Rapido takes a swing at Swiggy and Zomato, enters food delivery space with Ownly
TechCrunch also reports that Rapido will keep delivery zones tight, showing only nearby restaurants to reduce fuel costs and speed up service. Menus will be curated to maximise margins without hurting visibility for eateries, according to an investor cited in the report.The company reportedly plans to use its large fleet, which will be of about 10 million vehicles nationwide, including 5-6 million two-wheelers, for the new service. This same network is already used for its taxi and courier operations. Rapido has also handled deliveries for Swiggy in the past, giving it insight into peak demand times and popular restaurants. The company is allowed to use this data, though its agreement with Swiggy bars it from working with Zomato or other competitors.Founded in 2015, Rapido started with bike taxis before expanding into auto rickshaws, parcel delivery, third-party logistics, and most recently cab services. It has also partnered with Taiwan's Gogoro to introduce battery-swapping electric two-wheelers into its fleet.- EndsTrending Reel
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NDTV
an hour ago
- NDTV
'US Thinks They Can Boss Around': Top Economist Jeffrey Sachs Slams Trump Tariffs On India
US economist Jeffrey Sachs has criticised President Donald Trump for slapping hefty tariffs on India, denouncing the policy as both "stupid" and saying it "serves no purpose". Speaking to ANI, Sachs said Trump's move reflects hostility toward the BRICS alliance of India, China, Russia, Brazil and South Africa. "This makes no sense. It's not true. It's failing. Putting the surcharge on India was as stupid as it could be from any norm. It serves no purpose," he remarked. Sachs described Trump as "delusional" and blasted Washington's long-standing habit of exercising global dominance. "The US has exercised its dominant power for so long, they think they can boss every other part of the world around," he said. According to Sachs, the 50% duties slapped on Indian imports, triggered by New Delhi's oil trade with Russia, are not only damaging to America's own economy but also breach global rules. "Everything about the tariffs is wrong. It's destructive for the US economy. It violates international law. It's a breakdown of our political system. Trump's policies are doomed to fail," he warned. The economist also advised India to take a cautious view of Washington, arguing that New Delhi's long-term interests will not be safeguarded by leaning on the US for defence or trade. "US politicians don't care at all about India. Please understand this. India is not going to reap long-term security by siding with the United States in the Quad against China. India is a great power that has an independent standing in the world," Sachs said. Instead, he pointed to China, Russia and Brazil as India's "real partners," cautioning against the belief that India could seamlessly substitute China in global supply chains. Even if India aids in diversifying US sourcing, Sachs said, it should not expect a "great trade relationship" with Washington. He has previously called Trump's tariffs "unconstitutional," arguing they expose deep flaws in America's economic and foreign strategy.
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First Post
an hour ago
- First Post
ISL clubs sound alarm to AIFF of facing 'real possibility of shutting down entirely' due to ongoing crisis
A total of 11 Indian Super League clubs, including former champions Mumbai City FC and Bengaluru FC, signed a letter to AIFF president Kalyan Chaubey which urged the national federation to quickly resolve the ongoing impasse over the league's Master Rights Agreement with the Football Sports Development Limited. The 2025-26 season of the Indian Super League, India's top-flight competition since 2019, could be called off entirely if the Kalyan Chaubey-led AIFF is not able to arrive at an agreement with the FSDL over the league's rights agreement soon. PTI The crisis that Indian football currently finds itself mired in threatens to take an even darker turn in the coming days, with eleven Indian Super League (ISL) clubs warning the All India Football Federation (AIFF) that they face 'the real possibility of shutting down entirely'. That is unless the AIFF is able to end its ongoing deadlock with the Football Sports Development Limited (FSDL) over the ISL's Master Rights Agreement (MRA) soon. STORY CONTINUES BELOW THIS AD The clubs wrote a letter to AIFF president Kalyan Chaubey on Friday in which they added that the impasse between the national federation and ISL organisers FSDL over the non-renewal of the MRA has 'paralysed professional football in India'. More from Football 'Over past 11 years, through sustained investment and coordinated effort, clubs have built youth development systems, training infrastructure, community outreach programmes, and professional teams that have elevated India's footballing credibility both domestically and internationally,' read the letter from the 11 clubs. 'This progress is now in imminent danger of collapse. The current standstill has created immediate and severe consequences. With operations suspended and no certainty on league continuity, several clubs face the real possibility of shutting down entirely.' The crisis surfaced after FSDL, the ISL organisers as well as AIFF's commercial partner, put the 2025-26 season 'on hold' on July 11 due to uncertainty over the renewal of the MRA, prompting at least three clubs to either pause first-team operations or suspend player and staff salaries. 'The 2025-26 ISL season is at risk of not taking place at all. This is not merely an administrative deadlock – it is an existential crisis for Indian football. We write to you in the gravest of circumstances,' the clubs wrote. 'The trust painstakingly built with fans, sponsors, investors, international footballing bodies over the past decade will be irreparably damaged if the league remains in limbo.' STORY CONTINUES BELOW THIS AD Mohun Bagan, East Bengal decide against signing letter to AIFF The letter was signed by Bengaluru FC, Hyderabad FC, Odisha FC, Chennaiyin FC, Jamshedpur FC, FC Goa, Kerala Blasters FC, Punjab FC, NorthEast United FC, Mumbai City FC and Mohammedan Sporting. Kolkata heavyweights Mohun Bagan Super Giant and East Bengal did not the sign the letter. Detailing the risk of club closures and livelihood loss, the letter said, 'More than 2000 direct livelihoods – players, coaches, medical staff, analysts, kit managers, groundsmen, administrative staff – hang in the balance, alongside countless indirect livelihoods dependent on the league. 