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The G20 Summit adopted the New Delhi Declaration on September 10, 2023, paving the way for sustainable and inclusive growth. The declaration is a comprehensive document that covers a wide range of issues, including climate change, global food security, and digital transformation.

Key Takeaways

One of the key takeaways from the declaration is the commitment of G20 members to work together to achieve the Sustainable Development Goals (SDGs). The declaration acknowledges that the world is not on track to meet the SDGs by 2030, and calls for urgent action to accelerate progress.

The declaration also emphasizes the importance of sustainable and inclusive growth. This means ensuring that all people have the opportunity to benefit from economic growth, regardless of their background or circumstances. The declaration calls for G20 members to invest in education, healthcare, and social safety nets, and to promote gender equality and social inclusion.

In addition to these key takeaways, the New Delhi Declaration also covers a number of other important issues, including:

• Climate change: The declaration reaffirms the commitment of G20 members to the Paris Agreement, and calls for urgent action to reduce greenhouse gas emissions.
• Global food security: The declaration acknowledges the challenges posed by the global food crisis, and calls for G20 members to work together to ensure food security for all.
• Digital transformation: The declaration recognizes the important role of digital transformation in driving economic growth and development. It calls for G20 members to promote digital access and inclusion, and to develop international rules and standards for digital technologies.

Conclusion

The New Delhi Declaration is a significant step forward in the G20’s efforts to promote sustainable and inclusive growth. It provides a clear roadmap for action on a number of key issues, and it demonstrates the G20’s commitment to working together to build a better future for all.

Temasek, a sovereign wealth fund of Singapore, has led a $140 million funding round in Ola Electric, an electric scooter maker in India. The investment round values Ola Electric at $5.4 billion, making it one of the most valuable electric vehicle companies in India.

Other investors in the round include SoftBank Vision Fund 2, Edelweiss, and Matrix Partners India.

Ola Electric said that it will use the funding to expand its manufacturing capacity and launch new products. The company is currently building a factory in Tamil Nadu that is expected to have a capacity of 10 million electric scooters per year.

Ola Electric is one of the leading electric scooter makers in India. It has sold over 500,000 electric scooters since its launch in 2019.

The investment in Ola Electric is a sign of the growing interest in the electric vehicle market in India. The Indian government is offering subsidies and other incentives to promote the adoption of electric vehicles.

The investment is also a vote of confidence in Ola Electric’s business model. The company has a strong track record of execution and is well-positioned to capitalize on the growth of the electric vehicle market in India.

Here are some of the key takeaways from the funding round:

• Temasek’s investment is a major endorsement of Ola Electric’s business and its prospects in the electric vehicle market.
• The funding will help Ola Electric expand its manufacturing capacity and launch new products.
• The investment is a sign of the growing interest in the electric vehicle market in India.
• The investment is a vote of confidence in Ola Electric’s management team and its ability to execute on its plans.
• In addition to the funding, Temasek will also be providing Ola Electric with strategic guidance and support. This is a significant development for Ola Electric, as it will help the company to accelerate its growth and expansion plans.

The investment in Ola Electric is a major milestone for the company and for the electric vehicle market in India. It is a sign of the growing confidence in the potential of electric vehicles and the commitment of investors to support the growth of this sector.

Kenko Health, a health financing startup, has partnered with Tata 1mg, a leading digital healthcare platform, to make healthcare more accessible and affordable for millions of Indians.

Through this partnership, Kenko Health will leverage Tata 1mg’s vast supply chain and reach to offer a wider range of essential medical products and services to its customers. This includes prescription drugs, over-the-counter medications, diagnostic tests, and wellness products.

Kenko Health will also offer its customers financing options to help them afford the cost of healthcare. This includes installment plans, interest-free loans, and discounts on copays.

“We are delighted to partner with Tata 1mg to make healthcare more accessible and affordable for millions of Indians,” said Nikhil Behera, Head of Business Operations at Kenko Health. “Together, we can remove the financial barriers that prevent people from getting the care they need.”

“We are committed to making quality healthcare more accessible to everyone,” said Ambareesh Mandelia, SVP and Head of Corporate Health & Wellness at Tata 1mg. “This partnership with Kenko Health is a significant step towards that goal.”

The partnership between Kenko Health and Tata 1mg is expected to benefit millions of Indians who are struggling to afford healthcare. It is a major step towards making healthcare more accessible and affordable for all.

Key benefits of the partnership:

• Wider range of essential medical products and services
• More affordable healthcare options
• Convenient and easy-to-use platform
• Trusted brands

How to avail of the benefits of the partnership:

• Visit the Kenko Health website or app
• Create an account and select the healthcare products or services you need
• Apply for financing and get approved instantly
• Receive your healthcare products or services at your doorstep

About Kenko Health

Kenko Health is a health financing startup that provides affordable and convenient healthcare solutions to individuals and families. The company offers a variety of financing options, including installment plans, interest-free loans, and discounts on copays. Kenko Health is committed to making quality healthcare more accessible to everyone.

