6 type of returns

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Economy & Finance

T Y P E S O F R E T U R N S
H O L D I N G P E R I O D R E T U R N
6
1 ((End Value – Beginning Value)/ Beginning Value) x 100%
C O M P O U N D E D A N N U A L G R O W T H R A T E ( C A G R )
3 ((End Value / Benginning Value) ^(1/Number of Years))-1
or
((End Value / Benginning Value) ^(365/Number of
days))-1
T O T A L R E T U R N
4 Internal Rate of Return (IRR) can be used.
R E A L R E T U R N
5 ((1+ Nominal Return) / ( 1+ Inflation rate)) – 1
A F T E R - T A X R E T U R N
6 Before Tax Return x ( 1- Marginal Tax Rate)
A N N U A L I S E D R E T U R N
2 (End value - Beginning value)/Beginning value) x 100% x
(365/ holding period of investment in days)

More from Sam Ghosh

COVID-19 is a humanitarian crisis as such the world has not seen for generations. For the consumers, it is a shock of unprecedented proportions. Consumer behavior in many sectors is going to change in the post-COVID era. Evidence shows that consumers have become more home-bound, digitally adopted, health-conscious, and community-driven. While it is true that many industries suffered great losses and likely to struggle for years, opportunities are also emerging especially for emerging tech. The pandemic has accelerated the shift to eCommerce and delivery services. Not only existing categories and consumer segments experienced a boost - new products and consumer segments found their way to eCommerce and delivery. As people are likely to continue spending more time at home, these sectors likely to see long-term growth. The retail subscription business also got a boost from the pandemic. The growth is driven by daily essentials. Hyper-local commerce, Social Commerce and Group-Buying are getting a stronghold as consumers are becoming more and more community-oriented. Subscription Video on Demand (SVoD) services saw accelerated growth in both the number of subscribers and viewing time-span. The idea of entertainment is evolving supporting the SVoD sector for the long term. The messaging apps saw significant growth due to the pandemic. Techcrunch reports that “WhatsApp has seen a 40% increase in usage that grew from an initial 27% bump in the earlier days of the pandemic to 41% in the mid-phase. For countries already in the later phase of the pandemic, WhatsApp usage has jumped by 51%”. As people were forced to stay at home - entertainment also shifted indoors. COVID worked as a boon to the Video Gaming and Esports industry. COVID-19 has accelerated digital adoption in healthcare. Indian health platform Practo saw a 600% increase in online consultation between March and August 2020. As COVID-19 forced the Gyms and similar facilities to remain closed, people quickly adopted to use fitness apps, streaming services, wearables, and connected devices. As making time for visits to the gym was inconvenient even before the pandemic, this change of behavior i.e. fitness at home likely to stay in the long term. Social distancing forced people to buy pharmaceuticals online boosting the growth of online pharma. At the same time, sales of supplements increased significantly as people focused on boosting their immunity. It is expected that small towns and rural areas are likely to lead the recovery creating opportunities for Agritech and Vernacular Tech.

Impact of COVID-19 on Global Consumers and Emerging Opportunities

Sam Ghosh

There were around 30 million Small and Medium Size Enterprises (SMEs) in the developing countries before the pandemic. 2/3rd of global SMEs were located in developing countries. Developing countries with top SME populations are China, Thailand, Bangladesh, Indonesia, Tanzania, India, and Brazil, etc. Most of these SMEs in the developing countries are in the informal sector lacking formal financing options and proper business processes. The pandemic has tested these SMEs to the extreme damaging their existing sales channels, supply chain, and financing sources. Governments in the developing countries (ex. China) pushing the SMEs for digital adoption to deal with revenue losses amid social distancing. This policy support can be very beneficial for startups in the sector. COVID-19 pandemic has accelerated digital adoption in developing countries as consumers are forced to adopt digital channels for services such as education, healthcare, and grocery, etc. At the same time, small businesses are adopting digital channels for survival. This creates a unique opportunity for tech startups serving small businesses in developing countries. The major problems that the small businesses are facing are revenue losses, operating challenges due to social distancing, lack of credit access, supply-side issues such as labour shortages, raw material access, etc. Tech startups can tap into the market by providing solutions to these pain points - sales platforms to deal with revenue losses, process automation to deal with operating challenges, alternative lending to deal with lack of credit access, HR management technologies to deal with the labour shortages, etc. Small businesses often do not have defined operating processes. Changing customer preferences for digital modes require that small businesses also define their internal processes. The tech companies in this sector need to hand-hold small businesses by helping them design internal processes. Process automation companies are likely to benefit from this. Often small businesses are dependent on one or few key people. As the pandemic brought drastic changes to our daily lives, the human aspect of the pandemic cannot be ignored. For example, many female entrepreneurs experienced the increased daily burden of homeschooling their children as the schools were closed. This kind of aspect brings unique opportunities for tech companies to design products for the sector.

