Microsoft Future Ready Industry Week, Manufacturing Edition Highlights The Need To Unlock Innovation For Future Ready Industries

* Digital innovation to drive significant advances in operational efficiency, customer experience for a more resilient and sustainable future

Microsoft’s Future Ready Industry week, Manufacturing edition witnessed a confluence of diverse perspectives as industry leaders from leading conglomerates like L&T, Ashok Leyland, Vedanta, Adani Group, Asian Paints and Aditya Birla Group and others shared insights on themes ranging from creation of resilient supply chains, operating safe and agile factories as well as unlocking innovation and new services. The event builds on the Future Ready flagship series through CXO keynotes and dialogues with Microsoft’s focus on empowering people and organizations to prepare for growth in the next decade.

In terms of business priorities for the manufacturing industry, identifying new revenue streams along with digital offerings is at the forefront and highlights the changing scheme of strategies which are increasingly customer centric, and data driven. Strategies also rely on a seamless ecosystem collaboration and partnership. Industry research also reveals that 40% of Asian manufacturers will adopt an API led integration strategy to link applications on a single platform to improve agility and visibility across organizations by 2023. The above estimates substantiate the importance of application and data sharing with their ecosystem, which results in increased operational productivity. (Source: IDC*)

Speaking on the occasion, Sashi Sreedharan Managing Director, Microsoft India said, “Microsoft aims to fulfill its mission of empowering every person and organization on the planet to achieve more, by helping customers and partners manufacture a more resilient and sustainable future. We are fueling the manufacturing industry’s digital transformation with technology and digital capabilities to unlock new efficiencies and future-proof business.” He further added, “Given the accelerated penetration of Industry 4.0 across the Indian manufacturing landscape, Microsoft is uniquely positioned to support our customers in their growth journey by connecting the intelligent, integrated cloud, and edge capabilities of the Microsoft platforms to deliver the highest value.”

S.N Subrahmanyam, Chief Executive officer & Managing Director Larsen &Toubro in a fireside chat session with Anant Maheswari, President Microsoft India spoke about how the industry giant has been at the forefront of digital innovation and transformation. He said, “One of the decisions that we took was to be a very high-end technology solutions provider where we could utilize technologies like IoT, Industry 4.0, AI, ML and various other tools and applications as well as platforms to envisage how we could get accurate data, to be objective about decision making. This data has helped us benchmark ourselves against the best in the world while analyzing the outcome of all this digital activity. He further added “Microsoft has played a very important role and much of IoT and Microsoft Azure is being used extensively at L&T project sites.”

Talking about a roadmap for a digitally ready Future enterprise, Sampath Kumar Venkataswamy, Senior Research Manager, Manufacturing insights, IDC Asia in the session, “The Future of Make in India” stressed the importance of process transformation in enhancing the digital readiness of Indian manufacturers. He stated, “Organizations need to assess their baselines, and if needed, re-engineer their business and operational processes. While investing in technologies that enable data visibility across their value chain. Training their workforce in terms of skilling and re-skilling is imperative for them to be agile.”

Sharing his views on the impact of technology in facilitating a more sustainable future, Vineet Jaiswal- Deputy CEO, Vedanta said, "It is always better to move to cloud because you are reducing the carbon footprint rather than having your own data center. Moreover, what we are ensuring is that whatever we do from a supply chain perspective, we have the entire end-to-end visibility. This shortens the turnaround time which in turn reduces emissions.”

Speaking about the disruptive potential of technology impacting the commercial vehicle industry in India, Dr N Saravanan, President, and Chief Technology officer of Ashok Leyland, in the session “Front Office Transformation” said, “We are moving away from selling a product to selling a service with data being a key component to enhance the customer experience We can use the data to enhance the customer experience as the data itself is much more critical in commercial vehicle segment since the category is driven by TCO. Collaboration with ecosystem partners is also important and Microsoft can be a key enabler for companies to operate in the ecosystem seamlessly by supporting their end-to-end requirements from cloud computing to data security.”

Reiterating the significance of data, Venkatesh Natarajan, President and CDO Ashok Leyland spoke about using data very extensively both for direct monetization and for indirect monetization, providing huge amount of value to customers. Looking ahead, as the industry transitions from a product centric to a solution centric kind of an organization, he spoke about how connective vehicle data, AI, analytics is going to play a very dominant role.

