Zaggle buys two companies in a single day, pumps Rs. 150 crore
The company has made four acquisitions in the last four months, infusing about Rs. 215 crore
MUMBAI, India , June 9, 2025 /PRNewswire/ — Zaggle Prepaid Ocean Services Limited, India's leading spend management company, is set to acquire a 100% stake in Dice and GreenEdge Enterprises for ₹150 crore. These consecutive acquisitions will enhance Zaggle's presence in the Indian market, significantly broaden its portfolio of advanced spend management solutions and further strengthen its offerings in the loyalty, rewards and travel segments.
With this acquisition, Zaggle has completed four strategic takeovers in the past four months, totalling nearly ₹215 crore. These moves align with the company's ambition to become a $1 billion revenue enterprise within the next five to seven years. Zaggle is strategically deploying the ₹595 crore raised through its Qualified Institutional Placement (QIP) to acquire companies that are product-accretive, geography-accretive, or EBITDA-accretive, while ensuring sustained positive returns on equity and investments.
Incorporated in 2018, Dice is a Pune -based AI-driven enterprise spend management platform, specializing in Spending as a Service. Its suite of solutions encompasses travel and expense management, accounts payable management and procurement management solutions. Its unified platform offers seamless self-booking, approvals and reconciliations with built-in policy controls, streamlining the entire spend cycle for businesses. The company has demonstrated consistent growth over the last two years, clocking a turnover of over Rs. 6 crores in FY24.
The acquisition of Dice will significantly enhance Zaggle's existing product portfolio, transforming it into a more comprehensive and integrated suite of spend management solutions. Through this acquisition, Zaggle will gain access to Dice's established customer base, which includes prominent enterprises such as Tata AIA, Bajaj Electricals and DTDC, further reinforcing its market presence. The combined capabilities will not only deepen Zaggle's reach within the Indian market but also create new opportunities to deliver its advanced solutions on a global scale.
GreenEdge Enterprises, on the other hand, is a specialized solution provider for golf travel, unique experiences and access-based rewards. With its stronghold in India , the company achieved a turnover of Rs. 19.82 c rores in FY24. This acquisition will enhance Zaggle's product offerings in the loyalty and rewards and travel segment, providing a substantial boost to its Propel offering.
Zaggle had recently announced the acquisition of a 51% Controlling Stake in EffiaSoft and a 38.34% stake in Mobileware Technologies. The company had recently reported a consolidated profit after tax (PAT) of Rs. 87.4 crore for FY25, up from Rs. 44 crore in FY24.
About Zaggle
Founded in 2011, Zaggle (BSE: 543985) (NSE: ZAGGLE) is a leading player in spend management, offering a differentiated value proposition with a diversified user base. Operating within the business-to-business-to-customer (B2B2C) segment, Zaggle stands out as one of the few companies with a comprehensive range of financial technology products and services. Zaggle is one of India's top issuers of prepaid cards, collaborating with banking partners to drive its card offerings. The company also boasts a diverse portfolio of SaaS products and an extensive network of touchpoints. As of March 31, 2025 , Zaggle has issued over 50 million prepaid cards, serves more than 3,400 corporate enterprise clients and supports a user base exceeding 3.2 million. With a robust corporate client base spanning various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobiles, Zaggle is well-positioned as a leading player in the spend management sector.
For more information, please visit the company website www.zaggle.in or follow us on LinkedIn www.linkedin.com/company/zaggleapp/
View original content:https://www.prnewswire.com/in/news-releases/zaggle-buys-two-companies-in-a-single-day-pumps-rs-150-crore-302476260.html
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
8 minutes ago
- Newsweek
Indian CEOs in America Are More Common Than Ever—What Sets Them Apart?