SME Fintech Opportunity in the Developing Countries

Sam Ghosh

As per the Credit Suisse Global Wealth Report 2020, global wealth stood at US$ 399 trillion as of the end of 2019. Most of the global wealth is primarily controlled by older men in North America and Europe. As per BCG, the Asset Under Management (AuM) for the global asset management industry stood at US$88.7 trillion as of the end of 2019. The pandemic found the wealth management industry dealing with margin pressure amid the popularity of passive products, on the verge of a great wealth transfer from the Baby Boomers to the younger generations, a rising share of women’s wealth, and increasing regulatory pressure. Revenue from beta is quickly diminishing due to the popularity of passive products. The focus is shifting from margin to increasing AUM. As per Credit Suisse Global Wealth Report 2020, global wealth decreased by US$ 17 trillion between January and March of 2020. Recovery in the capital markets Q2 onwards led to the recovery of household wealth in Q2 to the levels of the end of 2019. Though the loss of growth represents a more than US$7 trillion loss from expected wealth levels by the end of the first half of 2020. Lower economic activity, lower consumption, and lower investments by both households and corporates likely to restrain household wealth growth for many coming years. The growth rate may not recover to pre-pandemic levels before the end of 2021. Global wealth per adult decreased by 0.4% in the first half of 2020. China is the biggest gainer and Latin America along with Africa are the greatest losers. Though low-interest-rate environment, making time deposits less attractive, likely to boost funds flows to capital markets and demand for wealth management services. At the same time, social distancing is forcing digital adoption in wealth management. Apart from that, the great wealth transfer will mean that the wealth management sector needs a paradigm shift in their client engagements. The expectations of tech-savvy millennials are very much different from the older generations. Instant gratification, higher involvement in the process, and constant monitoring are some of the features Millennials expect. Micro-Investment platforms and Online Brokers are expected to be immensely beneficial as tech-savvy Millennials control more and more wealth. Self-service platforms that specialize in passive products (MF, ETF) are especially lucrative. Hybrid services that combine human touch with tech efficiency will likely to become mainstream as wealth management firms push for cost-cutting and younger generations control more and more wealth. As many traditional wealth management firms will look to increase their digital capabilities, WealthTech firms with proven business models are expected to be seen as attractive acquisition targets.

Global WealthTech amid COVID-19

Sam Ghosh

Before the pandemic, themes that were driving technology demand in the capital markets were regulatory compliance and cost-cutting. Technologies in demand in the capital markets in recent years were Big Data, AI/ML, Blockchain, and Cloud Computing. Even amid the global economic gloom, the capital markets were not uneventful. As per S&P Global, the global bond issuance is expected to be 16% higher in 2020 compared to 2019 amid record-low interest rates and markets flooded with liquidity. As per data from the World Federation of Exchanges, the value of share trading globally registered a 49.74% increase in H1 of 2020 compared with H2 of 2019. Exchange-traded derivatives volumes were up 23.4% when compared with H2 2019, reaching a record 21.72 billion contracts traded. Cost pressures, exacerbated by COVID-19, likely to accelerate automation initiatives as banks cut headcounts rapidly. Technology implementations due to compliance requirements such as the Second Markets in Financial Instruments Directive (MiFID2) and the Fundamental Review of the Trading Book (FRTB) likely to be sources of demand for companies providing technology to the capital market sector. The companies providing automation of compliance processes are already attracting a higher amount of venture funds. Technology providers focusing on Data Analytics, AI/ML, IaaS and Biometrics, etc. are expected to gain from the trends. Another important factor is the rapid adoption of work-from-home culture. A significant portion of the firms may opt for a permanent work-from-home or a hybrid work culture. This shift is likely to increase demand for cloud transformation services. Even though many financial services firms may cut IT spending for a few quarters, compliance automation, cost-cutting initiatives, and cloud transformations will continue to create demand for capital market technology providers.

