18, Dec 2023
Kai Hocho Premium Bread Knife: A Perfect Christmas Gift
This festive season, KAI INDIA is delighted to present the ideal Christmas gift for culinary enthusiasts and home chefs – KAI Hocho Premium Bread Knife. Designed with precision and crafted for perfection, this knife is set to revolutionize your kitchen experience. With a long blade tailored for effortless slicing of cakes, bread, and pastries, this knife is a versatile addition to any kitchen.
What sets this knife apart is its super sharp Japanese-style blade, a fusion of traditional craftsmanship and modern carbon steel. This unique combination not only ensures a consistently sharp edge but also makes the blade rust-proof, enhancing its durability and resistance to wear. The ergonomic nylon resin handle adds an element of comfort to the knife, allowing for a secure grip during chopping and dicing. This knife provides both strength and balance, ensuring a safe and enjoyable cooking experience.
KAI Hocho Premium Bread Knife is the perfect Christmas gift for culinary enthusiasts and home chefs. This knife embodies a seamless blend of traditional craftsmanship and modern technology, featuring a super sharp Japanese-style blade made from high-quality carbon steel. Gift the joy of cooking this Christmas with the Kai Hocho Premium Bread Kitchen Knife, where precision meets affordability.” said Rajesh U Pandya, Managing Director, KAI India
This Christmas, gift the joy of cooking with the Kai Hocho Premium Bread Kitchen Knife from Kai India at price of INR 599. Available at https://kaiindiaonline.com and leading e-commerce platforms.
Founded in Seki in 1908, KAI group products have cult status in Japan. The brand is known for its high-quality beauty care and personal grooming products integrating practical aesthetics with refined craftsmanship providing well-designed, innovative houseware, and beauty care products that are used widely in day-to-day lives. Japan-based KAI Group made a foray into the Indian market by setting up a manufacturing facility spanning over 30,000 sq mt in Neemrana, Rajasthan. KAI brings over 800 years of Japanese legacy of forging blades, directly to Indian households with its kitchenware range. KAI Also offers high-precision beauty and personal care products to Indian consumers adding value to their daily life. They are determined to provide products prepared with detailed R&D and superior Japanese technology. With its clear vision and mission, KAI is marching forward towards becoming a household name in India.
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- By Rabindra
18, Dec 2023
TOP 5 Production Printers in India
In the fast-paced world of printing technology, businesses in India are constantly on the lookout for production printers that can seamlessly blend efficiency, quality, and innovation. Whether it’s high-volume commercial printing or on-demand tasks, the right production printer can make all the difference. Below, we delve into the top 5 production printers in India, spotlighting cutting-edge models that have earned their stripes in the industry:
● Ricoh Pro C9500: Renowned for its exceptional speed and color accuracy, the Ricoh Pro C9500 is a powerhouse in the world of production printing. With Minosha India as its prime distributor, businesses can benefit from not only cutting-edge technology but also from reliable service and prompt support.
● Konica Minolta AccurioPress C12000: The Konica Minolta AccurioPress C12000 stands out as a premier production printer, delivering exceptional quality and speed. With advanced features like high-resolution imaging, versatile media handling, and precise color reproduction, it caters to diverse printing needs. Its reliability, efficiency, and innovative technology make it a top choice for professional printing environments.
● Xerox Iridesse Press: The Xerox Iridesse Press stands as a pinnacle in production printing, offering unparalleled capabilities. Its unique ability to print metallic and iridescent hues in a single pass elevates print quality. With exceptional speed, versatility, and innovative features, it defines excellence in the realm of production printers, meeting diverse printing demands with precision.
● Canon imagePRESS VC1350: The Canon imagePRESS VC1350 sets a benchmark in production printing, combining cutting-edge technology with outstanding performance. With remarkable color accuracy, high-speed printing, and versatile media handling, it caters to diverse professional printing needs. Its reliability, intuitive features, and impressive image quality make it a standout choice in the world of production printers.
● Fuji Revoria 1120: The Fuji Revoria 1120 stands out as an exceptional production printer, boasting superior capabilities. Its advanced technology ensures precise and vibrant printing, while high-speed performance meets demanding production requirements. With a user-friendly interface and reliable operation, it establishes itself as a top choice for professional printing environments.