Sharing their insights into various approaches in building the factories of the future, Manish Gupta, Group CIO, Aditya Birla Group highlighted the evolution of technologies and stressed that the future will be personalization at scale through smart factories. Earlier, factories were very fixated in terms of what products they are going to supply, but with changing demand factories can now rely on additive manufacturing or 3D printing to rapidly respond.

Taking about smart factories, Aashish Kshetry, VP IT and HR at Asian Paints commented, “The interface of man and machine will never go away. Automation systems will have mechanisms to monitor safety protocols and reduce wastage by providing insights through sensors, measurement mechanisms and the ability to sift through large volumes of data. This could be something as simple as energy consumption. Safety and sustainability would be top priorities that any smart factory can really enhance from an overall perspective."

InMobi And Anzu Announce Preferred Programmatic In-Game Ad Partnership For Asia-Pacific Region

* "Collaboration Provides Advertisers Working with InMobi First-look Access to Anzu's Premium Mobile Programmatic In-game Inventory in Asia-Pacific Region and allows Publishers globally to integrate with the In-Game Solution."

InMobi, a leading provider of content, monetization, and marketing technologies that help businesses fuel growth, today announced a partnership with Anzu.io, the world’s most advanced in-game advertising solution. The move means InMobi can now provide its advertisers with direct access to Anzu’s premium mobile programmatic inventory across the globe, in addition to first-look access to in-game mobile supply in Asia-Pacific (APAC) region.

Anzu’s award-winning in-game advertising solution allows programmatic advertisers to run their banner and video ads via blended yet highly viewable IAB-compliant ad formats that sit on 3D objects like roadside billboards, stadium banners, and buildings. The ads are designed to complement the gameplay, respecting gamers, and in many cases, making the gameplay experience more realistic.  

Anzu’s technology is integrated with a full suite of third-party trusted vendors, including HUMAN for fraud detection, Comscore, Lumen, Nielsen for brand lift measurement, and Kochava for data enrichment. Anzu and Moat have also just enabled the first-to-market viewability measurement for in-game ads meaning InMobi’s advertisers can now request in-view metrics when programmatically running in-game ads. 

“I’m excited that this partnership with InMobi will help many more APAC advertisers experience the huge opportunity that in-game advertising presents, '' says Itamar Benedy, Co-Founder and CEO, Anzu. “InMobi’s expertise and vast advertiser network, combined with their knowledge of the APAC landscape, will help supercharge our solution within this market. There are more gamers in APAC than anywhere else in the world, and our solution will help brands to reach them in a non-disruptive, brand-safe way that compliments the gaming experience.” 

InMobi’s direct connections with top demand-side platforms across the globe, combined with direct supply to Anzu’s global inventory, enable advertisers to access these ad experiences through optimized supply paths. Access to Anzu’s inventory will help InMobi offer scale across a huge number of mobile games spanning multiple genres, allowing advertisers to reach engaged players within immersive environments. 

“The biggest advantage of the preferred partnership across Asia-Pacific between InMobi and Anzu is that allows our clients can now seamlessly connect with gamers through blended, non-disruptive ads,” says Vasuta Agarwal, Managing Director, Asia Pacific, at InMobi. “With new features and the goal to drive connections between consumers and brands with Anzu’s premium technology, this partnership will benefit all parties including advertisers and publishers.”

In addition, game developers partnering with InMobi will be able to take advantage of all the benefits that using Anzu’s SDK presents, which is already used by leading game developers including Ubisoft, MyGames, and Sir Studios, to monetize their titles with in-game ads that open up new reliable revenue streams, complement the gameplay, and work alongside other monetization models and solutions. Additionally, InMobi will help gaming publishers tap into global premium demand and seamlessly expand into in-game ad monetization to generate incremental revenue through both standard formats and in-game ads through a single platform.  

Ms. Ly, Commercialization Manager for Amanotes, one of South East Asia’s most popular mobile publishers, said: “We have two main goals, to continually improve the user experience and grow our business. Ensuring we keep an equal balance between both can be challenging. Anzu allows us to accomplish both these goals simultaneously. Their in-game ad placements put gamers first and bring a sense of realism to our experiences while allowing us to establish a consistent and reliable revenue stream to help grow our business. The ads also work great alongside the other monetization methods we have in place.”