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. "The old joke was you could not become a CEO in the U.S. if you are Indian," Eric Garcetti, then U.S. ambassador to India, remarked last year during an interview in New Delhi. "Now the joke is you cannot become a CEO in America if you are not Indian." The stunning global business success of the Indian diaspora is no joking matter. Satya Nadella runs Microsoft, Sundar Pichai leads Google, Leena Nair heads Chanel, Raj Subramaniam pilots FedEx and, until last year, Laxman Narasimhan led Starbucks. All told, on this year's edition of the Fortune 500, 11 companies are led by CEOs with Indian heritage who oversee enterprises with a combined market cap of more than $6.5 trillion. The transformation behind the joke's punchline was at first gradual, then sudden. Ramani Ayer became the first Indian-born CEO of a Fortune 500 company when he took the helm of The Hartford in 1997. Indra Nooyi's 2006 appointment at PepsiCo marked another milestone as she became the first Indian woman to lead a Fortune 100 company. By 2010, Ajay Banga's appointment at Mastercard established what would become a recognizable pattern. Today, executives like Nooyi and Banga (who transitioned to World Bank president in 2023) are often viewed as dean figures of the Indian CEO community, mentoring subsequent generations. A conceptual image of a businesswoman standing at the top of stairs and looking out over a cityscape skyline. A conceptual image of a businesswoman standing at the top of stairs and looking out over a cityscape skyline. iStockphoto/Getty Previous attempts to explain this phenomenon have relied heavily on cultural anecdotes and personal theories. During a 2022 roundtable discussion on the "Rise of Indian CEOs on the Fortune 500 List" hosted by India's leading business channel CNBC-TV18, prominent Indian executives offered their own perspectives: Piyush Gupta of DBS Bank proposed his "H.A.T." framework—hunger, adaptability and tenacity. Prem Watsa, chairman of Fairfax Financial Holdings, emphasized democratic values and family orientation. Shobana Kamineni, founder and chairperson of Apollo Hospitals, highlighted entrepreneurial drive emerging from health care challenges. Newsweek decided to move beyond speculation. We investigated career trajectories to understand how historical forces have contributed to the success of Indian business leaders. To ground our analysis in data, we partnered with ghSMART, a global leadership consulting firm that has assessed 30,000 CEOs and C-suite executives across industries and geographies as part of its proprietary CEO Genome research, which is used by Fortune 500 companies and private equity firms to select and develop senior leaders. Their data on executives of Indian descent found that they are over five times more likely to take calculated risks, nearly six times more likely to embrace challenges and three times more likely to demonstrate resilience and process orientation, competencies essential for leading through complexity and change. Their scores also disproportionately spike in adapting proactively, one of their core predictors of CEO success. We also conducted extensive interviews with Indian-heritage CEOs, examining how they built careers and navigated global corporate structures. PepsiCo Chair and CEO Indra Nooyi pictured on November 11, 2013, in New Delhi, India. PepsiCo Chair and CEO Indra Nooyi pictured on November 11, 2013, in New Delhi, India. Priyanka Parashar/Mint via Getty What emerged were four distinct patterns of how Indian executives learned to navigate the global economy, tracing India's evolution from a newly independent nation exporting its brightest minds to a global economic power that both shapes international business and increasingly retains its own talent. The first wave proved technical competence could overcome cultural barriers during initial globalization. The second wave leveraged chaos navigation skills when technology disrupted traditional corporate hierarchies. The third wave transcended cultural assumptions through operational excellence as even the most cherished brands realized they needed global management capabilities. The fourth wave increasingly opted for India over the U.S. as institutional capacity matured to support world-class wealth creation. The IIT to Corporate America Pipeline Raj Gupta arrived at Cornell University in 1969 with $8 in his pocket, Vietnam War protests raging across campus and a plan to stay just long enough to get a master's degree in operations research and some American work experience to boost his career prospects back home in India. His father, a civil engineer, had insisted one