18, Dec 2023
Celebrating Tech Pioneers: Recap of Techlusive Summit & Awards Season 4
The Techlusive Summit & Awards Season 4, presented by IndiaDotCom Digital Private Limited, unfolded as a resounding success, seamlessly weaving together the themes of AI and Web 3.0. The summit featured a stellar panel of experts, and luminaries in their own right, engaging in thought-provoking discussions on the vast opportunities, looming threats, and generative aspects of AI and Web 3.0. Their insights, drawn from the frontlines of industry leadership, offered attendees a panoramic view of the dynamic technological landscape.
This gala was a tribute to companies and products that carved a niche in the consumer electronics domain across diverse categories. The meticulous selection process, orchestrated by a cadre of seasoned experts and analysts, culminated in the triumph of innovation. The fusion of online polling and evaluation by a distinguished jury ensured that only the most deserving took the spotlight.
As the evening unfolded, the much-anticipated panel discussion on the Advent of Artificial Intelligence took center stage. It unraveled the complexities of the current technological landscape, exploring the myriad threats and opportunities that AI presents. The discussions underscored the digital conundrum of our times, where AI not only promises predictability and productivity but also reshapes the very fabric of our daily tasks with efficiency and cost-effectiveness.
The distinguished presence of the chief guest, Dr. Jitendra Singh, Union Minister of State (Ind. Charge) Science and Technology, added an aura of eminence to the proceedings. A Diabetologist, author, and alumnus of Stanley Medical College, Dr. Singh brought a wealth of knowledge and experience to the forefront.
The awards ceremony commenced with a flourish, acknowledging the trailblazers in technology. Each award served as a symbol of triumph, recognizing outstanding contributions to innovation and excellence. The Techlusive Summit and Awards Season 4 transcended the realms of an ordinary event, emerging as a platform that not only honored technological achievements but also ignited insightful discussions on the future of AI and Web 3.0.
The night, with its unfolding chapters of innovation and expertise, stood as a testament to the relentless pursuit of excellence in the ever-evolving tech landscape.
16, Dec 2023
Strategic Digital Evolution: Google India and Primus Partners Spearhead conversation on Responsible AI and its applicability
Bengaluru, December 16, 2023: AI has become an increasingly important part of various discourses across different fields and in this context, Google, one of the largest global technology players and one of the leading innovators in the AI space, and Primus Partners, an India management consulting firm brought together 20 thought leaders from various disciplines for an interactive roundtable on “Responsible AI for Online ads” on 14 December, in Chennai. The discussion was helmed by key government representatives including Consumer Affairs Secretary Mr. Rohit Kumar Singh, and Former Law Secretary, Mr. P.K. Malhotra. The deliberation also saw the participation of lawyers and academicians including from the prestigious IIT Madras, Ashoka University, Trilegal, Samvad Partners, and Cyril Amarchand. Senior Retd. Judges, Former LEAs, Senior Advocates from Madras High Court, and representatives from Startup Tamil Nadu were also present. The diverse group of thought leaders held a detailed discussion on Responsible AI, with a focus on opportunities and challenges for India in the emergence of Artificial Intelligence and discussing possible approaches towards building the right model and unlocking India’s digital innovation.
Bringing in the government perspective, Mr. Rohit Kumar Singh, Secretary at the Ministry of Consumer Affairs spoke about the use of responsible AI from a consumption economy standpoint. He said, “We have to be agile in our approach. Self-regulation as seen in some other emerging sectors, is a way, with reasonable and responsible measures. A balance of regulation and innovation has to be a norm. Also, consumers have to be at the centre stage of the AI ecosystem.”
Vidhya Srinivasan, VP/GM at Google, was also present at the event, quoted shedding light on the current scenario, “We’ve long been using advances in Google Ads, like predictive AI, to help businesses reach consumers at the right time. What’s really exciting about new generative AI capabilities is that advertisers can use AI in a more tangible way to supplement campaign creation and idea generation, while remaining in the driver’s seat. While I’m optimistic about all this and the future, we are taking a thoughtful and responsible approach to how our ads products evolve with AI.”
Mr. Prem Kumar Malhotra, Former Law Secretary, presented his view on the discussion topic by stating, “If we look at the securities market, which is heavily regulated, many of the innovations in the space could not take flight. Something as nascent and evolving as AI, needs to have a self-regulatory start, before transitioning to a necessary regulation path. Its responsible application in sectors like online ads creates an important focus point for both consumers and tech innovators.”
