Tier Ii - Iii

Ola Electric to expand sales, service network to 4,000 outlets on Dec 25

Ola Electric on Thursday said it will expand its sales and service network to about 4,000 outlets on December 25. With over 3,200 new stores complementing its existing footprint, the Bengaluru-based firm is bringing its portfolio of electric vehicles (EVs) closer to consumers across metros, Tier-2, and Tier-3 towns, Ola Electric said in a statement. The company has launched #SavingsWalaScooter campaign, an initiative to bring EVs closer to every Indian household, it added. Co-located with service facilities, these stores will ensure customers receive sales and after-sales support, it added. "By leveraging its direct-to-consumer (D2C) model, Ola is ensuring that EV ownership becomes a reality for every household, breaking barriers to adoption and offering relief from rising petrol prices and high cost of ownership of ICE vehicles," the company said. Ola has recently expanded its product portfolio with the launch of Gig and S1 Z scooter ranges. With introductory prices starting at

Govt eyes smaller cities for GCC growth with new incentive framework

The policy aims to extend GCC growth beyond metro hubs by offering tax breaks, regulatory clarity, and incentives for specialised centres in Tier-II and III cities

Indian mid-segment hotels enjoy competitive edge against int'l peers

Flexible contracts with suppliers and access to cost-effective cloud solutions are giving home-grown mid-segment hotel brands a competitive edge against international counterparts in India, according to a whitepaper by cloud-based hospitality technology solutions provider Hotelogix. According to the whitepaper, home-grown mid-market brands with small inventory can experience rapid growth in tier II, III, and IV cities, as it is exceedingly challenging for international brands to establish operational capabilities in those areas where 80-85 per cent of demand is domestic. India's home-grown mid-segment hotel brands control about 60 per cent of the total branded rooms available in the country, it mentioned. These domestic mid-market brands have also begun exploring management contracts and franchise models as a growth strategy, providing a significant competitive advantage over international chains, it said. Being Indian brands, they understand local people, culture, and tradition ..

Radisson to further expand presence in Tier-II, -III cities: Nikhil Sharma

We will close this year with 130 operating hotels and add almost 20 operating hotels next year, said Nikhil Sharma, MD, South Asia, Radisson Hotels group

ShopDeck raises $8 mn to support sellers across Tier-II, -III cities

This capital will drive ShopDeck's mission to empower small and mid-sized businesses, many of which are emerging brands exploring D2C for first time, to achieve profitability and scale

Tier-II and Tier-III cities fuel festive season sales: ClickPost report

There has been a 49% increase in online sales during the festive season, a 10 per cent growth over the 39% witnessed in 2023, according to a report by logistics intelligence platform ClickPost

Housing sales in 30 major tier II cities down 13% in Jul-Sep: PropEquity

Housing sales across 30 major tier-II cities fell 13 per cent to 41,871 units during July-September period on higher base effect and drop in new supply, according to PropEquity. Data analytic firm PropEquity, which is part of listed entity P E Analytics Ltd, on Monday released the housing report of top 30 tier II cities. Sales in top 30 tier-II cities have fallen by 13 per cent in July-September quarter of 2024 while new launches have declined by 34 per cent. Housing sales fell to 41,871 units in the third quarter of 2024 calendar year as against 47,985 units in the same period last year. Launches (new supply) fell to 28,980 units in July-September quarter of 2024 from 43,748 units in the same period last year. The west zone comprising Ahmedabad, Vadodara, Gandhinagar, Surat, Goa, Nashik and Nagpur, contributed 72 per cent to the total sales. Commenting on the data, Samir Jasuja, CEO & Founder, PropEquity said, "The decline in sales and launches is on account of higher base effec

Festive season: Amazon sees majority of customer visits from tier-2 cities

E-commerce firm Amazon India on Tuesday said that 80 per cent of customer visits on the platform in the first 48 hours of its annual festive season sale came from tier-2 and other smaller cities. The Amazon Great Indian Festival sale started on September 27, 2024, with 24-hour early access for Prime members. "The Amazon Great Indian Festival witnessed a record 11 crore customer visits in the first 48 hours of Amazon Great Indian Festival 2024 with 80 per cent hailing from Tier-2 and below towns," Amazon said in a statement, terming the demand from these towns as "encouraging". More than 75 per cent of all smartphone sales, about 80 per cent of all TV orders, and over 60 per cent of orders in the fashion and beauty segment came from tier-2 and beyond cities, it said. The sale also turned out festive for sellers on Amazon, with SMBs (Small and Medium-sized Businesses), including women entrepreneurs, weavers, and artisans, selling over 1,500 units every minute during the first 48 hour

Accel Atoms 4.0 to invest up to $1 mn in startups focused on 'Bharat', AI

Global venture capital firm Accel on Wednesday announced the launch of Accel Atoms 4.0, the fourth edition of its pre-seed scaling programme, Accel Atoms, that offers chosen startups up to USD 1 million funding along with perks of over USD 5 million from Accel network partners. Accel Atoms 4.0 builds on the success of three previous editions, and is designed to make the journey as frictionless as possible for visionary founders and promising entrepreneurs operating in the two distinct cohorts of AI and Bharat, the VC firm said in a release. Accel Atoms 4.0 is inviting applications from two categories of pre-seed startups - those building for Bharat', and AI (Artificial Intelligence), it said. Applications for the programme open on September 16. Accel defines Bharat' as the middle-income households spread across Tier 2, Tier 3, and rural India. Startups at the pre-seed stage, including idea-stage and pre-product companies, are eligible to apply for this rigorous three-month hybrid .

