Page 40 - The Men Who Built Empires - Some started from scratch. Some inherited. And some are taking forward the legacy. That difference apart, they are similar. They are the best CEOs

Page 46 - ITC: Weaving The Future - In his 20 years at the helm, Yogesh Deveshwar has transformed ITC into a diversified group of companies

Page 52 - Kotak Mahindra Bank: A Matter Of Principal - Uday Kotak believes in playing big innings, whether acquiring an insurance space, or expanding its portfolio

MARKETING, COMMUNICATION, media and creativity are subjects that
are very close to my heart, for I have not only seen this sector first-hand
for more than two-and-a-half decades but am also an intrinsic part of
it. This issue, therefore holds a special meaning for me. In this edition,
where we continue to delve into the transformative effects of technology
across various sectors, we spotlight the dynamic world of marketing and
advertising that is pivotal in shaping consumer perceptions. This sector is
undergoing a rapid evolution with the integration of generative AI. The past
year has been particularly insightful. Despite a slowdown in several sectors,
including among Indian startups, companies like boAt and Noise have
boldly increased their advertising expenditures. This trend underscores
the broader realisation among marketers that robust investment in brand
building is critical, especially in times marked by global challenges and
uncertainties. It’s a strategic move that aims to solidify market presence
and ensure long-term business success.

GLOBAL LEADERS who see India as a land of opportunities, take into
account greener pastures and the emerging sectors that are creating
unprecedented growth avenues. In this special issue, we delve into an
extraordinary and burgeoning segment of the Indian economy that merges
ancient traditions with avant-garde technology – the Spiritual Tech sector.
Encompassing a wide array of services – from astrology and faith tech to
numerology and temple tourism – this sector has witnessed a significant
boom, with the market for spiritual services in India catapulting to $58.6
billion in 2023. Powered by revolutionary technological innovations like
online darshans, this market not only sustains India’s cultural essence but
also offers immense potential for startups. Spiritual tech services could
grow to a market size that goes beyond $127 billion by 2032.

A FEW MONTHS AGO, I had found myself in sole charge of Sydney, who my
wife Niti and I consider our third offspring after Prarthna and Prasann.
Caring for our family’s golden retriever had been a shared task till then, so
I discovered to my surprise that her lifestyle was certainly more enviable
than mine and many I know. I was amazed at the amount of time, money
and attention that goes into pet care. When I mentioned this at the office,
I learnt that I was among the very few not fully aware of the passion with
which pet parents in India care for their charge. I was enlightened. Like
many pieces of a puzzle coming together, I could clearly see all the dots
connecting, to create an emerging pet care industry in India.
At BW Businessworld, we are keen to explore new sectors. Driven by
various reasons, new opportunities are arising on the horizon, opening
doors for young entrepreneurs, creating jobs and eventually contributing
to India’s growing economy. One of the first we deep dive into is the Indian
pet care industry. In this case, much credit can be given to pet parents
and the passion with which HNI (high-net-worth individual) households
spend on their pets.

DEAR READER,
Our annual issue on Most Influential Women is a celebration of Indian
women who are inspiring change and progress. The power list features
achievers driving sustainable growth across India and beyond. There is
always a buzz of excitement across our offices when we start on this project.
Advisory board members and editorial leads send in recommendations,
heated debates ensue and finally, the list is drawn up. The thing about such
a list is that there is seldom space enough to acknowledge all the inspiring
women leaders India has. That said, let’s look at our list this year.

DEAR READER,
Fiscal 2022-23 was a challenging year for the world and for India because
of uncertainties that arose from heightened geopolitical tensions and the
impact they had on trade relations and investment flows. Even so, India
Inc. powered through – showing great resilience. We map the India growth
story in our annual BW Real 500 rankings, in partnership with TechSci
Research, that has selected only listed organisations based on their total
income generated in the 2022-2023 fiscal.
Some findings of this study stand out. First, the top 15 companies account
for nearly 71 per cent of the cumulative income generated by the top 50
companies and almost 50 per cent of the total income generated by all
500 companies in the list. Secondly, the top 50 companies accounted for
over 70 per cent of the total income generated by all the 500 companies.
However, the top five companies in the BW Real 500 list could generate a
combined total income of Rs 38.7 lakh crore, a significant drop from the
FY2022 numbers of Rs 100.34 lakh crore, clearly reflecting the global
headwinds. Reliance Industries (RIL) continued its great run, emerging
as India’s largest and most profitable private sector company once more.  Happy reading!

IN THE LAST FEW YEARS, the story of wearables, smartwatches and
true wireless audio has been nothing short of remarkable. The category’s
narrative is about growth but the bigger takeaway is how homegrown
brands lead and dominate. The likes of Apple, Samsung and Oppo were not
able to dent the market shares of home-grown boAt, Noise, Boult Audio,
Fire Boltt and their ilk. The ‘Make in India’ story is prominent, reiterating
that when the right people identify a market gap and provide a solution that
works, they are likely to succeed.
Against this backdrop, it is interesting to note that a category that grew
nearly 35 per cent in the preceding year is expected to grow in single digits
in 2024. This may not sound very positive but if you look at the details, you
can see the natural progression. If one observes how the category leaders
are behaving, for example, the multi-X growth in the likes of advertising
expenses or research & development, one can see that these players are
eyeing a bigger pie. They plan to build the category further and find a new
consumer base to be able to overcome the setback anticipated this year,
as our cover feature illuminates. Who could elucidate this strategy better
than the founders of Noise, Amit and Gaurav Khatri? Noise remained
bootstrapped for nearly a decade before accepting its maiden investment
from a global conglomerate like Bose. For those who know the space, this
is signal enough that Noise is going all out as the challenger brand in the
true wireless category. Our cover interview captures Amit and Gaurav’s
thoughts on their long-term growth plan.

