Can Ola Electric Be India’s Biggest Global Brand?
ฝัง
- เผยแพร่เมื่อ 27 ก.ค. 2024
- In this debate, we look at Ola Electric's journey of becoming the market leader in India's two-wheeler EV space and its pursuit of going global and whether that's feasible?
00:00 - Intro
00:10 - Why do Indian brands fail globally?
03:22 - Will Ola Electric succeed outside?
06:55 - Why Ola Electric succeeded in India?
11:22 - Why Ola will do well outside India?
14:10 - Ola and Bhavish's track record
20:18 - Future Predictions
Ola Electric was founded in 2017 by Bhavish Aggarwal, founder of Ola Cabs. The company started taking orders for its electric scooters in August 2021 and started delivering in December of the same year.
Within 3 months of launching, Ola Electric became number one in terms of most electric two-wheelers sold in India. It has managed to maintain this spot for the most duration since.
Towards the end of 2022, Ola announced its plans of going global, first in Nepal and then in Italy.
In Nepal, it is competing with Chinese brands like Yadea, and in Italy, it is competing with the likes of Piaggio.
The company has further announced plans to launch in markets like Latin America, middle-east, European markets, and other Southeast Asian markets.
The company has announced its plans of going global and helping India lead the EV race.
Firstly, it is developing the world's largest EV two-wheeler factory with an output of 10 Million vehicles every year.
Secondly, it is also building the world's largest EV manufacturing facility, where it will focus on four-wheelers and cell manufacturing.
The company is also investing heavily to bring battery manufacturing in-house to have more control over the quality and price.
Follow us on Social Media:
Twitter: / bwmillionaires
LinkedIn: / backstagewithmillionaires
Instagram: / backstagewithmillionaires
Podcast: open.spotify.com/show/5rGPalo...
#startup #business #entrepreneur #olaelectric
Mahindra Tractors 💪🚜
Hey caleb why at 12:52 you asked for ppp adjustment there cause ola scooter was already comparatively cheaper than their rivals,were you asking just for sake of seeing that can an individual afford to it or not?
Ola making loss in India. Mahindra selling not tractors in mainstream category of 55hp and above. It's selling in the toy category under 10hp.
Mahindra Thar selling in US not as a road worthy vehicle but as a large ATV ie a full size jeep like product at less cost than a typical ATV ( though lower tech) . Not licenced to use on public roads.
New guy is amazingly articulated.
He isn't new. He has started showing up recently!
1. Infosys, Wipro and many other Indian IT Services companies have succeded globally and built a brand
2. Starbucks has a partnership not because they could not "crack" India, but because of regulations. They needed an Indian partner
I would like to see OLA emerging as a global brand competing Tesla.
Me too! Let's hope they emerge as a low-cost competitor. -Caleb
Yeah, it would be cool to see tesla va byd vs Ola
Um thats a stretch
Indian two wheeler companies are very popular in Africa. Airtel is in 18 nations in Africa. Hero, TVS, Bajaj two - wheelers.
Excellent point, Airtel is a prime example of Indian company going international! -Caleb
@@backstagewithmillionairesright...airtel also have majority stakes in OneWeb...
I like this concept of having the debate please continue doing it.
I believe in Bhavish's vision but we also have seen cases where Ola scooters got negative PR as their many scooters caught fire. Getting into a global market is not a joke these kinds of mistakes can really affect the company's reputation and plus OlaCab is also getting lots of criticism.
I get your point, but don't you don't you consider the fact, that even Tesla caught fire... So, such things are pretty common. You cannot expect 100% perfection...
Not many only 1 scooter caught fire.
However, they do have other softwere issues which they must fix.
Not many Scooters just 1 scooter caught fired...
EVs Catching fire is an over exaggerated reporting, only a handful of OLA caught fire that too after some kind of damage in an accident. However OLA does have legit design and build quality issue, front suspension was the infamous among them. The only EV in India that had some sort of legit battery issue is Pure EV and they are declining as a result of that. People who are talking about Tesla catching fire, less than 100 Teslas caught fire(among the few millions that they have sold so far) and most of them did because of some sort of damage that happened in accident. The only global EV that had genuine battery fire issue was GM Bolt EV from a particular batch. But again, there are thousands and thousands of ICE car that catch fire every single day but that are not reported in media because that's so common, EVs are 100 times less likely to catch fire than their ICE counterpart.
