02 JULY 2022 BW BUSINESSWORLD

www.businessworld.in SUBSCRIBER’S COPY NOT FOR RESALE I RNI NO. 39847/81 I 02 JULY 2022

The Big Bet

Diverse forces representing different

sectors are moving in unison to push India’s

Atmarnirbharta agenda AKHILESH REDDY
Director, MEIL &
Chairman, RPPL

ASHISH T. KOSHY,
BHUTANI, CEO, CEO, ONDC
Bhutani Group

SCHAUNA
CHAUHAN, CEO,
Parle Agro

ASHISH
BHUTANI,
the BHUTANI
group CEO

Rs 150



www.businessworld.in RNI NO. 39847/81 I 02 JULY 2022

COLLABORATION
KEY TO ATTAIN
ATMANIRBHARTA

For Parle Agro’s
CEO Schauna
Chauhan, ‘making
in India’ and a self-
reliant Bharat are
achievable only by
collaborating with
others



www.businessworld.in RNI NO. 39847/81 I 02 JULY 2022

AKHILESH VIJAY
REDDY, DEVERAKONDA ,
Actor &
Director, MEIL & Film Producer
Chairman, RPPL

INDIA’S
RISE AS A
SPORTS
MARKET

Credited with bringing the F3 and F4
races along with India’s first street
circuit, Reddy is committed to taking
Indian sports beyond cricket

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www.businessworld.in RNI NO. 39847/81 I 02 JULY 2022

ASHISH
BHUTANI,
CEO, Bhutani

Group

By making the end-
consumer the key focus
area, Bhutani and others

are signalling the
start of a new phase in

India’s real estate

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www.businessworld.in RNI NO. 39847/81 I 02 JULY 2022

ONDC under
Koshy is

unbundling
digital

commerce and
making online

transactions
interoperable

THE UPI OF
ECOMMERCE

T. KOSHY,
CEO, ONDC





EDITOR-IN-CHIEF’S NOTE

THEY DEFINE ATMANIRBHAR BHARAT

ANNURAG BATRA “Try not to become a man of success. Rather become a man of value.”

 [email protected] — Albert Einstein

IT WAS AN ABSOLUTE pleasure to meet some of India’s outstanding
leaders and learn of their vision and mission. These were men and women
of grit who remained unfazed through the turbulence in the marketplace
and continued to make in India, thereby making India’s economy stronger
and more vibrant. Among them were Parle Agro CEO Schauna Chauhan,
who takes pride in the fact that the beverage major does not just create
business partnerships, but entrepreneurs, be they farmers growing
mangoes for Frooti, or packaging makers. Young Ashish Bhutani has led
the Bhutani Group through the pall in the real estate sector and delivered
all its projects on time. In this issue he talks of the group’s philosophy and
plans of expanding into luxury living.

We meet the Open Network for Digital Commerce (ONDC) CEO, T.
Koshy, who now leads the Indian government’s efforts to democratise
ecommerce by taking small businesses and unorganised retailers online.
Koshy says the ONDC aims to revamp the digital commerce space and
increase India’s ecommerce penetration to 25 per cent. Buying and selling
online will no longer be the monopolised preserve of the big guns in the
industry. We also bring to you expert views on both the marvels and pitfalls
of this digital journey. In his column, former BSE Chairman and chartered
accountant S. Ravi, talks of the wonders of Web 3.0 and why India needs
decentralised finance. Our editorial consultant Srinath Sridharan
broaches that sticky issue of digital inclusiveness, without which a broad
segment of India could remain deprived of the Digital India revolution.

We then take you to the world of motor sporting. Akhilesh Reddy,
Director MEIL and Chairman, RPPL (Racing Promotions), is opening
up opportunities for aspiring Indian racing drivers by bringing F3 and
F4 racing to India. It is heartening to see that with this venture, RPPL
will create a clear pathway for Indians to move up in the world of racing
internationally. Karting and sim racing in India will lead to the F4 Indian
championship, followed by the Formula Regional Indian Championship,
which will act as a stepping stone for FIA-sanctioned international racing.

