Rise Of Quick Commerce A Challenge To Retailers: Uday Kotak

Kotak Mahindra Bank founder and financial services veteran Uday Kotak has said that the successful rise of quick commerce trade poses a challenge to retailers and will become a political issue. 

Kotak, during an event hosted by CNBC TV18, highlighted these implications at a time when a company like Swiggy has not only made its public debut but also defied the broader slump in the Indian benchmark index.

However, Kotak also acknowledged that India is a unique country in the world where quick service retail has succeeded, which is unlike in most other parts of the world. 

He mentioned this as a positive sign of Indian innovation and value creation that is real and sustainable.

Meanwhile, he also urged Indian businesses to prioritise focusing on product and creativity to make the list of globally recognised consumer brands like Apple, Meta, or Unilever. 

Kotak also pointed out the need for Indian businesses to become more competitive in a “free and fair trade”.

The founder also expressed a lack of optimism for Bitcoin saying he is “not excited by it,”. 

This remark comes despite bitcoin rallying to fresh highs with its market capitalisation hitting over $1.7 Tn, after pro-crypto Donald Trump emerged victorious in the US presidential elections.