Not many probably 2-3 caught 🔥 as far as I have counted...
amazing debate!
i agree with a lot of points that Caleb put forth
but, i also feel that Ola has a really good chance to make it big whenever they "enter" the international market, majorly because of the price
one important thing that i think you guys missed is quality assurance/safety
Indian vehicle compliance is lax compared to that of other countries
and there's news of Olas catching fire, malfunctioning, breaking down, etc.
Very true Rajat. We sort of skimmed over the safety part because Ola seems to be working hard to fix this, and also it's something most people are very familiar with at this point, but very valid point nonetheless. -Caleb
Ola success in India is not just because of just pricing and bradind but due to it have lots and lots of features and excellent performance
Whenever I go out, I barely see 3-4 or sometimes 5 EVs on the road in the ENTIRE trip, and yes most of them are Ola's, so I still think Ola and other players have way more potential in India. Their customer support isn't great I see but I'm still bullish on Ola. I so want to see an Indian brand go global successfully.
Same here! Rooting for Ola Electric - took a strong stance in this video for the sake of debate, but I genuinely want OE to be a global brand taking on these Chinese and American EV giants in a decade or less 🤩 -Caleb
Nah Tata and Mahindra will still likely be ahead at least in case of cars. Speaking of global brands Indian two wheeler brands like Bajaj, TVS, Hero and Royal Enfield are ahead of four wheeler brands with Royal Enfield being the most famous. But Ola has done a commendable job despite all failures.
tata maybe not any soon but mahindra will be
Nah.
Thankyou for this debate, it was intresting. Please continue this kind of programs.
Such an awesome discussion. Thankyou for a detailed overview about the OLA future plans. Expecting more such a quality vodeo discussion from you gyyss❤❤.
I guess this debate was recorded before Bhavish's tweet few days ago which was the major point of the debate.
They are dependent so much on external technologies from other countries and they are still planning to start R&D, meaning they don't have a proper R&D! They should have started this way back before diversifying and getting into too many sectors at once. That way, they will have competitive advantages.
I'd say they are far from Other Indian companies and too minuscule to be even compared with Tesla. Both those companies have real R&D going on for years.
The tweet for reference: twitter.com/bhash/status/1674564187388006400?t=N1yggrD8RQhHISje3ftAuA&s=19
I agree, without R&D and robust infra, OE will struggle to compete long-term. Glad to see Bhavish recognised this, and they've invested in setting up their cell R&D facility, as well as cell manufacturing plant. -Caleb
@@backstagewithmillionaires Yes, thanks for the reference. Just couldn't add it myself here.
I agree, they have recognized it. Hope to see more R&D stuff from them than just cell manufacturing like motors, BMS, convertors, controllers and so on. That's where they lag from other companies.
great discussion and positive insights! thoroughly enjoyed 👍
Old monk , Monte Carlo 🤔 . UPI is also getting popular globally 😁
Old Monk is one of my favourite Indian international brands! Can't believe I forgot this while filming 🤦♂️ -Caleb
UPI is only for Indians ....even in the global market
Yep, Arnab is right. UPI going globally = UPI being accessible to Indians living/travelling outside of India. You can only use UPI with an Indian bank account. -Caleb
TVS motor, Hero also dominate two wheeler market over seas, Latin american countries and african is where they dominate over other japanese brands. Pharma companies in india also has huge export market overseas.
What's your prediction for Ola Electric after 5 years?
I opine that they aren't going to win the game after looking at their 2 wheeler vehicle sales/complaints.
Bhavesh Aggarwal launches a new subsidy company Ola Hydrogen
- Among global brands you forgot Mahindra... One of biggest in farm equipments and tractors.. In africa and australia they have started to catch imagination... so did Roxor in US... OR am I reading it wrong ?
- and not to forget many Tata brands have global presence in B2C space say Taj Hotels, Titan (In GCC too)...etc
- DO NOT get me wrong in saying.. but having lived for far too long in UK, EU and US....I see issue and hurdle will come from inherent "racial bias"... almost whole of white west LOVES to HATE india.. ONE has to be FOOLISH to NOT acknowledge that...
