Never miss a story

Get subscribed to our newsletter


×
Life beyond chargers, cords and dying phone- Researchers, including one of the Indian-origin, have invented the cell phone that works without batteries. Pixabay

The great Indian baniya community, single-mindedly focused on business and keeping a close tab on profits, has embarked on a digital journey to understand their customers better and boost growth.

Utilising new technologies like Artificial Intelligence (AI), Machine Learning (ML) and data analytics in their businesses, they know better what the young buyers’ preferences are.


Today, India’s Gen-Y shop using a mix of online and offline modes where they compare prices and refer to reviews online even when they shop in an offline store.

The traditional acumen, mixed with New-Age technologies, have unleashed a new breed of baniyas who are defying old wisdom and charting new courses.


Behind every successful entrepreneur, there’s an army of loved ones having their back.

“Anyone can set up and start a business with a small or a big idea or investment but without having a business sense, the knowledge of trade and the market trends, they can’t survive. Baniyas are ahead in this game with additional support of family culture and community,” says Anoop Mishra, one of the nation’s leading social media experts.

Indian millennials — aged 18-35 and accounting for nearly 34 per cent of the population — have driven e-retail industry’s growth through their increasing Internet usage, says global services firm Deloitte.

“Millennials’ increasing usage of internet for shopping has driven growth of online retail. E-retail is expected to surge from 3 per cent of total Indian retail market in 2017 to 7 per cent by 2021,” said the report.

Convenience of buying anywhere and anytime, discounts and access to products not available offline are some of the key reasons for India’s Gen-Y going online — and Baniyas know this well.

Prasoon Gupta, Co-Founder and Director, Sattviko Foods, says his idea was to offer a snack that finds its origins in traditional Indian recipes but with a modern twist for young consumers.

“Right from coming up with a unique idea to differentiate ourselves from the other players, and what they deliver, Sattviko has overcome many hurdles and has thrived in its journey to where it is today,” Gupta told IANS.


Tips to expand business . Today, India’s Gen-Y shop using a mix of online and offline modes where they compare prices and refer to reviews online even when they shop in an offline store.Flickr

He has developed an AI-based technology platform called “JIGSAW” to enhance and scale-up the distribution medium.

Ola is serving over one billion customers annually and is creating employment opportunity for millions through its ride-hailing platform.

Ola Co-founder and CEO Bhavish Aggarwal who set up the firm some eight years ago believes the future of employment is micro-entrepreneurship.

According to Mishra, “Unlike entrepreneurs who believe in concentrating on business administration, baniyas are hawk-like people”.

“This is the secret to their ever-flourishing business,” Mishra noted.

Also Read: World’s First Fully Solar Powered Airport In India

Baniyas are strict with keeping their balance sheets up-to-date. They are also a closely-knit community and adhere to their clan’s unwritten rules very strictly.

The inner community network plays a big role, where they have enough access to trade or business knowledge, availability of funds and other resources. Almost all of them have retained the hard-nosed approach of their forefathers.

“The current army of baniyas knows by heart how their forefathers worked. It is deep down there, even if they live and study abroad and then start their business back home. It is right in their genes,” said Mishra. (IANS)


Popular

wikimedia commons

Children playing ringa ringa roses in an open backyard in England

Great historic events that have shaped the world and changed the outlines of countries are often not recorded in memory, or so we think. Wars made sure to destroy evidence and heritage, and the ones who survived told the tale of what really happened. Folklore, albeit through oral tradition kept alive many such stories, hidden in verse, limericks, and rhymes.

Ringa-ringa-roses, a common playtime rhyme among children across the world, is an example of folklore that has survived for many centuries. It tells the story of the The Great Plague of London which ravaged the city between 1665-1666.

Keep Reading Show less
wikimedia commons

Certain tribes have remained matrilineal, where the decision-making power rests with the eldest female of the family.

In modern times, many social movements aim to bring reform to the society we live in, on the basis of certain existing patterns. Patriarchy is something that many aim to cleanse our cultures of, to usher in the era of social and gender equality. Despite all these so-called movements, in southern India, certain societies that patronise matriarchy have existed since before India's independence. The Nairs and Ezhavas of Kerala, and Bunts and Billavas of Karnataka are matrilineal societies that continue to thrive in a patriarchal country.

Kerala remains separate from the rest of India in many ways. Be it literacy policy, form of government, or cultural practices, this state does not always conform to the ideal that India is known for. Even so with their social structure. Certain tribes have remained matrilineal, where the decision-making power rests with the eldest female of the family.

Keep Reading Show less
Photo by Medhat Dawoud on Unsplash

It is the world's top tech company in turnover (totaling $274.5 billion in 2020) and its most valuable corporation.

Apple inc. Is an American multinational tech firm specialized in consumer electronics, computer programs, and internet services founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976 to manufacture Wozniak's Apple iComputer. It is the world's top tech company in turnover (totaling $274.5 billion in 2020) and its most valuable corporation. Apple is the fourth-largest PC seller by unit sales and the fourth-largest smartphone manufacturer in the world.

Apple has revealed a slew of new products at a special launch event that has been long-awaited. On the day of the live event, Apple announced the iPad mini, Apple Watch Series 7, iPhone 13 mini, and iPhone 13, as well as the iPhone 13 Pro and iPhone 13 Pro Max.

Keep reading... Show less