Swiggy
SBI Mutual Fund’s stake in Swiggy crosses 5% as asset manager picks up shares worth Rs 300 crore
SBI Mutual Fund bought the shares at around Rs 253-254 apiece on September 29, taking its holding in Swiggy from 4.7% to 5.1%.
Instamart says one in 10 baskets contains Noice products, announces expansion
“At Instamart, we're building a differentiated, high-quality assortment that consumers can trust and brands can grow with. Noice is key to this ambition, giving India's food entrepreneurs the platform, standards, and capital to scale,” said Instamart CEO Nandita Sinha.
Prosus in talks to invest Rs 150 crore in Swiggy Instamart challenger BazaarNow
BazaarNow, founded by former Zepto executives Priyanshu Jain, Arjun Harish and Tarithmay Mandal, sells groceries and daily essentials, focusing on local products and regional brands in Tier 2 and 3 cities. It raised Rs 72 crore from Peak XV Partners and others in June. Instamart also serves smaller markets through its 131-city network.
Reliance's JioStar bets India’s sports fans will do more than just watch the game
JioStar is betting that India’s next phase of sports viewing will combine live matches with AI, commerce, regional languages and interactive features. With Indian-language viewing accounting for 90% of watch time and integrations such as Swiggy driving transactions, the broadcaster is looking beyond eyeballs to turn its growing sports audience into a broader digital commerce opportunity.
Bengaluru techie once used to hide from friends, as he didn’t want to be seen as a food delivery boy. Today, he is owner of two seafood startups
On Instagram, Koushik Kharvi’s incredible journey from being a food delivery agent to becoming a successful entrepreneur went viral. The engineering graduate said that he once hid his job from his friends, as he did not want to be seen as a delivery boy.
UPI volumes slip; Moneyview makes strong market debut
UPI transaction volumes in September moderated from the record high of August. This and more in today’s ETtech Top 5.
FSSAI initiates action against Amazon, Swiggy Instamart, BigBasket, Flipkart India over alleged violations
FSSAI said action had been initiated against Amazon, Flipkart India, Swiggy Instamart, Zepto and BigBasket over allegedly misleading claims related to Happilo Premium Date Bites - Zesty Orange. Separately, Swiggy Instamart and BigBasket face action over alleged misleading claims and non-compliant product information involving three Milky Mist products - Fresh Low Fat Cream, Farm Fresh Curd and Greek Yoghurt.
26-year-old corporate employee in Bengaluru shares her September expenses: ₹25K rent, ₹12K food orders and more
A 26-year-old professional based in Bengaluru shared her spending habits for September, revealing her total expenses reached ₹63,000. She paid ₹25,000 for rent and maintenance, spent ₹12,000 on food, and budgeted ₹6,000 for digital subscriptions. Her shopping and personal care costs added another ₹7,000, while transportation accounted for ₹7,000.
Karnataka gig workers seek implementation of welfare schemes
In a letter to the board’s chief executive officer, Indian Federation of App-based Transport Workers (IFAT) and Karnataka App-based Workers Union (KAWU) sought immediate rollout of health and accident insurance, income support during medical emergencies and temporary disablement, maternity benefits, scholarships for children of platform workers and an emergency distress fund.
From Swiggy delivery agent to restaurant owner: Bengaluru entrepreneur shares his journey
Koushik Kharvi worked for nine years as a delivery agent before starting his own seafood business. His experience included hiding his job from friends due to stigma associated with delivery work. After reflecting on his past, Kharvi now runs a food truck offering Mangalorean seafood in Bengaluru. Social media users responded positively to his journey, emphasizing the dignity of all work.
Union minister Piyush Goyal to headline ET Startup Awards on October 9 in Bengaluru
Goyal has been leading trade negotiations with key partners, including the US, after sealing high-profile deals with the UK, which came into force in July, and the EU, which is expected to take effect early next year. His ministry is also overhauling a raft of laws and regulations to make it easier to do business and to cement India's position as a global manufacturing hub, a push that has coincided with record foreign direct investment (FDI) inflows of $94.53 billion in FY26.
Listed startups unlock Rs 25,000 crore for VC, PE investors
An ET analysis of National Stock Exchange (NSE) and BSE block and bulk deal disclosures across 18 new-age companies shows sales by investors including Japan’s SoftBank group and venture capital firms Peak XV Partners, Elevation Capital and Accel.
