The rapidly growing quick commerce is now entering the retail sector and is set to expand into more sectors in India, says Hari Menon, co-founder of BigBasket.com.
In his keynote address at the Kerala Management Association’s 42nd annual management convention in Kochi recently, Hari Menon noted that the grocery market in India, valued at $600 billion, was predominantly driven by family-run stores and accounted for 95% of the sector.
Menon said quick delivery services would complement rather than disrupt these traditional stores. Currently focused on groceries, quick commerce is poised to expand into categories such as clothing and electronics, he added.
A discussion on the life and contributions of Ratan Tata at the IMA convention featured Thomas Mathew, former IAS officer and author of Ratan Tata: A Life, in conversation with former MLA K.S. Sabarinathan.
Mathew said Rata Tata was dedicated to social service alongside business success. Sabarinathan recalled Tata’s quiet but significant support during the 2018 Kerala floods, underscoring his preference for understated philanthropy.
The `Innovating Fashion' session emphasised the need for flexibility and affordability in the fashion sector. Panelists argued that affordable fashion will drive the industry’s growth, highlighting the potential for innovation through technology. The session featured Sreejith Jeevan, founder of Designer Rauka, global fashion consultant Vinod Nair, Craft Village co-founder Uma Prajapati, and Somesh Singh, who collectively advocated for leveraging Kerala’s creative potential to foster industry growth.
Prasad K. Panicker, executive chairman of Nayara Energy, discussed the company’s commitment to renewable energy. Nayara is exploring opportunities in solar power, hydrogen generation, and ethanol production as part of its strategy to adapt to the changing energy landscape. Panicker reaffirmed the company’s goal of aligning with the nation’s developmental objectives.
The panel discussion moderated by IIM associate professor Mohammed S. Abdullah examined the role of financial technology (fintech) in transforming banking and financial services. Panelists included Abhishek Wala Walker of the National Stock Exchange and Sumot C of the Federal Bank. The discussion explored emerging trends and the integration of fintech to enhance service delivery.
The event also featured speeches by Thambi Koshy, managing director of ONDC, and Rohit Dogra of ITC Limited. The convention served as a platform to exchange ideas and chart the way forward for innovation and adaptability in business.