
Uber partners with Nike as official ride partner for After Dark Tour in Mumbai
Uber has partnered with Nike as the official ride partner for the first-ever After Dark Tour (ADT) in Mumbai — a night-time 10K run that aims to celebrate and empower women runners. The event, set to be one of the largest of its kind in India, reflects a shared commitment to making late-evening activities safer and more accessible, especially for women.
The collaboration is driven by the insight that many women remain cautious about stepping out after dark due to safety concerns. A consumer survey by Uber revealed that 85 per cent of women in Indian metros have cancelled or altered plans at night over concerns about transport or safety.
As the official ride partner, Uber will provide reliable transportation options for ADT participants, supporting travel to the venue and back home after the post-run gathering. Survey data also highlighted that 79 per cent of women feel safer using ride-hailing services at night compared to other forms of transport, and 94 per cent of Uber users agree that such platforms enable more spontaneous night-time decisions.
'Women shouldn't have to plan their lives around safety concerns — they should feel empowered to step out whenever they choose,' said
Shiva Shailendran
, Director, Consumer & Growth, Uber India and South Asia. 'Our partnership with Nike aims to help make the night feel accessible again.'
Tarundeep Singh
, GM, Nike India, added, 'The After Dark Tour is about connection, celebration and confidence. Our partnership with Uber ensures women runners can focus on the race, not the commute.'
According to Uber's data, key safety features such as live GPS tracking (cited by 70.8 per cent of respondents), emergency button access, and verified driver profiles contribute to a greater sense of security for women. Uber also highlighted findings from an Oxford Economics study showing that ride-hailing has enabled 4 in 10 working women to enter the workforce, with 75 per cent citing safety as a key reason.

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Economic Times
11 minutes ago
- Economic Times
Chennai-based Lalithaa Jewellery Mart files DRHP for Rs 1,700 crore IPO to fuel southern expansion
Lalithaa Jewellery Mart, a Chennai-headquartered jewellery retailer offering gold, silver, and diamond jewellery designed for southern Indian markets, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 1,700 crore through an initial public offering (IPO). ADVERTISEMENT The proposed Rs 1,700 crore IPO comprises a fresh issue of up to Rs 1,200 crore and an offer-for-sale (OFS) of Rs 500 crore by promoter M. Kiran Kumar Jain. The company also plans a reservation for eligible employees with a bidding discount and may undertake a pre-IPO placement of up to 20% of the fresh issue size, which would proportionally reduce the fresh issue. Proceeds from the fresh issue will be primarily deployed towards capital expenditure for setting up new stores in India, amounting to Rs 1,014.50 crore, with the balance allocated for general corporate purposes, the company said in its filing. The issue will follow the book-building process, allocating no more than 50% of the net offer to qualified institutional buyers (QIBs), and reserving at least 15% and 35% for non-institutional investors and retail individual investors, respectively. The company proposes to list its shares on the National Stock Exchange of India and BSE Ltd. Founded in 1985, Lalithaa Jewellery Mart opened its first store in Chennai's T. Nagar, a hub for silk and jewellery retail. The company operates 56 stores across southern India's Tier I, II, and III cities, including 22 in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana, and one in Puducherry, spanning a total operational area of 6,09,408 sq. ft. As of December 31, 2024, 47 of these stores each cover more than 5,000 sq. ft. According to a CRISIL report cited in the DRHP, Lalithaa Jewellery Mart recorded the highest operating revenue per store among key organised jewellery players in India between fiscal years 2022 and 2024. It is also ranked the second fastest growing regional jewellery player based on operating revenue growth during the same period, posting a compound annual growth rate (CAGR) of 43.62%. ADVERTISEMENT The company's jewellery schemes, 'Dhana Vandhanam' and 'Free-yo-Flexi,' have attracted repeat customers, with 420,261 active enrolments as of December 31, 2024. Lalithaa Jewellery Mart runs two manufacturing units in Tamil Nadu, one at Thirumudivakkam, Chennai, and another at Maraimalai, Kanchipuram, the latter through its wholly owned subsidiary Asita Manufacturing Private Limited. From December 2024, operations commenced at the Thirumudivakkam facility. The company employs a total of 563 Karigars across both manufacturing units. ADVERTISEMENT The company also operates one of India's largest jewellery stores in Vijayawada, with a carpet area of 1,00,000 sq. ft., alongside large-format stores in Somajiguda (98,210 sq. ft.) and Vishakhapatnam (65,000 sq. ft.), making them among the largest jewellery