ET Exclusive: Flipkart’s former suites write to Walmart board, seek fair treatment and full cash out of vested ESOPs
A group of former senior Flipkart executives has urged Walmart to buy back their vested stock options. This request comes after the company's plans for an initial public offering have been postponed again. Recent leadership changes at Flipkart have highlighted ongoing tensions between former executives and current management. The signatories argue that those who contributed to Flipkart's success deserve liquidity opportunities.
DMart plunges 6.7% as Citi, Goldman retain sell call
Avenue Supermarts' shares fell by 6.7% on Monday amid worries about its competitive landscape and valuation concerns. Citi and Goldman Sachs upheld their sell recommendations following the company's recent second-quarter update. While the standalone revenue growth of 18.4% shows promise, analysts believe that the company's expansion may be hindered by escalating competition from quick-commerce services.
Anthropic's Claude can now process AI requests locally in India through Amazon Bedrock
Anthropic has launched its Claude AI models in India for local processing through Amazon Bedrock. This development addresses data residency concerns for banks, government institutions, and large enterprises. Companies, including TCS and Kotak Bank, expressed support and enthusiasm for local AI inference.
Former Elevation Capital partner Mayank Khanduja joins Silicon Valley VC Bessemer in India
Khanduja, who left Elevation Capital in January, will focus on early-stage investments at Bessemer, working with founders from their first institutional funding round, the firm said.
Telangana suspends licences of Swiggy Instamart, Flipkart, Zepto dark stores over food safety violations
Telangana's food safety authorities inspected 16 dark stores across the city and found serious hygiene violations. Four establishments had their licenses suspended for acute health hazards identified during the inspections. Violations included expired food products, pest infestations, and improper storage practices. The authorities emphasized the importance of maintaining food safety standards amidst the rise of quick-commerce.
IPO-bound Razorpay partners with OpenAI to help Indian brands advertise on ChatGPT
Under the partnership, Razorpay Engage, the company's customer engagement and marketing platform, will help brands prepare product catalogues, structure feeds, launch campaigns and track their performance on ChatGPT Ads.
JioStar to deepen ChatGPT integration as AI reshapes sports viewing
JioStar launched a deep product integration with ChatGPT during the IPL that went beyond conventional search. Viewers could ask questions about players and matches in natural language while watching the game and receive contextual information without interrupting their viewing experience.
Razorpay cofounder Shashank Kumar explains how ChatGPT ads will work in India
Razorpay has teamed up with OpenAI to introduce advertising on ChatGPT for Indian enterprises. This collaboration features well-known brands such as Tanishq, Tata Neu, and Axis Max Life among the initial participants. The ads will be displayed directly beneath the ChatGPT responses, clearly marked as advertisements. Users can conveniently click these ads, redirecting them to shopping pages without affecting the responses generated by ChatGPT.
IT fresher hiring rebounds; Agrani's Rs 800 crore raise
Happy Friday! After nearly two years of subdued fresher intake, hiring is picking up across the technology and IT industry. This and more in today’s ETtech Morning Dispatch.
Quick-commerce sector shows signs of pricing discipline as discounting moderates: Jefferies
The quick-commerce scene in India is shifting its pricing strategies, with companies dialing down discounts and enhancing delivery minimums. Services like Amazon Now and Zepto have notably raised the minimum spend for cashback incentives. Jefferies' report reveals personal care as the leading category for discounts, though average reductions fluctuate by segment. Despite a minor decrease in app downloads, user engagement shows resilience across the board.
FSSAI initiates penal action against Amazon, Zepto, BigBasket, others
FSSAI has taken action against major e-commerce platforms for various food safety violations and misbranding. The platforms include Amazon, Swiggy Instamart, BigBasket, Flipkart India, and Zepto. Regulatory non-compliance has prompted increased scrutiny of food products sold online in recent months. Consumers are being informed about enforcement measures through social media by the food regulator. FSSAI aims to ensure the safety of food products available to consumers across online channels.
Swiggy's Instamart extends Yulu, Yuma ties to ramp up EV deliveries
Instamart is expanding its battery-swapping stations network to encourage electric vehicle use in last-mile delivery. The improvements are part of partnerships with Yulu and Yuma Energy to facilitate affordable access and reduce downtime. Recently, the first station was opened in Bengaluru, enhancing efficiency for delivery partners. Instamart is offering rental cashback incentives for using Yulu electric two-wheelers to lower costs.
