Indian Q-Com Boom: Retail Disruption or Political Challenge?

Uday Kotak discusses the rise of quick commerce in India, highlighting its challenge to local retailers and potential political implications. He emphasizes the need for Indian businesses to focus on innovation and competitive trade. Kotak warns against protectionism and suggests an increased defence budget to enhance national strength.

Veteran financial services industry leader Uday Kotak highlighted the rise of quick commerce in India, suggesting it poses a significant challenge to local retailers and may evolve into a political issue. Speaking at a CNBC TV18 event, Kotak underscored the importance of competitive and fair trade for Indian businesses.

Kotak praised India's unique success in quick commerce, compared to other parts of the world where the model has struggled. He urged Indian companies to enhance product innovation, noting the nation has yet to produce consumer brands on par with global giants like Apple and Unilever.

The Kotak Mahindra Bank founder cautioned against protectionism in domestic markets, advocating for open trade practices. Additionally, he stressed the importance of a robust defense budget to demonstrate national strength and prepare for potential global economic changes.

(With inputs from agencies.)