Prafull Billore (@Prafull_mbachai) led tea cafe chain MBA Chai Wala is all set to mark its territory in 200 Indian cities by the end of this year, generating over a 1,000 #jobs.
Billore — a son of a farmer — founded MBA Chai Wala as ‘Mr Billore Ahmedabad’ in 2017 after failing to crack #CAT. He wanted to do MBA and work at a multinational corporation, but instead he opened a small ‘thela’ cart outside his dream college IIM Ahmedabad.
“Under my father’s pressure, I also took admission in a local college but I dropped out in 12 days. My father got really upset. But I wanted to create my own identity,” Billore noted. His brother Vivek Billore also joined MBA Chai Wala as a cofounder in 2020.
The company charges ₹20 lakh on an annual basis to sell its franchises. Billore claims that the Ahmedabad #MBAChaiWalaInd outlet earns up to ₹17 lakh a month. Meanwhile, an average MBA Chai Wala outlet employs seven people and a smaller outlet employs roughly five people.
#MBAChaiWalaInd has been focusing on expansion in Northern India so far but it will now also look to expand in the southern part of the country, @Prafull_mbachai told Business Insider India. They also plan to start their own tea-leaf brand.
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India is a trade deficit country, meaning it imports more than it exports — this forces the country to maintain large forex reserves. The ongoing pressure on the #Rupee and its decline against #dollar pushed #RBI to put in place a mechanism to allow international trade in rupees.
Since India is a net importer – with its imports exceeding exports by over $87 billion in 2021-22 – and the value of Indian #Rupee declining consistently, #RBI’s latest decision to allow international trade in rupees is expected to reduce the pressure on India’s forex reserves.
Starting a business is never easy, more so for women. It is hard to find validation and convince people that you mean business.
Movie producer turned interior designer #GauriKhan, who ventured into creating luxurious spaces has not had it easy with her brand Gauri Khan Designs.
In conversation with @BiIndia, #GauriKhan says it is difficult for people to have real faith in you. “There will be a lot of people especially in my field, when they will have faith in you it is because you are married to so & so but on the other hand it's a drawback.” said Khan.
Indian #tech firms have spent $396 billion in US sales output. This supported 1.6 million jobs in total and contributed $198 billion to the US #economy, which is larger than the combined economies of 20 US states in 2021, according to a NASSCOM report.
The sector directly generated $103 billion of revenue in the USA, while employing 207,000 people last year. The Indian tech industry created an average wage of $106,360 for the #employees in the US, according to the report.
#RBI’s efforts to keep the #Rupee stable and cut down the use of the US Dollar – a decades-old habit that most of the world seems unable to shake off – has seen an earnest beginning with the central bank now allowing invoicing of international trade in Rupees.
What is international trade settlement in #Rupees?
When countries import and export goods and services, they have to make payments in a foreign currency. Since the US Dollar is the world’s reserve currency, most of these transactions are entered into US dollars.
The daily #COVID19 tally in India jumped by 24% in the last 24 hours with over 16,900 new cases being reported on July 13 even as #WHO warned that the pandemic was ‘nowhere near over’.
Active cases has surpassed the one lakh mark, comprising 0.3% of the total infections.
Over 45 deaths due to #COVID19 have also been recorded, taking the total tally to 5,25,519. Odisha reported its first Covid death in two months yesterday.
Most of the deaths were recorded in Kerala, which saw 17 deaths, while #Maharashtra & #WestBengal accounted for 13 deaths.
Packaged and branded food items (except frozen) like meat, fish, crud, paneer, honey, dried leguminous vegetables, dried makhana, wheat and other cereals, wheat or meslin flour, jaggery, puffed rice (muri) have been brought under #tax slab under the five percent slab.
Hotel rooms under ₹1,000 per day, which were not taxed earlier will now attract a 12 percent #tax. Non-ICU hospital rooms under ₹5,000 per day, that were exempted from #GST will now be charged with a five percent tax.