These are the men and women, engaged in sectors as diverse as motor
sporting, realty, the beverage market, ecommerce and the digital economy,
whose concerted efforts are fructifying India’s mission of an Atmanirbhar
Bharat. I am sure you will enjoy reading about them, just as much as we did
in engaging with them. They define the future of our country. Of course,
we also bring to you all our regular columns and features that you look
forward to. Happy reading!

12 | BW BUSINESSWORLD | 02 July 2022

#BWFOD2022

4th Edition

SUMMIT & AWARDS 2022





















































MARKETING AND ADVERTISING

STANDPOINT ously redefined. The aim

of any organisation has

been to increase aware-

MARKETING B2B ness as much as possible,
PRODUCTS TO which is why being om-
nipresent is imperative
while crafting an effec-

tive content strategy.

Tech, social media

END-USERS Brands are now exploring
innovative and intelligent
tools such as ML (ma-

The B2B marketing landscape is intricate and challenging chine learning) and AI
(artificial intelligence) to

considering the typical buyer persona targeted and marketers gather user data, analyse
must be agile and quick in meeting this audience user behaviour and tap
into the right consum-

By Kirti Kabra ers for their respective

products or services.

A S marketing tech- time. B2B marketing is users with smart B2B Smart technologies like
nology continues basically the process of marketing. AI and ML help enhance
to evolve, B2B selling to another busi- consumer experiences,
giving brands the ability

marketers also constantly ness. B2C marketing has Content to ensure personalised

upgrade themselves to always been targeted to a The importance of marketing to all.

remain updated with larger general audience, content in marketing In today’s world, social

their consumers while however B2B products cannot be overstated. It is media is the fastest mode

also identifying the right and services are aimed at vital for brands to make of communication and

target audience to engage an audience with a par- the most of the creative helps brands connect

with. There is a dire need ticular need. For this, the content machinery while with their target audi-

for marketers to refine marketer must not only making it accessible to all ence and boost brand loy-

their strategies regularly understand the product the masses. It is impera- alty amongst them. The

so that they are able to or service being sold but tive that the brand’s con- digital media strategy if

sustain a competitive he/ she needs to be able tent is carefully crafted, implied correctly creates

edge in the ecosystem to communicate the promoted, strategically a ripple effect. If these

while growing their coherent message that distributed and continu- tools are leveraged ef-

audience base. For this accompanies the seller’s

purpose, marketers focus organisation. It is imperative that the
on conducting in-depth The B2B marketing

market research which landscape is intricate and brand’s content is carefully
allows them to build the challenging considering

most effective strategy. the typical buyer persona crafted, promoted,
However, B2B market- targeted and marketers strategically distributed and
must be agile and quick
ers, in particular, do not in meeting this audience. continuously redefined
have the added leverage Considering the same,
which allows them to here are a few tips to keep
execute comprehensive

market research at any in mind, to keep engaged

and every given point in with the consumers or

40 | BW BUSINESSWORLD | 02 July 2022

ficiently, brands can very According to a report by Omnichannel
well increase sales and HubSpot, 81 per cent of
retain their customers for marketers feel that video has a Omnichannel marketing
a longer period. direct positive impact on sales is purely an integration of
the various channels that
Service are used to interact with
consumers with the aim
After-sales service is of creating a good brand
an important aspect experience for users. As
for brands to keep in the world of marketing
mind while building continues to evolve, it gets
trust as this follows with more challenging to meet
a loyal customer base the changing customer
that eventually loves the expectations.
brand. This strategy has a
direct impact on driv- Adopting an om-
ing customers to future nichannel marketing
growth. Modern technol- approach helps keep
ogy today plays a pivotal up with the changing
role in driving after-sales scenarios by ensuring
service for brands, be it constant communication
responding to customers with the consumers.
in real-time, focusing on
customer satisfaction, Measurement
retention marketing and
many more. To be able to be a success-
ful B2B marketer, the
Video marketing need to consistently mea-
sure and improve your
In recent years, various campaigns and efforts is
surveys have shown the a must. This is an ongoing
rising consumption of process.
video content by users.
According to a report Consistent measure-
by HubSpot, 81 per cent ment allows marketers
of marketers feel that to understand and relate
video has a direct positive to the customers better.
impact on sales. Addi- Being vigilant is the key.
tionally, video producers Consulting analytics and
and brand marketers applying learnings in
have highlighted that subsequent efforts cre-
virtual events work like ates a roadmap towards
a goldmine for them as creating a successful
the video content can be customer experience.
repurposed and reused
on different avenues Today, as B2B market-
whenever required. The ing continues to evolve
visual presentation of year after year, imple-
anything surely gives a menting such approaches
better recall and is well and strategies provides
explained than a simple favourable results for the
text format. brands.