of his sons become a mechanical engineer, and Gupta had dutifully earned his mechanical engineering degree at the Indian Institute of Technology Bombay, one of a string of elite educational centers established after Indian independence in 1947. A member of IIT Bombay's sixth graduating class, Gupta was one of the thousands of newly minted English-speaking engineers that India had begun producing annually. Upon first arrival, many of Gupta's immediate concerns were about surviving his first Ithaca winter, but his primary aim was landing a job. While he received multiple offers, including from IBM and Xerox, he opted for Scott Paper, a Philadelphia firm that had cemented its reputation for innovation in 1890 by being the first to put toilet paper on a roll. His reasoning was ruthlessly pragmatic: "Philadelphia was the warmest of all five locations." FedEx President and CEO Raj Subramaniam, left, pictured with Wayfair CEO and co-founder Niraj Shah at a Boston College Chief Executives Club luncheon on March 5, 2025, in Boston, MA. FedEx President and CEO Raj Subramaniam, left, pictured with Wayfair CEO and co-founder Niraj Shah at a Boston College Chief Executives Club luncheon on March 5, 2025, in Boston, MA. Pat Greenhouse/The Boston Globe via Getty Gupta's generation had arrived during a unique convergence. The U.S. 1965 Immigration Act opened skilled migration pathways while American corporations desperately needed technical expertise. But corporate America remained overwhelmingly white and male, so Indian professionals still needed to navigate unspoken barriers despite their sought-after skills. India's education system had created this pipeline through relentless competition. As former VMware CEO Raghu Raghuram notes: "You were either an engineer or a doctor or nobody. The education system wasn't built to support all students." The IIT acceptance rate of 0.5-2 percent made them more selective than Ivy League schools, while elite preparatory institutions like Hyderabad Public School created additional advantages. Hyderabad Public School seen on May 29, 2014, in Hyderabad, India. Hyderabad Public School seen on May 29, 2014, in Hyderabad, India. Doreen Fiedler/picture alliance via Getty The HPS connection proved remarkable: alumni include Microsoft's Nadella, Shantanu Narayen of Adobe, Banga of World Bank and Fairfax Financial's Watsa. Nadella's path proved especially intriguing—unable to clear the IIT entrance exam, he attended Manipal Institute of Technology, demonstrating that even those who "failed" India's most competitive tests could achieve global success. In 1971, Gupta joined Rohm and Haas, a multinational chemicals firm, where he spent four decades, accumulating "13 jobs in three continents and 17 bosses." Early feedback revealed colleagues saw him as "easily manipulated" because his careful communication style seemed to lack conviction. This communication challenge isn't uncommon among Indian executives, according to ghSMART's research. Gupta's breakthrough came when a mentor told him: "You have to get the notion of 'white man at the top' out of your head." He learned to speak directly, transforming from someone who avoided conflict to an executive who could drive difficult decisions. In 1999, he became chairman and CEO of Rohm and Haas until Dow acquired the firm for $15 billion in 2009. Even as the business landscape dramatically evolved, this pattern recurred across subsequent generations. Companies and technologies may have changed radically, but the patient, competence-building approach remained consistent. Reliability, the ability to consistently deliver on results, and one of ghSMART's four CEO Genome markers, emerged in their research as a hallmark strength among Indian CEOs. Nearly half of their top strengths aligned with "reliably executing," underscoring a disciplined, execution-oriented leadership style. Students listen as UN Secretary General Antonio Guterres speaks at an "India@75" event on October 19, 2022, at IIT Bombay in Mumbai, India. Students listen as UN Secretary General Antonio Guterres speaks at an "India@75" event on October 19, 2022, at IIT Bombay in Mumbai, India. Praful Gangurde/Hindustan Times via Getty Take Nadella, who studied electrical engineering at Manipal before joining Microsoft in 1992. He transitioned from engineering server software to architecting Microsoft's cloud-first strategy, driving market value from $300 billion to over $3 trillion, becoming CEO in 2014. Similarly, Pichai studied metallurgy engineering at IIT Kharagpur before joining Google in 2004 as a product manager. He evolved from managing Chrome browser development to leading Alphabet as CEO, overseeing the