In India, gaming app consumption has doubled year over year, signaling notable shifts in normalizing and embracing gaming with everyday life. The mobile-first region holds a strong preference for smartphone gaming—with on-the-go convenience and entertainment – leading to a population of 400 million mobile gamers and expected to grow to 650 million by 2025. Given how metaverse developments are on the rise in the region along with its flourishing communities, gaming provides a clear, accessible gateway to the metaverse for marketers to effectively reach their audiences.

About?Anzu  

Anzu is the world’s most advanced in-game advertising solution. Operating across mobile, PC, and console platforms, Anzu blends real-world brand ads directly into video games, esports tournaments, and live streams. The only solution of its kind to bring real-time analytics and existing digital industry standards in-game, Anzu’s patented, adaptive technology features blended, yet highly viewable IAB-compliant ad formats. Anzu’s full suite of one-of-a-kind AdTech integrations includes ad viewability, brand lift measurement, audience verification, data enrichment, and fraud detection in partnership with industry leaders such as Moat, Comscore, Kantar, and Nielsen. Anzu has raised $17 million to date from investors including WPP, Sony Innovation Fund, BITKRAFT Ventures, and HBSE Ventures. Global partners include advertisers such as Pepsi and Samsung and game studios such as Ubisoft and Amanotes. Learn more at https://www.anzu.io/. 

About InMobi

InMobi is a leading provider of marketing and monetization technologies reaching more than a billion consumers around the globe. With deep expertise and unique reach in mobile, it is the trusted and transparent technology partner for marketers, content creators, and businesses of all kinds. InMobi’s mission is to power its customers’ growth by helping them engage their audiences and build meaningful connections. Its affiliated businesses – Glance, the world’s leading lock screen-based content discovery platform and video-platform Roposo – help InMobi create new content and commerce experiences in a world of connected devices. Headquartered in Signapore, InMobi maintains a large presence in San Francisco, Bangalore, New York, Chicago, Kansas City, Delhi, Mumbai, Beijing, Shanghai, Jakarta, Singapore, Metro Manila, Kuala Lumpur, Sydney, Melbourne, Seoul, Tokyo, London, and Dubai. To learn more, visit https://www.inmobi.com/.

FADA Releases March’22 And FY’22 Vehicle Retail Data

Brief Analysis for March’22

On YoY basis, total vehicle retail for the month of March’22 decreases by -3% and       -30% when compared to March’20 (the month when all India lockdown was announced). 

On YoY basis, 3W and CV were up by 27% and 15%. 2W, PV and Tractors fell by -4%,   -5% and -8% respectively.

Bharat is clearly not showing any sign of recovery as both 2W and Tractors continue to sell less. 

Despite demand from PV remaining strong, supply crunch due to various global phenomenon (Russia – Ukraine war and China lockdown) restricts customers from purchasing their favourite vehicle.

CVs continue to record double digit growth when compared to last year even though the ride to pre-covid levels is still an uphill task.

Brief Analysis for FY’22

For full FY’22, total vehicle retail increased by 7% YoY but fell by -25% when compared to FY’20 which was largely a pre-covid year.

Except Tractors, which fell by -1%, all other categories like 2W, 3W, PV and CV grew by 4%, 50%, 14% and 45% YoY respectively.

The year was no different when compared to the month of March as Tractors and 2W (with low single digit growth) which largely represent Bharat underperformed thus giving signals of stress which continues to prevail in that specific market.

Already snarled by supply bottlenecks, persistent high inflation and tightening financial conditions, the global economy is being dragged to the edge of a cliff.

The recent challenges in the rural economy, however, are due to the devastation caused by the second wave in April-June. Workers who returned to their villages from urban areas are yet to go back to their jobs.

PV segment for the entire year saw high demand with low supplies due to the semi-conductor shortage.

3W segment is witnessing a shrinking market. A tactical shift from ICE to EV is also visible as 45% 3W market is now driven by EVs.

International crude prices crossed US$ 100 mark for the first time since 2014. This resulted in petrol / diesel prices skyrocket thus negatively impacting consumer confidence.

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for March’22 and Financial Year 21-22.

