On this episode, we are dissecting India - not from a nationalistic or anthropological lens, but as a business opportunity. What makes India's business landscape unique? Why are global tech giants flocking to an emerging economy in Asia with pitfalls like low LTVs, poor infra, low per capita income, etc? Can you even build a business serving the bottom 50% of the Indian population?
We answer these questions, and more in our chat with Viral Jani, the EVP and India Country Head, at Times Bridge, an arm of the Times Group that has helped leading global businesses like Uber, AirBnB, Canva & Coursera to set up operations in India.
This episode will help you see India in a new light.
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Speaker 1: Hi, I'm Sekar marketer, creative and media nerd. Welcome to
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Speaker 1: the you incorporated podcast On this show, I catch up
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Speaker 1: with some of the most bad ass founders, business leaders
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Speaker 1: and content creators in the whole wide world. Whether you're
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Speaker 1: a marketer, creative or a budding founder, if you want
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Speaker 1: to build your brand your voice your way, you are
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Speaker 1: in the right place.
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Speaker 1: Join me on the you incorporated podcast and start building
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Speaker 1: your empire. Here we go.
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Speaker 1: Please join me in welcoming viral Jani the E V
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Speaker 1: P and India Country head at Times Bridge, an arm
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Speaker 1: of the Times Group that helps global businesses to set
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Speaker 1: up operations in India. Welcome to the show Viral.
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Speaker 1: Hi, Thank you so much for having me on the show.
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Speaker 1: It's a pleasure. I've been listening to some of your
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Speaker 1: episodes so great to be here
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Speaker 1: really excited to have you there. So let's speak about
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Speaker 1: India as a market. And it's a typical Indian consumer
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Speaker 1: because from my understanding of what Times Bridge does based
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Speaker 1: on my two former stents at the Times Group, you
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Speaker 1: help global businesses set up their operations in India and
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Speaker 1: crack the Indian market. So what makes the Indian business
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Speaker 1: landscape so unique where you can't copy paste a model
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Speaker 1: that works globally.
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Speaker 1: Great question to start. Yes. Times Bridge is the venture
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Speaker 1: and global partnerships arm of the Times Group, and we
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Speaker 1: essentially work with handpicked few category creating companies. We help
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Speaker 1: them enter into India, achieve certain scale and growth, and
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Speaker 1: we work with some of the best in the world.
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Speaker 1: Our portfolio has been built over the last decade and
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Speaker 1: 15 plus illustrious companies. That's what we do. It's a
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Speaker 1: very interesting question that you ask, because working alongside global companies,
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Speaker 1: their world view about India is very different. And most
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Speaker 1: of the times when we start talking to these companies
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Speaker 1: and our partners, they look at India. Obviously, as this
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Speaker 1: massive market, the world's largest open Internet market is growing
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Speaker 1: at a very fast pace for the last 30 years. Uh,
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Speaker 1: it will continue to grow over the next 10 years
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Speaker 1: as well, so there is obviously a huge opportunity, right?
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Speaker 1: But then, as you start healing the layers of India,
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Speaker 1: one uncover uncovers many different aspects of India, right? That's
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Speaker 1: where we come in,
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Speaker 1: however attractive. The market looks like When you enter into
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Speaker 1: a market like India, it can be challenging, overwhelming in
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Speaker 1: many ways. And one thing which we talk very often
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Speaker 1: about is India suffers from superficial market entry syndrome. It
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Speaker 1: happens because India is an English speaking market. After the
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Speaker 1: u SI think India is the second largest English speaking
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Speaker 1: market and sitting out of anywhere in the world. You
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Speaker 1: can run a performance marketing campaign and you can easily
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Speaker 1: get a million users. But that that's where a lot
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Speaker 1: of people get a false start and false feeling of success.
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Speaker 1: That's where we feel there is so much that India
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Speaker 1: has to provide. There's a lot of cultural context that
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Speaker 1: comes in the picture when you are actually entering into India.