Emerging Tech for Capital Markets (B2B)

Sam Ghosh

Think about Google if it were only collecting a lot of data but never used or shared that data with anyone. That is how the traditional financial service companies are - they have enormous amounts of data but rarely use that data for any tangible purpose. Dormant data with the financial service providers can be used to not only create new applications but revolutionize credit markets, personal finance, business finance, wealth management, etc. in ways we cannot even totally envisage now. Open Banking is a practice where banks provide access to consumer data to non-affiliated third parties generally through Application Programming Interfaces or APIs. Open Banking in the coming years is expected to lead a paradigm shift in Banking and Finance. During the pandemic, the demand side of the equation for Open Banking is rapidly developing with growth in fintech markets and the adoption of digital channels by the consumers. Both banks and tech companies have immense incentives to grab this opportunity and quickly tap the growth in digital markets and channels. Concerns about data security, compliance with privacy laws, and regulatory uncertainties are acting as impediments to the growth of Open Banking. Banks need to act quickly to leverage data to increase their reach and role. Traditional banking is rapidly getting commoditized and banks need to add data-driven value-added services in their portfolio to remain relevant. Value-added services such as personal financial planning, the alternative credit assessment, and real-time payments can not only create new revenue sources for the banks but provide strategic moats in the competitive landscape. Banks can achieve this through strategic partnerships and acquisitions. In-house development is difficult given the cultural shift needed in the banking sector may take time. Apart from that, the IT in the banking sector is generally focussed on regulatory requirements and not data-driven, customer-focused as required for Open Banking initiatives. Policy uncertainty can severely hamper the growth of Open Banking. Policymakers need to balance caution on security-privacy matters but at the same time clear policy confusion to allow the sector to grow. As per the Akamai report, “2020 State of the Internet / Security: Financial Services – Hostile Takeover Attempts”, cyber attackers are increasingly targeting API endpoints of financial services. As per a Gartner report, by 2021, APIs will account for 90% of the attack surface. By 2022, according to Gartner, API abuses will become the most-frequent attack vector. This is a cause of concern for the Banks contemplating opening up data access using APIs.

The Emergence of Open Banking and COVID-19

Sam Ghosh

Alternative Lending emerged to provide credit access to individuals and businesses who lack credit history or in other words - the ‘thin file’ borrowers. The primary segments of Alternative Lending are Consumer Finance and Small and Medium-Sized Business Finance. The COVID-19 pandemic is causing most economies to shrink in 2020 causing enormous job losses, revenue losses for businesses, and in some cases business closures. Consumer spending took a significant hit due to the pandemic. As per data from the National Bureau of Statistics of China, Retail Sales of Consumer Goods contracted by 20.5% in January-February 2020 compared to January-February 2019. The growth remained in the negative territory for the first two quarters of 2020. Data from VISA and Mastercard show a drastic drop in credit-card debt use. Demand for household short-term credit is still subdued. As unemployment rates improve and retail sales pick up the pace, demand for consumer finance is expected to improve in the coming quarters. Many SMBs are going through severe financial distress primarily due to lower demand and lack of access to credit. Many may not recover and close their businesses. Lack of demand may hinder the SMBs from accessing and/or getting approval of business loans. On the supply side, the alternative lending companies may struggle to access low-cost capital due to deteriorating balance sheets of the banks and NBFCs who likely to increase risk-premium and even avoid exposure to the high-yield segments. Increasing bad loans may push policymakers to put safeguards in place which may lower profitability and limit access to capital for the alternative lenders. For example, China's Supreme Court slashed the legally protected ceiling of informal lending rate in August 2020. This is expected to unfavorably impact the profitability of alternative lenders. Established fintech (Square, PayPal, etc.) are entering the lending business, and as credit demand improves we may see more of this trend. Many large retailers such as Amazon, Macy’s, etc. partnered with financial services companies to extend consumer credit to their customers. We may expect to see acquisitions of fintech lenders by the retailers. Stressed balance sheet likely to increase M&A activities in the sector.