Ownly launches in Hyderabad, bets on lower-cost food delivery model
Rapido’s food delivery venture Ownly, which launhed in Hyderabad, is targeting profitability despite an average order value of around Rs 250, nearly half the Rs 400-420 seen at listed rivals Swiggy and Zomato. Co-founder Aravind Sanka said delivery accounts for 85-90% of industry costs, while Ownly is leveraging Rapido’s existing technology, teams and logistics network to keep costs lower.
Ahead of Market: 10 things that will decide stock market action on Monday
Sensex and Nifty extended losses for a fourth session as heavy FII selling, surging bond yields and elevated crude prices rattled investors. The selloff erased Rs 5 lakh crore in market value, while analysts advised long-term investors to accumulate gradually.
Helios Flexi Cap Fund trims exposure in HDFC Bank, RIL, 2 more stocks; hikes stake in Swiggy, Paytm and 26 others
Helios Flexi Cap Fund reshuffled its portfolio in August, cutting exposure to HDFC Bank, Reliance Industries and other holdings while adding to Swiggy, Paytm and several other stocks. The fund also exited five stocks and added two new names. Its portfolio stood at 68 stocks across 26 sectors during the month.
SC refuses UPI MDR stay; Nvidia unveils tools for rogue AI
The Supreme Court has refused to stay MDR on select UPI transactions and sought Centre’s response. This and more in today’s ETtech Top 5.
Festive hiring boosts diversity as women, PwDs gain wider job opportunities
In this festive hiring season, companies are championing diversity by expanding job opportunities, particularly for women and individuals with disabilities. This progressive shift in recruitment strategies highlights a commitment to inclusivity while catering to seasonal needs. Additionally, employers are prioritizing accessible job functions and safer environments, leading to a notable enhancement in India's temporary job market landscape.
FSSAI plans to ban use of 'paneer' tag on non-dairy items
Products already licensed or registered under the 'analogue in dairy context' category will have to stop using 'paneer' in their product name, labelling or marketing, according to the draft regulation notified in the Gazette of India. The move would effectively reserve the term paneer for products meeting the dairy definition, preventing businesses selling non-dairy analogues from presenting or marketing them as paneer.
FSSAI proposes ban on sale, manufacture of ‘analogue paneer’
FSSAI has proposed banning the manufacture and sale of analogue paneer to protect consumers from misleading claims. The draft regulations are aimed at restricting the use of non-dairy products labeled as paneer. States have already taken measures against analogue paneer, and existing products must remove the paneer designation. Stakeholders are given 60 days to voice objections or suggestions regarding the new amendments.
Meesho shares can fall 28%, warns Nomura after initiating coverage with Reduce call. Here is why
Shares of Meesho dropped up to 5% to Rs 221 after Nomura initiated coverage with a Reduce rating and a Rs 167 target price, citing a 28% downside risk. The brokerage highlighted valuation concerns, rising competition from quick commerce, and margin headwinds despite liking Meesho's asset-light model.
‘No offer letter until you work’: Woman shares sister’s Kolkata interview experience, claims offer letter came with a condition
A LinkedIn post about an interview experience in Kolkata has triggered discussion over recruitment practices after a woman said her sister was asked to join an established company on the same day she completed multiple interview rounds. She also claimed the candidate was told she would receive an offer letter only after working for a day. The post later drew questions over the company’s identity.
Amazon to bet $3 billion on India's fast-delivery boom, sources say
Amazon has announced plans to invest $3 billion in its quick commerce business in India by 2030. This investment aims to expand its network of small neighborhood warehouses to improve delivery efficiency. Amazon is focusing on daily essentials rather than one-off purchases in this sector. Current competitors have established loyalty among customers, making competition more challenging for Amazon.
New indicator for New India: 25 stocks whose numbers can reveal what is in store for the economy and the stock market
For decades, there was a familiar way to understand the Indian consumer. Economists waited for GDP, industrial production, inflation, credit growth and other official numbers, and then used them to work out whether households were spending more or pulling back. Those indicators still matter. But the Indian consumer has changed faster than the dashboard used to track consumption and spending patterns. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
IRDAI proposal hits insurance stocks; FSSAI vs ecomm giants
The insurance regulator has proposed new limits on commissions as part of a wider overhaul. This and more in today’s ETtech Top 5.
