Tag: BUSINESS

Business

Ola Electric’s 4X Expansion: 4,000 Stores to Boost Business and EV Adoption in December

Dec 2, 2024 by Mansi Praharaj 0 Comments #Boost, #BUSINESS

Bengaluru, December 2, 2024: Ola Electric, India’s largest pure-play EV company, today announced plans for a four-fold expansion of its company-owned store network to 4,000 by December 20, 2024.

With over 3,200 new stores set to open, Ola Electric will operate India’s largest EV distribution network, covering all the country’s pincodes. It is one of the world’s most significant expansions of the EV footprint, bolstering access, growth, and adoption in the country. All the newly launched stores will be co-located with service facilities, strengthening the company’s service network across the country.

Regarding the expansion, Bhavish Aggarwal, Chairman & Managing Director, Ola Electric, said: “While India is swiftly moving towards electric mobility, Ola Electric’s massive network expansion will be a pivotal moment in the country’s journey towards #EndICEAge. With our wide D2C network and the touchpoints under our Network Partner Program, we will cover the entire country beyond tier-I and tier-2 cities. It will enable our best-in-class product offerings to democratise electric mobility, adding buoyancy to the domestic EV economy.”

Ola Electric retains market leadership despite traditional two-wheeler rivals ramping up EV sales through their decades-old dealer networks. The company’s current 800 stores are only one-fifth of the rival distribution points.

The company recently announced the launch of its Gig and S1 Z scooter range, comprising Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+, available at an introductory price of ₹39,999 (ex-showroom), ₹49,999 (ex-showroom), ₹59,999 (ex-showroom), and ₹64,999 (ex-showroom), respectively. The new range of scooters offers durable, reliable, affordable, and flexible solutions, including removable batteries, fulfilling personal and commercial use cases of rural, semi-urban, and urban customers. Reservations for the Gig and S1 Z series are open at just ₹499, and deliveries will begin in April 2025 and May 2025, respectively.

Ola Electric's 4X Expansion: 4,000 Stores to Boost Business and EV Adoption in December

In October, Ola Electric had announced a series of initiatives to enhance sales, after-sales, and ownership experience, including taking the store count to 2000 by March 2025. The company is now doubling down on the rollout plan to accelerate the EV adoption in large hinterland markets, the mainstay of two-wheeler sales.

The massive store expansion, with service centers alongside, will give momentum to the company’s #HyperService initiative launched recently. Additionally, the company introduced the Network Partner Program to onboard 10,000 partners across sales and service by the end of 2025. It also announced its EV Service Training Program with the aim of training 1 lakh third-party mechanics to make every mechanic EV-ready across India.

Besides the new launches, Ola Electric offers an expansive S1 portfolio with six offerings across attractive price points catering to customers with different range requirements. While the premium offerings S1 Pro and S1 Air are priced at ₹1,34,999 and ₹1,07,499, respectively, the mass market offerings include the S1 X portfolio (2 kWh, 3 kWh, and 4 kWh) priced at ₹74,999, ₹87,999, and ₹101,999, respectively.

At its annual ‘Sankalp’ event in August 2024, the company announced the launch of its Roadster motorcycle series, comprising Roadster X (2.5 kWh, 3.5 kWh, 4.5 kWh), Roadster (3.5 kWh, 4.5 kWh, 6 kWh), and Roadster Pro (8 kWh, 16 kWh). The motorcycles offer many segment-first technology and performance features, with their prices starting from INR 74,999, INR 1,04,999, and INR 1,99,999, respectively.

Business

Industries in Delhi urge shift from leasehold to freehold to boost India’s USD 5 Trillion economy goal by 2025

Oct 1, 2024 by Sujata Muguda 0 Comments #BUSINESS, #Business Growth, #Competitiveness, #Credit, #DDA, #Delhi Chapter of Indian Industries Association (IIA), #Dr. Mamta, #DSIIDC, #Economic Impact, #industries, #Investment, #Job Creation

Delhi, October 1st, 2024: The Executive Committee of Delhi Chapter of Indian Industries Association (IIA) held a meeting at the Jhandewalan Headquarters on September 30th, where members urged the Delhi Government, the Lieutenant Governor (LG) of Delhi, and the Union Government of India to implement a freehold policy for industrial units in Delhi.

IIA

 

 

Dr. Mamta, Chairperson of the Delhi Chapter, shared that Delhi has 29 notified industrial areas. While a scheme was introduced in 2005 to convert leasehold industrial properties to freehold, only a few have benefited from this. Government bodies like the DDA, DSIIDC, and the Industry Department have selectively applied this policy, leaving many industrial units without freehold status.