Global Alternative Lending Industry amid COVID-19

Sam Ghosh

Indian economy entered a technical recession with two consecutive quarters of GDP contraction in Q2 of FY 2020-21. Results released by the National Statistical Office shows that the GDP of India during the H1 of FY 2020-21 contracted by 15.7% at Constant (2011-12) Prices and 13.3% at Current Prices. While quarterly GDP in Q2 FY 2020-21 in rupee terms improved from Q1 FY 2020-21 by 23% at Constant Prices and 24% at Current Prices, it is still 7.5% and 4% lower than Q2 of FY 2019-20 at Constant and Current Prices respectively. The contraction was caused by a drastic drop in private consumption (which contributes around 60% of Indian GDP) and a drop in gross fixed capital formation. The policy repo rate has been reduced by 115 basis points from the beginning of 2020 to record low levels. Apart from that, RBI is injecting liquidity through various Open Market Operations and Long Term Repo Operations. Currency with the public increased by ~20% from the end of 2019 to the end of October 2020. We can safely say that the Indian economy is flushed with liquidity. Consumer inflation remains above the policy range of 4%+2%, and with a GDP contraction, the Indian economy is dealing with stagflation. On the fiscal front, total monthly receipts remained lower than the same period last year for the whole Q1 and Q2 (April - September) FY 2020-21. October receipts show signs of improvement. Fiscal expenditure on the other hand was maintained at the same levels of FY 2019-20 in FY 2020-21 till October. The fiscal deficit stood at 119.7% of the Budget Estimates as of October 2020 due to lower receipts. Credit growth remains sluggish especially due to lower credit uptake by the industry. Credit demand for smaller companies was low from the beginning of fiscal 2020-21 which improved after August. Credit uptake by the large corporates dropped after July 2020. Household savings increased dramatically from Rs.5.32 lakh crores in Q4 of FY 2019-20 to Rs. 8.16 lakh crores in Q1 of FY 2020-21 - a more than 50% increase. Most of the increase in household savings resulted from an aversion to liabilities. It signifies that the households turned conservative about their finances to deal with impending financial distress. The unemployment rate shot-up in April and May 2020 above 20% and moderated to below 10% levels after June 2020. Employees' Provident Fund records show healthy job creation in September 2020.......

Impact of COVID-19 on Indian Economy: 28th November 2020

Sam Ghosh

The COVID-19 pandemic has caused a drastic decline in economic activity worldwide. This decline of economic activity affected the digital payment industry as well. Data from VISA and Mastercard show that payment volume decreased by ~20% in the April-June 2020 quarter from the Oct-Dec 2019 quarter. The July-September 2020 quarter saw a slight recovery but the volumes were still lower than the Oct-Dec 2019 quarter. Debit payments seem to recover quicker than credit payments, especially in the US. Cross-border transactions were severely affected due to lower trade volumes and international travel restrictions. This resulted in a drastic drop in cross-border transaction revenue for both VISA and Mastercard. Though the payment companies are facing revenue pain in the short term, long-term prospects are brighter. The pandemic has quickened the adoption of digital payments across age groups. Adoption of digital payments by the elderly population is especially encouraging and can open up new business opportunities. Big-Tech companies are also rapidly increasing their foothold in the payments industry through acquisitions, patents, and partnerships. New technologies such as contactless payment and real-time payment also got a boost due to the pandemic. Governments around the world encouraged residents to use digital payment systems as the pandemic emerged. In some cases, restrictions were placed on cash withdrawals and cash transactions. Fee waivers, compliance relaxations, consumer protection, etc, measures were taken to boost digital payments. In India, the Reserve Bank of India has introduced a framework for the recognition of a Self-Regulatory Organisation for Payment System Operators.

Global Digital Payment Industry amid COVID-19

Sam Ghosh

$1.5 Trillion - that was the size of the Global cybercrime market in 2018. In comparison, the Indian GDP in the same year was US$2.7 trillion. The Dark web activity has spiked over 300% since 2017. As per NortonLifeLock Cyber Safety Insights Report, 2019, globally 350 million consumers became the victim of cybercrime only in one year. Back in India, the rapid growth of data-driven tech companies prompted the lawmakers to enact a legal framework for cybersecurity, especially around financial services. These legal requirements have driven the Indian Cybersecurity industry. Just when the COVID-19 lockdowns started, cyber-attacks also surged. Between March and April 2020, India has witnessed a staggering 86% increase in cyber-attacks. Due to social distancing, many industries are rapidly getting digitised almost in a haphazard manner, bringing more and more critical data online. This is creating a fertile ground for cybercrime. The pandemic is bringing unique challenges for both enterprises and individuals in terms of protecting their sensitive data from cyber-attacks. People who never shopped online are now shopping online, people who shopped online before are shopping for things online which they never shopped online. The rapid growth of e-payments is bringing unique challenges not only in terms of payment security but also privacy and fake/illegal eCommerce sites. The IT spending is expected to be lower this year but companies are prioritising security spending with spending on cloud and collaboration. The medium to long-term prospects for the cyber-security industry looks promising given the rapid digitisation of digitally naive industries, increasing access to enterprise systems from mobile devices, migration of critical processes to the cloud systems, and increasing online transactions, etc. Apart from that, as many small and medium-sized businesses are forced to adapt to the increasingly digital world, demand for cyber-security products/platforms is expected to increase as many smaller businesses may not have the resources to avail security consulting services.

