India is one of the largest global retail destinations with a market size poised to cross $1.7 trillion by 2025, and the direct-to-consumer (D2C) channels are expected to be worth more than $100 billion by 2025, according to a report by KPMG.
YS’s Brands of New India (BONI) property is working relentlessly to power this growth. Continuing with the momentum set by the Brands of New India Mega Summit earlier this year, the Brands of New India is all set to take its commitment to propelling the country’s D2C landscape forward through Brand Residency 2022.
Brand Residency 2022 commenced today in New Delhi with a keynote address by Shradha Sharma, the Founder and CEO of YS. She welcomed the participants and the attendees by expressing her happiness in meeting them in person post-pandemic. She noted that the pandemic-led lockdowns created the perfect opportunity for D2C brands to grow. Homegrown brands aren’t just targeting the Indian diaspora, but are now making inroads into large retail chains and ecommerce marketplaces across the world, she said.
The founder also stressed on the significance of the Brand Residency 2022 event, which will give the entrepreneurs an opportunity to know more about the high potential, undiscovered brands from across the country.
Shradha Sharma, Founder and CEO of YS.
The chief guest of the first day of the event was Mr. Anil Agrawal, Additional Secretary, Department of Industry and Internal Trade (DPIIT) who talked about ONDC (Open Network for Digital Commerce).
Stressing on the need for more inclusive ecommerce networks, Mr. Agrawal said platforms like ONDC will help small vendors or kirane ki dukaan tap into the massive ecommerce opportunity in India.
Mr. Agrawal said that, in the future, anybody selling a product or service can make his or her catalogues visible in this common network (ONDC), either by themselves or through a third-party aggregator or a technology service provider.
In conclusion, Mr. Agrawal said that India today is a growing economy and has a huge hub of innovative minds. Platforms like ONDC will accommodate players from different sectors and help democratise the space.
The Brand Residency 2022 is taking place in New Delhi on September 9-10. Join us to celebrate the success of Indian brands.