THE WORLD’S LARGEST stock exchange on Wall Street has now had
the longest initial public offering (IPO) winter since 1980. The New York
Stock Exchange saw a meagre 154 firms debut with their primary offers
of shares in 2023, from a whopping 1,000 IPOs in 2021, primarily owing
to the high-interest rates that have dashed hopes of high valuation of
stocks. The Indian capital markets belied the trend, as our cover story
revealed in July 2023, showing how IPOs were beginning to flock back
to the markets after a barren spree in 2022.

Happy Reading!

FINANCE MINISTER Nirmala Sitharaman has indicated that
the interim budget that she will present on 1 February will be shorn of
“spectacular announcements”, as indeed the vote-on-account on the eve
of a national general election inevitably is. Even so, the hopeful hope that
Sitharaman’s last budget presentation in her current term, will bear good
tidings for select demographics like women, the farming community,
industry and the tax payer. Our package on the Union Budget compiles
voices from industry, think tanks and our own inhouse experts in a bid
to predict the contents of the finance minister’s red tablet pouch. Ashish
Sinha picks up trends from past interim budgets and maps a pattern that
indicates that the upcoming interim budget too may play a pivotal role in
shaping India’s future economic roadmap.

Happy Reading!

AT THE END OF A YEAR described as one of the bleakest in recent history,
an outlook report of the International Monetary Fund had stated, “The
worst is yet to come, and for many people, 2023 will feel like a recession.”
A consensus emerges that 2023 has been able to overcome the financial
challenges on its path. The global economy has shown resilience,
notwithstanding geopolitical tensions, as has India’s domestic economy.

Do read our interview with someone I see as a global leader, Mr Piyush
Pandey. His work across the last four decades have impacted advertising,
influenced public opinion and made a difference. Piyush transitions into
an advisory role at Ogilvy but we expect more from this super leader in
the times ahead. The marketing and advertising sector per se is gearing
up for a busy 2024 as we see home-grown agency RK Swamy prepare for
its IPO. This issue also features the next generation of marketing leaders
in one of our special initiatives.
Of course, we also bring to you all our regular columns and features that
you look forward to. We wish you a Happy New Year!

NOVEMBER IS KNOWN to be the best month to be in Dubai, when its
skies are clear, the sea breeze is balmy and temperatures hover around a
pleasant 25 degrees Celsius. On the last day of November 2023, the throng
there was 70,000 strong from the 200 nations that took part in the United
Nations Climate Conference, COP28. Metaphorically heat had been
building up over a United Nations Framework Convention on Climate
Change summit being hosted by the oil and gas rich United Arab Emirates
(UAE). The irony of the beneficiaries of the fossil fuel market joining forces
with climate activists and environmentalists to work toward a transition
to a world fueled by green energy was not lost on most.

AT THE END OF EACH YEAR, dictionaries come up with the word of the
year. This year, while Cambridge Dictionary announced ‘hallucinate’ as
the word of the year, Collins Dictionary chose the more apt – ‘AI’. Artificial
intelligence has created more buzz this year than any other development.
Seminars and reams of newsprint for columns and articles have been
devoted to it. Apart from AI two other terms are defining the world of work
and business – VUCA (volatility, uncertainty, complexity and ambiguity)
and BANI (Brittle, Anxious, Non-Linear and Incomprehensible).
As a management institute honcho we interviewed for this special
B-School edition says, “The biggest risk for corporates, including Fortune
500 CEOs, is uncertainty, as business cycles are constantly changing.
Thus, the biggest challenge for B-Schools is preparing talent to navigate
uncertainty and volatility, and to be resilient.” This is the theme that has
influenced BW Businessworld’s rankings of B-Schools in 2023. The top
order of rankings remains largely unchanged, comprising mostly firstgeneration
IIMs and top-notch private B-Schools. Several new-generation
IIMs and private institutes agile enough to mould and remould their
curriculum to industry requirements are, however, also knocking at the
doors of the elite club. New-age programmes, mentoring by industry
experts, faculty projects and executive management programmes whose
learnings are ploughed back into the flagship MBA programmes, and
longer internships are some of the new measures that B-Schools have
introduced to stay relevant.
 Happy reading!

INDIA’S GROWTH STORY has so far defied oil price shocks and the
consequent spikes in prices of essentials, geopolitical doldrums like the
persisting Russia-Ukraine war and the vagaries of nature like floods and
storms. The major stock markets in India, the BSE and the NSE, have so
far saluted this epic-in-the-making and then suddenly in October, share
prices of companies in key sectors like banking, telecommunications,
metals, utilities and healthcare began to slide. What portends to be a
trend comes on the eve of a scheduled deluge of initial public offerings
(IPOs) of companies big and small.


Happy reading and Happy Diwali!
ANNURAG BATRA
 anurag.batra@businessworld.in
WHICH WAY ARE STOCK
PRICES HEADED?

THE LUXURY MARKET has been growing since Covid, despite the 
uncertainties around the globe. Reports suggest that the consumer base 
of the luxury market will expand from about 400 million people in 2022 to 
500 million by 2030, by when its market size too is slated to swell three-fold. 
The market itself will evolve, weaving in personalisation, convenience and 
sustainability as it copes with consumer preferences. 

Of course, we also bring to you all our regular columns and features that 
you look forward to. Happy reading.