Dr. Mamta stressed that moving from leasehold to freehold is vital for unlocking the economic potential of these areas. This would attract more investments and help India achieve its $5 trillion economy target by 2025.

Main Points of the Appeal:

Business Growth: Freehold ownership would give industrial units more freedom to grow, innovate, and invest in new technologies, without the restrictions of lease agreements.

Increased Investment and Access to Credit: Freehold properties are considered more valuable by banks, making it easier for businesses to get loans and attract investors. This is crucial for supporting India’s economic development.

Enhanced Competitiveness: Industrial units in Delhi would be able to compete better with those in other regions that already have freehold status, leading to greater productivity and innovation.

Job Creation and Economic Impact: A freehold policy would lead to the expansion of industrial activities, creating jobs and developing new industrial hubs, all of which are important for reaching the $5 trillion economy goal.

Dr. Mamta urged that this policy should apply to all industrial units in Delhi, not just a few. If fully implemented, this would empower businesses to contribute more effectively to the economy and support India’s vision of becoming a $5 trillion economy by 2025.

Delhi’s industrial sector plays a key role in the state’s Gross State Domestic Product (GSDP) of $130 billion. By implementing a freehold policy, business operations would become easier, attracting more investments both from within India and abroad.

Industries in Delhi believe that this change would help support the government’s “Ease of Doing Business” initiative and boost economic growth.

News

Virat Kohli Reclaims Top Spot in Kroll’s Celebrity Brand Valuation Report with Brand Value of Nearly USD 228 Million

Jun 24, 2024 by Mansi Praharaj 0 Comments #Aviral Jain, #Bollywood, #brand endorsement portfolios, #Brand Value, #brand values, #brands, #BUSINESS, #Celebrity Brand Valuation Study, #India’s most powerful celebrity brands, #Kroll, #Kroll’s Celebrity Brand Valuation Report, #leading independent global risk and financial advisory solutions firm, #Managing Director, #ranking of India’s most powerful celebrity brands, #social media presence, #Valuation Advisory Services at Kroll, #Virat Kohli

MUMBAI/NEW DELHI: Kroll, the leading independent global risk and financial advisory solutions firm, announced today the launch of the ninth edition of its Celebrity Brand Valuation Study titled, “Brands, Business, Bollywood”. The study provides a ranking of India’s most powerful celebrity brands based on brand values derived from their brand endorsement portfolios and relative social media presence.

The overall brand value of the top 25 Indian celebrities included in the latest study is estimated at $1.9 billion in 2023, an 18% jump from the previous year.

Key findings of the report include:

● Virat Kohli reclaimed the number one spot with a brand value of $227.9 million, nudging Ranveer Singh to second place at $203.1 million.

● Shah Rukh Khan secures third position with a brand value of $120.7 million on the back of three blockbuster hits in 2023, marking his incredible return into India’s top five celebrity endorsers since 2020.

● Akshay Kumar dropped a rank this year to the fourth position with a brand value of $111.7 million while Alia Bhatt moves to fifth with a brand value of $101.1 million.

● Other notable movements include the meteoric rise in brand value of Kiara Advani moving from rank 16 to rank 12, and Katrina Kaif returned to the list of India’s most valued celebrity brands after five years.

Aviral Jain, Managing Director, Valuation Advisory Services at Kroll said, “Our report recognizes the expansion of celebrity-owned startups across various industries and the spectacular rise of Indian celebrities as global ambassadors of reputed global brands. The year 2023 also witnessed Bollywood’s powerful comeback to the film industry, with blockbusters breaking records to cross the $100 million mark—re-establishing Bollywood’s dominance in the film industry. The synergy between celebrity entrepreneurship, global star advocacy and the resurgence of Bollywood is set to redefine the dynamics of the entertainment and business industries.”

About Kroll

As the leading independent provider of risk and financial advisory solutions, Kroll leverages our unique insights, data, and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning risk, governance, transactions, and valuation. Our advanced solutions and intelligence provide clients with the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities.