company's transformation to an AI-first strategy. What's remarkable is that none of these executives stayed in their technical specializations. The willingness to walk away from engineering careers they'd fought so intensely to enter suggests the selection process identified not just technical competence but strategic opportunism—the ability to recognize when greater fortunes lay elsewhere. Microsoft CEO Satya Nadella arrives to testify in an antitrust trial at federal court on October 2, 2023, in Washington, D.C. Microsoft CEO Satya Nadella arrives to testify in an antitrust trial at federal court on October 2, 2023, in Washington, D.C. Drew Angerer/Getty Masters of Chaos While pioneering IIT grads were climbing American corporate ladders in the 1970s and 1980s, that entire world was heading toward upheaval. The gray flannel suit conformity that had defined postwar business began fracturing as technology entrepreneurs moved to center stage. An entirely new leadership style demanded new skills—agility over authority, innovation over institutional knowledge, the ability to navigate constant change. Enter a generation of Indian executives uniquely prepared for corporate chaos. "Growing up in India, I was learning every day because of the chaos and the ambiguity around me," explains Ravi Kumar, CEO of Cognizant. "If you drive a car in India, you can drive in any part of the world." The inherent complexity of India—more than 1.4 billion people, over 1,600 languages and dialects, fragmented bureaucracies, constantly shifting political coalitions—forged executives comfortable with uncertainty just when global business culture began demanding that skill. This stood in sharp contrast to the postwar American corporate experience, which operated within stable, predictable structures. While American executives trained in companies that prized order and process, their Indian counterparts grew up navigating the country's daily chaos. As the older, staid corporate culture began to shatter amidst the digital revolution, Indian executives discovered their supposed disadvantage had become their greatest asset. For Neil Batlivala, CEO of health care company Pair Team, early exposure to this shifting landscape came through his father's philosophy. "You can be second in line forever in India," Batlivala recalls being told. "You can just stay there expecting the system to move for you, but it won't." Cognizant CEO Ravi Kumar. Cognizant CEO Ravi Kumar. Marleen Moise/Courtesy of Cognizant There's a Hindi word for this adaptive capability: jugaad, often used for coming up with solutions on the fly. But Kumar describes jugaad as something beyond individual problem-solving and much more systemic. "The world around us is dynamically changing," he says. "We have to revalidate assumptions and be flexible enough to do so—but also have the discipline to put guardrails around that flexibility." Growing up in India, Batlivala's mother regularly took him to visit children living under a bridge in the slums. "One day, the little boy wasn't there. His sister said, 'Oh, he got hit by a car and died.' That's my why I'm in health care." Rather than study medicine, Batlivala created an entirely new category of AI-enabled health care services for underserved populations. "A lot of it goes back to jugaad. The practicality in all of it: If I need a place to sit, I'm going to sit on a tire. That's it. I don't need to overthink it." This adaptability stood out in ghSMART's research: Indian executives were nearly six times more likely than others to demonstrate strength in "embracing challenges" and showed a 43 percent higher strength-to-risk ratio in adaptability. "I tend to think in shades of gray naturally. It's the nature of where I grew up," notes Raghuram. "Change is what it is in India." A modern Bombardier tramway bearing a Zoho advertisement on July 30, 2024, in Toronto, Canada. A modern Bombardier tramway bearing a Zoho advertisement on July 30, 2024, in Toronto, Canada. Roberto Machado Noa/LightRocket via Getty These skills stood out in the ghSMART data. In the area of "deciding with speed and conviction," one of the four CEO Genome markers, Indian leaders had a 15 percent higher strength-to-risk ratio compared to the control, indicating a distinct pattern of calculated risk-taking. Indian CEOs also stood out for their ability to make deliberate, high-conviction decisions. Raghuram's career exemplified this adaptability. After earning his physics degree from IIT Bombay and an MBA from Wharton, he joined Netscape in 1996 as a product manager just as the internet was exploding. When Netscape was acquired, he moved to VMware, spending over two decades building