retail outlets in the country, according to Lalithaa Jewellery Mart reported a 26.07% increase in restated consolidated revenue from Rs 13,316.80 crore in fiscal 2023 to Rs 16,788.05 crore in fiscal 2024, driven by the rise in store count from 47 to 53, higher gold rates, and increased gold sales. For the nine months ended December 31, 2024, the company posted revenue of Rs 12,594.67 crore and profit after tax of Rs 262.33 crore. ADVERTISEMENT The Indian gems and jewellery retail industry was valued at Rs 6.49 trillion in fiscal 2024 and is expected to grow at a CAGR of 13–14% to reach Rs 12–12.2 trillion by fiscal 2029. South India remains the largest jewellery-consuming region, accounting for 38–43% of the country's overall jewellery Rathi Advisors and Equirus Capital are the book-running lead managers for the issue, while MUFG Intime India serves as registrar. ADVERTISEMENT Also read | IPO calendar: 4 new issues, 1 listing lined up in a busy mid-June week (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Mint
19 minutes ago
- Mint
China's rare earth export curbs are India's wake-up call
The US-China trade war has opened a fresh front, now impacting Indian industry in a big way. China's curbs on exports of rare earth magnets—processed from rare earth elements (REEs)—have disrupted supply chains, particularly in the country's automobile sector. The development also underscores why India must urgently reduce its dependence on China by ramping up domestic exploration and refining of its own rare earth reserves. In April, Beijing imposed export restrictions on seven REEs in retaliation for US tariff hikes. Importers were forced to navigate a complex licensing system, triggering delays and shortages worldwide. Indian firms have faced stiffer restrictions than many others, Mint reported last week. China dominates the global rare earths industry, mining 46% of REEs and refining 74% as of 2024, according to the International Energy Agency. These 17 metals are essential for everything from electric vehicles and fighter jets to smartphones and MRI scanners. Given the high costs of extraction, China has built a commanding lead in the sector over decades. India, despite having the world's third-largest rare earth reserves—estimated at 6.9 million metric tonnes—mines only a small portion. The country has remained heavily import-dependent, with China as the primary supplier. India's position This isn't the first time China has used REEs as a geopolitical lever. In 2010, it briefly cut off exports to Japan during a territorial standoff. The latest curbs serve as a timely reminder for India to move faster in securing its access to these critical materials. Some steps have been taken. Under the National Critical Mineral Mission (NCMM), launched in January 2025 with a ₹16,300 crore outlay over seven years, REEs have been identified as one of 30 critical minerals. Their production and import have been made a national priority. In March, for the first time, the REE sector was opened to private investment. A Reuters report noted that the government plans to introduce fiscal incentives for domestic production in response to the current disruption. But more must be done. A 2020 Exim Bank working paper identified key gaps. Chief among them is India's limited refining and processing capacity, which has long hamstrung efforts to tap domestic reserves. Greater investment in R&D is also needed to develop alternatives for critical minerals, the report said. India must also look outward—by enabling joint mining ventures and helping Indian firms acquire assets abroad. This strategy has been adopted by countries like the US and Japan. As the global push to reduce Chinese dominance in the sector gathers pace, India could emerge as a viable alternative supplier—though the transition will take time. China's own dominance took nearly two decades to build after it began prioritizing REE development in the 1980s. What next? Demand for rare earths is set to soar as the global economy pivots toward decarbonization and electrification. According to the IEA's Critical Minerals Outlook 2025, demand stood at 91 kilotonnes in 2024 and could nearly double to 178 kilotonnes by 2050. Clean energy will be the main driver, with REE demand from this segment expected to rise from 20% today to over 33% by 2050. 'Growing demand for permanent magnets, particularly from EVs and wind power, boosts the need for magnet rare earths," the IEA report noted. Read this | EV industry, government struggle to find alternatives as China throttles rare earth magnet supply While demand is set to rise sharply, the biggest vulnerability remains China's dominance—and its willingness to weaponize supply chains. Australia is expected to emerge as a key supplier over the next decade. Meanwhile, India and Central Asian nations—including Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan—have expressed interest in joint exploration of rare earths and other critical minerals. Such efforts may not yield immediate results, but could gradually chip away at China's grip over the global supply.