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Speaker 1: One way to answer your question about how India's market
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Speaker 1: is different from Western countries like US or Europe is
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Speaker 1: India has this, um, top top of the pyramid, which
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Speaker 1: is 50 60 70 million people. They're like any other
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Speaker 1: tier one European country, very global, that set of people
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Speaker 1: typically living in metros, and they are only on the
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Speaker 1: ball and like what's happening
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Speaker 1: Then there is the middle tier, which is 304 100
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Speaker 1: million people roughly the size of Indonesia, right? And that
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Speaker 1: can be defined as the aspiration of those last, which
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Speaker 1: is again be very clued into what's happening but not
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Speaker 1: necessarily very English forward and slightly lagging behind in terms
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Speaker 1: of trends. And then balance is around another almost 900
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Speaker 1: million to a billion people who are trying to meet
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Speaker 1: their ends meet but very high on aspirations.
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Speaker 1: That's where I feel India can be very big picture structured.
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Speaker 1: Of course, there are many languages and cultures and states.
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Speaker 1: India almost is microcosm of the world if one look
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Speaker 1: at and there's so many nuances that India has to
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Speaker 1: offer a slightly long winded way of answering the question.
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Speaker 1: But I thought it would be helpful to set that context.
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Speaker 1: I remember an episode from Fox Sports with Herb Hole,
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Speaker 1: where the host asked her, You get so many views
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Speaker 1: on your YouTube videos and on your podcast, and he
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Speaker 1: just said, There are just so many people watching in India.
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Speaker 1: You have to ask which million really speaking about the
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Speaker 1: business landscape. What are the couple of
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Speaker 1: big mistakes global entrepreneurs and global brands make when they
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Speaker 1: think about entering India as a market, the first one
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Speaker 1: from the outside, it all seems like 1.4 billion opportunities
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Speaker 1: wrapped into one. Entrepreneurs expect much easier when
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Speaker 1: into such a big opportunity, because one would apply the
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Speaker 1: same logic that they may have applied in other markets,
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Speaker 1: which are probably far more homogenous compared to market like India,
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Speaker 1: the expectation setting plays a huge role, and growth in
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Speaker 1: India is not linear. It can be low in the
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Speaker 1: initial few,
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Speaker 1: uh, quarters or years, and then it can really reach
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Speaker 1: an infection point and then it can take off from there.
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Speaker 1: And I think there are enough examples, be it in
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Speaker 1: the startup world or, let's say, even the traditional industries
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Speaker 1: where companies which have looked at India in a deep
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Speaker 1: way and I think with certain amount of patience and
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Speaker 1: certain amount of empathy when they enter into India, I
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Speaker 1: think that's where
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Speaker 1: they have been really able to make a huge difference
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Speaker 1: at U L. For example, and now Unilever India stands
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Speaker 1: really tall in the global scheme of Unilever. Similarly, Google
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Speaker 1: came in Meta came in uber came in Airbnb because,
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Speaker 1: like There are many examples who came in and who
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Speaker 1: have stayed, invested and tapped into the
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Speaker 1: the potential of the market and has shown empathy as
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Speaker 1: well as patience. And I think that's where you can
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Speaker 1: tend to reap the benefits out of India while we
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Speaker 1: speaking about India as a market, it has multiple pitfalls.
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Speaker 1: Low LTV s infrastructure is not as developed, but you've
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Speaker 1: made a sound business helping these huge global brands enter India.
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Speaker 1: So what is it that they see once they work
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Speaker 1: with you? What is the upside of working in a
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Speaker 1: market like India that they see there are few layers
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Speaker 1: to it for most mature and evolved set of entrepreneurs,
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Speaker 1: they do look at the big picture and I think
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Speaker 1: they look at India in the long term. I think
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Speaker 1: those are the people who tend to get one benefit,
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Speaker 1: which is really important. And once you attain a certain
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Speaker 1: scale in India, it allows you to get you certain
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Speaker 1: number of users right. And I think that is a
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Speaker 1: great starting point for many people. If there was a
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Speaker 1: particular app which may have, let's say, 10 million users,
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Speaker 1: which may not be big in terms of Indian scheme
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Speaker 1: of things, but it can be a significant size in
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Speaker 1: the global play. A lot of our partners now India
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Speaker 1: has become either the top user market or top most
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Speaker 1: engagement market or top most in some cases, even revenue
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Speaker 1: generating market.