March’22 Retails

Commenting on how March’22 performed, FADA President, Mr. Vinkesh Gulati said, “Indian Auto Industry during March tried its best to be at par YoY but fell short by - 3% and -30% when compared to March’20 (a month which saw BS4 to BS6 transition).

The 2W segment which was already a non-performer due to rural distress, saw further dampening due to rise in vehicle ownership cost coupled with rising fuel cost. I once again urge all 2W OEMs to introduce special schemes to uplift the morale of this segment to boost sales.

The 3W segment was witnessing a shrinkage in market size due to permit issues, educational institutions being closed and work from home phenomenon. With India now completely opening up, the segment is seeing strong double digit growth when compared to YoY. EVs are now contributing 45% + market share in this segment. There is also good demand for load vehicles from captive customers.

PV’s continues to see high demand and long waiting period as semi-conductor availability still remains a challenge even though supplies slightly improved from previous month. The Russia-Ukraine war and China lockdown will further dent supplies and hence press brakes on vehicle availability thus making waiting period more frustrating for customers.

CV’s continues to inch forward even though full recovery from FY’20 perspective is still away. Sentiment for the segment remain positive as Government’s infra push coupled with replacement demand is driving sales.”

Financial Year 21-22 Retails

Commenting on how FY’22 performed, FADA President, Mr. Vinkesh Gulati said, “FY 2022 was the first year of recovery after Covid hit us in 2020-21. The FY didn’t begin on a good note as with the beginning of April, , 2nd wave of Covid hit us hard. This time, the spread was not only limited to urban markets but had also taken rural India in its grasp. Unlike last year, the lockdown this time around had been imposed by State Governments and not the Central. Many states continued to remain under lockdown even in May and for over 60 days thus impacting lives, economy and auto sales.

Despite total chaos especially in Bharat, India Auto Retails saw a 7% rise YoY. All segments except Tractors closed in positive. While 2W saw the lowest growth (due to rural phenomenon), 3W, PV and CV all saw double digit growths.

The Government’s vaccination drive saved India from the 3rd wave which saw negligible impact in terms of either lives or auto retails on an overall basis. Overall full recovery is yet to be seen as Auto Retails are down by -25% when compared to FY20 which was largely a pre-covid year and a year of BS-4 to BS-6 transition.”

Near Term Outlook

With impact of covid lockdown during last two April’s (FY20 and FY21), April’22 will see growth, though on low base. This however when compared to a pre-covid year will still be in deep red.

The near term outlook for Indian Auto Industry continues to remain a challenge as the on-going Russia Ukraine war and China lockdown does not hint towards a smooth path. Crude is on a boil and hence fuel prices have been raised by around Rs 10. This will continue to rise and further hit sentiments on lowering the spending. Along with this, increase in raw material costs have made OEMs increase the prices of their vehicles. While no dent in terms of demand has been seen in PV segment, it will definitely have its impact on 2W segment which is an extremely price sensitive market.

On the other hand, with Gudi Padwa, marriage season and re-opening of educational institutions & offices, we will see some pent up demand coming in especially in the 2W segment.

Precious metals and neon gas which comes from the war hit zone will further slow the supply of semi-conductors thus making waiting periods longer for PVs.

Overall, FADA remains extremely cautious in terms of any recovery in sight until Russia Ukraine war and China lockdown comes to an end.

Long Term Outlook

RBI in its recent note has said that the age of abundant liquidity is drawing to a close. Already snarled by supply bottlenecks, persistent high inflation and tightening financial conditions, the global economy is being dragged to the edge of the wall. The longer- term implications are disruptions to global supply chains if physical infrastructure such as pipelines and ports are destroyed.

For India, the recent reverberations of war have, in fact, tilted the balance of risks downwards. The Government’s thrust on capital expenditure in 2022-23 can, however, be the gamechanger this time around by enhancing productive capacity, crowding in private investment and strengthening aggregate demand amidst the conducive financial conditions engendered by the RBI, and improving business and consumer confidence.

Overall, a lot depends on how the Russia Ukraine war unfolds. Also, for India to come out of the woods faster than other economics, we anticipate that there will be no further impact of covid with vaccination being the shield.

Overall, we anticipate that Auto Industry may come out of the woods and reach pre-pandemic highs by FY2024.