the company's product portfolio before becoming CEO in 2021. His technical background combined with business acumen enabled him to guide VMware through its $61 billion acquisition by Broadcom two years later. The 1990s tech boom shattered older career paths. When Netscape's IPO in August 1995 created instant millionaires, earlier Indian leaders like Raj Gupta were still methodically advancing through structured hierarchies, while entrepreneurs like Jay Chaudhry were building cybersecurity companies. Chaudhry's path from air force engineer in India to founder of multiple Silicon Valley security companies—including Zscaler, worth $45 billion—exemplified how the tech boom rewarded risk-taking over institutional loyalty. After selling his first three companies for hundreds of millions, his willingness to keep founding startups rather than settling into corporate roles became a hallmark of this entrepreneurial generation. Starbucks' flagship store in Mumbai, India. Starbucks' flagship store in Mumbai, India. Business Wire This blend of adaptability with disciplined execution appears repeatedly in ghSMART's data, where Indian executives demonstrate unusual success transitioning from technical roles to strategic leadership. The disruptions created the perfect environment for executives trained in uncomfortable zones. While traditional American CEOs struggled with accelerating change cycles, many Indian executives had already spent their formative years navigating constant change. Their success wasn't despite India's chaos—it was because they had learned to thrive within it. As global business became increasingly complex and networked, companies began recognizing that skills forged in India's fragmented landscape translated directly into competitive advantages for managing modern enterprises. Cross-Cultural Management Skills When Coco Chanel opened her millinery shop in Paris in 1910, when Fred Smith described his overnight delivery concept in an undergrad economics paper at Yale in 1965 or when Howard Schultz launched a coffee shop in Seattle in 1971, none could have imagined the global enterprises their ideas would spawn. Yet by the time Indian CEOs took the reins of these brands—Chanel, FedEx and Starbucks—their success required navigating organizations that had exploded far beyond their founders' visions. When Narasimhan took over as Starbucks CEO in 2023, he inherited a global empire requiring systematic operational management across vastly different cultural contexts. Leena Nair became Chanel's first Indian CEO in January 2022 after three decades climbing through Unilever's human resources organization. Her appointment shattered assumptions about who could lead brands where cultural mystique seemed paramount. "If somebody told me I would have the chance to do what I'm doing today, I would not have believed them," Nair told The Wall Street Journal shortly after taking the job. While she said her previous role had been "about mass, mass, mass—get it out there. This is about rarity, precious, fewer. It's a completely different world." Imran Amed and Leena Nair, right, speak onstage at a #BoFVOICES event at Soho Farmhouse on November 28, 2023, in Chipping Norton, England. Imran Amed and Leena Nair, right, speak onstage at a #BoFVOICES event at Soho Farmhouse on November 28, 2023, in Chipping Norton, England. Samir Hussein/Getty for BoF Raj Subramaniam succeeded Smith as only the second CEO in FedEx's 53-year history after spending three decades mastering the operational complexity Smith had created. Nooyi transformed PepsiCo during her tenure as CEO from 2006 to 2018, building her "Performance with Purpose" strategy through systematic stakeholder engagement rather than marketing intuition, increasing annual profits from $2.7 billion to $6.5 billion. Neal Mohan followed similar patterns to become YouTube CEO in 2023, inheriting responsibility for managing content policies across global markets where cultural missteps trigger international incidents. Born in Indiana, he moved to India with his family at age 12. He studied electrical engineering at Stanford, worked for the consulting giant Accenture, switched to the tech field and eventually ended up at the online advertising giant DoubleClick before it was acquired by Google. Mohan's path through Google's product management ranks, developing advertising technologies and scaling digital platforms before taking the reins at YouTube, provided more relevant preparation than traditional media industry experience. This generation of Indian executives faced a particular challenge in consumer-facing roles: translating their systematic, analytical approach into the kind of compelling