Latest news with #Rajagopalan
Economic Times
30-07-2025
- Business
- Economic Times
Perplexity founder Aravind Srinivas-backed Astra shuts shop on cofounder differences
Agencies Perplexity founder Aravind Srinivas-backed software-as-a-service (SaaS) startup, Astra, has shut down operations. In a post on LinkedIn, its cofounder and chief executive, Supreet Hegde, cited differences with another cofounder, Ranjan Rajagopalan, for the decision.'It is with a heavy heart and mixed emotions that I am announcing the closing of Astra. We are deeply grateful to our angel investors and mentors, who supported us through all the chaos we faced together,' he said. 'Despite our best efforts, as co-founders, we found ourselves at different crossroads regarding the pace of growth. It is a challenging decision, but we have chosen to part ways and bring this chapter to a close,' he added. The startup promised to automate 80% of account executive activities and improve deal execution and even secured two enterprise clients during its beta phase. Founded by IIT-Madras graduates, it offers an AI-powered sales analytics platform for businesses for workflow execution. Srinivas joined Astra as an angel investor in March this also mentioned challenges in winning trust from enterprise clients, stating that the surge in AI agents has led to more complexity.'Working with larger companies meant navigating lengthy sales cycles, especially as an early-stage startup asking clients to trust us with sensitive data from platforms like Salesforce, G-Drive, Slack, and CLM. The current surge of interest and confusion surrounding AI agents added yet another layer of complexity, with many clients unsure of whom to trust or how to evaluate these AI agents,' the cofounder added in the to Astra, Hegde served as vice president of global business development for enterprise tech startup HyperVerge, while Rajagopalan was associated with AI text-to-video conversion platform Proshort and Google before co-founding the future plans are not yet disclosed by the executive. However, one of the cofounders, Rajagopalan, is reportedly working on a new startup, which is in stealth mode currently. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Regulators promote exchanges; can they stifle one? Watch IEX Jane St: How an options trader smelt a rat when others raised a toast TCS job cuts may not stop at 12,000; its bench policy threatens more From near bankruptcy to blockbuster drug: How Khorakiwala turned around Wockhardt Stock Radar: SBI Life rebounds after testing 50-DEMA; could hit fresh record highs above Rs 2,000 – check target & stop loss These 10 banking stocks can give more than 25% returns in 1 year, according to analysts Two Trades for Today: A metals stock for an over 6% gain, a large-cap chemicals maker for about 7% upmove F&O Radar| Deploy Broken Wing in LIC Housing Finance to benefit from bearish outlook
The Hindu
13-07-2025
- General
- The Hindu
PNLIT steps away from Puttenahalli Lake maintenance after BBMP notice
After 15 years of maintaining Puttenahalli Lake, also known as Puttakere, in South Bengaluru, the Puttenahalli Neighbourhood Lake Improvement Trust (PNLIT) has stepped back from nurturing the lake following a notice from the Bruhat Bengaluru Mahanagara Palike (BBMP). PNLIT played a key role in rejuvenating the 13-acre and 25-gunta lake in 2010. In 2011, the trust signed an MoU with the BBMP to maintain the lake with support from local residents. From its neglected state in 2008, the lake flourished after restoration and began attracting numerous migratory and native birds. According to eBird data, 125 bird species, including the Oriental Darter and White-breasted Waterhen, have been recorded at the lake. Notably, 17 species, such as the spot-billed duck and Brahminy kite, have nested there. The lake is also home to 88 different tree species, totalling over 500 trees. As per BBMP records, the civic body took over the lake's maintenance from the Forest Department in 2008, which paved the way for its rejuvenation. Usha Rajagopalan, co-founder of PNLIT, told The Hindu that BBMP lacked a post-rejuvenation plan, prompting her and local residents to establish PNLIT. 'We signed an MoU with BBMP for lake maintenance from 2011 to 2014, and it was then renewed twice, in 2014 and 2017, lasting until 2020,' said Ms. Rajagopalan. However, in 2020, the BBMP did not renew the MoU after the Karnataka High Court ruled that the government could not enter into such agreements (related to lakes) with corporate entities. The order, however, did not prohibit the government from accepting corporate funds for lake rejuvenation. Ms. Rajagopalan mentioned that PNLIT filed an interlocutory application in response to the court's order, and the hearing is still ongoing. Even prior to this development, PNLIT had hired workers and had been maintaining the lake for over a decade. Ms. Rajagopalan emphasised that PNLIT is a registered charitable trust with 80G tax exemption for donors and is fully audited and tax-compliant. 'Since we had filed an interlocutory application, we continued nurturing the lake and carried out timely pruning and other maintenance activities,' she told The Hindu. However, in a notice dated June 10, the civic body directed PNLIT to remove all boards from the trees and to cease unauthorised work, in this case, pruning and other maintenance tasks. According to Ms. Rajagopalan, the PNLIT community was disheartened by the notice and decided to withdraw. 'We can't fight anymore; we have been fighting for more than a decade,' a devastated Ms. Rajagopalan told The Hindu. A BBMP official from the lake division described PNLIT's collection of funds for lake maintenance as 'illegal,' which led to the issuance of the notice. 'The High Court has barred us from such MoUs, and if this group is collecting money for lake maintenance, then isn't it illegal?' the official asked.