Students Of VMSIIHE Can Now Intern In Portugal's Martinhal Family Hotels

Goa based leading hospitality management institute, V. M. Salgaocar Institute of International Hospitality Education (VMSIIHE), has partnered with Portugal based hospitality brand - Martinhal Family Hotels and Resorts - to provide internship opportunities to students of the institute. 

With four luxurious properties, two each in Algarve and Lisbon, the institute has signed a two year agreement with the group.  

Said Prof Irfan Mirza, Director/Principal, VMSIIHE, "The internship is a crucial phase of the curriculum of the three-year degree programs BSc International Hospitality Management and B.Sc. Culinary Arts offered at VMSIIHE. This partnership will allow students to obtain practical experience, network with professionals in the field and gain on the job training in Portugal. It also aligns with the institute's goal of being a centre of excellence for the hospitality industry in India and will prepare students for the ever-changing needs of the industry." 

Once accepted the students will be provided with accommodation, meals, laundry facilities, and on-the-job training along with a stipend.  

The Institute has the unique privilege of having an existing collaboration with Turismo de Portugal, the Portuguese government's official tourism agency. The collaboration is the result of a Memorandum of Understanding signed between the two countries. 

VMSIIHE offers students opportunities to do their professional internships at reputed starred hotels in India and abroad in some of the leading hotels across countries.  

With a string of long-standing associations with international and domestic hospitality majors to its credit, VMSIIHE has recently also introduced a three-year full-time B.Sc. Culinary Arts Program. The B.Sc. Program offers strong skilled-based modules and management experience with all the elements of Food Production, Food Beverage, and Service operations.  

Funskool Acquires Exclusive Rights To Manufacture And Market Goliath Games Sequence In India

* Funskool India become the official partner of Goliath Games to manufacture and distribute ‘Sequence’ across the country

Funskool India Ltd., India’s leading toy manufacturer, adds another blockbuster to their list, by acquiring the rights from international brand Goliath to manufacture and distribute their popular board game ‘Sequence’, in India. 

Developed by Doug Reuter in 1981, Sequence is a combination of a board game and a card game. Often referred to as the ‘Perfect Family Game’, Sequence can be played by 2 to 12 players. The game aims at building strategy, planning, sportsman spirit and team play along with providing quality entertainment. 

Taking inspiration from the ‘Make in India’ initiative, Funskool India has been expanding their base and challenging themselves to widen their association with international counterparts. The new rules on mandatory certification from the Bureau of Indian Standards for import of toys, makes Funskool India a perfect partner for international toy manufacturers to entrust their iconic games to be manufactured in BIS certified Funskool factories. 

Commenting on the occasion, R Jeswant, CEO – Funskool India Ltd., said, “Funskool India always wants to bring the best of toys and games to its customers, and this association with Goliath is another step towards it. We have always been a frontrunner in developing a catalogue of varied toys and games through extensive focus on innovation and development. We believe that this partnership will have a significant role in providing a unique synergy of strengths to build the brands further.” 

Jorge Aguila-Collantes , General Manager ROW- Goliath Group said,       

“We are glad to have begun our cooperation with Funskool on the Indian Market, we really believe this step will allow Sequence Brand to grow and become one of the top board game brands in the Indian Market, like it is in many markets in the world” 

About Funskool India Limited: 

Funskool is India’s leading toy manufacturing company promoted by the MRF group. Funskool started its commercial operations in the year 1987 and has state of the art manufacturing facilities at Goa and Ranipet. Funskool has been pioneering the concept of quality and safe toys in India and raised the standards of toys in the Indian Market. The company’s mission is to influence the parents to spend on toys that enable every Indian child to grow with quality toys that contributes to their mental development. With the largest range of toys offered by any Indian company, Funskool, has an assortment to meet the needs of every parent and child. 

Nokia C01 Plus 2+32GB Variant Launched In India To Further Strengthen Presence In The Entry-Level Android Smartphone Segment

·         Love it: Wallet-friendly 4G with a long-lasting battery

·         Trust it: Two-year security promise as a safety net

·         Keep it: Unmatched durability to keep looking fresh for years

HMD Global, the home of Nokia phones, has launched the Nokia C01 plus which now comes with 32 GB storage, an exciting addition to the popular and most affordable Nokia C-series smartphones. Now customers in India will enjoy the new Nokia C01 Plus - a feature-packed entry-level smartphone, offering the best of everything in -the budget smartphone segment.

