="21154651" type="General" weightage="20" keywordseo="vembu" source="keywords">Vembu</keyword>, who has spent over two decades building Zoho into one of India’s leading tech companies, expressed deep concern over the increasing pressure faced by employees, particularly in large cities. He said that we are creating environments where workers are trapped in a ‘pressure cooker’, referring to the convergence of long working hours, grueling commutes, and the isolation many young professionals experience after migrating from smaller towns. "You already have loneliness, long-commutes, stressful work condition. So, you are throwing people into a very big pressure cooker, and very tragically, some people break, other people are broken," he told PTI. Reflecting on his own experience, Vembu stressed the importance of pacing oneself in order to sustain a long and productive career. “I have been working for 27-28 years, and I hope to work for another 28 if possible. But to do that, I cannot allow myself, or my employees, to burn out,” he explained. He argued that companies prioritising short-term gains at the expense of their workers’ health are doomed to falter in the long run. <h2>What's the solution?</h2>Vembu’s advocacy for a healthier work culture is grounded in his broader vision for corporate India. A long-time proponent of decentralising business operations, he believes that one solution to the high-stress environment is to diversify away from major urban centres. “We bring young people from small towns into big cities, and their first challenge is loneliness. Then, they face commutes that can stretch up to two hours each way, particularly in cities like Bengaluru. It’s no surprise that many feel overwhelmed,” he said. The Zoho chief pointed out that by expanding operations into smaller towns and rural areas, companies can alleviate some of these pressures, allowing employees to stay closer to their homes and communities. This approach, he believes, not only reduces stress but also fosters a more sustainable, human-centric model of growth. Beyond <keyword id="22447710" type="General" weightage="20" keywordseo="workplace-stress" source="keywords">workplace stress</keyword>, Vembu touched on the role of technology in shaping the future of business. He reiterated his call for tighter regulations on big tech companies, particularly in preventing the monopolisation of digital services. Drawing parallels between email, which is an open standard, and messaging services that are often locked within proprietary ecosystems, he urged the government to push for greater interoperability. “Messaging platforms should not operate in silos. We need standards that prevent monopolies and ensure a level playing field for all,” he remarked. Vembu also praised India’s Digital Public Infrastructure (DPI) initiatives, calling them a “shining success story” and a model for other nations. He highlighted how India has become a global leader in digital infrastructure, with initiatives such as the ONDC (Open Network for Digital Commerce) and the health stack setting new standards for the world to follow.

People being thrown in pressure cooker, different mindset is needed: Zoho CEO Sridhar Vembu on India’s work culture