Time of India
30-06-2025
- Business
- Time of India
Retail sector bounces back, to see 9-10% growth soon
HighlightsThe Indian retail sector, currently valued at $900 billion, is expected to grow at a rate of 9 to 10% following a temporary slowdown to 5%. According to the Retailers' Association of India's 62nd Retail Business Survey, retail sales across India increased by 7% in May 2025 compared to the same month the previous year. Southern India led retail sales growth at 9%, while quick service restaurants showed the highest segment growth at 10%, indicating increased consumer willingness to spend. The Indian retail sector , currently valued at $900 billion, is showing signs of strong recovery and is expected to grow at a faster pace in the coming months, according to the Retailers' Association of India (RAI). The sector, which is currently growing at a rate of 5%, is likely to soon pick up speed and reach a growth rate of 9 to 10%. RAI's CEO Kumar Rajagopalan said that right after the pandemic, the retail sector had bounced back strongly with a 20% growth rate. 'However, in the last one year, the growth slowed down to around 5%. Now, with the markets stabilising, consumers spending more, and the right consumer base in place, the sector is once again showing signs of faster growth,' he added. Meanwhile, as per RAI's 62nd Retail Business Survey , retail sales across India grew by 7% in May 2025 compared to the same month the previous year. This marks a significant improvement after months of moderate growth ranging between 4 to 5%. Region-wise, southern India led the way with a 9% growth in retail sales in May. Western India followed with 7%, while northern and eastern regions recorded growth of 6% and 4%, respectively, as per the report. Among the different segments, quick service restaurants (QSR) showed the highest growth at 10%. Consumer durables and electronics, along with furniture, also performed well with an 8% rise each. Rajagopalan said this increase shows that people are now more willing to spend.
Hans India
29-06-2025
- Business
- Hans India
Retail sector gaining momentum, growth expected to reach 9-10 pc soon: RAI
New Delhi: The Indian retail sector, currently valued at $900 billion, is showing signs of strong recovery and is expected to grow at a faster pace in the coming months, according to the Retailers' Association of India (RAI). The sector, which is currently growing at a rate of 5 per cent, is likely to soon pick up speed and reach a growth rate of 9 to 10 per cent. RAI's CEO Kumar Rajagopalan said that right after the pandemic, the retail sector had bounced back strongly with a 20 per cent growth rate. "However, in the last one year, the growth slowed down to around 5 per cent. Now, with the markets stabilising, consumers spending more, and the right consumer base in place, the sector is once again showing signs of faster growth," he added. Meanwhile, as per RAI's 62nd Retail Business Survey, retail sales across India grew by 7 per cent in May 2025 compared to the same month the previous year. This marks a significant improvement after months of moderate growth ranging between 4 to 5 per cent. Region-wise, southern India led the way with a 9 per cent growth in retail sales in May. Western India followed with 7 per cent, while northern and eastern regions recorded growth of 6 per cent and 4 per cent, respectively, as per the report. Among the different segments, quick service restaurants (QSR) showed the highest growth at 10 per cent. Consumer durables and electronics, along with furniture, also performed well with an 8 per cent rise each. Rajagopalan said this increase shows that people are now more willing to spend, especially on non-essential or discretionary items. Looking ahead, the RAI CEO expressed optimism about the upcoming festive season. He said that the improving consumer sentiment could further boost retail sales and bring the sector closer to double-digit growth in the near future.
The Hindu
28-06-2025
- Business
- The Hindu
Retail sector may soon jump into a 9-10% growth mode: Retailers' Association of India
The Indian retail sector, pegged at $900 billion and growing at 5% currently, is expected to soon jump into a 9-10% growth pace, as markets seem quite ready with right consumer base and increasing spending power, according to the Retailers' Association of India (RAI), a trade body which represents chain store retailers, independent retailers, e-commerce players and retail service/technology providers across the country. 'Immediately after the pandemic, the retail sector got into a 20% growth, but in the last one year the growth has slowed to 5%, but we expect the growth to get into 9% to 10% range soon,' CEO Kumar Rajagopalan told The Hindu. He said the emerging industry trends indicated increased consumption backed by the right consumer base and growing disposable incomes. 'So, we are soon expecting a jump in the pace of growth from current levels to match the market demand. We've got the population to support.' According to him, India's growth towards becoming the third-largest economy is making a significant difference. ''So, everything is going towards better consumption, as per capita income increases, consumption increases. So I think there's a lot that's happening; however, the competitive framework of Indian retailing is also changing drastically,'' he added. He further said the country's retail industry was increasingly becoming organised. For instance, 10 years ago, only 4% to 5% of the industry was under the organised category, while today, 17% of the total industry is organised. 'This conversion, from unorganised to organised, is happening on many fronts. Many of the traditional businesses are turning to be organised as the new generation takes over the leadership. Also, e-commerce is pushing the growth of organised businesses. Plus, various measures of the government are also encouraging retailers to get organised with the introduction of GST, digital money etc., streamlining and making retailing easier,'' Mr. Rajagopalan observed. Commenting on the challenges faced by the industry, he said the industry knew the business was completely changing itself, with the omnichannel concept gaining wide acceptance. Customers were buying online as well as offline. He also said there was a huge amount of competition happening in the sector because the barriers to entry are completely shattered now. So the industry was trying to see how they could adapt themselves to the growing needs of fast-paced consumers of the modern day, Mr. Rajagopalan said. 'There's a fight for a share of customers' time. It's becoming difficult to get the attention of customers. guess this is true for all businesses as customers are totally distracted by too many things around. So retailers have the challenge to make their messaging quite engaging, clear, and rightly attractive to customers,' he opined. On the people front, he said, there were a lot of people available in the industry, but quality talent, retaining the existing talent and developing talent remained a big challenge. The retail industry employs over 40 million people, probably the second largest after agriculture and allied sectors.