- IN 5 YEARS, it will come down to how India manages its space in geo-politics, geo-economics and geo-technology space, which will drive "western narrative" and therefore Brand India... When I lived in UK in late 90s to early 2000s.. Chinese faced similar "negative racial bias" but steadily they have reached a point that NO MATTER how NASTY CCP gets towards west... All western leardership from US to whole of EU etc INCLUDING their big corporations CEOS from Apple to Tesla to "Blackrock" to all Big Tech and social media - FALL FLAT in CCP's feet... and on these terms like geo-politics, geo-economics, geo-technology and also narrative warfare - I see India is in right direction.. 5 years is a good timeline to "arrive"...
No. 1 in India in passengers movement & battery operated vehicles.
Ola and Ather will have an international presence. Hero already has huge international market, should be possible for them to reuse the distribution for either Ather or Hero branded vehicles.
Other markets might not have the same expertise in low cost high volume two wheelers like Indians companies do.
Great work 👍. Please post more such videos....
Balanced Video ! Thx
Hi Caleb. Very nice videos as always. I just wanted correct one thing. I maybe wrong though. In my opinion based on data on consumerism I read about the Indian market I understand that the top 1% and 10% a small section of society is the Ultra rich but middle class that most businesses target usually are the next 10-20% of population by income. So in all I feel only the top 70% of the Indian market is the consumerist market. So when you said 90-95% of India (around 09:50) knows about Ola I feel it might not be exactly true. Maybe the middle Middle Class may also know about Ola. But 30-40% of Indians are at the bottom of the Indian population by income I don't think they might be familiar.
Debate was awesome, I have really enjoyed even though I don't watch english content that much because I am not good in English😅
Thanks Pawan! 🙏 -Caleb
Few reasons why s1 pro sells well:
1. Good specifications
2. Decent pricing
3. Relentless execution
4. Higher reach due to online model
5. Ability to raise vc
6. They think big
wish it'll happen 😊
12:30
The specs. mentioned were of OLA S1 Pro. It comes with a 4KWH battery pack.
Tata motors is one of biggest truck manufacturer in the world having operation in more than 150 countries also they are no. one truck manufacturer in South Korea
The easiest way for them to have a trial run would be Netherlands.. They already sell Etergo scooters so why not rebrand the Dutch operation as Ola electric and then try to expand from there. Instead of focusing on multiple fronts they could target the Netherlands' EU neighbors first..
Videocon was there , Voltas , Mahindra , Ola , Raymond are well known brands.
The thing which distinguishes indian consumers with rest of others especially those in the europe and north america is that Indians are extremely price conscious, they may compromise on quality but not on price. The reason being that is simple less income percapita and often times one person is earning to take care of his other family members,so indeginious companies didn't bother to invest on R&D which is again the reason why Indian companies didn't compete with global companies in terms of quality. But as economy grows new companies are surely going to make their good footprint globally.
I will support Ola’s expansion but I also agree on your counter points because data speaks truth and only future can tell us what’s going to happen but my prediction is that they will be definitely in top5 in two wheelers segment if they build good reputation internationally.
Indian companies selling outside has basically 3 distinct markets. 1. Immediate neighborhood countries 2. Developing countries(LATAM and Africa primarily) and 3. Developed world (Primarily Australia, South Africa, US and UK). For the first category India sells exactly the same thing as the domestic markets, Tata's cars, Bajaj's bikes are prime example that they sell in droves in countries like Nepal. For the second category cheaper built things such as 3ws and 2ws are exported to south american countries, african countries and sometimes even some poorer middle eastern countries such as Syria, Iraq. You will see TVS and Bajaj and Hero dominating here. The 3rd category includes the newer Indian things, as the Indian economy is growing, so is the buying power of consumers and stringent safety norms, we are seeing better and better vehicles from Mahindra, Tata and Royal Enfield and all of them export their best bikes with some more safety/emission norms for the target market to the developed world. They are considered a cheaper but well built vehicles in those countries. Americans love Mahinda's off road vehicles and RE bikes, they get nostalgic of their vehicles built in 70s and 80s from these vehicles. On the other hand, Australians found the older Mahinda pick ups as their Utes, but the new XUV700 is actually making marks in Aus market. South Africa is somewhere in the middle, for them Indian top models are actually mid range and again Mahindra makes their mark there too. I think OLA has got a chance because they are the first EV company in India that are really utilizing the economy of scale and if and when they can build their battery cells, that will bring the cost down further, but it's still few years away. The primary reason India hasn't done well in exporting is because the domestic market is too easy and lucrative to focus outside, the secondary reason is to make a global name one has to build a quality product, which wasn't there until Royal Enfield and now Mahindra and I am sure soon Tata will join the game too.