The Nokia C01 Plus is a phone you can trust that is targeted at those who want to upgrade from feature phones or older/slower smartphones for a best-in-class experience. Hence, the new Nokia C01 plus upholds the promise of a 1 year replacement guarantee. Also, with the JioExclusive offer, consumers would be able to get INR 600 instant price support making the phone even more affordable.

Sanmeet Singh Kochhar, Vice President, HMD Global: 

“Over the past couple of years, we have built a robust portfolio of Nokia smartphones to provide a wide array of choices to the consumers. The popular Nokia C-series has been our answer to the rising demand for low-budget -smartphone - with uncompromising quality, durability and of course   the Trust of Nokia Devices. Nokia C01  plus (2+16GB Variant)has been very well received by our users when it was launched last year  . With this new 32GB storage variant, we are further offering more choice to the consumers with this exciting new launch.

Beautiful moments with loved ones

Family life is all about magical moments. Video calling your closest ones feels even more real thanks to the clarity an HD+ screen brings. Having flash on both sides will ensure you never miss those special moments day or night. Cosying up with the kids to watch a film will be a treat on wider viewing angles. With HDR imaging, the Nokia C01 Plus will ensure your memories are as beautiful as the moment itself.

Trust the Finnish standards

From build quality to security levels, the European standards flow throughout. From twisting and bending, to heat, force and drop tests, the Nokia C01 Plus can meet the demands of everyday life. It also has a sturdy polycarbonate body with an inner metal alloy chassis.

When it comes to threats from the cyber world, the Nokia C01 Plus will work harder than most phones at this price range to keep your data safe. Regular security updates will come through for at least two years, whilst face unlock will make sure those cherished memories are well guarded.

Speed where it matters

Octa-core processor means that you get a phone that keeps up with the busiest of lifestyles – the days of lag and load are over. Android 11 (Go edition) brings you an increase in speed, which makes overall usage a breeze. With 4G LTE, you can say goodbye to video buffering and hello to a snappy everyday experience. The Nokia C01 Plus will also see you through your entire daily routine thanks to all-day battery life.

Pricing and availability

The Nokia C01 Plus is available in India starting today in Blue and Grey colour variants, with 2/16GB and 2/32 GB, configurations starting at Rs. 6299 & Rs. 6799 respectively, across leading offline retail stores, e-commerce platforms, and Nokia.com.

Customers who choose to avail the JioExclusive offer will get an instant price support of Rs. 600 on the best buy price, and will have to pay Rs. 5699 & Rs. 6199 respectively

Customers can avail the offer at participating Retail stores or through the MyJio app. In case of self-enrolment via MyJio app, they can opt for the JioExclusive offer within 15 days of activating the device and the Price Support benefits would be passed directly to customer’s bank account via UPI within 30 minutes of successful enrolment.

Additional Benefits for all Jio Subscribers:

Jio subscribers doing recharge of INR 299 and above would also be eligible for benefits worth INR 4000 across Myntra, PharmEasy, Oyo & MakeMyTrip.

Buy Now Pay Later Transactions Surge Over 250% Across Karnataka in 2021, ZestMoney Findings Reveal

·         Bangalore topped the list of cities lapping up Buy Now Pay Later in the state

·         Smartphones/electronics, lifestyle and fashion, Edtech and travel drove the demand in the state

·         Women customers surged by 2.5X YOY and men by 2x in 2021 in Karnataka

ZestMoney, India's largest and fastest-growing Buy Now, Pay Later (BNPL) platform, revealed that the Karnataka region emerged as the top state last year in BNPL usage, outnumbering all the other states in India in terms of new customer sign-ups and transactions. On the back of solid demand, the platform noted that it saw a 2.5X increase in transactions, while the customer base of millennials and GenZ surged by 2X and 3X YOY respectively in Karnataka.

Most of the new customers on the platform were from the 24-27 years age group, demonstrating that young cohorts are driving the BNPL growth in the region. Bengaluru, Mysore, Belgaum, Kalaburagi and Kolar were the top five BNPL cities, while smartphones/electronics, lifestyle and fashion, Edtech, travel and home decor emerged as the top categories, ZestMoney noted. 