Emerging Cyber Security Opportunity in India

Sam Ghosh

As per a recent NASSCOM report, India is the birthplace of more than one thousand pure-play SaaS vendors with 150+ companies generating more than US$1 million Annual Recurring Revenue. There are already at least 6 SaaS unicorns. These companies generated ~US$3.5 billion in revenue in FY20. As per the same report by NASSCOM, the addressable SaaS market by 2025 is expected to be US$400 billion. Indian players are well positions to tap this opportunity with their lower cost structure, competency in online & inside-sales, large workforce proficient in SaaS and mobile application development, and role models such as Zoho, Freshworks, Icertis, Druva, and Postman. With the growth of work-from-home culture and rapid digitisation, the future of the SaaS sector looks bright especially for companies offering collaboration and security services. Prospect of rapid digitisation of the Indian MSME sector likely to help Indian SaaS companies grow their domestic revenue base along with the export market on which the SaaS sector is traditionally dependent. Although many SaaS companies may face short-term challenges due to lower IT spending by corporates. As per a Gartner report, Global IT spending in the year 2020 is expected to be 8% lesser than in 2019. Vertical SaaS companies focused on sectors such as Travel, Hospitality, Restaurants, etc. may face considerable challenges due to the pandemic. As investor focus changes from “growth at all cost” to sustainability and profitability, SaaS offers business models with a clear path to profitability. As Zoho’s Sridhar Vembu suggests, the pandemic may cause the SaaS industry consolidation as SaaS businesses driven by venture capital money may face challenges in raising further funds and their customers tighten their wallets.

The SaaS Opportunity and Indian SaaS Industry

Sam Ghosh

Given considerable ambiguity around changing economic and industrial landscapes, most VCs may refrain from investment in companies other than their own portfolio companies. As many sectors are being disrupted significantly by the pandemic, many portfolio companies may need funding just to keep afloat. Given India focused VCs ended 2019 with a record amount of dry powder, they are positioned well to increase their stake in existing portfolio companies through additional equity infusion at attractive valuations. Early-stage companies will have a hard time raising funds in the coming few quarters as VCs likely to prioritise strengthening their own portfolio companies and companies with proven product-market-fit and revenue models. At the same time, late-stage startups may reap the benefits of their user base and move to develop revenue sources. Investment instruments and terms may become more and more conservative both in terms of economics and control. We can expect stricter liquidity preferences, stricter vesting schedules, and protective provisions. Venture debt is becoming popular as startups try to avoid dilution at unfavourable prices and terms. The current situation creates unfavourable circumstances for VC exits. Venture Funds may like to delay exits if possible to avoid selling at deeply discounted valuations. This may result in a longer holding period and thus lower IRR. Funds at the tail end of their lives may be forced to offer exits to their limited partners (LPs). This may lead to underperformance and/or increased sales by the LPs to secondary funds. The pandemic has caused rapid digitisation of various sectors. Established offline players may look for acquisition to grow their digital capabilities. This may bring strategic deal opportunities for digital startups and exit opportunities for VC firms. Fundraising activity is expected to be slow in the coming quarters given fund managers may want to limit their exposure to risky investments in the current economic scenario. The pandemic has caused and going to cause a correction in various asset prices from public equity, real estate, and commodities. Restructuring of portfolios likely to further discourage fund managers from investing in venture funds. In this tough fundraising scenario, tried and tested fund managers will have a significant advantage over new fund managers.