ECOMMERCE IN INDIA has achieved an astonishing level of growth, demonstrating
the outstanding leadership and resilience of major players like Amazon India
and Flipkart. The enthusiastic embrace of digital platforms, the diverse array of
products on offer and the evolving preferences of consumers – from small towns
to mega metropolises – have been among the myriad factors that have driven this
persistent expansion. This remarkable digital journey of the Indian marketplace
is truly a cause for celebration.
Our cover story in this issue tells the story of one of the country’s largest tech
and ecommerce players, Amazon India. With over 100,000 employees, Amazon
stands out as a mega employer in the private sector. It is committed to digitising
10 million small businesses, facilitating $20 billion in ecommerce exports, and
generating two million direct and indirect jobs through the country. Manish
Tiwary, Vice President and Country Manager of Amazon India’s consumer
business, tells us that Amazon has already made significant strides towards these
goals, having digitised over 6.2 million small businesses, enabled cumulative
exports worth $8 billion, and created over 1.3 million direct and indirect jobs
in India.

WE LIVE IN EXCITING times, when India is literally reaching for the moon
and mars and conquering the universe with its innate goodwill. For India
now, every step needs to be measured, to ensure that we do not slip from
a trajectory built assiduously over a decade. Every economic, political or
even geopolitical leap has traditionally been saluted by the nation’s vibrant
stock markets, as investors, foreign, domestic and retail, demonstrate
their confidence in the fundamentals of the economy. This exuberance
percolates through the bourses, where the share of retail or small investors
have grown exponentially with the rise in disposable income of the salaried
classes. A tremendous maturity in the financial markets while this suggests
in a country where household savings have traditionally been ploughed
into gold or landholdings, memories of the massive bull run and the stock
market debacle of 1992, is bound to haunt many.

INDIA, AS A SHINING STAR in the global economy, has witnessed the rise
of million-dollar, sustainable, and large-scale businesses. From far-sighted
pioneers like Sanjeev Bhikchandani and Dr A. Velumani to contemporary
titans like Binny Bansal and Mithun Sacheti, the journey of wealth creation
has been diverse and dynamic. These entrepreneurs share a common goal:
to forge unmatched, revenue-generating, and fundamentally sustainable
Indian enterprises. As we traverse the timeline of Indian businesses
and entrepreneurial leadership, it becomes clear that the strategies and
approaches to business have evolved significantly, leaving us to ponder the
future course for the next generation of entrepreneurs.
In the last three years alone, wealth creation in India has been nothing
short of spectacular. The mavericks of the business world have not only
built thriving enterprises but have also set the stage for newer, bolder exits,
be it through cash deals, as we saw recently with CaratLane, founded by
Mithun Sacheti, or initial public offerings (IPOs). This evolving narrative
presents a compelling blueprint, poised to transform India into a nation
of entrepreneurs. As we look ahead, the future of India’s entrepreneurial
landscape is set to be an exhilarating voyage, fuelled by innovation, vision,
and an unwavering commitment to excellence.

We hope the issue has some interesting takeaways for our readers.

ON 23 AUGUST the Made-in-India Rover Chandrayaan -3 soft
landed on the moon, propelled into space from an Indian launch
pad at Sriharikota. The moon mission as the world knows now, was
accomplished by Indian scientists and spearheaded by the Indian
Space Research Organisation (ISRO), a government-funded entity.
The ISRO is not the only government-owned agency that is in step
with global compatriots, many Maharatnas are too. Maharatnas like
the Oil and Natural Gas Corporation, the Steel Authority of India
Limited and Indian Oil Corporation are public sector behemoths with
major market shares in their respective domains and most now have
footprints overseas. They do India proud. So, Prime Minister Narendra
Modi’s retort in Parliament on Congress leader Rahul Gandhi’s remarks
about the health of Hindustan Aeronautics Limited was more than a
jibe. Many market experts second the Prime Minister’s advice that it is,
indeed, worth betting on the PSUs.

Happy reading!

THE PRIME MINISTER’S Independence Day speech reiterated a vision
he has shared with the nation across a decade now, that of the “dream
of a developed India by 2047”. He said “it’s not just a dream but a resolve
of 1.4 billion citizens. To fulfill that resolve, hard work is essential, but our
national character is the most significant force”. It must be that national
character that keeps segments of the economy afloat in the most trying of
times. Even as indices of industrial production show a slide in most sectors,
as commodity markets grapple with supply glitches and wavering demand,
some sectors of the economy ride at full throttle, among them automotives,
the paints industry and fast moving consumer goods (FMCG).
Happy reading!

IN THE EVER-EVOLVING landscape of technology, the advent of Web3
signals a new era of decentralisation and digital empowerment. Often
described as the decentralised internet, Web3 embodies a paradigm shift
from traditional centralised platforms to a peer-to-peer, communitydriven
ecosystem. Powered by blockchain technology, it promises increased
transparency, security and user control. As we navigate the complexities of
this nascent terrain, it becomes evident that the journey of Web3 has only
just begun. Of course, every technological innovation has its naysayers
and the market volatility and regulatory hurdles witnessed in trading
cryptocurrencies has already led to some scepticism.
 Happy reading!