News

Recognizing Excellence: Telugu Business Leaders Making Waves in the USA

Jun 20, 2024 by Mansi Praharaj 0 Comments #BUSINESS, #business excellence, #Business Excellence Awards 2024, #D C Manjunath, #Dallas, #entrepreneurs in Dallas, #Executive Board Member, #Government of Andhra Pradesh, #Hindu temples, #Indian economy, #Indian students in America, #Little Elm City, #Milpitas, #Mr ANIL SUNKARA, #Mr BALA Indurthi, #Mr Bapaiah Nuthi, #Mr Dayakar Puskoor, #Mr G Atma Charan Reddy, #Mr Gopal Ponangi, #Mr J. A Choudhary, #Mr Kiran Pasham, #Mr Krisha Korada (APLLAZ), #Mr Maheswara, #Mr Nagendra Badaru, #Mr Nagendra Bandaru, #Mr Prasad Thotakura, #Mr Raja Doddala, #Mr Ram Nandhyala, #Mr Ramesh Gadiraju, #Mr Satish Manduva, #Mr Seshu Kalra (Soft Keys Inc), #Mr Sridhar Bendapudi (IT Bluebird), #Mr Sridhar Korsapati, #Mr Srikanth Gaddam, #Mr Suresh Manduva & Mr Satish Bandaru (TANTEX), #Mr Tony Singh, #Mr Venkateswara Chinni (Pelican Valley), #Mr Vijay Borra, #Ms Neel Gonuguntla, #Plano Mayor John B. Munns, #San Francisco, #Sri D C Manjunath Consul General of India, #STPI (Software Technology Park of India) Hyderabad, #Subba Row, #successful Telugu entrepreneurs in Dallas, #Technology Leadership & Future of AI, #Telugu, #Telugu Business Personnel in the USA, #Telugu Community, #Telugu films, #Telugu People, #Telugu Times, #Telugu Times Editor, #Telugu Times Editor and CEO Chennuri Venkata Subba Row, #Telugu-speaking people, #the United States of America., #TX, #WIPRO & President of Enterprise Futuring

D C Manjunath Consul General of India gave away the awards

The Telugu People are a very strong community in the USA. 40% of Indians studying in the USA are Telugu. Telugu is the fastest-growing language in the USA. Telugu is the USA’s third most-spoken Indian language. Approximately 10 lakh Telugu People live in America.

Hyderabad, June 20, 2024……Telugu Times, a publication that has been catering to the Telugu diaspora in the USA for the past 21 years, presented the second edition of Business Excellence Awards 2024 to successful Telugu entrepreneurs in Dallas, in the United States of America.

Sri D C Manjunath Consul General of India, was the Chief Guest. He appreciated the Telugu community’s role in the US economy and the Indian economy with growing remittances to India year after year. He also appreciated Telugu Times for serving the Telugu Community.

Mr J. A Choudhary, Former Adviser – IT&C, Government of Andhra Pradesh, who was Guest of Honor recalled how several IT Professionals benefited from STPI (Software Technology Park of India) Hyderabad in his tenure and congratulated the Entrepreneurs for their success and excellence.

The Award Winners were Mr Srikanth Gaddam, CEO -of ERPA, Columbus Ohio- IT Services Category; Mr Dayakar Puskoor, CEO- Dallas Venture Capital – Venture Capital and Investment Category; Dr Yogi Chimata, Dallas Renal Group, Dallas – Hospitals and Healthcare category; Mr ANIL SUNKARA, Producer- AK Entertainments, Dallas, TX – Cinema and Entertainment; Mr BALA Indurthi – President- Sankar Netralaya, Atlanta, GA – Community Service; Ms Geetha Dammanna – CEO- Dammanna Law, Dallas, TX – Legal; Mr Ramesh Gadiraju, A2B Sweets & Restaurants, – Hospitality; Mr Kiran Pasham, President- Splash BI, Atlanta, GA – IT Products Development; Mr Vijay Borra- CEO- DFW Lands, Dallas, TX- Real Estate; Mr Maheswara KAS- CEO, KK Software Associates, Columbus OH- IT Staffing.

Giving his opening remarks, Telugu Times Editor and CEO Chennuri Venkata Subba Row, Telugu Times embarked on this initiative last year to recognize and honour business excellence of the Telugu business community and showcase their talents to the world by honouring them with awards. Telugu in the USA is a very strong community. Nearly ten lahks Telugu people live in the USA. 40 percent of Indian students in America are Telugu. Telugu is the fastest-growing language in the USA. Telugu-speaking people are the largest ethnic group in the USA. Telugu people run several restaurants and theatres. Telugu films are released in the US one day before. More Hindu temples have come up in the USA. No Indian state has as robust a relationship as two Telugu states and the US have. The strength of our relationship is our people-to-people connections, strong democracy, and shared values, so he added that we felt the need for such an initiative.