The author is Director at
RR Global

41 | BW BUSINESSWORLD | 02 July 2022

IN DEPTH INDIANPREMIERLEAGUE

INSIDE IPL’S
BLOCKBUSTER
MEDIA RIGHTS

AUCTION

It was no less than a nail-biting THE IPL’S BLOCKBUSTER media rights auction
three-day cricket match with millions was sold for Rs 48,390.5 crore for the next five
years, making the league among the wealthi-
waiting to see the final results. The est in the world of sports.
IPL Media Rights e-auction was the On an overall basis, the Board of Control
top trend and top news across media for Cricket in India (BCCI) will now earn ap-
platforms. Finally, as expected, the proximately Rs 118.0 crore per live IPL match. IPL has be-
world’s richest cricket league just got come second to the NFL, and ahead of the hugely popular
football/soccer leagues of Europe and the likes of NBA, MLB,
a lot richer By Ruhail Amin etc., in terms of the live per match earnings from broadcast-
ing rights.

42 | BW BUSINESSWORLD | 02 July 2022 Photos Courtesy: BCCI

MEDIA RIGHTS n TV ( Indian n DIGITAL (Indian n TV + Digital (Rest of The
HOLDERS: Subcontinent)- Subcontinent)& Digital World)--Times Internet
IPL 2023-27 DISNEY STAR Special Bouquet (India) (MENA, US), VIACOM 18
-VIACOM 18 (AUS-NZ, SA, UK)

NITA AMBANI, Director, Reliance Industries Ltd.

“Sports entertain us, inspire us and bring us together. Cricket
and IPL personify the best of sport and the best of India,
which is why we are proud to be deepening our association
with this great game and this wonderful league. Just like with
everything we do, our mission is to take the joyful experience
of IPL to cricket fans wherever they are - in every part of our
country and around the world”

Understanding the Numbers Game (2018-22) of Rs 16,347.5 crore.
If we look at the previous cycle, it comprised 60 matches
Disney Star retained the TV rights in the subcontinent
for Rs 23,575 crore, while Viacom 18 secured the digital per season for five years. For the new five-year cycle, the
rights in the same region and media rights (both TV and IPL has listed a varying number of matches per season
digital) across three global regions – Australia + New Zea- ranging from 74 games each in 2023 and ‘24, 84 matches
land, the UK and South Africa for Rs 23,758 crore. Media each in 2025 and ‘26, and a maximum of 94 matches for
rights for two other global regions – the Middle East (Rs the final year of the deal in 2027.
205 crore) and the USA (Rs 258 crore), was bagged by
Times Internet. For IPL teams, media rights are the bread and but-
ter as they account for 69-75 per cent of revenue. Other
The overall deal for the 2023-27 cycle is 2.96 times sources of revenue include sponsorship deals and several
or 196 per cent higher than the previous IPL rights deal tournament-linked incomes.