narratives that Western business culture would value. YouTube CEO Neal Mohan (center) with influencers Julian Shapiro Barnum (left) and Haley Kalil at YouTube Brandcast 2025 on May 14, 2025, at David Geffen Hall in New York City. YouTube CEO Neal Mohan (center) with influencers Julian Shapiro Barnum (left) and Haley Kalil at YouTube Brandcast 2025 on May 14, 2025, at David Geffen Hall in New York City. Noam Galai/Getty for YouTube "People like Shantanu [Narayen] and Satya [Nadella] have overcome this," notes Raghuram. "In the human race, the only time you're able to get a large group of people to do something is to tell a story. It's an acquired skill and not a skill taught in schools." Instead, they excelled through taking "extra cycles trying to build and get people to come along with you." This patient coalition-building may have lacked theatrical flair, but it proved more effective for navigating global brands' complex stakeholder environments. This leadership style reflects not just personal preference but historical necessity. ghSMART found Indian CEOs are 1.4 times more likely than their peers to excel at customer orientation, applying systematic analysis to understanding consumer needs rather than relying on instincts and tastes that can only be acquired by being seeped inside a cultural enclave. Companies needed executives who could balance competing interests of boards, employees, customers, communities and shareholders simultaneously. The 2019 Business Roundtable statement abandoning shareholder primacy for stakeholder capitalism formalized what successful executives had already recognized: The days when charismatic founders could mandate cultural transformation through executive decree had ended. Kumar describes this approach through his experience at Cognizant: "I have a strong belief that growth lies in heterogeneity. Surround yourself with people who are not like you and figure out a way to work with people you disagree with." Similarly, BK Kalra, CEO of enterprise technologies firm Genpact, who built software teams across cultural boundaries, emphasizes building trust gradually: "My personal brand and ethos were around being authentic with clients and having trustworthy relationships with them." These capabilities proved more valuable than cultural insider knowledge as brands globalized. Managing Chanel's expansion into Asian markets, navigating FedEx's regulatory challenges across multiple continents or scaling YouTube's content policies while maintaining brand consistency demanded the kind of cross-cultural management skills that Indian executives had developed growing up managing what Piyush Gupta describes as "multiple different kinds of people, different languages, different religions, different ethnicities." Raj Subramaniam, center, rings the opening bell at the New York Stock Exchange on April 17, 2023, in New York. Raj Subramaniam, center, rings the opening bell at the New York Stock Exchange on April 17, 2023, in New York. Seth Wenig/AP But even as this generation demonstrated they could lead traditional Western brands through globalization, a different phenomenon was emerging. A new cohort was rejecting Western corporate structures entirely, choosing to build wealth within India as the country transformed into an elite destination. Gravity's Pull to India Consider two IIT graduates in 1995, both ranked at the top of their computer science classes as the dot-com boom was just beginning. One accepts a software engineering position at Netscape in Silicon Valley, arriving just as Marc Andreessen's web browser company prepares to go public and transform internet commerce forever. The other takes a promising role at Infosys in Bangalore, joining the growing ranks of Indian engineers building enterprise software and preparing for the looming Y2K crisis. Who would you bet has a greater net worth today? In 1995, the answer seemed obvious. The Netscape engineer would surf successive technology waves, accumulating equity stakes that India couldn't match. The Infosys engineer would build a solid IT services career but nothing approaching Silicon Valley's wealth creation potential. After India's economic liberalization in 1991, when the weight of the staggering rules, permits and licenses needed to do almost anything in India—what was called the "License Raj"—was lifted, everything changed. The country's venture capital ecosystem grew from nearly nothing in 2000 to $38.5 billion by 2021. Mumbai's stock exchanges began competing with NASDAQ for wealth creation opportunities. Sridhar Vembu exemplified this transformation. After earning his electrical engineering Ph.D. from Princeton in 1994, he received lucrative