'Clubs face a season where revenue from tickets, merchandise and other avenues will be reduced to zero. Potential sponsors have already started backing out, looking at the scenario that the ISL is in. 'This is a huge financial blow that clubs will not recover from this year and it will affect payout of salaries to players and staff in the immediate future, besides making several stakeholders contemplate a complete and permanent shut-down of their respective clubs.' The clubs said the impasse will also impact India's readiness for international matches, saying 'without a functioning league, our national team will be severely disadvantaged in upcoming AFC and FIFA tournaments'. Why Indian clubs could face ban in continental events They also said that without the ISL, they will not be able to play a minimum number of competitive matches for participation in continental competitions, thereby risking suspension of Indian clubs from AFC tournaments. 'The Asian Football Confederation (AFC) mandates a minimum number of competitive matches for participation in continental competitions. Without ISL, this requirement cannot be met, putting India at risk of suspension from all AFC and FIFA tournaments,' the clubs said. STORY CONTINUES BELOW THIS AD 'FIFPRO, the global players' union, has already apprised FIFA of the situation, increasing the likelihood of external scrutiny and possible sanctions.' Also Read | On Thursday, the AIFF had agreed to mention the raging issue concerning the ISL on Monday. The apex court has reserved its judgement in the case relating to the draft constitution of the AIFF. The decision to apprise the SC of the crisis situation was taken after a . In fact, a reliable source said that the AIFF is willing to file a written application if the Supreme Court asks for one. 'We fully appreciate that related matters are before the Hon'ble Supreme Court. However, from the record of recent hearings, it appears that the immediacy and scale of the crisis have not been clearly conveyed to the Hon'ble Court,' the clubs said. STORY CONTINUES BELOW THIS AD 'The human cost, the threat of clubs folding, the risk of losing our place in AFC/FIFA competitions, and the reputational harm to India's footballing image demand urgent action on our part. 'We therefore respectfully request the AIFF, as the regulator of Indian football, to urgently mention this matter before the Hon'ble Supreme Court on Monday, 18 August 2025, and to append this letter to present the unified concerns of all ISL clubs before the Hon'ble Court.' The clubs said they are ready to support the AIFF in the case through their counsels though they are not parties to the proceedings before the SC. 'Immediate collective action is the only way to preserve Indian football's future, safeguard livelihoods, and protect the country's standing in the global football community. We remain committed to working alongside the AIFF to achieve a resolution.' With PTI inputs
Economic Times
2 hours ago
- Economic Times
Growth to get lift, boost for demand after GST rationalisation, say economists
Synopsis Economists predict that the Goods and Services Tax (GST) rationalization will significantly boost domestic demand, providing crucial support to the Indian economy amidst challenges posed by US tariffs. The simplified tax structure, particularly benefiting essentials, is expected to increase disposable income for lower and middle-income consumers. ANI GST reform push has drawn favourable comments from economists. Domestic demand will get a boost after goods and services tax (GST) rationalisation, economists said, providing support to the economy that's seen likely taking a hit from the 50% duty levied on Indian imports by the US.'At a time where consumption demand has been uneven and felt pressure from high inflation and low nominal wage growth over the last couple of quarters, the proposed GST reforms are a positive, especially for essentials, aiding consumption by the lower and middle income class,' said Sakshi Gupta, principal economist at HDFC Bank. QuantEco Research economist Yuvika Singhal said, 'Any kind of reduction in taxes is positive for consumption as it leaves higher disposable income in the hands of consumers.' Prime Minister Narendra Modi had said in his Independence Day speech on Friday that GST reforms would provide relief to micro, small, and medium enterprises (MSMEs), local vendors and GST cuts on items will range from durables such as refrigerators and air conditioners to packaged foods and medical supplies. 'It's a much-needed development, and GST rationalisation is the need of the hour, apart from other reforms,' said Paras Jasrai, associate director at India Ratings and Research (Ind-Ra). The Centre has proposed that India move to a simpler, two-slab structure from four currently--retaining the 5% and 18% rates and scrapping the 12% and 28% levies, ET reported earlier. 'With indirect taxes having a wider reach, GST reforms can deliver a stronger boost,' said Gaura Sengupta, chief economist at IDFC First Bank. 'Rural consumption is improving but not broad-based enough to offset weak urban demand, so a fiscal push was needed—and these reforms provide that.'Jasrai said that lower stabs and tax rates will give consumption demand a significant boost, especially amid the uncertainty over trade tariffs that are seen impacting external President Donald Trump has imposed a 50% tariff on India, including a 25% penalty for importing Russian oil. The International Monetary Fund (IMF) and World Bank have cut global growth forecasts amid the prevailing trade uncertainty. Even so, India's domestic strength will stand out.'Since domestic consumption makes up a larger share of the economy, India will remain resilient despite global headwinds,' said Singhal. An increase in spending activity will also lift gross domestic product (GDP). The boost to nominal GDP growth is estimated at 0.6 percentage point over 12 months using fiscal multipliers, said Bank's Gupta said the reform could boost demand for consumer durables if GST rates on items such as ACs and TVs are reduced. 'A more notable impact could also be seen for demand for two-wheelers and cars if the current GST rate of 28% is reduced to 18%,' she highlighted that fast-moving consumer goods (FMCG) companies will see a positive impact, depending on how and when the changes are implemented.