Photograph by Subhabrata Das 43 | BW BUSINESSWORLD | 02 July 2022

IN DEPTH INDIANPREMIERLEAGUE

BREAKDOWN- JAY SHAH, Honorary Secretary, BCCI
IPL MEDIA RIGHTS
2023-27 “I express my gratitude to the
market forces for believing in
n TV Rights for Indian Sub-continent: the brand and showing their
faith and confidence in BCCI
Rs 23,575 crore to take IPL to newer heights. I
n Digital Rights for Indian Sub- am sure, together, we will keep
adding value to brand IPL and
continent: Rs 20, 500 crore make it the biggest sporting
n Digital Rights, Special Bouquet league in the world”

(India Only): Rs 3,257.5 crore
n TV/Digital Rights (Rest of the

World): Rs 1,058 crore

Going by BCCI’s earlier statement on revenue sharing Rise of Digital Valuation
from the broadcasting rights, franchises have a right to It was the digital pack that drove the rights this
40 per cent of the revenues, with the rest staying with time around. In this rights cycle, digital rights
the Board. have exceeded the value of TV and have been the
biggest driver of growth in the value of the IPL
Each IPL team is likely to earn almost Rs 400 crore a rights. The highest bid for the TV rights in the
year solely from the media rights, a 137.5 per cent jump subcontinent was 17.3 per cent higher than the
from Rs 163 crore a year. Further, the teams finishing per-match base price of Rs 49 crore. The corre-
among the top four in every edition will get another 10 sponding number for digital rights in the region
per cent share of the media rights sales. saw a massive jump of 51.5 per cent higher than
the per-match base price of Rs 33 crore. It is im-
Players will also stand to gain from the additional rev- portant to note that this time, advertisers will have an option
enue inflow to teams. Auction purse will increase in the of advertising on either or both the platforms. According to
future and the players will earn more. experts, this can be Voot’s (Viacom’s OTT platform) hot-star
moment. Just like how IPL 2017 rights changed the dynamics
“IPL’s growth story and its phenomenal rise in the for Hotstar, this can change the fortune for Voot. Experts are
sporting world is a result of people’s immense faith and already saying that Disney+Hotsar could lose 15 mn to 25 mn
belief in the BCCI leadership and its workforce to keep subscribers on losing the IPL Digital Rights.
on delivering under all adversities. I am sure with the Speaking about the recently concluded IPL Media Rights,
constant support of everyone in the eco-system we will be BCCI Honorary Secretary, Jay Shah said, “I express my grat-
able to take brand IPL to new heights on the global sports itude to the market forces for believing in the brand and
stage”, said BCCI President, Sourav Ganguly. showing their faith and confidence in BCCI to take IPL to
newer heights. I am sure, together, we will keep adding value
to brand IPL and make it the biggest sporting league in the
world in terms of revenue, participation and performance.”
“The whole idea is to balance cricket and commercial inter-
ests as BCCI is committed to developing sports in the country
through cricket. The money we generate through media
rights will ultimately benefit grassroots cricket in India and
that is what ultimately matters”, he added.

44 | BW BUSINESSWORLD | 02 July 2022 Photo Courtesy: BCCI



IN CONVERSATION

“OUR PRIMARY
TASK IS TO
SIMPLIFY REAL
ESTATE”

AsitgearstoscaleupitsIndiaDevelopmentCentre(IDC)locatedinHyderabad,
Robert Reffkin, Founder and CEO of Compass, talks about why real estate, among
thelastlegacybusinessesyettobedigitised,isalreadyusheringinanewerainthis
conversation with BW Businessworld’s Noor Fathima Warsia. Excerpts:

Robert this was your first visit to India after setting up estate brokerage firm in the United States. We have a team
the IDC. How was the experience? of over 30,000 people in over 400 cities.
The last time I was in India was 20 years ago when I was
travelling the world with my mother. The energy here Your US footprint is indeed very large. Which brings
with the Compass team is very special. It reminds me of us back to why you chose Hyderabad for this digital
our early days when we were building a strong culture centre?
where people wanted to make an impact and collaborate Joseph (Sirosh, CTO, Compass), has been a great leader
to create something bigger. They were dreaming big and for us. In the early conversation, it became clear there was
building the future together. I feel the same in India now. a unique opportunity in India. Software engineers from
Our team here comprises more than 240 people and it was India have played a major role in revolutionising almost
very energising seeing them in action. every major industry and real estate will be no exception.
Real estate is the largest segment of the global economy.
Let’s take a step back here. You were sitting on a plum The value of realty in the world is four times the value
job at Goldman Sachs when you decided to launch of every stock. It is now time for it to be transformed by
Compass in October 2012. What were you thinking software.
then?
My mom, a single mother, was a real estate agent for a We need to realise our vision of replacing the overly
long time. For years, I saw her struggle because she did not complex, antiquated, paper-driven process with a seam-
have the tools she needed to succeed. I felt like she, and less all-digital platform that gives real estate buyers and
people like her, deserved more and we created a company sellers a wonderful experience. We need to attract some of
that could allow agents to realise their entrepreneurial the best software engineers in the world and India is a cor-
potential. nerstone of that strategy. If you look at some of the major
technology companies in the world, they all have a pres-
We launched Compass with less than 10 people and ence here. We are the number one real estate brokerage
now, less than a decade later, we are the number one real firm and so we need to have a major presence here as well.

46 | BW BUSINESSWORLD | 02 July 2022

“We need to at-
tract some of the

best software
engineers in the
world and India
is a cornerstone
of that strategy. If
you look at some
of the major tech-
nology compa-
nies in the world,
they all have a
presence here”

It is not that there have been no attempts at digitising local customisation is critical.
real estate but they seem to fall short. What was your We were simplifying real estate agents’ work by inte-
approach to creating your product?
There is a reason why there is a graveyard of technology grating all the different platforms that they had been us-
companies that have tried to transform real estate. They ing. We rebuild every part of their digital workflow into
all underestimate how complex it is. Technology can re- one platform so they get true integration and that becomes
place a transaction but not the process. Selling a home the innovation. Without building everything in one place,
is a complex, multi-stakeholder process. At every stage, we cannot get a mobile app that allows them to access their
we need to create digital advantages and collaborations workflow on the go, which for real estate, is more than 60
between these stakeholders so they can accomplish more. per cent of their time. We are now bringing simplification
That is a highly fragmented industry and it is a herculean to the mobile app as well.
process to build a true end-to-end engine platform.
India has a large section of real estate agents and also
What were some of your early challenges? entrepreneurs. Any advice you have for them?
Early on, we wanted to redefine the role of an agent and The best advice for any entrepreneur is to dream big. That
start hiring them as employees to change the process. But is the starting point to capturing potential. We have to
we realised that instead of trying to change their role, we recognise the need to collaborate without ego. This is a
should empower them. If we can make them more suc- very important value for us at Compass.
cessful, we would be more successful. In the US, there are
1.4 million real estate agents who generate about $100 Every entrepreneurship has one point in common,
billion in commissions every year. They are the largest which is that you will fail. If you did not, you have not
industry of entrepreneurs and also the most underserved pushed yourself hard enough. Hence, you also should be
customer base. We learned from them the tools we needed great at bouncing back with passion. When you do that,
to build. We also learned that it is very local. Therefore, you create a new dream and use that energy to move again.
Turning negative into positive is probably the most con-
sistent quality every entrepreneur must have.

47 | BW BUSINESSWORLD | 02 July 2022

HOW TO CREATE VALUE Gautam Mahajan

Air M Y FIRST TRIP with Indian Airlines was
India, around 1954 in a Dakota DC3, and with Air
Whither India in 1968, on the much-heralded Boe-
Goest ing 707.
Thou and Since then, I have been an Air India fan
Tata? and a loyal customer. Not to say I did not have
some bad experiences, but many more were
The author is President, Customer Value good. For instance, there was the time we were held up in Paris
Foundation and Founder Editor, Journal of for a day to change engines and Air India took wonderful care
of us (got us wonderful rooms, transportation, meals, had good
Creating Value updates on the plane departure) or the time the stewardess sat
with my wife who was traveling alone because our small child
would not stop crying. Or the time Indian Airlines staff took
care of passengers stranded in Mumbai because of the rains on
26 July 2005. I wrote about this, and the article appeared in 26
newspapers. I wrote to the Managing Director, suggesting he
congratulate the staff, but got no reply!