MORE OFTEN than not, in our roles as chroniclers of the economy, we are required
to take an aerial view, if I may call it that, of the direction in which change is
setting forth. The more I see the transformation in India today, the impact that
it has on people and progress, the more I feel we are in the moment of history,
where India is creating its ‘valley of good’.
With Aadhar, we took an important step to create a national identity system,
that was strong enough not only to give people secure access to benefits but also to
push sectors such as telecom and banking forward. It lay down the guardrails that
enable inclusion and democratisation, the digital India that our Prime Minister
envisions. The Indian government’s policies, exemplified by initiatives such as
the United Payments Interface and the Open Network for Digital Commerce,
have paved the way for a more equitable future. By placing a strong emphasis on
financial inclusion, India is shattering barriers and rewriting the rules of the
game.
 Happy reading!
ANNURAG BATRA
 anurag.batra@businessworld.in

SUSTAINABILITY has long ceased to be a mere buzz word that embellishes
balance sheets and brands. The concept has penetrated board rooms and
traditional professions like that of chartered accountancy. Chartered
accountants (CAs) for instance, have evolved from book-keepers to gate
keepers of good governance and sustainable business practices.
Our cover feature in this issue focuses on the corporate sector, which
is steadily doing its bit to ensure that India achieve its Net Zero target
by 2070. Several Indian corporate houses have set decarbonisation
targets internally to become carbon neutral by 2050 or before. Ground
reports show roadblocks though, such as the absence of a clear policy and
technical framework and the high costs involved in switching to more
sustainable business practices. India Inc. also needs to reconsider its
supply chain planning, product innovation, and employee training to
achieve its sustainable goals. The BW Businessworld Study on India’s Most
Sustainable Companies (IMSC) undertaken in partnership with Sustain
Labs Paris is an effort to put the subject front and centre.

Happy reading

THE YEAR 2023 is expected to wow corporate houses keen to raise
funds from the capital markets. Market experts feel that unlike in
2022, initial public offerings (IPO) this year should exceed market
expectations. A recent Ernst & Young (EY) report describes IPO
trends as “stable” and promises a positive outlook. In the first quarter
of FY2024 India led in terms of IPOs issued globally and a promising
pipeline of IPOs wait to debut in the second half of 2023 and beyond.
These IPOs should cumulatively rake in more than Rs 1 lakh crore from
the capital markets over the next ten months. It is worth noting that the
participation of retail investors has exploded, evident in the impressive
surge in Demat accounts from four crore in 2019 to 11.6 crore in April
this year, at an average monthly addition of 1.5 to two million new
accounts every month!

Happy reading!

Dear Readers,
ON 26 MAY 2023, the Narendra Modi government completed nine years
of office amidst a media blitz, as the Press and political pundits got about
speculating on the outcome of the 2024 general elections. We, here at BW
Businessworld look back at the high points of Prime Minister Modi’s nine
years in office too, but with insights from industry stalwarts on what has
changed in the spheres of business and the economy. We also map the
milestones of PM Modi’s leadership in a graphic illustration.
This issue of the magazine also features the winners of the sixth edition
of BW CFO World’s Best CFO & Finance Strategy Awards. The Best Chief
Financial Officers demonstrated their acumen by successfully steering
their firms through macroeconomic headwinds to ensure sustained
growth and value creation. As the line between the roles of the CFO and
CEO blurs, CFOs tend to play a more active role in realising the CEO’s
vision of the business. As they exhibit the vision and agility to prepare
their firms to tackle unforeseen economic challenges, the oft bestowed
epithet of the Chief Future Officer rings true.

Happy reading!
ANNURAG BATRA
 anurag.batra@businessworld.in

Dear Reader,
Verghese Kurien and the Operation Flood mission that he led, are
milestones in India’s economic history. Operation Flood replicated the
Anand Pattern of cooperative dairy farming across the country, turning
a nation deficit in milk in the 1950s and 1960s, to the world’s largest milk
producer. The Anand Pattern spearheaded a White Revolution and the
‘Amul’ brand soon became a household name. But where does Amul go
from here? Our team travelled to the Milk Capital of India, Anand – home
to the Gujarat Co-operative Milk Marketing Federation (GCMMF) or
Amul – for a special report.

ANNURAG BATRA
 anurag.batra@businessworld.in

Dear reader,
I am elated to present to you the annual BW Businessworld YEA special. I am
convinced that there’s no better time to be an entrepreneur than now. Even if
the economy faces global headwinds and uncertainties due to the war, even if
rapid advances being made by Science & Technology make the future absolutely
unpredictable, entrepreneurship presents before us an opportunity which is
exciting, rewarding and fulfilling at the same time.
To get a sense of this, look no further than the rise of many innovation-based
companies in India, some founded by very young entrepreneurs, during the
Covid-19 pandemic.

Do keep sending your reviews and feedback.
Happy reading!
ANNURAG BATRA
 anurag.batra@businessworld.in

Dear reader,
After having overtaken China, India is now the most populous nation in the
world. The fastest growing large economy, the “bright spot” in the world, and now
heading G20 presidency, India is always a major talking point at international
fora.
With an impressive economic report-card, and ambitious developmental
targets, India will have a high percentage of working-age population at least
for the next two decades. While many high-income economies have greying
population, and China’s working population, too, declining, India’s unique
demographic dividend must be harnessed to its fullest. This will ensure that
while India makes rapid economic strides, it also exports skilled workforce to
all over the world. The skilled workforce has a direct bearing on the economy.
Talking about the economy, industry leader Rashesh Shah, in the last issue
of BW Businessworld, talked about India’s “The Quadruple Balance Sheet
Advantage”. This is also reflected in the corporate balance sheets.

Do keep sending your feedback.
Happy reading!