Mr. Nilaya Varma, CEO and Co-founder of Primus Partners conveyed “AI has the potential to reshape the advertising industry while generating positives for the economy such as the creation of jobs, economic development, etc. The untapped potential of leveraging AI in online marketing requires to be unlocked, responsibly, which can further foster an environment for innovation and development in the country. This might initially require the regulatory authorities to create a framework, however, gradually evolving the framework with time and the needs of the industry, can help optimize the targeted outcomes. To carefully capture the potential of generative AI; Industry and the Government will be required to adopt a collaborative approach. The Indian government has been highly optimistic regarding the use of AI in processes and continues to support the digital landscape and related industries to sustain in the country. While innovation and service-providing capabilities can be captured from industries, a more industry-friendly framework focusing on sustainability will be expected from the government to foster innovation and leverage new technologies in India.”
With the growing understanding and complexity of buying patterns, AI is poised to become an integral part of the advertising segment. AI is now penetrating the said sector through various user interfaces like Google ad search engines and many more. The use of AI is intended to provide a better creative landscape for marketers to start their planning and strategy phases effectively, further moulding the generative AI response as per the needs of their campaign. The outlook of the use of AI is to provide marketers with basic auto-generated elements for their promotional campaigns with a background study of the targeted consumer’s buying behavior/pattern over a specific time.
16, Dec 2023
XECH Launches ‘Cerebro’ – India’s First All-in-One Head-Eye-Neck Massager for Enhanced Relaxation
Mumbai, 16th December, 2023 – XECH – an innovation-first consumer tech company, which is an Indian brand headquartered in Mumbai, announces the launch of ‘Cerebro’, a cutting-edge solution designed to redefine relaxation experiences.
Cerebro, the latest offering from XECH, represents a significant leap in massage technology, created to enhance relaxation and alleviate stress for everyone. It stands as the pioneer in multifunctional massagers, uniquely designed to target the eyes, neck, and head all in one revolutionary product. Engineered to transcend the limitations of traditional massagers, Cerebro symbolizes an unprecedented approach in the wellness industry, offering a comprehensive and tailored experience.
XECH Cerebro provides a personalized and immersive relaxation experience with its four carefully designed massage modes, catering to individual needs. Its adjustable sizing ensures a comfortable fit for all users, allowing a perfect match for various preferences. Additionally, it comes with a convenient USB C rechargeable battery, ensuring ease of use on-the-go, and making it accessible anywhere, anytime.
“Cerebro is a one-of-a-kind product that embodies both futuristic design and features. Designed to look like an astronaut’s helmet, the massager looks futuristic. If you’re a first-time user, it just takes a few minutes to adapt to, but it fits snuggly around the head. The product will revolutionize relaxation techniques, offering users a transformative experience that redefines stress relief. We have already witnessed a heightened enthusiasm around the product and are confident that consumers will love this elevated massage experience.” – said Pranay Punjabi, Founder at XECH.As of 2022, the global Massage Equipment market was estimated at USD 9340.7 million, and it’s anticipated to reach USD 16331.38 million in 2028, with a CAGR of 9.76% during the forecast years.
XECH Cerebro is designed for individuals seeking respite from the demands of modern life. Catering to urban professionals, students, homemakers, and technology enthusiasts, this innovative solution provides a holistic relaxation experience, that allows easy de-stressing and helps rejuvenate the mind. Whether utilized after a long day of work, during study breaks, or as a part of your wellness routine, Cerebro adapts seamlessly to diverse lifestyles by providing a quick 15-minute massage, anywhere.
XECH Cerebro is now available for purchase on the Xech website and Amazon, offering our discerning customers a seamless and convenient shopping experience.
Product Details
XECH Cerebro: XECH Cerebro represents a leap forward in the world of head and eye massage, designed to elevate your relaxation experience. Crafted with urban professionals and relaxation seekers in mind, Cerebro offers four distinct massage modes, each meticulously designed to target specific areas around the eyes and head, effectively relieving muscle tension and fatigue.
Key Features:
● Tailored Massage Modes: Cerebro provides a personalized and immersive relaxation experience with four carefully crafted massage modes, catering to your unique needs.
● Helps de-stress & relax using a combination of Air Pressure, Pleasant Warmth, Vibration, and Music.
● A see-through design that allows user to interact with their surroundings and get uninterrupted massage.
● Adjustable Sizing: Enjoy a comfortable fit with adjustable sizing, ensuring a perfect fit for every user.