How fast can China's EVs charge? Inside the race to 5-minute top-ups
Chinese electric vehicle manufacturers, including Geely and BYD, are advancing ultra-fast charging technologies to enhance consumer confidence. These innovations aim to provide charging times comparable to traditional gasoline refueling, which is currently being pursued aggressively. To manage safety concerns and prevent battery degradation, companies are implementing advanced cooling systems and AI technologies. As competition heats up, infrastructure developments for fast charging stations are also gaining momentum.
Gig workers turn to tax filing as TDS refunds offer cash, financial records
Gig platforms are integrating tax filing assistance into their apps. Many delivery partners receive tax refunds after deductions at source. This service helps workers establish formal financial records for credit applications. Platforms like Zomato and Swiggy facilitate these filings for numerous partners. This shift signifies growing tax compliance within India's gig economy.
Hyderabad man compares Rs 230 restaurant bill with Rs 436 Swiggy order: Same meal costs almost double online
A man's eye-opening comparison in Hyderabad unveiled a staggering mark-up on restaurant meals ordered via Swiggy. A meal priced at Rs 230 directly from the establishment surged to Rs 436 on the platform. This price difference ignited a lively debate online about the trade-off between delivery convenience and added costs, prompting users to question if such charges are warranted.
Indian diaspora founders account for $560 billion of overseas unicorn value: Report
The figure was calculated by dividing each company’s value equally among its founders and adding only the share of those who grew up in India. If one of four founders of a $10-billion company met that definition, $2.5 billion was counted. It does not represent actual shareholdings or personal wealth. The 205 companies had a total valuation of $1.09 trillion.
Rs 1.68 crore investments, Rs 89,000 monthly MF SIP. Can this 40-year-old investor retire at 50?
A 40-year-old investor based in Pune is on a mission to retire by age 50 while providing for her two children’s education. With savings of Rs 1.68 cr from diverse investments, she plans to pay off her home loan by December 2026. Experts suggest she aim for a retirement fund between Rs 4-4.5 cr and adapt her investment strategy as her financial goals draw near.
NSE enters India’s mega-IPO club: 2nd-largest issue, 2nd-highest anchor count with 189 investors
NSE’s Rs 22,561.57 crore IPO ranks as India’s second-largest, behind Hyundai Motor India. The exchange attracted 189 anchor investors and raised Rs 6,746.18 crore before opening for public subscription, making it the second-highest in the historical anchor investor comparison.
UPI MDR prompts D2C brands to reassess costs as festive sales loom
Under the new framework, the government has introduced a 0.4% MDR on P2M (person-to-merchant) UPI transactions above Rs 2,000, capped at Rs 300 for transactions of Rs 75,000 and above.
Zomato introduces fee of up to Rs 30 for pay-on-delivery orders
In a recent update, Zomato has started imposing a convenience charge on cash-on-delivery orders, which will be in addition to its current platform fees. This initiative is intended to increase the company's profitability. Meanwhile, Swiggy has refrained from introducing such charges, and the newly launched Ownly offers a fee-free experience for its users.
Adidas begins layoffs at India Tech Hub in Gurgaon, nearly 20% workforce affected
Adidas said less than 20% of employees in its India Technology organisation have been affected by layoffs at its Gurugram Tech Hub.
Amazon Alexa+ launches in India at ₹2,000/month: Leadership on AI, privacy and what’s next
Amazon has launched Alexa+ in India, adding generative AI, personalised conversations and task-performing capabilities to Alexa. Available under Early Access from September 16, it supports Hindi and Hinglish and can work across smart-home devices, Amazon services and partner platforms. Alexa+ will be free for Prime members after Early Access, while other users can access it through paid plans.
Amazon launches Alexa+ in India with generative AI, Hinglish and smarter voice controls
Amazon has launched its generative AI-powered Alexa+ assistant in India. This new version offers more conversational voice interactions and personalized responses. Alexa+ understands natural conversation and can perform various everyday tasks for users. It is designed to recognize Indian languages and cultural references effectively. The service is currently available for eligible customers under an early access program.
Swiggy Instamart witnesses Ganesh Chaturthi rush: 176% more eco-Ganpatis, 145% more mawa modaks compared to last year
Instamart reported a rise in demand for eco-friendly Ganpati idols and mawa modaks during Ganesh Chaturthi on September 14. According to the company's data, eco-friendly clay idol orders increased 176% year-on-year, while mawa modaks rose 145%. Flowers peaked at 868 orders a minute at 7:42 am, while Bengaluru recorded the highest festive order volume.