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Speaker 1: That is a great shareholder value that gets created as
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Speaker 1: a starting point when you have a certain number of
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Speaker 1: users coming from an international market like India. But more importantly,
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Speaker 1: India is a microcosm of the world. It tends to
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Speaker 1: open many more doors. If you learn from what you
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Speaker 1: do in India, it can become a great foot in
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Speaker 1: the door for the emerging market scenario. So a lot
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Speaker 1: of companies that we work with learn from India, right?
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Speaker 1: And take those learnings to other
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Speaker 1: markets which they entered into those markets could be Southeast Asia.
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Speaker 1: They could be Africa, and some of it actually goes
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Speaker 1: back to even the Western world to give you an example.
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Speaker 1: Like uber, they never used to have cash as an
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Speaker 1: option payment options. But the first time they started doing
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Speaker 1: it in India, they introduced WhatsApp, for example. I'm sure
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Speaker 1: those are the kind of things which will now be
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Speaker 1: super helpful for them to take to other geographies. That's
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Speaker 1: the other significant advantage of India and then the third part,
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Speaker 1: which is again
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Speaker 1: not only looking at India as a user market but
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Speaker 1: also as a technology development market, India's soft power of
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Speaker 1: just the sheer number of techies that we have and
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Speaker 1: the intelligence and the the kind of manpower that we
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Speaker 1: have largest democratic workforce in the world, right?
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Speaker 1: The kind of advantage that again a lot of global
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Speaker 1: companies take is brilliant because India has become development centre
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Speaker 1: for global innovation. It's a huge value that gets unlocked
00:08:20
Speaker 1: in the sector that I work in Fintech. PayPal doesn't
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Speaker 1: have business operations in India, but it has offices in
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Speaker 1: Bangalore and in Hyderabad, where primarily tech talent sets out
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Speaker 1: of creating products for the global market for PayPal.
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Speaker 1: So while it might not make business sense for people
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Speaker 1: to operate in India, having its office in India helps
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Speaker 1: it get access to talent. And while offering employment to
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Speaker 1: Indians just to give a slight, nuanced version of that,
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Speaker 1: these companies are in a consumer tech space. Typically, they
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Speaker 1: their home countries. Are I OS? First, India is one
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Speaker 1: of the first frontiers they would enter into, which is
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Speaker 1: Android first.
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Speaker 1: And that itself is such a huge learning curve, right?
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Speaker 1: Of course. Now, with India having such amazing access to
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Speaker 1: fast speed Internet, obviously now that has helped these companies
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Speaker 1: to develop a really solid product strategy for the rest
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Speaker 1: of the world. I was watching this drama series called
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Speaker 1: Super the first couple of months
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Speaker 1: of uber. They would actually give iPhones to drivers to
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Speaker 1: onboard them on the Uber platform. You can't imagine that
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Speaker 1: happening in India. We're speaking about the Indian consumer. I've
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Speaker 1: heard so many V CS in my time as a journalist.
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Speaker 1: Mention about how the Indian consumer is the most spoiled
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Speaker 1: consumer on the planet.