Indian Express
24 minutes ago
- Indian Express
The curious case of IPL sporting loyalties
Written by Vishal R Choradiya At the 18th edition of the Indian Premier League (IPL), which ended on June 3, the Royal Challengers Bengaluru (RCB) finally laid their ghosts to rest. After nearly two decades of unfulfilled promise and perennial heartbreak, the team secured its maiden title, sending its long-suffering fan base into a frenzy. The celebrations spilled out into the streets of Bengaluru, culminating in a grand victory parade the next day, cheered on by hordes of ecstatic supporters. For those who have stood by the team through crushing defeats and elusive dreams, the triumph no doubt felt personal, almost like vindication. But this very intensity of emotion, this deeply felt bond between the team and its fans, begs a more probing question: What explains such unwavering loyalty, especially in a league as commercially constructed and geographically arbitrary as the IPL? To explore this, one must first acknowledge the peculiar structure of the IPL itself. Unlike traditional club sports rooted in local histories and communal memories, IPL teams are corporate franchises named after Indian cities or states, but rarely composed of individuals who hail from them. Players and coaching staff are shuffled around at auctions like assets, their affiliation to a team based more on monetary bids than regional connection. In the case of RCB, the incongruity is stark: Apart from symbolic gestures, like sporting the Kannada slogan 'Ee Sala Cup Namdu', there is precious little that ties the team to Bengaluru. Most players, past and present, have no connection to the city by birth, language, or residence. The team has never been a reflection of the city's cultural or sporting ecosystem — it is, rather, a brand operating under the city's name. This phenomenon is not unique to RCB. Every IPL franchise operates under a similar logic. Chennai Super Kings (CSK), Mumbai Indians (MI), Kolkata Knight Riders (KKR) — all trade on the symbolic capital of the cities they are named after, while fielding teams that, for the most part, have little organic relation to those places. The few exceptions — like M S Dhoni's association with CSK — are themselves the product of sustained marketing and narrative-building rather than any real civic affiliation. Dhoni is from Ranchi, after all, and Virat Kohli, the face of RCB for all 18 seasons, was born and raised in Delhi. That he has never played domestic cricket for Karnataka and does not reside in Bengaluru seems to matter little to fans for whom he has become synonymous with the city's cricketing hopes. One could argue that Kohli and others like him have 'adopted' their IPL cities in a broader, metaphorical sense — much like professionals who relocate to new cities and build new identities. But such reasoning only underscores the performative and constructed nature of these affiliations. The truth is that sporting loyalties in the IPL are shaped not by local rootedness but by a carefully curated spectacle, engineered to evoke belonging, pride, and passion. Franchise owners, marketing teams, and broadcasters collaborate to sell a version of regional identity that is palatable, entertaining, and above all, profitable. From this perspective, what fans are loyal to is not so much a 'team' in the traditional sense, but a franchise — a commercial enterprise that exists to generate returns for its investors. The only constants are the owners; players, support staff, and even team philosophies are ephemeral. Yet, fans invest emotionally as if these franchises represent enduring traditions or civic values. This dissonance, between the reality of corporate sport and the illusion of local identity, is both striking and troubling. It becomes more so when we consider the commodification of fan emotion. Through relentless advertising, cinematic teasers, anthems, merchandise, and high-voltage pre- and post-match programming, the IPL transforms cricket into a grand, immersive spectacle. Fans are not merely spectators but consumers, their attention monetised through ad revenues, brand endorsements, and fan engagement platforms. There is little room for critical thought or dispassionate appraisal. To question the basis of one's loyalty is to risk exclusion from the communal euphoria that the league thrives on. This is not just about entertainment; it is about power and profit. The league's structure leverages people's yearning for identity, community, and a sense of belonging, only to repackage and sell it back to them. The IPL trades on regional pride while remaining indifferent to the actual lived realities of the regions it invokes. The fan, in this economy, is both the product and the consumer — an avatar of what French philosopher Guy DeBord called the 'Society of the Spectacle', where images and appearances displace authentic relationships and experience. DeBord argued that in such a society, the spectacle is not merely a collection of images, but a social relation mediated by images. This describes the IPL perfectly: City names, team chants, and celebrity endorsements create a symbolic universe that feels intimate but is, in truth, transactional. The experience is real, but its foundations are manufactured. The joy of victory and the agony of defeat are deeply felt, but they are orchestrated within a system designed primarily for profit. To be clear, none of this is to begrudge fans their celebrations, nor to question the sincerity of their emotions. Joy, after all, is joy, however mediated. But in the heady afterglow of RCB's long-awaited triumph, it is worth asking what exactly we are celebrating. Is it a city's sporting victory, a vindication of fan faith, or simply the success of a well-executed brand strategy? Perhaps it is all of these at once. But if the IPL is to be more than a polished performance, if its fans are to be more than brand ambassadors, then a little critical reflection might be in order. Loyalty is a beautiful thing — but it need not be blind. The writer is an assistant professor with the Department of Professional Studies, Christ University, Bengaluru