I like this format
Thank you, glad to hear that! 🙂 -Caleb
That debate was so good ..
So glad you enjoyed it Shubam! 🙂 -Caleb
Automobile sector is hard. I don’t think we can equate that to a tech product launch. Even multiple models of Tesla launch were delayed. Some for a year or more.
I feel their customer experience issues seems to have slowed. They should be able to bounce back in other countries as well.
5:41 Why not include Royal Enfield as well ?
You've missed Tata Daewoo trucks in Korea. They're second only to Hyundai in HCV segment
I love your ❤️ podcast...I really waiting for next ..one ..
Great job guys..
Thank you Jeet! 🙂 -Caleb
amazing content
Ather, hero vida, bajaj chetak, simple one and Ultraviolette ev brands can also find success in overseas market, since they are advanced and very competitvely priced.
Pehle india me chalne do in ko ola beast hai ye sab bache hai 😂
Mahindra & Mahindra is the largest tractor manufacturer in world and is showing positive result in passenger vehicle segment globally too...
to get global market shares indian companies have to focus on quality with low price, like their profit margins will be very low due to this but that is how the japanese did it. To gain a reputation you have to do high quality with medium price (not low because then people start associating the brand with negative things like "oh its a poor people brand" so medium price)
I think the biggest hurdle Bhavesh going to face is western markets. unlike India in Europe & America people are more concerned about fit & finish of the vehicle for Indian old re350 were hit but in north America & Europe people hate that brand until they put efforts to make it competitive to European brands. so, I think if they are going to market which are not price conscious they need to modify their product & make it little more well-built.
Mahindra. They have presence in china too but totally joint venture.
Peoples abroad don't usually trust Indian brands. Mahindra was able to build brand value in USA.
That's wild, Mahindra is such a trustworthy brand compared to Chinese/American brands IMO. -Caleb
Make a video on e-grocery e-pharmacy
The battle is going intense as big players like Bigbasket(Tata), Jiomart(reliance), instamart(swiggy), blink it(zomato), Amazon fresh(Amazon), and Flipkart Grocery are competing with each other.
1mg(tata), netmeds(reliance), pharmeasy.
I have OLA S1, and i ride it 10000+ km, but no any problems with scooter
Smooth and useful features
good debate amazing points. tho I'm gonna have reservations about global expansion. think its too early, maybe after 3 or 4 yrs they'll finally have a proper crack at it.
I agree with Caleb.
🙏 -Caleb
I guess Caleb has a valid point. Ambitious goals are good only if there is action taken to fulfill them! Regardless, I am bullish on OLA as a company and an industry changer for sure!
Love the optimism Aditya! Feeling the same, hope Ola Electric can overcome their own internal limitations and go global in a big way! -Caleb
@backstagewithmillionaires I didn't think you would reply! OLA is a company that will make many more bhavesh like entrepreneurs in India 🇮🇳. At the very least, he is promoting thinking big and going global 🌎
@@backstagewithmillionairesbro you didn't mention Mahindra for any reason it is doing well in the global market and has a good presence in South Africa and Australia and usa ( farming and agricultural equipment). And I saw a case study of Indian two wheelers dominated existing Chinese bikes in Africa
7:50 loved the guy behind not giving a f star c k 💀
Mahindra has fairly good presence in tractor space
Not a single company will emerge as a global leader right now folks " righ now " But I can see the growth path of each and every manufacturer. The mahindra entering in Australian , and African markets with new models which is now comparable to global standards with a cheap cost. Increasing demand of Royal Enfield motorcycles in West as they are improving their models. I don't know specific about tata why they are not entering into the markes ( still when they have experience from jlr, if I was the CEO I would have gone for this one). I would definitely love to see max 1 to 2 companies to export in much markets in a decade. If you will ask me specifically about ola I myself dont trust this company going hard just because it doesn't have an experience weather if u will ask me about old companies I can say that yes they have capabilities and have a lot of experience to go hard even on premium categories ( hopefully let's see in future).