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Speaker 1: Every V C across the world, every tech visionary in
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Speaker 1: the world is trying to get a piece of the
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Speaker 1: Indian pie, which then eventually means billions of dollars in
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Speaker 1: cash backs to Indian consumer. Do you think that we
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Speaker 1: are in some ways spoiled and the cattle has to
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Speaker 1: come home sometime soon? I don't know if I would
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Speaker 1: want to call Indian consumers being spoiled. I think it
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Speaker 1: was one of the tactics. Let's just say that it's
00:10:05
Speaker 1: one of the tactics that is being
00:10:07
Speaker 1: used by many startups to drive early adoption of new
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Speaker 1: technologies and new products. I think that's the way at
00:10:14
Speaker 1: least I look at it. And yes, this is one
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Speaker 1: way to let people try out new products. And I
00:10:19
Speaker 1: think to a certain extent that has worked because of
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Speaker 1: these freebies that were offered that has led to such
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Speaker 1: a fast adoption of
00:10:26
Speaker 1: products. And I think that's a good thing. Is this
00:10:28
Speaker 1: sustainable in long term? I don't think so. And somewhere
00:10:31
Speaker 1: the unit unit economics will come in the picture, and
00:10:35
Speaker 1: it is probably this year of 2022 where a lot
00:10:38
Speaker 1: of it is already kicking it. It was important in
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Speaker 1: the initial phase to drive this eruption,
00:10:43
Speaker 1: and, uh, it will somewhere, of course, slow down. But
00:10:45
Speaker 1: that doesn't mean that people will stop using these products,
00:10:48
Speaker 1: and the market is smart enough to find it. Sweet
00:10:50
Speaker 1: spot and Indian consumers are also smart enough. Once they
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Speaker 1: see the value in it, I think they will pay
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Speaker 1: for it, Uh, and they will pay a fair value
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Speaker 1: for it. They they may not overpay. I I think
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Speaker 1: Indian consumers are value conscious, not price conscious.
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Speaker 1: I think that's really important to know the difference, because
00:11:08
Speaker 1: once Indians Indian consumers know the value I think they'll pay.
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Speaker 1: That's the way I look at it. So an Indian
00:11:13
Speaker 1: consumer would pay for an Amazon prime, given that he
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Speaker 1: gets free ad free Amazon music thrown in with Amazon
00:11:21
Speaker 1: Prime video and some other stuff. But you can then
00:11:24
Speaker 1: make it and offer, let's say, a monthly plan and
00:11:27
Speaker 1: not a yearly plan to them. So the price point
00:11:29
Speaker 1: is slightly lower, but you're offering value. Those models will
00:11:33
Speaker 1: evolve, right? You can't copy paste, putting a credit card
00:11:36
Speaker 1: online and then put a monthly subscription model that will
00:11:39
Speaker 1: have limited takers in India. I think India will have
00:11:42
Speaker 1: to have, like you rightly sachet sized transactions, and it
00:11:46
Speaker 1: is actually working out really well in categories like gaming,
00:11:50
Speaker 1: where in APP purchases is doing really well in India.
00:11:53
Speaker 1: Certain short video platforms again in APP purchases are doing
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Speaker 1: really well in India, so I think once you price
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Speaker 1: it right and present, it is in the right format
00:12:01
Speaker 1: in terms of an S Q. U. I think in
00:12:02
Speaker 1: India Indians, Will you buy those products? Sure, coming back
00:12:06
Speaker 1: to the quirks of the Indian market. Can you make
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Speaker 1: a business serving the bottom 50% of the Indian audience?
00:12:15
Speaker 1: And what are the kinds of businesses you think a
00:12:17
Speaker 1: global company can create if they are serving the bottom 50%?
00:12:21
Speaker 1: That's a great question. You're absolutely spot on that A
00:12:23
Speaker 1: lot of industry folks may have overestimated India. Stam.
00:12:28
Speaker 1: It has to be in context of a timeframe. If
00:12:31
Speaker 1: you look at India's time in next 35 years, uh,
00:12:34
Speaker 1: it has a certain limitation.
00:12:36
Speaker 1: But then, if you look at a slightly longer term horizon,
00:12:39
Speaker 1: I think that will change. They love to learn from history,
00:12:41
Speaker 1: and a similar thing would have been posed to someone
00:12:44
Speaker 1: like Unilever. When they enter into India, how do you
00:12:47
Speaker 1: serve a mass market in a country like India? And
00:12:50
Speaker 1: I think that takes patience, learning, experimenting and aggressive approach.