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s promise to turn net profit positive in a year has cheered investors. </li><li>Margins in its core food delivery business has hit a multi-quarter high. </li><li>The worry? Monthly transacting users and gross order value has declined versus the previous reported quarter. </li><li>Nomura believes Zomato will find it difficult to achieve double-digit contributory margin with high growth in the long term </li></ul>Two years after it listed on the bourses, Zomato is on a recovery path. The stock which hit a high of over ₹150 per share fell sharply subsequently to below ₹50 a piece. However, the last quarter (Q1FY24) has seen a recovery from that level and it has now surpassed its listing price of ₹76. The stock has been rising steadily in the last three weeks, after its Q4 earnings report where it turned EBITDA positive in its core business, without including Blinkit, its quick commerce business. EBITDA is net income (earnings) with interest, taxes, depreciation, and amortisation. Moreover, the management also promised to turn positive not just at the consolidated adjusted EBITDA level but also at the profit after tax level in a year. Financial services company, JM Financial says this commitment is the ‘cherry on the cake’. “Tough macro posed growth headwinds but management showed urgency on profitability and that was despite the Gold programme launch,” said Jefferies. Zomato Gold is a subscription plan that offers free deliveries within a 10-kilometre radius for orders above ₹199. During the quarter, as many as 30% of the gross order value, from 1.8 million customers, came from Gold. The Gold plan could hurt its contributory margins (CM) because of its inability to charge every order. Yet, as of Q4, its CM in core food delivery business are comfortable after hitting a multi-quarter high. Contributory margins represent the incremental money generated for each unit sold after deducting the variable portion of the costs. “The core business milestone was achieved mainly on the back of solid expansion in the food delivery contribution margin to 5.8% in Q4 vs 5.1% in Q3. This was because profitability levers such as improvement in restaurant commissions and ad income, and lower discounts/variable cost offset the adverse impact of Gold launch,” said JM Financial. Ordering effects After the post-pandemic boom effects faded away, a lot of consumption patterns have changed, also evident in consumer spending on fast food — impacting growth in quick service restaurants. These headwinds have been impacting Zomato as well. The growth in Zomato’s food delivery business seems to have flatlined. Food gross order value declined 2% quarter-on-quarter, even as it grew 12% year-on-year. Moreover, its monthly transacting users (MTU) declined by 5% QoQ to 16.6 million, while growing at 6% YoY. Apart from the one-time impact of its decision to exit from 225 cities, the company attributes MTU decline to optimised marketing spend and withdrawal of the human support interface for abusive customer cohorts. “Also because of Zomato Gold, the MTUs have come down and not gone up because we do see an impact of clubbing some orders in the same households, which might have just a single membership,” Akshant Goyal, chief financial officer of Zomato said in an earnings concall. The management, however, remains confident about food delivery ordering going up in the first quarter of FY24. Analysts, on the other hand, are not too confident about their ability to sustain growth beyond the first quarter as summer holiday and IPL impact during April/May are one-off events. Its other businesses, however, continue to display good growth. Blinkit’s gross order value grew 17% QoQ, while order volume grew 24%. Revenues of Hyperpure, its business to supply ingredients to restaurants, grew 13.5% QoQ. Offsetting margins with growth While it’s on a path to profitability, Zomato is also caught between a rock and a hard place — of growth versus margins. To boost growth, it will have to go in for discounts – the lack of aggressive discounting by all players is already visible in the moderation in food ordered during the IPL season, generally a big occasion for online food platforms. This year, the IPL spike in food ordering was at a modest 7% for the industry as compared to the 2020 IPL when it was over 50%, as per Redseer. This time, there were no high <a href="https://www.businessinsider.in/business/news/ipl-2023-sees-tier-2-cities-order-more-on-swiggy-zomato/articleshow/100673879.cms">decibel ads along with deep discounts.</a> Like other players in the business, the company will also find it tough to keep up with the high margin trajectory, while also chasing growth. “Overall, we lower our growth assumptions for its food delivery’s gross order value growth, from around 20% to around 17%, but raise our FY24F contributory margin estimate from 5.8% to 6.5%. We continue to believe Zomato will find it difficult to achieve double-digit contributory margin, with high growth in the long term,” said Nomura. Restaurant commissions grow but may hit an ONDC wall In the last two years, the company was also able to improve take rates or the commissions it charges restaurants consistently. Its take rates are now close to 18%. “Broadly, with our take rates, the mission is to be competitive, and we are lower than what the competition is charging. So, as we continue to add more value to restaurant businesses, we expect some improvement in commission revenue going forward,” said Goyal. But competition is heating up in the sector. The Department for Promotion of Industry and Internal Trade’s Open Network for Digital Commerce (ONDC) has breached the territory that was hitherto dominated by Zomato along with Swiggy. On the face of it, it might seem like restaurants might be offered better terms on ONDC. While Zomato will be able to compete with ONDC on efficiency and also even overall costs – as third party deliveries might be costlier– HSBC Global Research believes that it might flatten growth. “Estimates for food delivery revenue in the long term remain largely unchanged. Our short-term estimates change slightly as we build in a marginally slower increase in take rate,” the research firm said. In spite of short-term and long-term challenges ahead, Zomato seems to have settled into its listed company status to deliver value to investors by chasing topline growth instead of customers, with discounts.