Dear reader,
India’s G20 Presidency, and the year-long events, have justifiably generated a
buzz, and even excitement, here. True, it’s a rotating presidency. True, India has
held the position in the past, too. But given the current geo-political challenges,
and the headwinds that the global economy faces, many expect the G20, under
India’s presidency, to be much more than a global ideation lab.
While the G20 Presidency has geo-political repercussions, it has a significant
bearing on the Indian economy and businesses, too. Consider this: India’s
infrastructure – both physical and digital – has seen a massive boost in recent
years. With year-long events being held across India, our urban infrastructure
is set to get a massive boost. Coming to specifics, whether it’s the global tourism
industry or the MICE market, India has a miniscule share. The G20 Presidency
and the year-long events present to us an opportunity to significantly increase
India’s presence in both these sectors. This is a point that was highlighted by G20
Sherpa Amitabh Kant, in an interview to BW Businessworld.

Do keep sending your feedback
Happy reading!

Dear reader,
In an interview with BW Businessworld recently, Infosys founder N.R. Narayana
Murthy said that “respect from stakeholders must top corporates’ vision
statement”. He has often said that when he wanted to build Infosys, he was not
looking at creating the “most profitable company”, or the “largest company by
market cap”. Instead, he wanted to create “the most respected company”.
Indeed, “respect” even if it’s an intangible, does wonders to a company’s topline
and bottomline in the long run. When it gets all stakeholders’ respect, it sets an
example for others, too.
Like every year, BW Businessworld, in its current issue, presents India’s Most
Respected Companies.
The 2023 edition of Most Respected Companies (MRC) study is perceptionbased,
and it examines corporate social responsibility, women-friendly policies,
a rewarding work culture, in addition to an effective growth plan and financial
returns. This year’s survey was conducted by our knowledge partner, TechSci
Research. The study mapped the current perception levels in the minds of
employees and self-employed individuals in India.

Today, women are playing leading and significant roles in all spheres. They are
setting unprecedented records. They are awakened and are holding leadership
positions in many areas. Their ideas, thoughts and values can lead to the creation
of a happy family, ideal society and a prosperous nation.”
– President Droupadi Murmu
To achieve gender equality, we may well have to wait for another 300 years, if
the current rate of progress continues, warns a UN report. The report highlights
that the women’s condition has got a lot worse in the last three years, in the face
of the Covid-19 pandemic, conflicts and climate change.
We are, however, impatient for change. Waiting for three centuries for
something as fundamental as gender equality is not an ideal situation.
On the International Women’s Day recently, we renewed our resolve to achieve
gender equality and equity. We, at BW Businessworld, marked the day with a
series of events where we invited top women business and corporate leaders to
share insights on how to make the transition to a just, equal world quicker, faster.
It’s only proper, then, that the current issue of BW Businessworld showcases
and celebrates women power: women leaders of India Inc and policy space who
have risen against all odds, and set examples for others – men and women alike.
The list of BW Businessworld Most Influential Women (MIW) proves women
leaders always leave their mark – no matter how big the hurdle is.

EVERY CRISIS is also an opportunity for new learnings, for new affirmations,
for new beginnings. The Hindenberg Research report on the Adani Group
erupted into one such crisis with ripple effects in the spheres of business and
finance. While the world awaits the denouement of this saga, we bring to you
well-researched reports and opinion on what could have gone wrong in this
otherwise mesmerizing story of one of the fastest growing business empires
of the day. A special package in this issue brings to you voices from different
domains of the financial sector that dissect the imbroglio and prescribe lessons
for the future.
The growing concerns in the technology sector are evidence enough that even
if a new equilibrium is higher than its predecessor, the act of balancing requires a
slump. Even so, some sectors of the Indian economy have been braving the odds
and ploughing on through many travails. In this edition of BW Businessworld we
focus on the steadily evolving direct-to-consumer (D2C) market that impacts
our daily lives, but seldom grabs headlines. A Modor Intelligence report assesses
the total addressable D2C market in India at $33.1 billion in 2020 and predicts
that it will grow to $100 billion in 2025.

Happy reading!

May 04, 2024

April 20, 2024

April 06, 2024

March 23, 2024

March 09, 2024

February 24, 2024

February 10, 2024

January 27, 2024

January 13, 2024

December 30, 2023

December 02-16, 2023 (Double issue)

November 18, 2023

November 04, 2023

October 21, 2023

October 07, 2023

September 23, 2023

BW Businessworld is a fortnightly magazine that has been published since 1975. It is one of the most popular business magazines in India, and it is known for its in-depth reporting and analysis of the Indian business world. It also features interviews with leading business leaders and entrepreneurs. It's a guide to the ever-changing business landscape.

In every issue, you'll find:

* In-depth analysis: Get the latest insights on the big trends that are shaping the business world.
* Expert interviews: Hear from the thought leaders who are shaping the future of business.
* Case studies: Learn from the successes and failures of other businesses.
* Industry reports: Get the lowdown on the latest developments in your industry.
* And more: BW Businessworld also features articles on a variety of other topics, such as leadership, innovation, and technology.

BW Businessworld is a must-read for anyone who wants to make sense of the business world. It is the only magazine that provides comprehensive coverage of the latest trends and insights, from the perspective of the world's leading business thinkers. 

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1. Usted acepta que el uso de Magzter.com, la aplicación y sus servicios son bajo su propio riesgo. Ni Magzter.com ni sus asociados ni empleados ni proveedores de contenido de terceros garantizan que el servicio será completamente ininterrumpido o libre de errores o infalible contra actividades maliciosas. Tampoco garantizan que obtendrá los resultados exactos esperados o prometidos por el sitio web o el producto.