00:12:56
Speaker 1: That same can apply to the digital equivalent of today's
00:12:59
Speaker 1: day and age to specifically answer your question. Yes,
00:13:02
Speaker 1: there is definitely an opportunity to make money out of
00:13:06
Speaker 1: let's say, even if you were to go below the 50%
00:13:09
Speaker 1: of the Pyramid of Indian Population and I think it
00:13:12
Speaker 1: will need some tweaking and some sort of changes approach right.
00:13:15
Speaker 1: There are definitely products which can find takers. Entertainment would
00:13:19
Speaker 1: definitely find takers, right Communication again. Find takers right? It's
00:13:23
Speaker 1: already being used by products like WhatsApp products like YouTube
00:13:27
Speaker 1: products
00:13:27
Speaker 1: like short video apps basically products which are solving offline
00:13:31
Speaker 1: problems when they turn into an online mode. I think
00:13:34
Speaker 1: those are the ones which will definitely find Take Us.
00:13:37
Speaker 1: So Again, what gives me confidence is the fact that
00:13:40
Speaker 1: a product like U P I has such a wide
00:13:43
Speaker 1: adaption and people from various status of life are using it.
00:13:46
Speaker 1: So I think that anything and everything which solves the
00:13:49
Speaker 1: offline problem, be it finance, be it shopping, be it
00:13:53
Speaker 1: agriculture, be it health. Everything has potential and again presented
00:13:59
Speaker 1: in the right format. I think the product,
00:14:02
Speaker 1: the U I. U X would look very different. The pricing,
00:14:06
Speaker 1: if at all you are going to price it, it
00:14:07
Speaker 1: will look very different and those are the kind of
00:14:10
Speaker 1: nuances one has to obviously work on, but at a
00:14:12
Speaker 1: very broad level. I do feel that it is possible
00:14:15
Speaker 1: to have a sustainable model in India from a lower
00:14:18
Speaker 1: tier mass market.
00:14:20
Speaker 1: And you presume most of this or almost all of
00:14:23
Speaker 1: this to be ad led Or, uh, there is, uh, any,
00:14:28
Speaker 1: if at all option for entrepreneurs to be charging people
00:14:32
Speaker 1: subscription revenues, I think a lot of it would be
00:14:35
Speaker 1: ad led. But I do feel that there would definitely
00:14:37
Speaker 1: be smaller ticket size transactions if one was to think
00:14:40
Speaker 1: a bit out of the box
00:14:42
Speaker 1: and arrive at a SKU, which is let's size. I
00:14:46
Speaker 1: think those kind of pricing models can definitely be a
00:14:50
Speaker 1: good way to test waters when it comes to driving subscription, uh,
00:14:54
Speaker 1: revenue model. And I'll give you an example. I think
00:14:56
Speaker 1: there are few apps in entertainment. They position themselves as
00:14:59
Speaker 1: Netflix for dialect, and there are some of these companies
00:15:02
Speaker 1: which are already doing it right. There are really interesting
00:15:05
Speaker 1: ways to make these transactions happen. So, for example, could
00:15:08
Speaker 1: you utilise the offline
00:15:10
Speaker 1: ecosystem of pawn shops in smaller towns and rural areas?
00:15:14
Speaker 1: What if one has to think a bit out of
00:15:15
Speaker 1: the box and figure out ways to deliver these vouchers. Sure,
00:15:20
Speaker 1: let's come back to speak about the Indian consumer. How
00:15:24
Speaker 1: is the consumer acquisition journey in India for the first
00:15:29
Speaker 1: million users fundamentally different from markets like US or UK?
00:15:33
Speaker 1: We often tell our partners, and we have seen this
00:15:36
Speaker 1: in our experience.