Dayakar Puskoor CEO Dallass Venture Capital seen receiving Telugu Times Business Excellence Awards in VC & Investments Category

The rise in the Telugu population is attributed to the increasing representation of the Telugu diaspora in the technological field, especially after Y2K

“For the thousands of readers for whom Telugu Times has been an integral part of their Indian-American journey, ” Subba Row added.

The awards ceremony was first held in Milpitas, San Francisco in June 2023, and now for the second time it happened in Dallas, TX in June 2024.

Mr Nagendra Bandaru, Executive Board Member – WIPRO & President of Enterprise Futuring, delivered a Keynote address on Success in Technology Leadership & Future of AI, ably moderated by Mr Satish Manduva, CEO- Intelli Soft Technologies & Founder President- IT Serve Alliance.

Mr Raja Doddala, Head of Growth Equity & Investments- Churchill Asset Management spoke on VC Funding for Emerging Tech Firms & Growth Equity. The Fireside Chat was moderated by Mr Ram Nandhyala.

Plano Mayor John B. Munns, Mr Gopal Ponangi, Trustee, Frisco School District ISD, and Mr Tony Singh, Council Member – Little Elm City were present.

Mr Prasad Thotakura, Former President-TANA, Mr G Atma Charan Reddy, Former President- ATA, Mr Bapaiah Nuthi, Former President -NATS, Mr Sridhar Korsapati, Former President -NATA, Ms Neel Gonuguntla, US India Chamber of Commerce DFW and several other dignitaries of the Indian diaspora graced.

Mr Nagendra Badaru gave away Appreciation Mementos to Partners & Sponsors – Mr Suresh Manduva & Mr Satish Bandaru (TANTEX) Mr Sridhar Bendapudi (IT Bluebird), Mr Seshu Kalra (Soft Keys Inc), Mr Venkateswara Chinni (Pelican Valley), Mr Krisha Korada (APLLAZ) and others.

Business

VASA Indica Your way to the new Indica

May 16, 2024 by Sujata Muguda 0 Comments #BUSINESS, #DESIGN, #Devika Sakhuja, #Rishi Sakhuja, #STRATEGY, #VĀSA Indica, #Yuvraj Singh Shergill

New Delhi, 16th May 2024, Amidst the lively streets of New Delhi, VĀSA Indica is set to open its doors on May 17th at Regency One, marking the dawn of a revolutionary era in retail. Over 60 emerging designers will display their curated assortments. Nestled near Dhan Mill, the 5000 sq. ft. retail space offers a meticulously crafted haven where each brand’s vision can be explored and appreciated in an environment that is as inviting as it is inspiring.

Founded by a trio whose expertise spans BUSINESS, DESIGN, and STRATEGY, VĀSA Indica is the brainchild of Rishi Sakhuja, Devika Sakhuja, and Yuvraj Singh Shergill. Each brings a distinctive perspective to this brainchild: Rishi’s strategic direction and experience in the direct-to-consumer market, Devika’s impeccable eye for curation and luxury, and Yuvraj’s prowess in retail and real estate development. Together, they embody the ethos of The New Indica, offering strong support to Indian brands while boldly championing the essence of the Indica values.

VĀSA Indica Your way to the new Indica

One of the founders of VĀSA Rishi Sakhuja further adds “We seek to revolutionize Indian fashion, curating selections that reflect contemporary trends. Empowering modern buyers to express individuality with confidence, it envisions a future synonymous with accessible and diverse fashion and lifestyle”.

” VĀSA Indica offers modern consumers personalized styling assistance, handpicked events, and exclusive previews, shaping the environment into a dynamic nexus where craftsmanship, style, and commerce harmonize. Featuring brands like Ka-Sha from Pune, Divya Sheth from Kolkata, Mimamsa from Lucknow,Tilla from Ahmedabad,Ekadi from Bihar, Naushad Ali from Pondicherry, Art Chives from Mumbai & Ode-to-Odd from Ranchi amongst others who proudly champions the essence of the Indica ethos, With prices ranging from INR 10,000 to INR 75,000, luxury becomes accessible, bridging India’s artisanal heritage with modern aspirations.

The result is a destination where exclusivity feels accessible and where every piece of clothing or accessories comes with a narrative that adds to the larger story of Indian fashion. VĀSA Indica is poised to make its mark on Delhi’s style landscape, offering a refreshing, thoughtfully curated take on contemporary fashion that celebrates the best of India’s evolving identity.