11. EL SERVICIO Y TODAS LAS PUBLICACIONES SE PROPORCIONAN 'TAL CUAL' Y 'SEGÚN DISPONIBILIDAD'. MAGZTER, SUS AFILIADOS, PROVEEDORES, LICENCIANTES Y AGENTES RENUNCIA EXPRESAMENTE A TODAS LAS GARANTÍAS DE CUALQUIER TIPO, YA SEA EXPLÍCITA O IMPLÍCITA, INCLUIDAS, ENTRE OTRAS, LAS GARANTÍAS IMPLÍCITAS DE COMERCIABILIDAD, IDONEIDAD PARA UN FIN DETERMINADO Y NO VIOLACIÓN. SIN LIMITAR LO ANTERIOR, NI MAGZTER NI SUS AFILIADOS, PROVEEDORES, LICENCIANTES O AGENTES OFRECEN NINGUNA GARANTÍA DE QUE (I) EL SERVICIO CUMPLIRÁ CON SUS REQUISITOS, (II) EL SERVICIO SERÁ ININTERRUMPIDO, PUNTUAL, SEGURO O LIBRE DE ERRORES, ( III) LA INFORMACIÓN QUE PUEDE OBTENERSE DEL USO DEL SERVICIO O QUE PUEDE ESTAR CONTENIDA EN LAS PUBLICACIONES SERÁ EXACTA O CONFIABLE, O (IV) LA CALIDAD DE CUALQUIER PUBLICACIÓN O DEL SERVICIO CUMPLIRÁ CON SUS EXPECTATIVAS. USTED ES EL ÚNICO RESPONSABLE DE OBTENER Y MANTENER UNA CONECTIVIDAD CONFIABLE A INTERNET Y SU DISPOSITIVO. MAGZTER NO ES RESPONSABLE DE SU INCAPACIDAD PARA DESCARGAR CONTENIDO. CUALQUIER MATERIAL DESCARGADO U OBTENIDO DE OTRO MODO A TRAVÉS DEL USO DEL SERVICIO SE REALIZA BAJO SU PROPIA DISCRECIÓN Y RIESGO Y USTED SERÁ EL ÚNICO RESPONSABLE DE CUALQUIER DAÑO A SU SISTEMA INFORMÁTICO O DISPOSITIVO MÓVIL O PÉRDIDA DE DATOS QUE RESULTE DE LA DESCARGA DE DICHO MATERIAL. NINGÚN CONSEJO O INFORMACIÓN, YA SEA ORAL O ESCRITO, OBTENIDO POR USTED DE MAGZTER O A TRAVÉS DEL SERVICIO CREARÁ NINGUNA GARANTÍA.

2. Mantendrá y actualizará de inmediato esa información para mantenerla verdadera, precisa, actual y completa. Usted es responsable de mantener la confidencialidad de su cuenta y contraseña y de restringir el acceso a su computadora, y acepta aceptar la responsabilidad de todas las actividades que ocurran en su cuenta, incluida la selección y el uso de todo el contenido y los servicios.

3. En ningún caso Magzter.com o cualquier persona o entidad o tercero involucrado en la creación, producción y distribución del contenido en el sitio web y la aplicación será responsable por contrato o legalmente por cualquier daño, incluidos, entre otros, directos, indirectos, incidentales, especiales y consecuentes incurridos por usted durante o al usar Magzter.com. Al registrarse en el sitio web o descargar la aplicación, acepta que las disposiciones mencionadas en esta sección se aplicarán a todo uso y contenido del sitio web y la aplicación.

3. Sin el permiso previo por escrito o autorizado de Magzter, no debe modificar, copiar, distribuir ni vender ningún contenido obtenido de Magzter, ya que todo lo publicado aquí es propiedad exclusiva de Magzter o sus licenciantes. Dado que dicho uso no autorizado también puede violar las leyes aplicables, incluidas las leyes de derechos de autor y marcas registradas, Magzter las prohíbe estrictamente y cancelará su acceso y su cuenta si se prueba o detecta dicha actividad ilegal. También debe ser responsable de los daños causados por estas actividades no autorizadas. Salvo que lo permita el propietario legítimo de la Publicación, usted reconoce que no adquiere ningún derecho de propiedad al descargar las Publicaciones a las que accede a través del Servicio. Salvo que lo exija explícitamente la ley de derechos de autor o lo permitan las características del Servicio, no puede modificar, aplicar ingeniería inversa, publicar, transmitir, exhibir, participar en la transferencia o venta, crear obras derivadas de, o de ninguna manera explotar comercialmente o proporcionar a un tercero el contenido de la Aplicación, las Publicaciones o cualquier parte de ellas sin el permiso expreso de Magzter y el propietario de dicho contenido. No le otorgamos ninguna licencia, expresa o implícita, de la propiedad intelectual de Magzter o de los licenciantes de Magzter.

5. Usted reconoce específicamente que Magzter.com no es responsable de ningún tipo de conducta difamatoria, ofensiva o ilegal de otros usuarios o terceros o su contenido y que el riesgo de lesión por lo anterior recae completamente en usted.

8. Magzter se reserva todos los derechos de monitorear el contenido publicado e ingresado por usted con el fin de determinar si cumple con estos términos y condiciones y otras reglas operativas determinadas por Magzter. Magzter tiene derecho a tomar decisiones sobre los contenidos y eliminarlos a su propia voluntad.

