Home / Business and Economy / Urban Company Wins Top Startup Honor, GST Reforms Shake Up Delivery Sector
Urban Company Wins Top Startup Honor, GST Reforms Shake Up Delivery Sector
5 Sep
Summary
- Urban Company named Startup of the Year at ET Startup Awards
- GST cuts drive 30% surge in online festive sales, but burden delivery firms
- Tata plans leadership change at BigBasket, Warburg eyes stake in Candere
The 2025 edition of India's prestigious ET Startup Awards saw Urban Company emerge as the Startup of the Year, beating out rivals like Porter, Rapido, and Groww. The on-demand home services platform's win marks a major milestone for the company under Tata ownership.
In other news, the recent reforms to the Goods and Services Tax (GST) are expected to drive a 30% surge in online festive sales this year, after a slowdown in the previous quarter. Fintech firms and lenders are anticipating a 5-20% rise in transaction volumes due to the tax cuts. However, delivery platforms Zomato and Swiggy are facing an annual burden of up to ₹200 crore on their delivery fees.
Elsewhere, Tata is preparing for a leadership transition at its BigBasket subsidiary. After nearly five years at the helm, CEO Hari Menon is set to exit day-to-day operations, paving the way for a new chief. Additionally, Warburg Pincus, which exited Kalyan Jewellers last year, is now in talks to acquire a 10% stake in the company's omnichannel brand, Candere, for ₹850 crore.