Wall Street and Silicon Valley offers but instead returned to India to build Zoho Corporation. Working from a rural Tamil Nadu village, the "barefoot billionaire" now runs a global SaaS empire worth $5.85 billion. But he isn't the only one. Similarly, the Flipkart founders Sachin and Binny Bansal left Amazon's Seattle offices in 2007 with about $10,000 in savings to build India's e-commerce giant, which they sold to Walmart for $16 billion in 2018. Razorpay founders Harshil Mathur and Shashank Kumar, Y Combinator alumni and IIT Roorkee graduates, tackled India's fragmented payment infrastructure and achieved net worths exceeding $1 billion each by age 33. Workers carry packages in an inventory storage area at the Flipkart fulfilment centre on September 10, 2024, in Malur on the outskirts of Bengaluru, India. Workers carry packages in an inventory storage area at the Flipkart fulfilment centre on September 10, 2024, in Malur on the outskirts of Bengaluru, India. IDREES MOHAMMED/AFP via Getty All these billionaires share key characteristics: unquestionable global mobility through elite credentials, insight to identify uniquely Indian problems as billion-dollar opportunities; and timing to ride India's post-2000 acceleration. They created business models adapted to Indian realities—Flipkart's cash-on-delivery, Razorpay's complex banking navigation—requiring deep cultural knowledge unavailable through Stanford case studies. Established Influence When Raj Gupta started at Cornell in the '60s, Indian executives leading major American corporations seemed impossible. By 2022's CNBC-TV18 roundtable marking 75 years of Indian independence, Watsa could confidently declare: "India, the next 10 years are going to be dramatic. It is the best place to invest." This trajectory from exclusion to influence, captured in these four waves, reflects not cultural programming but strategic navigation of evolving global opportunities. But this extraordinary seedbed of talent may not last forever. China produces more engineers annually than India, while automation threatens traditional technical roles. Yet that concern may be unfounded. Indian executives demonstrate unusual success transitioning from technical to strategic leadership—a capability that becomes even more valuable as corporations require both technological sophistication and stakeholder management expertise. Garcetti's diplomatic jest about CEO appointments becoming exclusively Indian overstates the phenomenon, but his underlying observation holds: "People have come and made a big difference." The collective impact of Indian executives extends beyond individual success stories to fundamental transformation of corporate leadership itself. They demonstrated that operational excellence transcends cultural assumptions, that coalition-building creates more sustainable organizations than charismatic authority and that patient capital allocation often outperforms quarterly optimization. And as Vembu's choice of rural Tamil Nadu over Silicon Valley suggests, the next chapter may reverse traditional mobility patterns entirely. The question facing the fifth wave isn't whether Indian executives can lead global corporations—that's settled. Instead, it's whether the specific historical conditions that created this phenomenon can be replicated elsewhere, and whether India can maintain its talent pipeline while other countries develop competitive educational and institutional advantages.
Newsweek
8 minutes ago
- Newsweek
Satellite Photos Show Where China Is Building World's Biggest Hydro Dam
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Satellite imagery gives a glimpse of the site where China has commenced construction on what will become the world's largest dam and China's most ambitious infrastructure project since the Three Gorges Dam. Newsweek reached out to the Chinese Foreign Ministry and Power Construction Corporation of China via email for comment outside of office hours. Why It Matters The mega dam will boost China's green energy output and put the country a step closer to achieving President Xi Jinping's goal of reaching carbon neutrality by 2060—although China remains the world's largest emitter of greenhouse gases. The controversial project has raised environmental and geopolitical concerns due to its impact on one of Asia's most biodiverse river systems and the millions who depend on its water downstream in India and Bangladesh. What To Know The groundbreaking for the mega-project, which has an estimated cost of around $168 billion, took place on Friday at the southern reaches of the Yarlung Tsangpo River in Mainling, Nyinchi City, in the southwestern region of Tibet. Using