Oyo is doing well in different countries… CCD us also there is east europe. Mahindra is present in certain countries . Tata has TCS Infosys.
Maybe they wait for ready there recent fectory and of Lithium ion battery cell then they enter in other market to give big advantage and great pricing
Waiting for the Ola ipo
Good debate. I side with Caleb on this debate. The history and optics of Ola (especially Ola electric) have many red flags IMO. Ola is another of those new age (read lofty valuation) companies that will be in a rush to give its investors (and founders) some handsome returns (at the expense of the retail investor). It will see exactly the same plight as PayTM, Zomato, etc with no path to profitability whatsoever. Personally, I am not particularly proud of this brand regardless of its global presence or otherwise. The day when it enters Nifty Next 50, you'll know exactly what I am talking about.
One thing I didn't get a chance to cover in the debate is Ola Cabs' failed international expansion under Bhavish. You can interpret that as a pattern, or as a mistake Bhavish has learned from, but given the pattern we're already observing with OE's announcements/Bhavish's promises vs. the ground reality, I find it hard to be optimistic. Really hope they prove me wrong though!
Global S1 exports will likely be a loss leader for them unless they mark up their prices - but given the markets they're entering (mainly low/mid income), I can't see that working well. They'll be playing an executions game with thin margins, and execution isn't historically their strong suit. -Caleb
It isn’t that these international brands couldn’t succeed but the govt tends to put hurdles in the way to ensure that JVs are the only way forward there. It’s one of the highest protectionist countries on the planet.
Ola can't make their scooters work in India, how will they maintain international standards
They've literally just started buddy. Looked at Tesla pre 2018/19?
They were struggling to manufacture, it was a huge assembly line & supply chain issue.
Give ola time they will be a major brand by the end of the decade.
Airtel in africa is pretty underrated one
Mahindra tractors and 2 wheeler are doing great
Mahindra is biggest teactor producers in world
Mahindra, Titan, Ashok Leyland, TVS, Kirloskar, Sonodyne (Audio) etc. They are doing well in the other countries too and they are Indian !!!!
I was completely by Celeb's side the whole debate but when he mentioned about his competitors with figures, i am like if OLA doesn't mess things up by itself i don't really see people not choosing OLA over others, they are offering literally double the numbers as compared to their competitors with possibly better tech integration and design. It's true that till they get into those markets they possibly will have a lot more competitors but still the numbers being offered by OLA at that cost would be hard to match. Also this OLA division needs to perform exceptionally well at any cost else once they loose the trust from Global market it will effect the whole brands future in a real bad way.
Even US is unable to crack chinese market... If any brands try to enter China and want to do business either you have to partner with their domestic brands by sharing tech or face the loss ... and i think India should also try to move in that path as well...
Birla group has many international brands guys .🧐
TH-cam Shorts has given this channel new lease of Life
So true! People told us to make a seperate channel for shorts - I'm glad we didn't. -Caleb
Bharatiya brands are relatively new compared to western brands. We just arrived on the scene. We didn’t have a robust manufacturing or logistics ecosystem here. Everything will change in the next 10years.
Mahindra is kinda global. It sales in south africa,Australia. Mahindra tractor has good presence in usa. Mahindra owns pleneinfareena italian cars designer. It also owns jawa,bsa. Tvs owns notron
They are scaling at a very slow pace, i don't think they would succeed in 4 wheeler as when they would launch their own. Alternative sodium batteries will be in use. They would succeed in battery scooter though due toh their tech in the maps etc.
Check out the Incoming and outgoing FDI investment statistics. Indian MNCS are gradually increasing their investment footprint across the globe , and the year with the most outward FDI from India was 2022. USA interestingly is the largest destination for india's FDI. Indian firms have spent several billions in USA and employ half a million workers in USA. Naturally this is much less than the incoming FDI to india, but eventually both incoming and outgoing FDI will increase. Its a sign of prosperity.