00:15:38
Speaker 1: The first million, or let's say, a few 100 or
00:15:41
Speaker 1: a million, actually is
00:15:44
Speaker 1: not drastically different from what they would do in, let's say,
00:15:48
Speaker 1: in other markets like Europe or US, you're getting the
00:15:51
Speaker 1: early adopters. Basically, yeah, the early adopters, right? And I
00:15:53
Speaker 1: think that segment in India is actually very global right
00:15:56
Speaker 1: folks living in Bangalore and Mumbai and their worldview is
00:16:01
Speaker 1: not very different from folks living in New York or
00:16:03
Speaker 1: London because we are consuming that media, and we are
00:16:07
Speaker 1: aware of what's happening and all of that. It's important
00:16:09
Speaker 1: to keep certain cultural nuances
00:16:11
Speaker 1: in mind about those and be aware of those because
00:16:15
Speaker 1: I think that will allow you to keep that first
00:16:17
Speaker 1: million engaged in the longer term. I think that's where
00:16:20
Speaker 1: one has to be slightly more targeted. Instead of having
00:16:23
Speaker 1: a spray and pray model find the right demographic, find
00:16:27
Speaker 1: the right psychographic and find the right community, which one
00:16:31
Speaker 1: would want to tap into. So that at least when
00:16:34
Speaker 1: a large chunk of the first million that you acquire
00:16:36
Speaker 1: give you a longer term value.
00:16:38
Speaker 1: And I think that's where the sort of trick is
00:16:41
Speaker 1: having an understanding of the local market, bringing empathy in
00:16:45
Speaker 1: your communication, making sure that you are talking to the
00:16:48
Speaker 1: right customer at the right time. Those are a few
00:16:51
Speaker 1: things which are very important and can actually drastically reduce
00:16:55
Speaker 1: your cost of acquisition. Most mobile products globally would have only,
00:16:58
Speaker 1: let's say, credit card as a payment more. But in India,
00:17:01
Speaker 1: you have
00:17:02
Speaker 1: U P I and other payment wallets connected can make
00:17:05
Speaker 1: a difference. Those are small things which at times which
00:17:08
Speaker 1: have over time created almost a repository. You likely touched
00:17:12
Speaker 1: upon something which led me on to my next question,
00:17:15
Speaker 1: which is. India has a very unique payments infrastructure as well,
00:17:19
Speaker 1: especially with U. P I, which is this new payment
00:17:22
Speaker 1: system that's unheard of globally.
00:17:25
Speaker 1: But we have a very strict digital payment mandates with
00:17:29
Speaker 1: tonne organisation coming in. How has that impacted your clients
00:17:32
Speaker 1: and their operations in India. That's again a great question. Yes,
00:17:36
Speaker 1: completely agree on how evolved India as a market is
00:17:40
Speaker 1: from a payments ecosystem. I think it's probably right up
00:17:43
Speaker 1: there higher, better or equal to the best in the world.
00:17:46
Speaker 1: India Stack
00:17:48
Speaker 1: itself is a game changer because this is not stopping
00:17:51
Speaker 1: at payments. It is also going to go into O
00:17:54
Speaker 1: n DC, which is enabling E-commerce platforms. Then there is health.
00:17:58
Speaker 1: So I think it's just a starting point of so
00:18:00
Speaker 1: many things that will fundamentally shift
00:18:03
Speaker 1: the whole digital infrastructure of the country, which is all
00:18:05
Speaker 1: very good for everyone, all stakeholders. But now, coming to
00:18:08
Speaker 1: your question about how some of these newer regulations are
00:18:12
Speaker 1: affecting some of our partners, I think they're definitely getting affected.
00:18:16
Speaker 1: All companies which are operating in a recurring payment space
00:18:20
Speaker 1: have gotten affected by these newer regulations. These are really
00:18:25
Speaker 1: important measures
00:18:26
Speaker 1: that has taken but in the short term impacted some
00:18:29
Speaker 1: of our partners and many other players. But we are
00:18:31
Speaker 1: proactively working on products which are going to solve these problems.
00:18:35
Speaker 1: Do you see in the near future, just like with
00:18:39
Speaker 1: data over time, this will impact more companies in a
00:18:43
Speaker 1: way where they would want to set up a local
00:18:45
Speaker 1: office so that they can localise payments and then so
00:18:48
Speaker 1: for
00:18:49
Speaker 1: they were serving Indian consumers a bit more remotely, I
00:18:52
Speaker 1: think this will definitely compel them to rethink their India strategy.
