Tag: digital economy

Business

India’s Food Services Market Set to Hit US$125 Bn by 2030: Swiggy–Kearney Report

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral Business Desk

India’s food services market is entering a high-growth decade, projected to surpass US$125 billion by 2030 according to the newly released “How India Eats 2025” report by Swiggy in partnership with Kearney. The organized food services segment is expected to grow twice as fast as the unorganized sector and contribute more than 60% of the industry’s total expansion, marking a significant shift in how India consumes food.

This growth is being shaped by rising incomes, rapid digital adoption, and a growing appetite for convenience as consumers explore more cuisines than ever before. The report highlights a 20% rise in unique cuisines ordered per customer and a 30% rise in the number of restaurants from which they order. Late-night meals are growing three times faster than dinner orders, driven by indulgent categories like pizzas, cakes and soft drinks, while healthier choices such as high-protein and low-sugar meals are expanding at 2.3 times the rate of overall orders.

India is also rediscovering hyper-regional cuisines including Goan, Bihari and Pahari dishes, which are growing up to eight times faster than mainstream options. Traditional beverages like buttermilk and sharbat are surging, prompting global brands to localize with India-inspired innovations.

Simultaneously, global cuisines such as Korean, Vietnamese and Mexican are becoming mainstream, matched by soaring interest in Boba Tea and Matcha. Industry leaders note how Gen Z, growth beyond major metros, and innovations in delivery formats are reshaping market dynamics. With QSRs and cloud kitchens projected to grow at over 17% CAGR and restaurants increasingly prioritizing digital marketing, affordability and speed continue to drive competition.

The report suggests the next decade of leadership will belong to players who balance convenience, experience and innovation as India’s food culture expands in every direction.

Special Occasion

It’s 11.11: Singles’ Day 2025

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

It’s 11.11: Singles’ Day 2025 marks one of the most anticipated dates on the global calendar — a day that blends shopping, self-love, and cultural celebration. What started in the 1990s as a lighthearted student holiday in China has become the world’s largest online shopping event. The date, 11.11, chosen for its four solitary digits, symbolizes individuality and self-empowerment.

By 2009, Alibaba transformed Singles’ Day into a shopping spectacle, encouraging people to treat themselves. Over time, it expanded far beyond China’s borders. In 2025, Singles’ Day has grown into a multi-week retail extravaganza, with discounts, livestreams, and global participation from major platforms like JD.com, Lazada, and Shopee. This year’s festival features advanced AI-driven recommendations, virtual influencers, and interactive shopping experiences that redefine digital commerce.

But 11.11 isn’t just about shopping — it’s about cultural expression. On the same day in South Korea, millions celebrate Pepero Day, exchanging slender, chocolate-dipped biscuits that resemble the four “1”s in the date. What began as a simple marketing campaign in the 1990s has become a national day of affection, where couples, friends, and even classmates gift Pepero sticks to show love and appreciation.

In 2025, Pepero Day has gone global, with Stray Kids taking center stage as the official global ambassadors for Pepero. Their campaign — “Show Your Love with Pepero” — has captivated fans worldwide, featuring special edition packaging, pop-up events, and global marketing spanning cities from Seoul to New York. The K-pop group’s energy and connection with Gen Z have amplified Pepero Day’s reach, transforming it from a local tradition into an international celebration of love and friendship.

Together, Singles’ Day and Pepero Day turn November 11 into a global celebration of connection in every form — self-love, friendship, and romance. While shoppers in China fill virtual carts, people in South Korea fill hearts (and hands) with chocolate. The parallel celebrations highlight how one date can carry entirely different yet harmonious meanings across cultures.

In 2025, Singles’ Day reflects changing consumer behavior. With economic challenges reshaping spending habits, shoppers are becoming more mindful, prioritizing essentials, personal care, and quiet luxury. Livestream hosts and influencers continue to play a major role, blending entertainment and commerce, while sustainability takes center stage with eco-friendly packaging and greener logistics.

From shopping carts to chocolate boxes, November 11 symbolizes the joy of giving — to others and to oneself. It’s 11.11, and the world is celebrating in its own unique way — with deals, with love, and with a shared sense of connection that transcends borders.

Business

ICICI Bank to Begin Charging UPI Fees for Payment Aggregators from August 1, 2025

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In a move that could significantly reshape India’s digital payments landscape, ICICI Bank has announced it will introduce fees for payment aggregators on UPI (Unified Payments Interface) transactions, starting August 1, 2025.

This means that platforms acting as intermediaries—such as payment gateways and digital wallets—will now incur charges for processing UPI transactions through ICICI Bank infrastructure. While the bank has yet to publicly disclose the fee structure, the development is seen as a pivotal moment for India’s highly active and fast-growing digital payment ecosystem.

Why It Matters
India’s UPI system, developed by NPCI (National Payments Corporation of India), has so far offered zero-fee transactions to consumers and merchants, with banks and aggregators absorbing operational costs. However, with the sharp increase in transaction volumes and rising infrastructure costs, banks have long debated the need to monetize backend UPI services.

Implications for Fintech & Merchants
Payment aggregators like Razorpay, Paytm, PhonePe, and others may now need to adjust pricing models or absorb the costs, potentially affecting small businesses and merchants who rely on low-cost digital payment solutions.

Analysts say this move might also trigger a trend where other banks follow suit, bringing the long-standing debate on UPI monetization into the spotlight.

Consumer Impact
As of now, the fee is expected to apply only to payment aggregators, not end consumers. However, if aggregators pass on the costs, small transaction-based fees could become the norm in some segments.

Looking Ahead
This decision comes amid broader discussions by the Reserve Bank of India and NPCI about the sustainability of India’s digital payments infrastructure. ICICI Bank’s move will likely influence policy direction and business strategies in the months ahead.

Stay tuned to Allycaral for updates on how this change evolves and what it means for consumers, fintech platforms, and the Indian economy.