You must look at simple energy and see how is their growth ola ather and simple will become the market leaders in world
Indian motorcycle companies are dominating the African market there was a time when 200 Chinese motorcycle companies dominating African market but today only two Indian companies are dominating the African market TVS and Bajaj Airtel is the largest telecommunication provider in Africa Mahindra Tractor Global leader in tractor segment
Two wheeler market is just mostly a third world or less per capita market… they need put 4 wheeler in the west so that they have a quality name abroad
Birla Group. Their retail clothing is supplied WW under various brands.
What about tata
TVS is another company which has international presence
If ola electric can manufacture battery cells on their own it's certainly possible.
Ola can be the next BYD or maybe even better. Unfortunately Ola cannot be the next tesla. Tesla is not an EV company. Tesla is an AI energy company.
*Caleb have Kid's? Seriously?* 😮😮
Oyo? BrowserStack? Zoho?
BrowerStack and Zoho are SAAS
Mahidra doing well in Australia and US
India brand not seen that much but have significant presence for eg in I. T , pharma, port, mining, refineries, tractor manufacturing india brand might not be visible like Tim Hortons but they are present.
You're just misunderstanding Indian market.
It's all' about appx 65% Indians live in villages.
Means any strategies by foreign companies ( mostly from countries where most population live in cities).
.
*World largest vaccine producer Serum institute of India* 🇮🇳
*Another company is from liquor industry RUM* 🇮🇳
*Another company is TCS and Infosys backbone of IT of Fortune 500 company's* 🇮🇳
*Another Will be UPI* 🇮🇳
*Another Will be Indigo and Air India Cuz Indigo will be largest Airlines operator and Air India World 2nd Largest airlines Operator* 🇮🇳
*Another will Be HDFC* 🇮🇳
*Now it's World 4th largest bank soon it will surpass bank of America and JP Morgan and Become world largest bank*
Brands 90s kids used to think were indian but not indian -- HEROHONDA , PARLE , NESTLE , MAGGIE, BATA , lot BOLLYWOOD movie stories, and such
tetley is owned by tata as well
I think polygon
Zoho has global presence.
Companies like tisco, relince ,adani, Wipro are international brand
Ola reporting has changed a lot on BWM. The prior reporting seemed to be quite negative, but now its very positive. Overall since Etergo designed it for europe, its quite suitable for europe. I think the investment to enter international markets, and regulations can be roadblocks. Tesla also had claimed rapid international expansion , but it took time. Overall, Indian companies love to make wild claims and rarely deliver on schedule. The high speed vahnde bharat train runs at the same speed as the regular trains. Most of the global production of covid vaccine was sold in india, the DRDO 2DG covid treatment drug was widely praised but it never was exported. I read daily about new highways that will link indian cities with very short commute times, yet a trip on any Indian highway with slow moving trucks in all lanes makes this impossible. Just look at the state of the Bangalore metro, and traffic to see how claims vs reality are. I think you need to consider the propensity for exaggerated claims when you stidy indian businesses. Indian companies usually deliver but rarely on time. I expect Ola to do very well. They are well financed, their r&d is done in coventry uk (same as royal Enfield), which is s global ev center. They have delivered an escooter in india that has completely crushed the legacy and new startups in this space as well as the cheap imports. They expanded their sales centers way faster across india than any of the legacy players that limited their sales. The company is focusing on establishing indian market first before jumping into the complicated international space and avoiding doing a Byjus like expansion. Sure they have inherited the indian tendency for over exaggeration but thats very common in india (Tata claims Air India will soon reclaim the leadership in global luxury air travel).
12:27
Bajaj and TVS doing good globally
Simply everything is a cultural thing for this man.
9:14 Right there, it would do you good to not box up indians into one box of conservative spenders.
Culture plays a huge role in business ecosystem success. Same reason why USA is so innovative and globally dominating, and why China is known for copying (Alibaba vs. Amazon, Meituan vs. Groupon, Renren vs. Facebook, Didi vs. Uber). -Caleb
@@backstagewithmillionairescan list so many reasons why USA has innovation and none of those have to do about the civilizational culture. In short, it is directly a function of your per capita GDP and geopolitical factors.
In the end we are all human. We are not a labelled box. Culture can accent the trajectory but rules of the free market remain the same. So, it's pretty disappointing you start with that.