With Zomato rallying over 25% in the past month, street looks at the road ahead

<ul><li>A rapidly evolving technology landscape and consumer trends will shape how businesses perform, going forward.</li><li>A report by Wavemaker titled Spotlight23 has underlined the major trends that businesses will have to adapt to this year.</li><li>Some of the most prominent emerging technologies and consumer trends to watch out for in 2023 include artificial intelligence as a service (<keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>aaS), generative AI like ChatGPT and increasing use of Reels.</li></ul>A rapidly evolving technology landscape and quickly changing consumer trends require businesses to evolve with them at the same pace or risk falling behind. From the way customers interact with businesses to how businesses attract customers with new innovations, several emerging trends like artificial intelligence as a service (AIaaS), and increased focus on privacy and free speech have been identified in Wavemaker’s report titled Spotlight23. While ecommerce has existed for a long time, the Covid-19 pandemic changed how Indians look at it. According to a<a href="https://economictimes.indiatimes.com/small-biz/sme-sector/covid-pandemic-hot-housed-e-commerce-growth-across-amea-region-survey/articleshow/94643528.cms"> survey</a>, 83% of Indian consumers have increased their purchases from ecommerce platforms in the last three years, and this momentum is expected to gain pace. But that is just one aspect of the evolving technology and consumer landscape. Here are other hot and emerging trends of 2023, according to the Spotlight23 report. <cmsannotation type="cmsannotation" annotationid="Generative AI to grow 10x in the next three years" comment="subhead" text="Generative AI to grow 10x in the next three years">Generative AI to grow 10x in the next three years</cmsannotation> Generative artificial intelligence (AI) solutions, like ChatGPT and Dall-E are expected to see a massive uptake in the next three years, growing from 1% of the data generated to 10% by 2025. Generative AIs like Dall-E, ChatGPT generate images and text using the inputs provided by users. For instance, ChatGPT can write articles, code or even compose music based on the inputs provided by users. OpenAI, which launched both Dall-E and ChatGPT, said that the latter was used by over 1 million users within the first 24 hours of its launch. <cmsannotation type="cmsannotation" annotationid="AI as a Service (AIaaS)" comment="subhead" text="AI as a Service (AIaaS)"><keyword id="16177246" type="General" weightage="20" keywordseo="AI-as-a-Service" source="Orion">AI as a Service</keyword> (AIaaS)</cmsannotation> The gaining traction of low-code/no-code artificial intelligence (AI) tools has given businesses an opportunity to implement off-the-shelf AI tools in their services, instead of developing an in-house AI. This brings down the costs and also allows businesses to see what works and what doesn’t. Some of the use cases of AI as a Service include optimizing campaigns, predicting customer churn and engaging customers based on their usage patterns as predicted by the AI model. <cmsannotation type="cmsannotation" annotationid="Privacy and free speech to continue to gain prominence" comment="subhead" text="Privacy and free speech to continue to gain prominence">Privacy and free speech to continue to gain prominence</cmsannotation> Users are increasingly worried about their privacy, with 66% of internet users globally worried that their identity will be stolen, according to<a href="https://www.statista.com/statistics/296700/personal-data-security-perception-online/"> Statista</a>. Further enactment of privacy-focused laws like General Data Protection Regulation (GDPR) has put the spotlight on data privacy. The Spotlight23 report states that businesses will invest in privacy-centric technologies as customers become increasingly sensitive about their data. Another aspect that has gained prominence is free speech, as evidenced by the Twitter takeover by Elon Musk, and the rise of decentralized social media platforms like Mastodon, which has seen an 800% increase in users since October 2022, with the user base now standing at 2.5 million. However, the report adds that advertisers will likely stay away from Twitter until a balance between free speech and brand safety is found. <cmsannotation type="cmsannotation" annotationid="Reel it – engagement and social commerce is evolving rapidly" comment="subhead" text="Reel it – engagement and social commerce is evolving rapidly">Reel it – engagement and social commerce is evolving rapidly</cmsannotation> Instagram Reels’ rise in popularity can be explained with this metric alone – in Q3 2022, Meta reported over 140 billion reels were played, which means over 1.55 billion reel plays every day during the quarter, or 1.08 million reels played every minute. This makes it critical for brands to create Reels to drive user engagement, according to the report. The opening up of WhatsApp Business API to everyone provides business with another opportunity to generate new leads. Many of those examples are already live – for instance, JioMart’s catalogue can be browsed through WhatsApp, allowing them to place orders and make payments. Reliance’s media arm Viacom18, which bagged IPL streaming rights, could help Jio accelerate social commerce via partnerships with brands, leveraging its user base of over 450 million. <cmsannotation type="cmsannotation" annotationid="Social commerce growth to result in increased influencer collaborations" comment="subhead" text="Social commerce growth to result in increased influencer collaborations">Social commerce growth to result in increased influencer collaborations</cmsannotation> Gaining prominence of social commerce is expected to result in an increase in brands collaborating with social influencers. According to Statista, sales through social media stood at $992 billion in 2022, and they are expected to increase to $2.9 trillion by 2026. “Influencer collaboration can boost a company's revenue. For instance, Petco worked with Gabby Douglas and used livestream shopping events to reach and engage customers,” the Spotlight23 report said. Conversational AI is also expected to further drive user engagement, with several brands like H&amp;M, Levi’s and others already using chatbots to give personalized recommendations to buyers. <cmsannotation type="cmsannotation" annotationid="VR, AR and XR to deliver a more immersive shopping experience" comment="subhead" text="VR, AR and XR to deliver a more immersive shopping experience"><keyword id="6380951" type="General" weightage="20" keywordseo="VR" source="Orion">VR</keyword>, <keyword id="11853" type="General" weightage="20" keywordseo="AR" source="Orion">AR</keyword> and <keyword id="1786062" type="General" weightage="20" keywordseo="XR" source="Orion">XR</keyword> to deliver a more immersive shopping experience</cmsannotation> Technologies like virtual reality (VR), augmented reality (AR) and extended reality (XR) are expected to enhance the shopping experience of users and make it more immersive. These technologies allow users to try on products virtually to see if they suit them or not – for instance, Lenskart has a 3D try-on feature that lets users check out eyeglasses and sunglasses virtually before buying them. Asian Paints’ app allows users to take a photo of their wall and picture how it looks with the diverse range of colours and textures offered by the company. <cmsannotation type="cmsannotation" annotationid="ONDC could realize its potential in 2023" comment="subhead" text="ONDC could realize its potential in 2023">ONDC could realize its potential in 2023</cmsannotation> During a<a href="https://www.businessinsider.in/retail/news/democratising-commerce-ondc-could-be-the-upi-moment-for-small-retailers-msmes/articleshow/95393032.cms"> panel discussion</a> in November 2022, Thampy Koshy, the Chief Executive Officer of ONDC, said that Open Network for Digital Commerce (ONDC) is the Indian government’s attempt to democratise commerce. ONDC is an open platform that allows sellers to make their catalogues visible to every buyer on the platform. Koshy likened ONDC to UPI, saying “what UPI did was to essentially streamline and democratise the payment side of it. What ONDC is trying to do is a similar kind of transformation on the transaction side of goods and services.” ONDC is currently live in 83 cities, and it has 25 network participants along with over 700 merchants onboard. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2023-morgan-stanley-sees-focus-to-be-on-fiscal-consolidation-investment-led-growth/articleshow/97082715.cms">Budget 2023: Morgan Stanley sees focus to be on fiscal consolidation, investment-led growth</a> <a href="https://www.businessinsider.in/business/corporates/news/competitive-intensity-a-big-risk-for-dmart-say-analysts-after-company-misses-streets-q3-forecast/articleshow/97052145.cms">Competitive intensity a big risk for DMart say analysts after company misses Street’s Q3 forecast</a> <a href="https://www.businessinsider.in/business/corporates/news/hiring-by-it-cos-down-96-in-q3-compared-to-preceding-7-quarters-even-as-attrition-cools/articleshow/97023873.cms">Hiring by IT cos down 96% in Q3 compared to preceding 7 quarters even as attrition cools</a>