Amazon crosses $1 billion in annualised quick commerce sales: India chief Samir Kumar
Amazon India's quick commerce unit Now has achieved $1 billion in annualised sales. The company is rapidly expanding its operations to over sixty cities currently. Amazon Now plans to reach one hundred cities before the festive season begins. It is investing heavily in its logistics and quick commerce operations. The company aims to increase its market share in the quick commerce sector.
Psychology says people who stand in queue for hours to buy an iPhone aren't necessarily Apple fans, they may be doing it for more than just the new phone
iPhone 18 queue Psychology: Why do people stand in long queues to buy a new iPhone when they can order it online? Psychology and consumer behaviour research suggests the answer may involve more than Apple loyalty. Studies point to the appeal of being among the first, social proof, perceived scarcity and the experience of waiting itself, with the queue potentially becoming part of the iPhone launch experience.
Samir Arora-backed Helios Mid Cap Fund exits Dixon Technologies, 2 others; adds 7 stocks
Helios Mid Cap Fund, backed by Samir Arora, exited Dixon Technologies, Aadhar Housing Finance and Black Box in August. The fund added eight stocks, including Coforge and Lalithaa Jewellery, while increasing exposure to 15 stocks and holding 72 stocks across 23 sectors.
India’s festive demand hits 5-year high: From cars and ACs to TVs, apparel and quick commerce, retailers expect a bumper Navratri-Diwali season
Consumer demand in India has reached a five-year high during the initial festive period, with sales growth recorded across home appliances, automobiles and apparel. Online platforms and quick-commerce services have also reported significant increases in sales. Automakers and white goods manufacturers witnessed strong demand and record festive sales, while industry executives expect the positive momentum to continue through the peak consumption period.
Swiggy launches dedicated food safety helpline, in-app channel for customers to report order-related concerns
Swiggy has introduced a dedicated helpline and an in-app channel for food safety concerns. Customers can now report issues by calling a specific number or using the new help section. This initiative aims to enhance customer feedback and address potential food safety gaps effectively. The company will review complaints on priority and take necessary actions promptly. These measures align with increased attention to food safety regulations across India.
Rs 80,000 crore digital ad pie: Karan Taurani spots a hidden profit lever in new-age stocks
India’s new-age internet companies may be sitting on a profit engine that investors are still not fully pricing in: advertising.
Flipkart Minutes sees path to profitability, plans 100 new fulfilment centres every month
With its sights set on aggressive growth, Flipkart Minutes is swiftly enhancing its operations and bolstering financial results. The initiative aims to roll out multiple new fulfillment centers monthly while keeping profitability at the forefront. An increased emphasis on non-grocery products and reaching smaller urban areas are becoming key to its expansion. In parallel, Flipkart is exploring a dedicated app and crafting private-label merchandise.
Udaan to acquire Swiggy-owned retail distribution company Lynk Logistics
Udaan is acquiring Swiggy-owned Lynk Logistics in a deal valuing the retail distribution firm at Rs 500 crore. Swiggy will receive a 2.8% stake in Udaan and invest Rs 75 crore for an additional 0.4% stake as part of the transaction.
Swish raises $24 million funding, bets on repeat orders to scale up 10-minute food delivery
Swish, a 10-minute food delivery startup, has raised $24 million to expand its kitchen network and supply chain. The two-year-old company has crossed one million monthly orders, with 70–75% of revenue coming from repeat users. It operates 250 stock-keeping units (SKUs) across 20 categories in 50 pincodes.
Udaan to buy Swiggy’s Lynk; India’s BRICS tech push
Udaan is set to acquire Swiggy-owned Lynk Logistics. This and more in today's ETtech Top 5.
Stocks in news: Swiggy, M&M, REC, Adani Power and Bajaj Finserv
Indian stock markets closed lower on Monday, extending their losing streak for four weeks. Investor sentiment remained subdued due to rising oil prices and geopolitical tensions. Swiggy announced a stake sale in Lynks Logistics for approximately $52.4 million. Mahindra & Mahindra maintained its leadership in the domestic tractor market by volume. REC issued India's first pilot tokenized corporate bonds, receiving strong investor interest.
Flipkart launches standalone Minutes app, rolls out food delivery pilot ahead of BBD sale
Flipkart has launched a standalone app for its quick commerce arm Flipkart Minutes, ahead of its Big Billion Days sale. The company is also piloting food delivery service ‘Eat In’ with a select group of employees. This comes as Flipkart’s MAU share declined as customers shift to quick commerce platforms.