This is a chicken and egg debate. Do GDP and politics come before culture, or does culture influence economies and politics? Culture is the behavior of a specific people group. People = culture. Can't say the same thing about GDP or politics. GDP ≠ people. Geopolitics ≠ people. But they do influence people once they're at play, hence the chicken and the egg. Both are true. Culture leads to economies and politics, and these in turn influence culture.
A people group's behavior is influenced by their environment - access to resources, diet, environmental factors, genetics/DNA, etc. These are the preexisting conditions that influence culture. America is prosperous because the country's geography is advantageous. They're also killers - immigrants came to North America, wiped out the existing population, and then extracted the land's natural resources to get rich - then they did the same thing to other countries. This is a culture of domination and destruction - it's a part of America's identity and culture. This culture led to America's economy being the strongest in the world, and this strength and economic coddling over several generations resulted in a mentally weak society. This new, confused culture will surely have a negative economic impact on itself in the future.
India, from what I've understood, doesn't have the bloodthirsty cultural DNA that early USA did. India hasn't really had the opportunity to express itself in that way as a culture because, as you rightly said, external factors have not allowed it to. "Rules of the free market" have only been a thing in India for ~32 years, which is why we're only now seeing India come into its own as a globally recognized economy. I'm excited to be here in India during this awakening, where dormant ambition and thirst for success is finally something that young people are discovering within themselves, after generations of restraint and oppression. This was there during colonization and socialism, and even more recently with the national obsession over safe, cushy MNC jobs or safe govt. jobs (a necessary step to get India to where it is today economically, but now it is becoming a hindrance to innovative thinking).
Culture is super relevant to the success of a country's businesses. So are external factors like GDP and geopolitics. Both can be understood and appreciated simultaneously. A short video debate spanning dozens of topics isn't a great medium to explore these kinds of nuances, hence the pragmatic generalization, and I don't think anyone thought that I was earnestly trying to say that every one of India's 140 crore people are conservative spenders. -Caleb
@@backstagewithmillionaires You have explained your position, I thank you for that and I agree.
I'll tell you how I interpreted when you said what you said and have said in the past- "indians are an inherently inferior people with no balls to take risks". When you talk about our "culture", you need to use that word carefully, it has a very long history (as you know I'm sure) and lot of identity is attached with it. You could be referring to our संस्कृति or our habits. And I'm sure you consider yourself Indian through and through, but it's going to be tough to remove your assumed birthplace (not India) from what you say. It can easily be misinterpreted as a foreigner talking trash about our "culture".
People with context sure would know or otherwise people might want to give you benefit of the doubt.
If you just put a caveat that "due to India's history etc etc, current major Indian spending habit is conservative", this could have been avoided. It's not that big of a prefix in my opinion.
If you do generalizations, you're open to misinterpretations like these, and on the scale of the internet, that's waiting to happen.
But of course, that's a choice for you to make.
And just a correction, free market hasn't been in india for only the last 32 years, it is what used to exist before colonialism (roughly). So, if you still think Indians have never done this before and it will be a new thing for us, we were a third of the world's GDP, and we will do it again (a realistic equivalent because new lands have been discovered since then creating more competition). We have various Gods of money and prosperity, so those ideals are there, we just have to see what the government of the day deems politically fit because we weren't a democracy at our economic peak.
So let's see what happens. Please continue your good work 👍
Ola is good 1 years no complaints does the job
Mahindra will be successful outside india❤
Backstage with Millionaires won the debate
Best answer 🤩 -Caleb
Mahindra ko AAP kaise bhool sakte hai
Infosys, tcs
Yes, SaaS and IT are very much "build in India for the world" - mainly had consumer brands in mind here, but thank you for pointing this out! -Caleb
You are right, OLA is yet to enter Nepal
Are you based over there? Thought to make a community post asking Nepali viewers to visit Chaudhary Group locations to find out if the website is wrong and they do actually have offline S1 inventory, but didn't want to trouble anyone 😅 -Caleb
Yes, I'm based here. They are yet to launch. Let me know if you want any info from here.
Airtel is a good brand that have been Successful in Foreign countries
I differ, Indians love Technology thats built in to it. Thats more appealing and its more bulky & fast than Ather , Ola is less maintenance to clean than Ather on a rainy day.
Pretty sure No one bought it for looks.
sanju samson is so smart
Imagine ola going global with such problems
..