Impact of COVID-19 on Indian Venture Capital Industry

Sam Ghosh

India is the world leader in IT and BPM services accounting for ~55% of the global services sourcing business. As per a Gartner report, the global IT spending in 2020 is expected to be 8% less than in 2019. Not only that, the technology demand mix is going to be very different in the post-pandemic world than in the pre-pandemic era. The industry which is primarily dependent on export markets is being tested by travel and VISA restrictions. This brings a lot of operational challenges for the IT Service companies. The IT service majors are adopting cloud-based operating models that require the lesser physical presence of IT professionals, enhances the security of the cloud, and enable collaboration online. As the recovery timeline for different countries and industries are likely to vary significantly, the IT service companies need to dynamically organise infrastructure and human resources to defend and acquire revenue opportunities. In general, demand for Security, Collaboration, Mobility, and Cloud applications is going to drive the demand in the coming quarters. Need for a low-touch operating model, need for hiring local talents, dynamic restructuring of human capital, etc. favour the large diversified IT Service companies over smaller players in the post-pandemic world.

Impact of COVID-19 on Indian IT and BPM Sector

Sam Ghosh

FMCG or Fast Moving Consumer Goods are products that have a short shelf life and sold quickly at a relatively low cost. These are the products which are used by consumers in their daily life, for example, bread, meat, dairy products, soft drinks, etc. FMCG sector is the fourth largest sector in the Indian economy. Another importance of this sector is that the health of the sector works as a quick indication of consumer sentiment and changing consumer preferences. The impact of the pandemic on the sector varied by product categories. For example, Healthcare and Homecare sectors performed well while Grooming and Beverage were negatively impacted. As the effects of the lockdowns subside, most categories show signs of recovery but the pandemic is leaving some systemic changes. Similar to many sectors, the pandemic has quickened the speed of online sales. At the same time, opened up some novel distribution channels - food delivery apps and ride-sharing apps are being used for FMCG distribution. If we talk about consumer sentiment, the consumers have become extremely value-oriented as evidenced by picking value packs over bulk packages. As the consumers may be looking for ways to cut costs while maintaining quality of living, previously impulsive purchases may convert to discretionary. Packaging these impulsive purchase products with essential products may help in preserving the product categories.

Impact of COVID-19 on Indian FMCG Sector

Sam Ghosh

The Micro, Small, and Medium-sized businesses or the MSME sector contribute around ⅓ of the Indian GVA and half of the total exports. Despite the great significance to the Indian economy, the sector deals with a lot of issues including lack of credit availability, low technology penetration, and cash-flow issues often created by their lower negotiating power dealing with the formal sector businesses. The pandemic not only restricted revenue sources for many of the MSMEs but also created issues with credit availability, labour availability, transportation, and cash-flow. The government of India has taken various measures to increase credit availability to the sector - from changing the definitions of MSMEs to credit guarantee schemes. Although, the availability of credit may not be the silver bullet for the sector as the low credit uptake may be the result of low demand for credit.

Impact of COVID-19 on Indian MSME Sector: 16th September 2020

Sam Ghosh

Podcast Link: https://www.buzzsprout.com/1339501/5359456-impact-of-covid-19-on-indian-economy-9th-september-2020.mp3?blob_id=21713947&download=true Results released by the National Statistical Office shows that the GDP of India contracted by 23.9% at Constant (2011-12) Prices and 22.6% at current prices during the Q1 of FY 2020-21. Gross Fixed Capital Formation decreased by ~50% from March to June 2020. This is really alarming. While the figures are alarming, let us keep perspective. The contraction in the economy was not spontaneous but due to a forced shut down of the economy. While the economic pain is far from over, improvements in IIP and manufacturing PMI figures give us some optimism. Q1 Industrial Outlook Survey shows mixed expectations for Q2 but a positive overall business sentiment We need to keep in mind that while some sectors may pick up growth spontaneously after the lockdowns are completely lifted, other sectors may need considerable policy hand-holding. Medium and small size companies need special attention as they may struggle to get the policy benefits as reflected by drastically different credit uptake by companies of different sizes. We can be cautiously optimistic that the economy improves rapidly in the coming quarters but the fear of a fresh wave of infection still looms.