● USB C Rechargeable: Powered by a USB C rechargeable battery, Cerebro ensures that relaxation is always within reach, wherever you are. One full charge delivers 6 massage cycles* (depending on the massage mode)
● Futuristic Design: Embrace a futuristic design that not only looks sleek but also complements your relaxation journey.
● Integrated Speaker: Can connect wirelessly to your phone & play relaxing music.
● Integrated microphone – That allows you to even take calls without taking the massager off
● One button operation & 15-minute massage cycle.
- Warranty – 1 Year Warranty
- MRP: 29,999/-
- Cost – Starting at INR 15,999/-
- Links: Amazon , XECH Website, Youtube
14, Dec 2023
ASICS India Brand Athlete Rohan Bopanna and Actress Gul Panag Unveil the Official Race Day Merchandise for Tata Mumbai Marathon 2024
Mumbai, India (December 14, 2023): ASICS, the Japanese sportswear brand, today launched the limited-edition merchandise for Asia’s most prestigious Tata Mumbai Marathon 2024. ASICS Brand Athlete Mr. Rohan Bopanna along with actress & avid runner Ms. Gul Panag unveiled the new collection at ASICS store on Linking Road in Mumbai.
The vibrant design of this collection by ASICS conveys a strong story of energy, persistence and passion for running. The Gel Kayano™ 30 Limited Edition shoes are designed with a unique blend of colors like Electric Blue/Aquarium for Men and White Sun Coral for Women, to appeal both male and female runners.
The specially crafted GEL-KAYANOTM 30 running shoe has Mumbai 2024 emblazoned on the side. The shoe provides maximum comfort and style reflecting Mumbai’s colorful culture. The GEL-KAYANOTM 30 shoes is equipped with advanced features like a 4D Guidance System for stability and FF BLASTTM PLUS ECO cushioning for softness, the shoes aim to energize runner’s every stride of their run.
The limited-edition race day t-shirt design shows the circular pattern that encapsulates the spirit of unity via the “Enso” motif from Japanese traditions. It is crafted in seven symbolic colours denoting various facets of life, the collection aims to bring all marathon participants together in a harmonious cooperation towards a shared goal. The t-shirt and shoe bring out the complete essence of the city of Mumbai and will connect and bond well with the runners of Tata Mumbai Marathon 2024.
Mr. Rajat Khurana, Managing Director, ASICS India and South ASIA said, “We are delighted to have Mr. Rohan Bopanna and Ms. Gul Panag onboard to reveal our official merchandise for the Tata Mumbai Marathon 2024. Inspired by the dynamic energy of this city and event, our goal is to design apparel that empower athletes at every skill level to unleash their complete potential. This collection is a testament to our dedication in fostering a commitment to help individuals achieve their athletic goals.”
Commenting on the event, ASICS Brand Athlete, Rohan Bopanna said, “I am glad to be a part of this special day being a Brand Athlete for ASICS India and unveiling the official merchandise for the Tata Mumbai Marathon 2024 is truly special. As an athlete, I believe having the innovatively designed gear that seamlessly blends style with high performance is paramount. These specially crafted GEL-KAYANOTM 30 shoe and t-shirt perfectly captures the vibrant energy of the city.”
Mr. Anil Singh, Managing Director, Procam International, said, “ASICS has been a longstanding partner of the Tata Mumbai Marathon and the Procam Family. They have continuously set new benchmarks with top-of-the-line event merchandise which are highly sought after by our participants. As we gear up for the 19th edition of the Tata Mumbai Marathon, here’s a race filled with inspiration, determination and the beating heart of India in every step #HarDilMumbai.”
The TATA Mumbai Marathon 2024, is a World Athletics Gold Label Road Race and will be hosted on Sunday, 21st January. The event will flagged off from the historic Chhatrapati Shivaji Terminal.
14, Dec 2023
Indian Consumers Lead the World in Trust in GenAI: 91% Keen to Explore GenAI-Powered Financial Applications, New FIS Study Finds
Key facts and findings
- An overwhelming majority (91%) of consumers surveyed in India said they are open to using a GenAI-powered financial application.
- Compared with other countries in FIS’ research, Indian respondents are far ahead in terms of familiarity, usage and trust in GenAI.
- 88% of respondents also trust their bank to use GenAI, significantly higher the other countries in the study.
