Prosus invested $8.6 billion in India, says CEO Bloisi

BENGALURU: Netherlands-based global tech investor Prosus invested over $8.6 billion in India, making it one of its strategic markets, CEO Fabricio Bloisi said in a letter to shareholders on Thursday.The update follows Swiggy’s IPO last year and a recent investment in the ride-hailing platform Rapido, which Bloisi said is growing over 100% year-on-year and facilitating…

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Rural FMCG growth tops urban

MUMBAI: Urban consumption, which has been under pressure on the back of high inflation that pushed consumers to cut back on spending, “decelerated” further in the March quarter, weighing on the volume growth of companies, NielsenIQ said in its quarterly FMCG snapshot on Thursday.Rural demand boosted spending on lotions, shampoos, and detergents, even as high…

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