Just three states account for more than half of India’s investment plans.
Citing government data, Times of India reports that Karnataka tops the table with investment proposals worth ₹83,236 crore in January-September, nearly 25% of the country’s
total tally of ₹3.38 lakh crore. That’s despite a 45% decline in the first eight months of the year, a weakness the industry department attributes to elections in the state.Gujarat (₹59,089 crore) and Maharashtra (₹46,428 crore) are next on the list. Earlier,an index by think tank NCAER ranked Delhi as the state with the highest investment potential.
Foodpanda is doling out mega discounts to take on competitors Zomato and Swiggy.
The Ola-owned food delivery app, Business Standard reports, is offering discounts to the tune of 70% and refunds to win customers. Most of these price cuts are being borne by Foodpanda itself, a cash burn-based strategy not many find sustainable. “By offering food at
a third of the price, you’ll only be able to get deal-hunters. That’s not how brand loyalty is
created…” a Delhi-based restaurant chain owner told the daily. Last month, Foodpanda
acquired Mumbai-based cloud kitchen firm Holachef for an undisclosed amount.
Will Foodpandas discount strategy help it wrest market share from bigger players like Zomato and Swiggy? Share in the comments below.
Amazon’s Prime Video is cheaper in India than anywhere else in the world,
Quartz reports, citing a study by tech review firm Comparitech. Subscription to the service starts at just $1.76 per month here, less than a seventh of what is costs in the US. Besides, India’s cost per title (total library size by monthly subscription cost) at $0.00058 is the third-lowest among 28 countries, higher only than the US and the UK’s. Earlier, a survey by research firm Pixight showed nearly four in 10 respondents preferred Amazon Prime over Netflix because of its cheaper subscription rates.
Also: Netflix doesn’t plan to offer cheaper plans in India, its CEO Reed Hastings
told Reuters, adding that previous comments by its product head Greg Peters had been
“misunderstood”. Netflix currently offers three plans in India, at prices largely comparable to
those in the US.
Jet Airways’ board is meeting today to consider fund-raising options for the cash-strapped airline.
Business Standard reports (paywall) the meeting could discuss the sale of a 49.9% stake in the airline’s loyalty programme, but investors would need more assurances because the programme is valuable only if the airline continues to fly. Jet has delayed salaries, grounded planes and sought a $150 million loan from co-owner Etihad to tide over a financialcrunch. The Tatas have evinced interest, but Business Standard quotes a source as
saying that chairman Naresh Goyal wasn't keen to dilute his 51% holding.
The Centre has approved name changes for 25 towns and villages in the last one year, PTI reports. While the home ministry is yet to receive proposals to rename Allahabad as Prayagraj and Faizabad as Ayodhya, some of the approved name changes are Rajahmundry to Rajamahendravaram, Outer Wheeler to APJ Abdul Kalam Island, and Arikkod to Areekode. The trend seems to be catching on: Gujarat may rechristen Ahmedabad and the Shiv Sena wants new names for Aurangabad and Osmanabad. Experts argue that rebranding cities results in significant economic costs in the form of signages, paperwork, and intangibles such as re-educating outsiders.
Idea of the Day: Failing at anything hurts, but sometimes leaders need to know when
to give up, says Shake Shack founder and Union Square Hospitality Group CEO Danny Meyer.
“We [entrepreneurs] are equally responsible for balancing hope and reality, and for
knowing when no degree of optimism is going to overcome the underlying challenges.”
What's your take on today’s stories? Share your thoughts in the comments.