Bengaluru, December 14, 2023 – A new study by FIS ® (NYSE: FIS), a global leader in financial services technology, reveals strong interest in generative artificial intelligence (Gen AI)-powered financial service amongst Indian consumers. The findings indicate that 91% of surveyed Indian consumers are open to using a GenAI-powered financial application if one became available in the future, citing their preference for new technology (60%) and the desire to save time (56%) as their primary motivators.
GenAI is a form of artificial intelligence designed to create new content (e.g. text, images, code) based on provided input or prompts. It has captured the world’s attention over the past 18 months with widely perceived potential to transform how we live and work.
FIS’ Trust in Generative AI research focuses on consumer trust and understanding of GenAI, as well as their attitudes towards GenAI in financial services. The research was conducted with consumers in the following cities: Mumbai, Delhi, Bangalore, Kolkata, Ahmedabad, Hyderabad, Chennai, and Pune. It found that Indian consumers have a higher level of trust towards the technology in comparison to other major markets. Only 3% of respondents in India said they do not trust GenAI at all—contrasting sharply with 33% in Australia, and 30% in both UK and U.S. Additionally, 88% of respondents said they trust their bank to use GenAI in its operations, which is significantly higher compared to other countries surveyed.
“In India’s dynamic tech ecosystem, AI stands not merely as a buzzword but emerges as a strategic imperative, reshaping the financial services landscape. Global spending on AI-centric systems is expected to surpass $300 billion in 2026, with banking being one of the two industries that will see the largest AI investments. 1 In India we are seeing a trend in major banks harnessing the power of AI to
develop responsive and intuitive user experiences,” said Harish Prasad, Head of Banking Solutions, India at FIS.“It is encouraging to see that GenAI technology is well received by Indian consumers, with a majority of consumers in the study expressing openness and trust in the adoption of GenAI in financial services. It is imperative that, as industry leaders, we remain steadfast in our commitment to use GenAI responsibly. By doing so, we can contribute to build trust in AI’s role to empower individuals and institutions alike,” added Prasad.
Additional Findings and Insights
- There is widespread awareness of GenAI in India, with 88% of respondents indicating they are familiar with the technology. 79% also said they have experience using GenAI.
- Gen Zs are driving GenAI adoption in India. 90% of Gen Zs said they have experience using GenAI-based tools, while over half (56%) of Boomers indicated the same.
- For those who have not used generally available GenAI-based tools, the main reason cited was not knowing how to use it (47%), followed by not having a need for it (39%).
- Trust in GenAI is poised to grow further, with a much larger percentage of respondents expecting to be more (80%) as opposed to less (6%) comfortable with GenAI in the next 5 years.
- 38% of respondents said they are more likely to stick with their bank if they knew their banks use GenAI in its operations, signaling strong trust and appetite for GenAI in financial services.
- In contrast, only 7% in U.S. and 4% in Australia and UK indicated the same.
14, Dec 2023
foundit Survey Unveils India’s Changing Recruitment Landscape: Tech Adoption Booms, Diversity Efforts Gain Traction
Mumbai, 14 December 2023: foundit (formerly Monster APAC & ME), India’s leading talent platform with over 7000 customers, today revealed survey findings around the changing recruitment landscape in India.
Despite the challenges posed by the pandemic and economic downturn, recruitment efforts will continue steadily. The survey revealed that technology is playing an increasingly important role in recruitment, with 56% of companies adopting a geocentric approach to hiring using technology to source and recruit candidates from anywhere in the world.
The survey also unveils a positive trajectory for diversity and inclusion in Indian hiring, with 71.5% of organizations prioritizing diversity hiring. While gender diversity takes precedence, with 78% of organizations setting goals, there’s a need for improvement in racial diversity (17%), LGBTQIA+ representation (12%), and disability inclusion (10%). In terms of recruitment methods, the survey indicates that third-party recruitment is the dominant method in India, constituting 49% of all hiring. In comparison, direct recruitment stands at 39%, and indirect methods like advertising make up 6%.
Commenting on the survey insights, Sekhar Garisa, CEO of found it, said, “The survey paints a clear picture of the evolving recruitment landscape in India. While challenges remain, the survey also reveals a positive trend towards technology adoption, with organizations increasingly relying on technology to recruit top talent, and we are excited to be at the forefront of this innovation. At foundit, we understand these challenges and are committed to providing recruiters with the tools and resources they need to succeed. Our cutting-edge technology solutions, anchored in four fundamental pillars – access to talent on and off the market, candidate profiles with Smart Insights, AI-powered Magic Search, and personalized solutions – empower recruiters with unparalleled agility and efficiency, ensuring superior hiring outcomes.”