Impact of COVID-19 on Indian Economy: 9th September 2020

Sam Ghosh

According to a JLL report, sales of residential units decreased by 29% in Q1 2020 over the same period last year. Net absorption of office spaces in Q1 2020 witnessed a decline of 30% from the peak observed in Q1 2019. The real estate industry Is dealing with distress in the short term without any doubt. Long term prospects are quite mixed though. Young professionals are likely to avoid shared accommodations in the aftermath of COVID and prefer either owning or renting/leasing private accommodations. A lower interest rate environment creates a favourable environment. Although financial uncertainties may stop them from committing to debt payments. Well designed package of flexible financing, leasing, and payment options may help residential real estate players grow in spite of economic slump. For commercial real estate players, work from home culture and subdued business sentiment draw a bleak picture. The focus should be on maintaining occupancy and alternative use of assets. Social distancing, economic distress, and rapid growth of e-commerce may affect long term prospects for retail real estate. Retail real estate players need to adapt to changes in demand. For example, cloud kitchens in place of sit-down restaurants and high-street shops in place of malls. A lingering fear of infection, work from home culture, etc. may cause medium-term depression in both business and leisure travel. This will result in depressed demand for the hospitality sector for a few quarters. Hospitality real estate players need to find an alternative use for their assets if the hospitality demand does not pick up and operators start going out of business.

Impact of COVID19 on Real Estate in India

Sam Ghosh

Just before the COVID 19 lockdowns started, the Indian FinTech ecosystem toped their Chinese counterparts in fetching funding first time in history. As the pandemic gripped the economy, the FinTech companies are now at a product launch spree from health insurance to affordable loans for consumers and MSMEs. Increase digital adoption is causing rapid growth for the sector. For example, as offline channels for financial services got restricted by the lockdowns and fear of infection, InsurTech and Online Brokerages are becoming the primary channel for the distribution of financial products. But, all is not hunky-dory. The looming recession is expected to take a toll on some sub-sectors. For example, Alternative Lending companies especially involved in Retail Lending may face a tough test for their business models and algorithms used by them as many of them may start to face increased defaults. Let us look into the details.

Impact of Covid-19 on FinTech in India

Sam Ghosh

Uber shuts down its Mumbai office, lays off 600 workers. Ola lays off 1400 workers. Bounce lays off 130 (22% of total strength) workers. The headlines related to the startups who bet on transforming Urban Mobility in India were scary as the COVID-19 lockdowns hit. But, this is not just a long term phenomenon. A preliminary analysis shows there can be a reversal of many trends in urban mobility. The pandemic is making Ownership attractive over Usership again for urban youth - it can be of new vehicles or used ones. While shared mobility services are required to look for new strategies, vehicle manufacturers get another opportunity to lure the utility-driven urban youth. Let us understand these interesting turn of events

Impact of Covid-19 on Indian Urban Mobility

Sam Ghosh

The Biotech industry is playing a major role in dealing with the COVID-19 pandemic. Already, at least two Indian companies are moving forward with the human trial of COVID-19 vaccines and developing various other solutions to deal with the pandemic. The pandemic has also helped various Biotech startups secure funding. More importantly, the pandemic has brought the sector under the VC radar. The increasing emphasis on healthy living, hygiene, and concern about preparedness for infectious diseases will act as growth drivers for this sector.

Biotech in India

Sam Ghosh

As per the World Travel and Tourism Council, global international arrivals may see a drop of up to 73%, and domestic arrivals drop up to 64% in the year 2020 due to the pandemic. This means a significantly difficult year for the hotel industry. In India, industry-wide RevPAR of the hotel industry may drop by 50% in fiscal 2020-21 as per ICRA. ICRA warns of serious credit distress in the hotel industry. Apart from economic shock, the pandemic may bring long-term changes in consumer preferences which may tilt towards hygiene and safety over price. The industry may be forced to adapt automation and this may act as a window of opportunity for contact-less services such as shelf check-in kiosks, and online check-ins, etc. It is quite difficult to predict the future of this industry but the post-COVID hotel industry will look very different from the pre-COVID one.

Indian Hotel Industry

Sam Ghosh

More from Sam Ghosh (20)

Impact of COVID-19 on Global Consumers and Emerging Opportunities

SME Fintech Opportunity in the Developing Countries

Global WealthTech amid COVID-19

Emerging Tech for Capital Markets (B2B)