images of the event published by Chinese state media, open-source intelligence analyst Damien Symon was able to geolocate the construction site, he wrote Tuesday on X. The site can be seen in the following images, captured by the ESA's Sentinel-2 satellites on July 11, 2025. Imagery captured by the ESA's Sentinel-2 satellites on July 11, 2025, shows the site of a groundbreaking ceremony where China's Medog mega dam—the world's largest hydropower project—will be built on the Yarlung Zangbo River in... Imagery captured by the ESA's Sentinel-2 satellites on July 11, 2025, shows the site of a groundbreaking ceremony where China's Medog mega dam—the world's largest hydropower project—will be built on the Yarlung Zangbo River in its southwestern Tibet region. More Copernicus China's No. 2, Premier Li Qiang, who attended Friday's ceremony, hailed the undertaking as the "project of the century" and stressed that measures must be taken to prevent ecological damage, state media reported. However, India and Bangladesh have expressed concerns that the dam will affect downstream water flows, fisheries, and flood risks. Indian officials have highlighted the potential threat to local livelihoods and regional stability if river flows are altered without consultation. The Yarlung Tsangpo River becomes the Brahmaputra in India and then the Jamuna in Bangladesh, serving as a critical freshwater source for millions. Imagery captured by the ESA's Sentinel-2 satellites on July 11, 2025, shows the site of a groundbreaking ceremony where China's Medog mega dam—the world's largest hydropower project—will be built on the Yarlung Zangbo River in... Imagery captured by the ESA's Sentinel-2 satellites on July 11, 2025, shows the site of a groundbreaking ceremony where China's Medog mega dam—the world's largest hydropower project—will be built on the Yarlung Zangbo River in its southwestern Tibet region. More Copernicus What People Are Saying Brahma Chellaney, professor of strategic studies at the Centre for Policy Research in New Delhi, on X: "China's super-dam will disrupt the Brahmaputra's natural flow of nutrient-rich sediment from the Himalayas—a lifeline for the river's ecological health. "The super-dam will also disrupt the Brahmaputra's natural flooding cycle, which sustains fisheries and rejuvenates overworked soils. Without the seasonal delivery of silt, the floodplains of Assam and Bangladesh will lose their natural fertility." What Happens Next The Medog dam will comprise five cascade hydropower stations and is expected to begin operating sometime in the 2030s. Once it does, the project eclipses the output and scale of China's colossal Three Gorges Dam. The initiative, managed by the newly formed state-owned China Yajiang Group, aims to produce up to 300 billion kilowatt-hours of renewable electricity annually—on par with the amount of electricity in the United Kingdom last year.
Business Upturn
36 minutes ago
- Business Upturn
Tata AIA Tops MDRT Rankings in India for Third Year in a Row
Tata AIA Life Insurance has secured the top position among Indian life insurers in the Million Dollar Round Table (MDRT) rankings for the third consecutive year, while also advancing to the 4th spot globally. The achievement reflects the company's strong advisor network and consistent performance in driving premium life insurance solutions. By Riddhima Jain Published on July 23, 2025, 14:04 IST Tata AIA Life Insurance Company Ltd. has secured the top position in India for the number of Million Dollar Round Table (MDRT) members for the third consecutive year. The company reported 2,871 MDRT qualifiers in 2025, an 11% increase from 2,584 members last year. Globally, Tata AIA has advanced to the 4th position from 6th in 2024, and it has retained the 7th position in terms of female MDRT membership. The number of female MDRT members rose to 1,343, marking an 8.5% year-on-year growth. MDRT membership is recognized as a benchmark of excellence in the life insurance and financial services industry. Tata AIA attributes this performance to its Premier Agency model and the professional development of its advisors. The company reported that its MDRT advisors have contributed to high persistency metrics. In FY 2024-25, Tata AIA ranked first in four out of five persistency cohorts, including the key 13th-month persistency rate. Tata AIA is a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. It reported a total premium income of ₹31,484 crore in FY25 and ranks among the top three private insurers in Individual Weighted New Business Premium. The MDRT rankings are based on the count of registered insurance agents, as per MDRT's official listing. Ahmedabad Plane Crash