From Sourcing to Engagement: The Multifaceted Challenges of Recruiting in 2023
In 2023, recruiters are dealing with various challenges, and the main one is finding the right candidate, as 52.30% of recruiters mentioned. This shows the ongoing difficulty in finding highly qualified individuals for job positions. Additionally, 40.23% of recruiters face the challenge of managing competing job offers, indicating that the job market is highly competitive. Another concern for 33.33% of recruiters is finding cost-effective ways to recruit, underlining the importance of using resources efficiently. While candidate engagement is not currently seen as a big challenge, there is an expected shift in focus for 2024, with concerns like insufficient workforce, time to hire, and cost of hire coming to the forefront.
Regarding sourcing candidates, 43.41% of recruiters find it challenging to handle various sourcing platforms, emphasizing the complexity of managing diverse channels. Similarly, an equivalent percentage faces issues with irrelevant search results and in identifying candidates actively seeking employment, underscoring the need for a more efficient process. Additionally, 42.31% struggle with the impact of competing offers, reflecting the intensely competitive job market. Whereas 28.02% of recruiters feel capturing candidate interest is a challenge, and 21.98% feel candidate engagement is another challenge.
In shortlisting candidates, incorrect contact information and inadequate educational and professional details are top challenges. Shortlisting across platforms, filtering by skillset, and the time-consuming nature rank as additional hurdles. While in candidate engagement, the top challenge is managing communication across multiple platforms, underscoring the need for streamlined communication channels. Another closely followed issue is the need for consistent follow-ups to generate interest ranking as the third challenge. Furthermore, the lack of personalization in outreach efforts is another concern, emphasizing the need for streamlined and personalized approaches.
Data-Driven Recruitment: Organizations Invest in Tech to Streamline Hiring
The survey underscores organisations’ widespread adoption of diverse recruitment technologies, revealing the prominence of Applicant Tracking Systems (ATS), favoured by 46% of recruiters. Complementary technologies include Candidate Sourcing Software (32%), which facilitates the identification of potential candidates across various platforms, and Interview Scheduling Tools (33.19%). The survey highlights the prevalence of additional tools, including Candidate Insight Tracking (28%), Advanced Smart Filters for Candidate Shortlisting (30%), and Candidate Assessment Tools (32%) for comprehensive candidate evaluation. Beyond these essentials, recruiters are exploring more specialized technologies such as Candidate Experience Rating/Commenting Tools (23%) to refine processes based on applicant feedback and Candidate Relation Management/Engagement Tools (11.5%) to foster meaningful connections through email and social media.
Survey Methodology:
The research aimed to comprehensively understand senior recruiters’ perspectives on hiring practices and challenges in India, utilizing a mixed-method approach with secondary research from industry reports and internal documents, along with primary research through a survey. The sample included over 400 senior recruiters globally, with approximately 300 from India representing businesses of different sizes and industries.
14, Dec 2023
Chiratae Ventures Launches the Annual Report Highlighting the Intricacies of the Consumer Tech Sector
Indian ConsumerTech Industry to reach USD 300 Bn by 2027, says Report by Chiratae Ventures, 1Lattice, and Google
- Digital public infrastructure and population scale solutions play a major role in unlocking India’s consumer potential.
- The key success factors for scaled impact in the ConsumerTech industry are product innovation, vertical integration, omnichannel strategies, and the globalisation of scaled products.
Bengaluru, 14th December 2023: The Indian ConsumerTech industry is set to rise as the total addressable market will reach ~USD 300 Bn, by 2027, growing at a CAGR of ~25%. Chiratae Ventures, in collaboration with 1Lattice and powered by Google, has unveiled “Cracking the Code: Unveiling India’s Consumer Landscape,” the first instalment of a three-part Annual Report series.
The report combines secondary research and primary surveys conducted with respondents nationwide. It delves into trends within the consumer tech industry and provides in-depth analyses of gaming, e-commerce, fintech, entertainment, and healthcare sectors.
Digital public infrastructure and population scale unlocking India’s consumer potential
The unlocking of India’s consumer potential is driven by digital public infrastructure and population-scale solutions. Over 500 million Indians now seek entertainment and gaming services on a daily basis, Over 1.2 B people in India need good healthcare, and ~1.1 Bn people have a bank account and seek to invest in financial services. ~880 Mn people in India aspire to spend on fashion and apparel, and ~220 Mn people in India aspire to spend on on-demand services. This has resulted in an increased focus on personalization, a rise in experiential retail and a growing influence of social media. Supported by an increase in disposable income, and significant digital adoption they provided additional tailwinds to solve for the above needs.