Swiggy sees 4% equity change hands in block deals; shares gain 2.5%
Swiggy shares rose 2.53% following block deals involving 4% equity. The company faces MSCI index removal on September 7 due to foreign ownership caps, while Q1 FY27 results showed a narrowed net loss of Rs 791 crore.
Late-stage funding squeeze; ISRO opens up space
Happy Tuesday! India’s late-stage funding market is tightening, with investors writing smaller cheques and pushing for lower valuations. This and more in today’s ETtech Morning Dispatch.
Is your 'world-class' really worthwhile?
India’s obsession with calling everything “world-class” often outpaces its willingness to uphold the standards that make excellence possible. From filthy restaurant kitchens to encroached pavements, leaky exams and everyday jugaad, the pursuit of a developed India demands more than grand aspirations. It requires accepting the discipline, accountability and sacrifices that genuine quality entails.
How Ather powered past Ola; Apple's first foldable iPhone
Ather Energy has surpassed Ola Electric in sales and other metrics. This and more in today’s ETtech Top 5.
Swiggy shares fall 2%, down for 3rd session, as MSCI set to remove stock from Global Standard Indexes from September 7
Shares of Swiggy experienced a decline following MSCI's decision to exclude the company from global indexes, prompted by its shift to full Indian ownership and control. The new foreign ownership constraints limit further investments. Swiggy is targeting robust adjusted EBITDA growth by FY31, even as it reported a net loss while revenues showed an uptick in Q1 FY27.
India’s niche brokers see sharp rise in active trading users
The landscape of Indian brokerage firms is changing as smaller platforms enjoy a boom in clientele, leaving larger firms in a state of flux. Experienced traders are gravitating toward these nimble, innovative platforms that emphasize robust trading capabilities rather than just competitive pricing. In contrast, giants such as Groww, Zerodha, and Angel One are seeing a notable decline in user growth.
MSCI to drop Swiggy from global indices on September 7
Global index providers MSCI and FTSE are set to revise Swiggy's index treatment shortly. MSCI is removing Swiggy from global indices, which will lead to considerable passive outflows. Additionally, FTSE has modified Swiggy's investability weight due to foreign ownership limits. Together, these alterations are projected to trigger passive outflows surpassing $350 million, causing Swiggy shares to drop on Wednesday after the news broke.
Government panel plans to retain rule allowing doorstep drug delivery
A government sub-committee has decided to uphold the 2020 rule for doorstep delivery of medicines, recognizing its critical importance for elderly patients and those living in remote locations. Despite the chemists' request to revoke the rule due to concerns of misuse by digital platforms, the sub-committee concluded that maintaining this service is essential for vulnerable populations, recommending instead a stricter enforcement of the existing regulations.
Swiggy shares drop 4%, market value down Rs 5,000 crore in 2 days. Here’s why
Swiggy shares fell sharply on Wednesday, extending their two-session decline to 6% and erasing nearly Rs 5,000 crore in market value. The stock faces potential foreign outflows after entering the NSDL red-flag list and possible exclusion from MSCI and FTSE indices. Jefferies, however, retains a Buy rating with a Rs 435 target.
Swiggy forays into dedicated travel concierge service with CREW
Swiggy's CREW platform has launched as a dedicated personal travel concierge service. This service plans, books, and curates entire journeys with on-site assistance. CREW offers round-the-clock support and real-time itinerary changes for travellers. Human concierges, backed by AI, provide fast and personalized responses. Travellers can access exclusive hotel rates and priority pricing through CREW's network.
MDR on UPI coming soon; India's new class of robot workers
Happy Friday! With a fee on UPI set to come into the picture soon, issuing banks are poised to claim the biggest slice. This and more in today’s ETtech Morning Dispatch.
MSCI to delete Swiggy from standard indices on foreign ownership limit breach risk
MSCI will remove Swiggy from its Global Standard Indexes on September 7, 2026, due to foreign ownership limit breaches. This deletion adds pressure on the stock, forcing passive funds to reduce exposure while limiting fresh foreign investment.
Stocks in news: Swiggy, Adani Ports, IDFC First Bank, Hexaware Technologies and Sun Pharma
Indian markets experienced a sharp decline on Wednesday due to global factors. Technical analysis suggests further downside potential for the Nifty index. Several companies like Swiggy and Adani Ports are in focus today. Hyundai Motor India aims to regain its market position with new launches. ONGC is reviewing its Venezuelan assets after receiving US approval.