00:18:56
Speaker 1: And it does require a bit more commitment and change
00:18:59
Speaker 1: of strategy. It will all depend on how much is
00:19:02
Speaker 1: India of value to them. Based on that, they will
00:19:04
Speaker 1: either solve for it or not solve for it. In
00:19:06
Speaker 1: most cases, they will want to solve for it and
00:19:09
Speaker 1: you will be laughing your way to the bank very soon.
00:19:12
Speaker 1: It's not just that we'll be happy to help more
00:19:15
Speaker 1: of global ideas and navigate this unique challenge that is
00:19:18
Speaker 1: in front of us. Absolutely. Let's speak about just the reverse,
00:19:22
Speaker 1: which is Indian products going global. Do you see more
00:19:27
Speaker 1: Indian products going global and what are the kind of
00:19:30
Speaker 1: products coming out of India that are more likely to
00:19:33
Speaker 1: be accepted? I think one category which has already seen
00:19:36
Speaker 1: decent amount of success,
00:19:38
Speaker 1: is S a our enterprise products. It's a really sweet
00:19:41
Speaker 1: spot for Indian companies which are successful in the ecosystem
00:19:46
Speaker 1: to build in India. So the global market it's a
00:19:49
Speaker 1: no brainer. It was already seeing traction. It will continue
00:19:52
Speaker 1: to grow bigger and bigger, but I do feel there
00:19:55
Speaker 1: will be many more. I do believe there will be
00:19:57
Speaker 1: a lot of consumer tech companies
00:20:00
Speaker 1: which will go global. And again, I'm not saying global
00:20:03
Speaker 1: means everywhere in the world. They may start with certain
00:20:06
Speaker 1: markets which are similar to India, right? Like, let's say,
00:20:09
Speaker 1: right operates in Dubai and a couple of other U.
00:20:12
Speaker 1: A u Markets, right? Yeah, exactly. So that's one kind
00:20:15
Speaker 1: of category. Then there are many companies in the Fintech space.
00:20:18
Speaker 1: Could be that companies in the health tech space, for example,
00:20:21
Speaker 1: again in the Middle East or
00:20:22
Speaker 1: or Southeast Asia or African markets. There will be many
00:20:25
Speaker 1: such categories which will start looking at global markets. And
00:20:29
Speaker 1: then there is also direct to consumer goods. There are
00:20:33
Speaker 1: many D two C brands, which potentially have a huge
00:20:36
Speaker 1: upside looking outside of India. Some of that can be
00:20:39
Speaker 1: in markets like Middle East but also European and American market,
00:20:42
Speaker 1: because India has such rich history, culture
00:20:45
Speaker 1: and especially products, which are health focused, vegan or ingredients
00:20:52
Speaker 1: which are unique to India. Those are the kind of
00:20:54
Speaker 1: products which can travel across the world. I'm pretty bullish
00:20:58
Speaker 1: about at least these three categories. And because Indian diasporas
00:21:01
Speaker 1: so strong. Now I think India, in general, if I
00:21:03
Speaker 1: were to use India, is a trending the now globally
00:21:07
Speaker 1: and I think that's why all things India will start
00:21:10
Speaker 1: seeing upliftment. I'm sure there will be a few decades
00:21:13
Speaker 1: of India now to come. And that's the way I
00:21:15
Speaker 1: look at the India story.
00:21:17
Speaker 1: And with that, it's a wrap. Thank you so much
00:21:21
Speaker 1: for being on the podcast. Guys, please tune in next
00:21:24
Speaker 1: week for the next episode of the U Incorporated podcast.
00:21:28
Speaker 1: Thank you so much for having me. It was a
00:21:30
Speaker 1: pleasure talking to you.
00:21:35
Speaker 1: Thank you for tuning into the U incorporated podcast with me.
00:21:41
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