Emerging trends such as social commerce, immersive shopping experiences, and mobile gaming are reshaping the global consumer landscape, impacting regions including the US, Europe, APAC, and MENA. Not to be left behind, the Indian Consumertech sector is experiencing swift rise of over-the-top (OTT) services on the subscription side, an increasing involvement of women in gaming, commerce and social media, and a notable rise in green mobility solutions such as EV sales.
The current Total Addressable Market (TAM) of the ConsumerTech industry is valued at ~USD 100 Bn, with the dominant sectors being mobility (30% share of the market) which includes ride-hailing apps, automobile marketplace and online car rental market followed by entertainment (25%) which includes print, digital, and television media. By 2027, fashion is expected to overtake entertainment as the second leading sector with apparel and accessories, beauty and personal care, footwear, jewellery, and watches.
Sudhir Sethi, Founder and Chairman of Chiratae Ventures, on the launch of the report, shared, “Chiratae projects the Indian consumer industry to be $300 B revenue by 2027. We have till date invested ~$450 Mn into the sector. Key winners backed by Chiratae include Flipkart, Myntra, Cult.fit, Firstcry, Lenskart, GlobalBees, Policybazaar, PlaySimple, Curefoods, Fibe, Rentomojo to name a few. We believe that ConsumerTech sector is both a horizontal and a vertical play with winners at the intersections of horizontal technology disruption and vertical domains such as Health, Finance, Education, Agriculture etc. We continue to invest in companies such as Agrostar, Healthifyme, Miko, Artium, and a new breed of consumer deeptech companies such as KBCols, Aether as well. With our learnings and experience in this sector, we are proud to release our ConsumerTech sector report, the first in a 3-part series that captures deep insights.”
“Digital today is ubiquitous and its usefulness is increasing every day. With a plethora of information, services, and options now available to people at their fingertips, consumers are looking for personalized digital experiences. These consumer expectations extend to Tier 2+ consumers who have embraced technology and have an even greater openness to experimentation with new brands and products, and the willingness to spend on personalization and premiumization. The rapid evolution of AI presents an incredible opportunity for businesses to engage with their consumers in newer, more meaningful ways that deliver effective purchase outcomes whilst also responding to their need for privacy,” said Roma Datta Chobey, Managing Director – Digital First Businesses, Google India
Decoding the Indian Consumer
Growing digital adoption in India has led to increased smartphone usage, higher digital spending, and a rapidly scaling shift from offline to online.
India’s lower-income and Tier II and III cities are rapidly adopting digital technology and are aware of the various platforms/apps.
As per the survey findings, consumers, on average, dedicate over four hours daily to their smartphones. The fintech apps dominates usage, with 77% of respondents leveraging it, primarily due to robust security features and a user-friendly interface. Following closely, entertainment apps capture a significant share at 70%, with on-demand services being perceived as essential expenses in the daily lives of about 70% of consumers.
Gaming, e-commerce, and healthtech are also gaining traction among Indian digital consumers. Online and professional gaming is on the rise in India, with an increasing number of active female gamers (~60%). The growth of the e-commerce sector is seen due to the shift from offline to online channels for apparel and groceries because of the discounts and offers available. Lastly, healthtech is growing at a CAGR of ~40%, with online pharmacy being the most used platform in metro and Tier I cities.
Roma Dixit, Director, Financial Services, 1Lattice, sums up the ConsumerTech industry, “This report delves into India’s ConsumerTech trends, emphasizing five pillars: population scale, product innovation, digital infrastructure, vertical integration, and omnichannel presence. With a current market worth $100 billion and an expected surge to $300 billion by 2027 (CAGR 25%), India’s consumer tech isn’t a fleeting but a substantial force. This growth potential is underscored by the ambitions of Indian homegrown startups, driven by robust revenue growth and eyeing global expansion, fuelled by an ever-growing digital native user base.”