AI as a Service to free speech platforms and social commerce, these are the big emerging trends of 2023

India's progress toward a $5 trillion economy will be fuelled by the small and medium businesses – the engines of innovation that lie at the crux of our economy. And to acknowledge these powerhouses, at Business Insider India, we are setting the stage for industry leaders and budding entrepreneurs to interact and share their learnings. Day 2 of the event includes a number of panel discussions, fireside chats, workshops, masterclasses, and keynotes. From two engaging fireside chats to panel discussions on tackling MSMEs challenges on finance and technology – let's quickly get to what to expect from day 2. We shine the spotlight on the Indian economy and how <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>s have served as its skeleton. The Federation of India Micro and Small and Medium Enterprises' Secretary-General, Anil Bhardwaj, will deliver the keynote address – emphasising on the need to improve exports and public procurement to assist the MSME industry. There is evidence that over the past several years, India has experienced an increase in the number of SMEs listed. Ajay Thakur, Bombay Stock Exchange's Head of SME and Startup will provide additional light on what needs to be done in order to alter entrepreneurs' perspectives and why it is important to list small businesses to uncover value and scale higher. [Register here: <a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a>] India is known to be the third-largest ecosystem for startups, but access to funds at the appropriate time remains one of the many difficulties the sector has encountered. You don’t want to miss a deep, insightful fireside chat with Rajnish Kumar, if you have the question, "How can small businesses harness the correct financial instruments and make the most of their finances?" As the former chairman of SBI and chairman of BharatPe, he brings with him more than 40 years of expertise and knowledge. We will also get candid with T Koshy, CEO of ONDC, to obtain a better understanding of how ONDC can be the major game-changer for MSMEs. By linking you with more network partners who will complete your e-commerce solution, ONDC gives you the chance to expand your business through online sales. It is hailed as the next big technological revolution that will enable <keyword id="6359222" type="General" weightage="20" keywordseo="small-business" source="Orion">small business</keyword> owners to define their mission statement. Hear from the man leading this revolution on their mission statement. And this is just part of the action, there's more to come! You do not want to miss the fascinating panel discussion that starts at 6:00 p.m. Top industry experts including Kishor Kharat, Former MD &amp; CEO of Indian Bank and IDBI, Vipul Sharma, Founder and CEO, of Chqbook, and Jinand Shah, MD &amp; CEO of Online PSB Loans discuss innovative finance solutions for small businesses. Since we've just talked about money, it's time to discuss technology, another critical need for MSMEs. And the <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> 2023 has you covered there as well. Do you have queries very much like "Can MSMEs transform and expand more? ", or "Is digital transformation the solution to issues encountered by small businesses? Our panellists, Ketan Gaikwad, MD and CEO of RXIL, Sundeep Mohindru, Founder &amp; Director of M1xchange, and Avinash Godkhindi, MD and CEO of Zaggle, will share their knowledge on how technology is empowering MSMEs. The discussion will start at 6:30 p.m. and will be moderated by NASSCOM Vice President and Head of Membership Srikanth Srinivasan. Finance and technology may be the building elements of a firm, but what keeps it operating long-term is a strong foundation built on sustainability. In his final remarks, Sudarshan Chari, Executive Director and Head of Business Banking at DBS Bank India, will discuss how sustainability is a key tenet for startup companies. The big finale will feature a master class on growing your brand in India from micro to small to big from Spring Marketing Capital's founder and creative partner, Arun Iyer! Small businesses must adapt to the changing times and position themselves well for a digital-first era. You will learn about the foundational elements of marketing and how to create memorable client experiences with this masterclass. If you don’t want to miss out on any of this action, register now on this link: <a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a>