Ahead of Market: 10 things that will decide stock market action on Monday
Indian benchmark indices ended slightly higher on Friday, with the Sensex rising 363 points and Nifty closing below 23,898. Investors monitored global market cues, US economic data, and inflation reports, while stock-specific action drove intraday activity across major sectors in a sideways-moving market environment.
Small wins, breakups and bad weather among new travel triggers for Indian travellers: Study
Indian travellers are increasingly taking trips without waiting for holidays. Fifty-eight percent of travellers took trips simply because they wanted to. Many travellers booked trips to celebrate small wins and for a change. Everyday situations also emerged as unconventional triggers for travel. Travellers are creating their own reasons to get away.
Two incomes, Rs 3 lakh a month, yet financial freedom feels distant: The double-income trap
A Gurgaon-based founder has sparked an online discussion about why a household earning Rs 3 lakh a month may still struggle to feel financially secure. Dr Sunny Garg said families can gradually build homes, education, vehicles and daily expenses around two incomes, making it difficult for either partner to leave work. He argued that financial freedom also depends on how long a family can manage without one income.
Slice’s big valuation cut; Betting networks under lens
Slice Small Finance Bank has raised fresh funding at less than half its previous valuation. This and more in today's ETtech Top 5.
Rapid food delivery startup Swish to raise $20-25 million led by Bertelsmann India: Sources
The transaction, which is also likely to see participation from Swish’s existing investors, is expected to value the two-year-old company at around $200 million, one of the persons said. Swish had last raised $38 million in March at a valuation of $120 million. The round was led by Bain Capital Ventures, with participation from existing investor Accel.
Popularity was never my goal; what matters is public health: FDA Commissioner Tukaram Mundhe
Maharashtra FDA Commissioner Tukaram Mundhe prioritizes public health over personal popularity. He has taken action against 12,083 establishments for various food safety violations. Hygiene, raw material quality, and manpower are common restaurant violations identified. Online food platforms are also considered food business operators and have faced action.
Protein Mini Scooper: Small packs, big push to make nutrition affordable
Companies are introducing smaller, affordable protein food packs to boost consumption. These convenient options cater to discerning Indian consumers seeking more protein. Brands are making protein-rich foods accessible through smaller formats and lower entry prices. Even naturally protein-rich foods are being packaged in smaller, economical portions. This market shift prioritizes affordability and convenience alongside protein content.
Ahead of Market: 10 things that will decide stock market action on Friday
The Indian stock market closed lower Thursday, with Sensex down 417 points and Nifty falling 41 points, pressured by high oil prices, bond yields, and geopolitical tensions. Despite strong domestic growth, near-term market direction hinges on global risks and crude oil volatility.
Swiggy's Food on Train network expands to 201 railway stations
The Food on Train network now includes Kolhapur, Wardha, Shahdol, Kakinada, Bharatpur, Chittoor, Thanjavur, Raigarh, Jamnagar, Indore and Tundla stations, among others, Swiggy said. The online food delivery firm also shared interesting trends around the evolving food habits of train travellers. In just over a year, passengers have switched from fast food and carbonated drinks to healthier, refreshing options, it stated.
India's e-commerce market to hit USD 345 bn by 2030; dark stores to triple: Report
India's e-commerce market will nearly triple to USD 345 billion by 2030. Quick commerce is the fastest-growing segment, contributing significantly to this expansion. Gen Z will become the largest digital spending group, driving online purchases. E-commerce will represent a substantial portion of total retail spending nationwide. Artificial intelligence will boost retail productivity and transform consumer shopping experiences.
Restaurants tighten supply chains, hygiene standards amid crackdown
India’s food safety crackdown is prompting restaurants and food delivery platforms to tighten checks on ingredients, suppliers, hygiene and staff training. QSR and fine-dining chains are strengthening vendor audits and kitchen controls, while quick commerce firma Zomato has warned of strict action against restaurants using items such as analogue paneer amid growing regulatory and public scrutiny.
Flipkart Minutes overtakes Swiggy Instamart in dark stores across top 10 cities
The gap is narrow but significant, pointing to the rapid expansion of Flipkart's quick-commerce business even as established players continue to deepen their networks. The 10 cities together account for 3,536 dark stores, according to CLSA's Quick Commerce Map, with Blinkit leading at 969 stores, followed by Zepto at 828, Flipkart Minutes at 627, Swiggy Instamart at 615 and BigBasket at 497.