BNPL, a short-term credit financing option that lets customers conveniently split bills at zero (or low) cost, has grown to become a preferred mode of payment, not just in tier-I cities, but also tier-II, II and beyond in Karnataka, the platform findings revealed. ZestMoney has serviced demand from 99.7% of pin codes in the state, the company added.

Interestingly, ZestMoney’s findings also showed that Bengaluru women transacted more than their men counterparts compared to the other top BNPL cities. Data suggests that women used BNPL to upgrade their tech and electronics while also indulging in some fashion and lifestyle retail therapy. Men, on the other hand, went all out to spruce up their wardrobes and spent heavily on fashion, besides spending on electronics. Overall, the company said it observed a 2.5X YOY growth in women customers and 2X in men last year with customers taking to the flexibility, transparency and ease of pay-later options in a big way. 

Commenting on the findings, Lizzie Chapman, CEO & Co-Founder of ZestMoney, said, “It is not surprising that Karnataka, which is in the forefront of writing India’s tech and innovation story, has emerged as the top BNPL state in the country. With the digital way of life becoming the new normal globally, a large number of customers are choosing the ease, convenience, transparency, and cost-effectiveness of short-term credit tools such as BNPL over other formal credit means. In line with the global trend, millennials and Gen Z especially in India are seeing BNPL as a go-to credit-based payment option as it offers perfect flexibility to spread out costs and plan their finances better. Categories such as smartphones, Edtech, travel, fashion and lifestyle continue to top the BNPL purchases and see phenomenal growth, driving both numbers of customers and transactions higher on our platform. Our most popular ‘Pay in 3’ zero-cost offering is a huge hit, making us the leader in the category with 70% share in the online ‘Pay in 3’ market. We see tremendous headroom for the category to grow in India.” 

Chapman further added, “We are also seeing an increased demand for BNPL at offline stores. Customers from India’s tech capital Bengaluru, who were earlier used to traditional EMI checkout network cards, are choosing digital products for ease and convenience. Keeping in mind the growing needs and varied use-cases in a heterogeneous market like India, we continue to work towards offering innovative products by combining the simplicity of digital payments with the benefits of pay-later offerings. We are also doubling down on further strengthening our offline store footprint, adding to our already-wide network of 75,000+ stores across the country. While Karnataka is already riding the BNPL wave, we, as the largest omnichannel player in the country, are confident that the proliferation of BNPL as a credit-based payment category will continue to grow exponentially in India in the coming years.”

Bengaluru topped the list in the number of BNPL transactions across all categories. Cities that followed Bengaluru in top BNPL cities/towns include Mysore, Mangalore, Madikeri, Kolar and Kalaburagi in smartphone/electronics, Mysore and Kalaburagi in the travel category, Mysore in fitness, Ramanagar, Raichur and Kolar in electric vehicles, Dharwad, Mandya and Kolar in home decor, Tumkur, Belgaum and Bellary in fashion and lifestyle, and Mysore, Mangalore and Belgaum in Edtech categories.

ZestMoney is the largest omnichannel Buy Now, Pay Later platform with 15 Mn registered users across the country. It has the largest network of merchants with 10,000+ online partners including the biggest e-commerce platforms like Amazon, Flipkart, Myntra, MakeMyTrip, Nykaa among others. It is also present at 75,000+ store partners including brands like Apple, Reliance Digital, Croma, Sangeetha Mobiles, Pai International, Pai Mobiles, and Poorvika Mobiles across the country.

About ZestMoney:

ZestMoney is India’s largest and fastest-growing Buy Now, Pay Later platform in India.  

ZestMoney is deeply integrated with the largest merchants in India including Amazon, Flipkart, Myntra, MakeMyTrip and Nykaa increasing the affordability of their products and helping them facilitate frictionless sales at a higher conversion rate to a larger base of customers. We also have the largest network of merchants with 10,000+ online partners, 75,000 physical stores, making the company a market leader in the space.  ZestMoney has built a platform that integrates mobile technology, digital banking, and artificial intelligence, enabling people to apply for and get a digital credit line within seconds. 

ZestMoney’s innovative technology and work to make affordable digital finance accessible led to their selection as a 2020 Technology Pioneer by the World Economic Forum. It was also recognized as the second fastest-growing technology company by Deloitte India in 2021. 

For more information, visit: www.zestmoney.in