MSME Exchange 2023 goes live on Jan 18: Get insights from leading voices that matter

<keyword id="399907" type="General" weightage="20" keywordseo="meta" source="Orion">Meta</keyword>'s Director and Head of Partnerships in India <keyword id="248909" type="General" weightage="20" keywordseo="Manish-Chopra" source="Orion">Manish Chopra</keyword> has announced his resignation from the company in a LinkedIn post. Chopra joined Meta in 2019 and has been serving as its director and head of partnerships in India. The Director and Head of Partnerships posted a message of his resignation on Tuesday. He also said he would assist with the transition over the next few weeks. Chopra posted on LinkedIn: "I am grateful to the company for trusting me with building out our efforts to drive growth and engagement across Facebook, Instagram and WhatsApp. I am super proud of the work the team and I have done to become an ally for creators and businesses around the country. My heartfelt thanks to each and every one of you!" Manish Chopra, Meta's Director and Head of Partnerships in India, had joined the company in January 2019. He posted on the social media site, "It's been 4.5 years of an incredible journey leading <keyword id="17439335" type="General" weightage="50" keywordseo="meta-partnerships" source="Orion">Meta Partnerships</keyword> in India! I am stepping down from my role at Meta and will help with the transition over the next few weeks." The executive said, "I am grateful to the company for trusting me with building out our efforts to drive growth &amp; engagement across Facebook, Instagram and WhatsApp. I am super proud of the work the team and I have done to become an ally for creators and businesses around the country. My heartfelt thanks to each and everyone one of you!" On the lines of ongoing layoffs in the tech world and in the company itself, he said, "The recent months have been trying times for everyone in so many ways. I know this team has shown so much care and has helped each other selflessly. At so many moments in doing one's very best, I have seen folks embody 'what would you do, if you were not afraid', and surpass our wildest dreams." On his new venture, he said, "I will share more in due course." SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/solicitor-general-tushar-mehta-clarifies-in-supreme-court-sebis-2016-gdr-probe-had-nothing-to-listed-adani-cos/articleshow/100304594.cms">Solicitor General Tushar Mehta clarifies in Supreme Court SEBI’s 2016 GDR probe had nothing to do with listed Adani cos</a> <a href="https://www.businessinsider.in/india/news/indians-booking-airbnb-for-international-visits-doubled-in-q1-2023-uk-us-europe-emerge-top-destinations/articleshow/100306451.cms">Indians booking Airbnb for international visits doubled in Q1 2023; UK, US &amp; Europe emerge top destinations</a> <a href="https://www.businessinsider.in/business/corporates/news/ondc-not-an-immediate-risk-for-zomato-and-swiggy-as-lower-prices-are-due-to-discounts/articleshow/100298963.cms">ONDC not an immediate risk for Zomato and Swiggy as lower prices are due to discounts</a>

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