Ambani uses ₹10 power again for the next disruption in a hot Indian market
Reliance Consumer Products has entered India’s ice-cream market with Bombay Creamery, pricing cups, cones and sticks from ₹10. The brand is initially rolling out across western India before a planned nationwide expansion, bringing RIL’s low-price, high-distribution strategy to another consumer category.
Quick commerce expands to 477 cities as players target smaller, untapped markets: CLSA
Quick commerce is expanding rapidly into 477 Indian cities beyond major metropolitan areas. Newer players are targeting underpenetrated geographies, seeking a first-mover advantage in these markets. Established companies are deepening their networks in key cities while testing smaller dark store setups elsewhere. Blinkit leads in dark store count nationally and in six top cities, with a strong presence outside major hubs.
From viral posts to raids: How online anger is reshaping India’s food-safety crackdown
Social media outrage is driving India's food-safety crackdown across the nation. Viral posts expose hygiene issues, prompting increased government inspections of food businesses. Regulators are stepping up checks, leading to suspensions and product seizures nationwide. This enforcement drive targets restaurants, hotels, and quick-commerce operations.
Amazon, Swiggy Instamart, BigBasket food licences suspended in Karnataka over datura listings on platforms
Amazon Swiggy Bigbasket Food Licence Suspension News: Karnataka's Food Safety and Drugs Administration Department has suspended the food licences of Amazon, Swiggy Instamart and BigBasket after datura fruits and seeds were found listed as food products. The department ordered the platforms to remove the listings and stop selling or distributing datura for human consumption.
Uber, Eternal, Porter quit Karnataka gig and platform workers welfare board
The state government has approached other platforms to fill the vacancies. Delhivery, Namma Yatri and Yulu have responded positively and agreed to join the board, people familiar with the development told ET. So far only 15 platform companies have registered with the board, collectively representing about seven lakh gig workers.
Rising fuel prices push gig workers towards fixed-pay, lower-cost jobs
Gig workers are now more selective about jobs due to rising operating costs. Many are shifting to roles offering predictable earnings or lower expenses. Employers are expanding incentives and EV-linked opportunities to attract delivery workers. Job postings for electric vehicle roles and fixed-pay positions have seen significant growth. This trend indicates a move towards more sustainable gig work as a livelihood.
Retailers, quick commerce companies limit sugar rush amid stock pain
Retailers and quick-commerce platforms including D-Mart, BigBasket, Blinkit and Swiggy Instamart have started limiting sugar purchases as supplies tighten ahead of the festive season. Retail sugar prices have risen about 40% in two months.
MSCI rebalancing on Monday: Adani Energy, Groww set for big inflows; RIL, Jio Financial may face outflows
MSCI’s latest rebalancing is set to drive heightened trading activity in several Indian stocks on Monday, with revised weights taking effect from September 1. The final 30 minutes of Monday’s session could see significant activity as investors adjust positions. According to Nuvama Alternative and Quantitative Research, the changes include index additions and exclusions, along with weight revisions across several stocks.
Sugar shortage bites: Retailers cap purchases, prices surge 29% ahead of Raksha Bandhan
Major retailers are limiting sugar purchases to three kilograms per customer. Quick commerce platforms also restrict sugar sales to a few packs. This comes as sugar supplies tighten before the Raksha Bandhan festival. Government-approved raw sugar imports aim to ease the tight stock situation. Prices have risen significantly and are expected to continue increasing.
Industrial47 raises Rs 85 crore in first close of debut fund to back frontier-tech startups
The fund is targeting a corpus of Rs 150 crore, with a Rs 50 crore greenshoe option. It plans to invest Rs 2-10 crore in 15-20 companies across areas including space systems, defence, energy, maritime intelligence, advanced manufacturing and other technologies linked to national security and strategic infrastructure.
From N Chandrasekaran to Campbell Wilson: A look at some of India Inc’s biggest names who are walking out in 2026
India's corporate landscape sees significant leadership changes in 2026. Several high-profile executives are departing from major companies like Tata Sons and HDFC Bank. This leadership churn indicates a period of transition for India Inc. Meanwhile, influential tech leaders are moving to AI companies like OpenAI. These shifts highlight evolving strategies and the increasing demand for AI expertise.
Minimum wage hikes add to cost pressures for retailers and gig firms ahead of festive season
Companies employing lower-paid and gig workers are facing higher labour costs after more than 15 states raised minimum wages since April, adding pressure ahead of the festive season.