9. Magzter es un distribuidor y NO un editor de las Publicaciones, por lo que Magzter no tiene control editorial sobre el contenido, incluidas opiniones, consejos, declaraciones, servicios, ofertas, etc., que se representa en las revistas. Por lo tanto, Magzter no asumirá responsabilidad por la exactitud o confiabilidad de cualquier información o hecho proporcionado en el mismo o que esté disponible a través del servicio, por cualquier persona que no sea empleados autorizados de Magzter que estén actuando en sus capacidades oficiales. En consecuencia, no tenemos control editorial sobre las Publicaciones. Cualquier opinión, consejo, declaración, servicio, oferta u otra información o contenido expresado o puesto a disposición por terceros, incluidos los realizados en las Publicaciones ofrecidas por el Servicio, son de los respectivos autores o editores y no de Magzter. Magzter no será responsable de ninguna pérdida o daño causado por su confianza en la información obtenida a través del Servicio o de las Publicaciones. El Servicio puede contener enlaces a otros sitios de Internet y recursos de terceros y Magzter no asume ninguna responsabilidad por las comunicaciones o materiales disponibles en dichos sitios vinculados. Estos enlaces se proporcionan únicamente para su comodidad. Usted es el único responsable de comprender los términos y condiciones que puedan aplicarse cuando visita o realiza un pedido a través de un sitio de terceros.

El acceso, la navegación y el uso del sitio web de Magzter, los servicios de Internet y las aplicaciones para dispositivos móviles ('Aplicación') están sujetos a los siguientes Términos y condiciones ('Términos'). Por favor, lea estos Términos detenidamente. Crear una cuenta con Magzter ('nosotros', 'nosotros') o usar cualquier servicio o aplicación de Magzter o relacionado con Magzter significará que ha leído, entendido y acepta estar sujeto a estos Términos y cumplir con todas las leyes aplicables y reglamentos Estos Términos constituyen un acuerdo vinculante entre usted y Magzter Inc. y sus afiliados. Si no está de acuerdo con estos Términos, no puede usar el Servicio. ESTOS TÉRMINOS CONTIENEN RENUNCIAS DE GARANTÍA Y OTRAS DISPOSICIONES QUE LIMITAN LA RESPONSABILIDAD DE MAGZTER, POR LO QUE POR FAVOR LEA ESTOS TÉRMINOS EN SU TOTALIDAD. Magzter se reserva el derecho de cancelar inmediatamente su acceso al sitio web, servicio o aplicación relacionada con Magzter, si no cumple con este acuerdo. El sitio web de Magzter, los servicios de Internet y las aplicaciones para dispositivos móviles constituyen colectivamente el 'Servicio'. Este Servicio es propiedad y está operado por Magzter Inc. El Servicio incluye el sitio web www.magzter.com y la aplicación que le brinda la capacidad de ordenar, suscribirse y recibir la entrega de varias revistas, libros, noticias y contenido relacionado con revistas y publicaciones. (conocidos colectivamente como 'Publicaciones') y recibir estas versiones digitales de las Publicaciones.

 Detalles del contenido objetable, incluido su enlace en nuestra plataforma

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Regara a tus seres queridos una Tarjeta de regalo de Magzter y dales la libertad de leer sus revistas favoritas entre {{magCount}} títulos internacionales de mayor venta.

Girish Ramdas es cofundador y director ejecutivo de Magzter, una empresa nueva con sede en Nueva York que ha estado causando sensación en el negocio editorial digital mundial. Magzter ha superado los 80 millones de usuarios desde su creación en 2011 de más de 150 países con miles de revistas, periódicos y libros de más de 4500 editoriales de todo el mundo. Tiene más de 25 años de experiencia en publicación multiplataforma, incluido el desarrollo web, móvil y impreso. Durante este período, cofundó y dirigió tres exitosas empresas emergentes. Ha permitido que las empresas de revistas se vuelvan digitales y las ayuda a monetizar su contenido en todo el mundo digital. La profunda experiencia de Girish en la industria en ecosistemas en línea, móviles y editoriales lo ha convertido en un experto en adquisición, mercadeo y monetización de contenido digital en plataformas a nivel mundial.

 En caso de que encuentre algún contenido objetable en nuestra plataforma, hemos implementado una política de reparación de quejas para abordar sus inquietudes.

Magzter Inc. (”Compañía” , ”nosotros” , ”nos”  o ”nuestro” ) sabe que le importa cómo se usa y comparte su información personal.Lea la siguiente política de privacidad(la ”Política” ) para obtener más información sobre nuestras prácticas de privacidad.Al visitar cualquiera de los sitios web operados por la Compañía y cualquiera de sus subdominios, o al usar cualquiera de nuestras aplicaciones móviles y otros métodos de distribución de contenido(colectivamente, el ”Servicio” ), usted reconoce que acepta las prácticas y políticas descritas.en esta Política, y usted acepta que recopilaremos, usaremos y compartiremos su información de las siguientes maneras.

Magzter Inc. es el puesto de periódicos digital multiplataforma de autoservicio más grande y de más rápido crecimiento del mundo con más de 80 millones de usuarios desde su creación en 2011 y miles de revistas y periódicos en más de 40 categorías y más de 60 idiomas. Con sede en Nueva York, Magzter tiene presencia local en Ámsterdam, Londres, Ciudad de México, Chennai, Mumbai, Nueva Delhi, Bangalore, Singapur y pronto se expandirá a otros países. Fundada por los empresarios globales, Girish Ramdas y Vijay Radhakrishnan en junio de 2011, Magzter permite a los editores de revistas y periódicos de todo el mundo crear y entregar ediciones digitales de sus títulos a los consumidores globales.

 Magzter se compromete a proporcionar una plataforma segura para nuestros usuarios. Tenga en cuenta que Magzter es simplemente una plataforma para que los editores distribuyan su contenido. No controlamos ni respaldamos el contenido publicado en nuestra plataforma. No podemos responsabilizarnos por las acciones de nuestros editores o su contenido.