SBI's mega tier II debt issue may boost fundraising via such notes: Bankers

On Wednesday, India's largest lender SBI raised Rs 7,500 crore ($894.1 million) through 15-year tier II bonds, with a 10-year call option at 7.42 per cent coupon

SBI raises Rs 7,500 cr via tier 2 bonds to meet regulatory needs, others

May look at another round of Tier II bond issuance as yields soften

Luxury car brands expand footprint as demand from Tier II-III cities rise

The decision to expand into South India is a strategic move, driven by the region's rapid growth in the sports car segment, with Bangalore alone witnessing a 35 per cent increase

Tier-II,-III cities can contribute to Karnataka's economic growth: CII

The 'Beyond Bengaluru' initiative is expected to empower Tier-II and Tier-III cities by enhancing the ease of doing business, implementing skilling programmes, and promoting energy efficiency

Tier-2 cities continue to see steady growth in hiring activities: Report

Hiring in tier-II cities showed consistent growth trends compared to metropolitan areas during May, mainly led by cities such as Kochi, Coimbatore, and Jaipur, which have emerged as key hiring locations, a report said on Wednesday. "It is remarkable to note the flourishing performance of tier-II cities in terms of hiring, outpacing their metropolitan counterparts. These cities have showcased consistent upward trends, particularly driven by the Production and Manufacturing sector, where we are witnessing a surge in recruitment," foundit (previously Monster APAC & ME), a Quess company, CEO Sekhar Garisa said, quoting the foundit Insights Tracker (fit). He said, this can be attributed to several factors, including infrastructural development, favourable government policies, and a burgeoning talent pool eager to contribute to India's industrial landscape. "It's evident that tier-II cities are becoming increasingly attractive hubs for businesses seeking expansion opportunities and ...

MG Motor India looks to expand network in tier III, IV to boost growth

MG Motor India is driving towards tier III and IV cities of the country with plans to establish 100 new touchpoints by the end of the ongoing fiscal year as part of its strategy to fuel the next phase of growth, a senior company official said on Wednesday. With JSW Group coming in as an investor and becoming a joint venture partner with China's SAIC, last month the company announced plans to invest Rs 5,000 crore and had set a target of selling one million units of passenger electric vehicles in India by 2030 when the total market is expected to be 10 million units annually. The company is targeting 520 sales and service touchpoints overall in 270 cities by the end of 2024-25. "There is a very clear roadmap...we have put in place which we are calling as MG 2.0, the next phase of growth for MG Motor India," MG Motor India Chief Commercial Officer Satinder Singh Bajwa told PTI. As part of that, the company has set plans for enhancing production capacity and more model introduction go

SBI Card to raise up to Rs 2,000 crore in capital via Tier II bonds

CRISIL Ratings has assigned its "AAA/Stable" rating to the Rs 2,000 crore non-convertible debentures and Rs 2,000 crore lower Tier II bonds

30 major retail brands entered 14 Tier-II cities during Jan-Sep: Report

More than 30 major retail brands opened their stores in 14 Tier-II cities during the January-September period of last year, according to property consultant CBRE. In its report 'Tier-II Cities: The Time to Shine' released on Tuesday, CBRE said that several domestic and international retail brands, including Croma, Armani Exchange, Malabar Gold & Diamonds, Reliance Smart, Tanishq, H&M, Marks & Spencer, GAP, Starbucks, Pizza Express and Under Armour, have expanded their retail footprint to Tier-II cities. The Tier-II cities are Chandigarh, Jaipur, Indore, Goa, Mangalore, Kochi, Lucknow, Patna, Ranchi, Guwahati, Bhubaneshwar, Vizag, Mysore and Coimbatore. The total retail real estate space in these 14 Tier-II cities stood at 29 million square feet as of September 2023, with Jaipur, Lucknow, and Chandigarh each boasting of retail real estate space ranging between 3 to 7 million square feet, as per the report. The retail development in these cities has been a healthy mix of ...

After 4 yrs of decline, insurers ramp up presence in smaller cities in FY23

According to the latest data released by the Insurance Regulatory and Development Authority of India (IRDAI), during 2022-23, the presence of life insurers rose by nearly 3.5 per cent year-on-year

Bank of Maharashtra raises Rs 259 cr at 7.99% through tier-II bonds

The issue had a base size of Rs 250 crore and a greenshoe option of Rs 750 crore

3,294 acres acquired since Jan 2022 for residential projects: JLL report

Tier-II and -III cities accounted for 44.4% (1,461 acres) of the total land area transacted in the country