A great airline
I would defend Air India to my friends as being a great airline
even though they would cite poor experiences. Till now. My
flight AI173, Delhi to San Francisco, nonstop, in May 2022 on
Business Class changed all this.

48 | BW BUSINESSWORLD | 02 July 2022

The booking process Now, as the make a note of this issue and let the powers that be know. I knew
It began with the booking process. The Tatas take she would not (because this is typical, the frontline staff and
Air India website would show all busi- over Air India, their supervisors are not trained to escalate systemic problems),
ness class flights to San Francisco were I have several and so I asked for the supervisor. No response! Just ignored the
full or not available. Why? I called some- suggestions request. At check-in, I requested a change of seats and was told
one in AI reservations whom I knew, and keeping the flight was full.
she said the website was not fully okay customer value
and advised me to get to a travel agent in mind. I would As she was handing me the boarding cards, she suddenly
who had access to different websites. defend Air India stated seat 14A was non operative and she would get me two
Through a travel agent, I bought a busi- to my friends seats together. Since she had earlier said it was a full flight, I
ness class ticket. He had to go to the Air as being a great asked how? She said we would get a window and an aisle and
India office twice to assign seats because airline even not two of the three middle seats, which was fine by me. But
the system was down. though they all this would happen at the boarding gate, she said. Another
would cite poor woman came and said she promised this and that she would be
But this was the beginning of my prob- experiences. Till at the gate. She said her name was Aruna and she was in charge.
lems. At the airport, when I checked in, I now. My flight A promise but no change in the boarding card.
was asked for information I had filled in AI173, Delhi to
during my online check-in. (By the way San Francisco, Non-functional seats
the mobile check-in was more complex. changed all this When we got to the gate, there were two people there on the
It wanted me to upload my passport etc. check-in. The young man was busy with a customer. The oldish
Why?). That was a waste of my time and woman was sitting and ignored us. She finally got up and was
now also a waste of time for the ground leaving and I asked, “Do you work here?” She said “Yes”, and tried
staff. to brush me off by saying boarding will start soon.

I asked the airline representative to I asked if she was too senior to take care of me. Then I told her

Photograph by Boarding2Now 49 | BW BUSINESSWORLD | 02 July 2022

HOW TO CREATE VALUE Gautam Mahajan

The ground staff did not tell us that 8 D which was next to our newly assigned seats,
was non operative and therefore that seat was empty. They then requested an elderly

Sardar and his wife to switch with us and gave us 8G and H. Which was fine, except
that 8E broke down when the Sardarji was lying on it and was not able to get out of the

seat that was now in a prone position for sleeping

my issue, and she checked and we had 8E prone position for sleeping.
and 8F, middle seats and an aisle. I asked He needed a number of crew members to help him off the
for a window and an aisle, but the young
man said seven or eight seats were non- seat… So much for the maintenance. As my son who calls Air
functional. Can you imagine eight seats India ‘Air Village’ said, if the flight is so poorly maintained, how
at Rs 2 lakhs each or Rs 43 crores over a can they manage and maintain systems?
year if the plane flew 300 days! Not to
worry, the plane will get re-furbished The staff did not notice
soon, said the older woman. Also, my TV screen and the remote were not working – so much
for on board entertainment!
The ground staff did not tell us that
8D which was next to our newly assigned During breakfast and lunch my food tray would open at an
seats, was non operative and therefore angle, and never straighten.
that seat was empty. They then requested
an elderly Sardar and his wife to switch Before all this, my wife and I had gone to the AI lounge, and
with us and gave us 8G and H. Which was all the food staff were not wearing masks, and I asked them to,
fine, except that 8E broke down when the but they ignored me. The ground staff should have noticed this
Sardarji was lying on it and was not able but they did not. The air conditioning was not working. Why
to get out of the seat that was now in a did the staff not notice? Or do they not care or do they accept all
this? Is this a ‘chalta hai’ attitude?

The staff on the plane were excellent.

50 | BW BUSINESSWORLD | 02 July 2022 Photograph by Vectorlab