14, Dec 2023
NXP India, in collaboration with FabCI, IIT Hyderabad, announces Winners for Season 2 of Semiconductor Startup Incubation and Acceleration Program for Tech Startups
The impressive response to Season 2 reflects the entrepreneurial spirit propelling our nation forward where Startups thrive, and India shines as a global innovation hub,” says Mr Hitesh Garg, NXPA
This initiative considerably contributes to India’s INR 760 billion semiconductor and display manufacturing scheme, with the two entities remaining at the forefront, driving technological advancements and making India Atmanibhar a global leader in this critical sector”, said Prof B S Murty
Highlights:
- The Programme will support and mentor semiconductor and IP design startups to foster growth in the fabless chip design sector in India
- Companies selected for the core program will have access to EDA tools and MPW access worth INR 1 crore
New Delhi, December 14, 2023 — NXP India, one of the biggest R&D centres for NXP and a world leader in secure connectivity solutions for embedded applications, in collaboration with Fabless Chip Design Incubator (FabCI) at IIT Hyderabad (IITH), Startup India and Ministry of Electronics and Information Technology (MeitY), proudly announces Smartkosh Technologies, Droame LLP, FermionIC Design, Smartway Electronics and Pramatra Space Technology as the winners for the Season-2 of the Semiconductor Startup Incubation and Acceleration Program. Mokkomotto won the Special Jury Award for their innovative product solution.
The Top 5 winners will get a Cash reward of INR 1 lakhs and the Special Jury award winner will have access to program benefits. Winners will also have EDA tools and MPW access, mentoring access during the design and development phase, selective-based IP access for processor or interconnect aspects, Foundry/Packaging access, characterization lab access, and demo day visibility with NXP. Furthermore, the top 5 promising start-ups will be incubated for a period of two years in each cohort every year and will be given invaluable experience and opportunity to showcase their products to investors and the business community.
The primary objective of the program is to identify, nurture, and mentor emerging semiconductor and IP design startups across India. It also focuses on creating IP Design and SoC Design semiconductor startups, recognizing their potential to add significant value to the Semiconductor and ESDM value chain. This segment is crucial for strengthening the core technology-driven system pillar of the Atmanirbhar Bharat and Make in India vision.
“India boasts one of the world’s largest and most dynamic startup ecosystems, where innovative minds harness cutting-edge technologies to shape groundbreaking ideas, products, and services. At NXP Semiconductors, we are committed to transcend boundaries and foster disruptive innovations to boost the startup ecosystem in the semiconductor industry. The impressive response to Season 2 reflects the entrepreneurial spirit propelling our nation forward where startups thrive, and India shines as a global innovation hub,” says Mr Hitesh Garg, Vice President and India Managing Director, NXP India.
Congratulating the winners, Prof B S Murty, Director, IIT Hyderabad, said, “NXP India’s Semiconductor Startup Incubation and Acceleration Program, in partnership with IITH, celebrates the success of these future leaders of drive India’s semiconductor mission. IITH takes a leadership role in semiconductor research and resource development with India’s 1st BTech in IC Design and MTech in Integrated Circuits and Microsystems Packaging. FABCI, as a trailblazing centre of excellence, propels semiconductor manufacturing innovation.
With 117 applicants participating this year, season 2 witnessed an overall 125% growth in the applications compared to last season. This year’s surge in applications highlights the growing interest and recognition of the program’s significance in fostering hardware design and manufacturing, which is essential for Atmanirbhar Bharat. A rigorous evaluation process by NXP experts across 10 panels led to the selection of the top 10 startups, showcasing the impressive diversity and innovation prevalent in the semiconductor ecosystem.
The other finalists are:
- Biba Electronics Private Limited: Manufacturer and distributor of LCD displays and Touch Panels.
- SMPS Electric Control Private Limited: Developing Microcontrollers for Power Electronics, IoT & Telecom.
- Mokkomotto (OPC) Private Limited: Ultracompact and Highly Efficient Smart EV Chargers.
- Voltere Power Solutions Private Limited: EV Charging solutions.
- Droame LLP: Building highly efficient drones that consume 54% less battery power, with increased flight time and range.
- FermionIC Design Pvt Ltd: Fabless semiconductor in PMIC, Mixed Signal, and RF IC.
- Smartway Electronics Private Limited: Pulse Oximeter integrated with IR Thermometer.
- Bendra Aerospace Private Limited: Leading Space & Defence electronics manufacturing company.
- Smartkosh Technologies Private Limited: Next Generation Battery Management System.
- Pramatra Space Technology Private Limited: Generate and Distribute Ultra Secure Quantum Encryption Keys.