The Emergence of Open Banking and COVID-19

Global Alternative Lending Industry amid COVID-19

Impact of COVID-19 on Indian Economy: 28th November 2020

Global Digital Payment Industry amid COVID-19

Emerging Cyber Security Opportunity in India

The SaaS Opportunity and Indian SaaS Industry

Impact of COVID-19 on Indian Venture Capital Industry

Impact of COVID-19 on Indian IT and BPM Sector

Impact of COVID-19 on Indian FMCG Sector

Impact of COVID-19 on Indian MSME Sector: 16th September 2020

Impact of COVID-19 on Indian Economy: 9th September 2020

Impact of COVID19 on Real Estate in India

Impact of Covid-19 on FinTech in India

Impact of Covid-19 on Indian Urban Mobility

Biotech in India

Indian Hotel Industry

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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet. Right now the only way to sell pi coins is by trading with a verified merchant. What is a pi merchant? A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services. Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners. I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully Tele-gram @Pi_vendor_247

how to sell pi coins on Binance exchange

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Discover how Juspay doubled its revenue to INR 213.3 crore and revolutionized digital payments in India. Explore the startup's journey, from its inception in 2012 to becoming a leading player in the fintech sector. Learn about Juspay's innovative products like JUSPAY Safe and BHIM app, its impressive performance with 100 million transactions per day, and strategic acquisitions such as LotusPay. Dive into Juspay's funding rounds, expenses, and future outlook, and understand why it's poised for continued success in India's digital payment landscape.

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how can I sell/buy bulk pi coins securely

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Henry Tapper

Yes. Selling pi coins in Indonesia is the same as selling pi coins in any other country. Because there is only one way selling pi coins is possible. And this is through pi vendors or merchants Who is a pi vendor. A pi vendor is someone who buys and sell pi coins to investors looking forward to hold pi till mainnet launch. I will leave the whatsapp contact of my personal pi vendor here, highly recommendable @Pi_vendor_247

How can I sell my pi coins in Indonesia?

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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.

Falcon Invoice Discounting: Optimizing Returns with Minimal Risk

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Can a Pi network coin ever be sold out: I am ready to sell mine.

DOT TECH

how can I transfer pi coins to someone in a different country.

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Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors. **Key Sections Covered:** 1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity. 2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses. 3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification. 4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries. 5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content. 6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness. 7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth. This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment. Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers. **Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.

Latino Buying Power - May 2024 Presentation for Latino Caucus

Danay Escanaverino

The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant. Who is a pi merchant? A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026. I will leave the telegram contact of my personal pi merchant to trade pi coins with. @Pi_vendor_247

what is the best method to sell pi coins in 2024

DOT TECH

If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch. Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners. Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant, i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully. @Pi_vendor_247

how can i use my minded pi coins I need some funds.

DOT TECH

Even tho. Pi is not launched yet on any exchange worldwide. You can easily sell your mined pi coins for cash or other cryptocurrencies, Through verified vendors/merchants Who is a pi vendor? A pi vendor is a person, that buys pi coins from miners and resell them to Investors interested in holding pi coins till mainnet launch in 2026… I will leave the whatsapp contact of my personal pi vendor. Highly recommendable………… @Pi_vendor_247 #pi network #pi coins #money

how can I sell my mined pi coins profitabily.

DOT TECH

Where can I sell my pi coins at a high rate. Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch. This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below. A vendor is someone who buys from a miner and resell it to a holder or crypto whale. Here is the telegram contact of my vendor: @Pi_vendor_247

how to sell pi coins at high rate quickly.

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The new type of smart, sustainable entrepreneurship and the next day | Europe...

Antonis Zairis

If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch. Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners. Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant, i will leave the telegram contact of my personal pi merchant below. 👇i have traded more than 3,000 pi coins successfully with him. @Pi_vendor_247 Thanks for reading 🙏

how can i make money selling pi coins in 2024

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how can i make money selling pi coins in 2024

6 type of returns

1. T Y P E S O F R E T U R N S H O L D I N G P E R I O D R E T U R N 6 1 ((End Value – Beginning Value)/ Beginning Value) x 100% C O M P O U N D E D A N N U A L G R O W T H R A T E ( C A G R ) 3 ((End Value / Benginning Value) ^(1/Number of Years))-1 or ((End Value / Benginning Value) ^(365/Number of days))-1 T O T A L R E T U R N 4 Internal Rate of Return (IRR) can be used. R E A L R E T U R N 5 ((1+ Nominal Return) / ( 1+ Inflation rate)) – 1 A F T E R - T A X R E T U R N 6 Before Tax Return x ( 1- Marginal Tax Rate) A N N U A L I S E D R E T U R N 2 (End value - Beginning value)/Beginning value) x 100% x (365/ holding period of investment in days)

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