About Tata 1mg

Tata 1mg is a leading digital healthcare platform that provides a wide range of healthcare products and services to consumers across India. The company offers prescription drugs, over-the-counter medications, diagnostic tests, and wellness products. Tata 1mg is committed to making quality healthcare more affordable and accessible to everyone.

Zepto, a 10-second grocery delivery startup, has raised $200 million in funding at a valuation of $1.4 billion. This makes it India’s first unicorn of 2023 and the 108th unicorn in India overall.

Zepto was founded in 2021 by Stanford University dropouts Aadit Palicha and Kaivalya Vohra. The company operates a network of micro-warehouses in urban areas, which allows it to deliver groceries within minutes. Zepto currently operates in seven Indian cities, including Mumbai, Delhi, and Bengaluru.

The company’s latest funding round was led by StepStone Group and Goodwater Capital. Existing investors Nexus Venture Partners, Glade Brook Capital, and Lachy Groom also participated in the round.

Zepto’s funding comes at a time when the quick commerce market in India is growing rapidly. The market is expected to reach $500 billion by 2025. Other players in the market include Blinkit, Grofers, and BigBasket.

Zepto plans to use the new funds to expand its operations to more cities and to develop new products and services. The company also plans to go public by 2025.

Why Zepto is a Unicorn

There are a number of reasons why Zepto has become a unicorn. First, the company has a strong team with a proven track record. The founders are both Stanford University graduates, and they have experience in the e-commerce industry.

Second, Zepto has a unique business model that is well-suited to the Indian market. The company’s micro-warehouses allow it to deliver groceries within minutes, which is a major advantage over traditional grocery stores.

Third, Zepto has seen strong growth since its inception. The company has raised over $300 million in funding, and it is currently operating in seven Indian cities.

The Future of Quick Commerce in India

The quick commerce market in India is still in its early stages, but it is growing rapidly. The market is expected to reach $500 billion by 2025. Zepto is one of a number of startups that are vying for a share of this market.

The future of quick commerce in India is uncertain. The market is still young, and there is no clear leader. However, the market is growing rapidly, and there is a lot of potential for growth.

Zepto is well-positioned to succeed in the quick commerce market. The company has a strong team, a unique business model, and strong growth. Zepto is one of the leading players in the market, and it is likely to continue to grow in the years to come.

In addition to the reasons mentioned above, Zepto has also benefited from the increasing popularity of online grocery shopping in India. A recent study by NielsenIQ found that online grocery sales in India grew by 70% in 2021. This growth is being driven by a number of factors, including the convenience of online shopping, the rising disposable incomes of Indians, and the increasing availability of smartphones and internet connectivity.

Zepto is well-positioned to capitalize on this growing trend. The company’s micro-warehouses allow it to deliver groceries within minutes, which is a major advantage over other online grocery retailers. Zepto is also targeting a younger demographic, which is more likely to adopt online shopping.

The quick commerce market in India is still in its early stages, but it is growing rapidly. Zepto is one of the leading players in the market, and it is likely to continue to grow in the years to come.

Introduction

Reliance Industries, India’s largest conglomerate, has agreed to acquire Future Retail Limited (FRL) for ₹247 billion (approximately $3.4 billion) in a deal that has been mired in controversy.

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The deal, which was announced in August 2020, would give Reliance control of FRL’s retail, wholesale, and logistics businesses. FRL is the second-largest retailer in India, with over 1,700 stores across the country.

The deal has been opposed by Amazon, which has a 49% stake in Future Coupons, a company that owns a 7.3% stake in FRL. Amazon has argued that the deal violates an earlier agreement between the two companies, which gave Amazon the right to veto any sale of FRL assets to a rival.

The deal has also been challenged by FRL’s creditors, who have argued that the company is not in a financial position to sell its assets.

Despite the challenges, Reliance is confident that the deal will go through. The company has said that it is committed to completing the acquisition and that it will work with all stakeholders to address their concerns.

The acquisition of FRL would be a major coup for Reliance, which is looking to expand its retail footprint in India. The deal would give Reliance a significant presence in the offline retail market, which is still the dominant channel for retail sales in India.

The deal would also help Reliance to compete with Amazon and Walmart, which are the two largest e-commerce players in India. By acquiring FRL’s offline retail assets, Reliance would be able to offer customers a seamless shopping experience across online and offline channels.

The acquisition of FRL is a significant development in the Indian retail landscape. It remains to be seen whether the deal will be completed, but it is clear that Reliance is serious about expanding its retail business in India.