Magzter no es responsable de indemnizar a ninguna parte que haya sufrido daños o incurrido en costos debido a cualquier contenido, o parte del contenido, que viole sus derechos. Magzter no es responsable de enfrentar ninguna acción legal en un tribunal civil por cualquier violación de derechos causada por cualquier contenido, o parte del contenido, que infrinja los derechos de un tercero.

Magzter ofrece el servicio de suscripción ”All- You - Can - Read”  más grande del mundo llamado Magzter GOLD, que brinda a los lectores digitales acceso ilimitado a más de 8500 revistas y periódicos por un precio de suscripción mensual.Magzter también tiene la mayor cantidad de historias en el mundo con su innovadora función ezRead 2.0 para sus aplicaciones, que permite a los usuarios de teléfonos inteligentes y dispositivos móviles de pantalla pequeña disfrutar el contenido de la revista de la manera en que debe disfrutarse, con el texto del artículo que es fácil de leer y se acompaña de impresionantes videos y fotografías de alta resolución.

Nombre

Llena este formulario si necesitas ayuda para publicar tu contenido en Magzter

 Antes de Magzter, fue presidente de Dot Com Infoway (DCI) y Galatta Media. Sus funciones incluían marketing estratégico, desarrollo de asociaciones y monetización de contenido a nivel mundial. DCI creció de un pequeño equipo de 3 en 2000 a 300 en 2011 y se ocupaba del desarrollo web, de software y de aplicaciones para clientes de todo el mundo.

Desde que iniciamos, Magzter ha estado comprometida para asociarse con organizaciones globales para brindar la mayor tecnología y servicio de puesto de revistas posible a nuestros clientes. Si estás buscando ofrecer suscripciones a revistas a tu base de datos de clientes o si solo quieres aprender más, Magzter está comprometida a ayudar al crecimiento de tu empresa. Para obtener más información, llena el siguiente cuestionario:

 La DMCA nos permite restaurar el contenido eliminado si la parte que presentó el Aviso de DMCA original no presenta una acción judicial en su contra dentro de los diez días hábiles posteriores a la recepción de la copia de su Contraaviso.

Esta Política cubre el tratamiento de la Compañía de la información de identificación personal(”Información personal”) y otra información sobre usted y su computadora o dispositivo que la Compañía recopila cuando accede al Servicio.Podemos recopilar Información personal de usted, como se explica con más detalle a continuación, y usamos esta Información personal internamente en relación con nuestros Servicios, incluso para personalizar, proporcionar y mejorar nuestros productos, servicios, contenido y publicidad, y para permitirle para configurar una cuenta y un perfil de usuario, para contactarlo, para cumplir con sus solicitudes de ciertos productos y servicios, y para analizar cómo usa los Servicios.En ciertos casos, también podemos compartir cierta información personal con terceros, pero solo como se describe en el punto 4.

Este título está incluido con su suscripción Magzter GOLD

 Para analizar la calidad del contenido y proporcionar comentarios apropiados a los editores.

 Hemos designado un oficial de quejas para abordar cualquier queja relacionada con contenido objetable.

 Solicitamos que cualquier queja relacionada con contenido objetable se envíe al Oficial de quejas por correo electrónico a la dirección de correo electrónico mencionada anteriormente. También le solicitamos que proporcione los siguientes detalles al presentar una queja

y la Aplicación que le brinda la capacidad de ordenar, suscribirse y recibir la entrega de varias revistas, libros, noticias y contenido relacionado con revistas y publicaciones (conocidos colectivamente como "Publicaciones") y recibir estas versiones digitales de las Publicaciones

C.También recopilamos información asociada con su uso de la aplicación para hacer recomendaciones personalizadas.Si nos proporciona las credenciales de su cuenta de terceros, comprende que parte del contenido o la información de esas cuentas(”Información de la cuenta de terceros”) se puede transmitir a su cuenta con nosotros si autoriza dichas transmisiones, y esa cuenta de terceros La información transmitida al Servicio está cubierta por esta Política.

 F. La información personal que recopilamos nos permite responder a sus solicitudes, mejorar nuestros productos y servicios, personalizar la publicidad y el contenido que ve y comunicarnos con usted sobre nuevos productos.

es el puesto de periódicos digital multiplataforma de autoservicio más grande y de más rápido crecimiento del mundo con más de 85 millones de usuarios desde su creación en 2011 y miles de revistas y periódicos en más de 40 categorías y más de 60 idiomas. Con sede en Nueva York, Magzter tiene presencia local en Ámsterdam, Londres, Ciudad de México, Chennai, Mumbai, Nueva Delhi, Bangalore, Singapur y pronto se expandirá a otros países. Fundada por los empresarios globales, Girish Ramdas y Vijay Radhakrishnan en junio de 2011, Magzter permite a los editores de revistas y periódicos de todo el mundo crear y entregar ediciones digitales de sus títulos a los consumidores globales.

 norte. También utilizaremos la información de uso para garantizar que los usuarios cumplan con nuestros Términos de uso. Por ejemplo, la información de uso de un usuario nos ayudará a confirmar que un usuario solo descarga una revista u otro contenido un número permitido de veces o en un número permitido de dispositivos.

 que brinda a los lectores digitales acceso ilimitado a más de 8500 revistas y periódicos por un precio de suscripción mensual. Magzter también tiene la mayor cantidad de historias en el mundo con su innovadora función ezRead 2.0 para sus aplicaciones, que permite a los usuarios de teléfonos inteligentes y dispositivos móviles de pantalla pequeña disfrutar el contenido de la revista de la manera en que debe disfrutarse, con el texto del artículo que es fácil de leer y se acompaña de impresionantes videos y fotografías de alta resolución.

BW Businessworld - April 18, 2016

BW Businessworld - April 18, 2016

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