Conclusion:

The proposed acquisition of Future Retail by Reliance Industries is a major development in the Indian retail sector. The deal, which is still subject to regulatory approvals, would give Reliance a significant presence in the offline retail market and help it to compete with Amazon and Walmart. The deal is also likely to face legal challenges from Amazon, which has a stake in Future Coupons. However, Reliance is confident that the deal will go through and that it will help it to achieve its goal of becoming the dominant player in the Indian retail market.

Here are some of the key takeaways from the article:

• Reliance Industries is acquiring Future Retail for $3.4 billion.
• The deal is still subject to regulatory approvals.
• Amazon is opposing the deal, arguing that it violates an earlier agreement between the two companies.
• FRL’s creditors are also opposing the deal, arguing that the company is not in a financial position to sell its assets.
• Reliance is confident that the deal will go through and that it will help it to achieve its goal of becoming the dominant player in the Indian retail market.

India’s economy is expected to grow at 6.5% in the current fiscal year (FY24), according to the Chief Economic Adviser (CEA). This growth is supported by strong services activity and robust demand. The CEA also said that there is no real cause for concern about inflation, as both the government and the Reserve Bank of India (RBI) are taking adequate steps to maintain supply and keep prices under check.

The services sector is the key driver of growth, with growth of 8.3% in the April-June quarter of FY24. This is due to the continued recovery of the tourism and hospitality sectors, as well as the growth of e-commerce and other IT-related services. The manufacturing sector is also growing at a healthy pace, with growth of 7.1% in the same quarter. This is due to the revival of investment and the expansion of production capacity.

Government spending is also expected to boost growth, with the government increasing its capital expenditure target for FY24. The government is also taking steps to boost infrastructure development, which will further support growth.

The CEA said that inflation is expected to remain under control in FY24. The RBI has already taken steps to contain inflation, such as raising interest rates. The government is also taking steps to control inflation, such as increasing the production of essential commodities and providing subsidies to farmers.

The main risks to growth are the ongoing war in Ukraine and the slowdown in the global economy. The war in Ukraine has led to higher commodity prices, which could dampen demand and growth. The slowdown in the global economy could also reduce demand for Indian exports.

Despite the risks, the CEA is confident that India’s economy will grow at 6.5% in FY24. The government and the RBI are taking steps to mitigate the risks and ensure a smooth economic growth trajectory.

In addition to the above, here are some other factors that could affect India’s GDP growth in FY24:

• The monsoon season: A good monsoon season is essential for agricultural production and rural incomes, which would boost overall demand.
• The global oil price: A rise in oil prices could lead to higher inflation and slower growth.
• The US Federal Reserve’s monetary policy: The Fed is expected to raise interest rates in the coming months, which could lead to capital outflows from emerging markets like India.

Conclusion

Overall, the outlook for India’s GDP growth in FY24 is positive. However, there are some risks that could derail growth. The government and the RBI will need to closely monitor these risks and take timely action to mitigate them.

India’s leading e-commerce company, Flipkart, has raised $3.6 billion in funding from investors led by SoftBank Vision Fund 2. The funding round also saw participation from existing investors, including Walmart, CPP Investments, and GIC.

The fresh capital will be used by Flipkart to accelerate its growth and expansion plans in India. The company plans to invest in new categories, expand its reach to Tier 2 and Tier 3 cities, and strengthen its logistics and supply chain capabilities.

Flipkart is the largest e-commerce company in India by gross merchandise value (GMV). The company has over 300 million registered users and over 1.5 million sellers on its platform. Flipkart also operates several other businesses, including Flipkart Wholesale, Flipkart Fashion, and Flipkart Health+.

The funding round is a vote of confidence in the Indian e-commerce market. The market is expected to grow at a CAGR of 25% over the next five years. Flipkart is well-positioned to capitalize on this growth, given its strong market position and track record of innovation.

Here are some of the key areas where Flipkart will be investing the new funding:

• New categories: Flipkart plans to invest in new categories, such as electronics, home appliances, and furniture. This will help the company to reach a wider range of customers and to grow its market share.
• Expansion to Tier 2 and Tier 3 cities: Flipkart plans to expand its reach to Tier 2 and Tier 3 cities. This will help the company to capture the growing demand for e-commerce in these markets.
• Logistics and supply chain: Flipkart plans to strengthen its logistics and supply chain capabilities. This will help the company to improve the speed and efficiency of deliveries.
• Technology and innovation: Flipkart plans to invest in technology and innovation. This will help the company to develop new products and services that meet the needs of its customers.

The funding round is a major boost for Flipkart and for the Indian e-commerce market. It is a sign that investors are confident in the long-term growth prospects of the market. Flipkart is well-positioned to capitalize on this growth, and it is expected to continue to be a leader in the Indian e-commerce market in the years to come.