30.1: Retracing Our Past – A Journey Through 29 Newsletters
From Andrea Lovato’s Journey Launching FlixBus in India to Matilde Giglio’s Vision to Revolutionize Healthcare
Hello Kula Community,
To follow up on last week's recap newsletter on what we have learned so far, here is the recap of the different interviews and newsletters we have published!
Interviews Recap
01: Exploring Flix's Expansion Strategy in India with Andrea Lovato, Head of Operations India at Flix
Starting with the transportation industry, we spoke to Andrea Lovato Head of Ops for Flix India during our first Interview. Andrea shared with us the reasons that led Flix to launch in India, and why in 2024, reinforcing our belief in the attractiveness of India to foreign investments
Easiness to obtain transportation authorization
Democratic country with low entry barriers for the transportation market
A fragmented market, resulting from a lack of cooperation among various regional operators, which poses significant challenges for those seeking to operate on a national scale
02: Francesco Volpe's Journey: Accompanying Macron to India's State Visit and Forging Bonds in the Indian Nuclear Energy Sector
We had the pleasure of learning about Francesco Volpe, a physicist-turned-entrepreneur and co-founder of Renaissance Fusion, a Grenoble-based startup advancing nuclear fusion technology for clean energy.
France’s nuclear focus aligns with Renaissance Fusion’s vision, earning recognition from President Macron, who invited Francesco on a state visit to India during its 75th Republic Day celebrations.
India’s Opportunity: Francesco highlighted India’s need for sustainable energy solutions amid rapid growth, seeing fusion technology as a key to clean, scalable energy.
03: Unlocking Coumar Ananda's Insights: Expanding Your Indian Business in France
We spoke to Coumar Ananda, vice president at CCIFI and a professional who has spent three decades facilitating business connections between India and France
Key synergies of Indo-Europe landscape: Fashion to promote India’s culture, Bio-tech driven by the expertise of European pharma industries & techies of India, and Europe’s urge to participate in India’s film bazar.
France a good fit for Indians: With the required capabilities and needed capacities, France is a perfect fit for the Indian business willing to grow and expand.
05: Building Sarla Aviation: Adrian Schmidt's Venture in Democratizing Urban Air Mobility in India
Imagine soaring over Mumbai's gridlocked streets, reaching your destination faster and cleaner. That’s the future Adrian Schmidt and his co-founders at Sarla Aviation are building with India’s first electric vertical take-off and landing (eVTOL) aircraft.
Urban Air Mobility for India: Sarla aims to make aerial travel accessible and eco-friendly, easing congestion in cities like Delhi and Mumbai.
Why India?: With rising demand for alternative transport, supportive policies, and an untapped market, India offers the perfect launchpad for Sarla’s innovation.
Affordable Solutions: Sarla’s focus on affordability and proven technology ensures safe, cost-effective solutions tailored to India’s needs.
06: Exploring the Indo-Italian Business Landscape through Piero Guizzetti's eyes
We featured Piero Guizzetti, an Italian entrepreneur who moved to India in 2006 and founded his consulting firm to help Italian and European companies expand into the Indian market. Here’s the key Takeaways 🔎
Italy-India Relations: Italy is the 17th largest investor in India, with 600+ Italian companies operating in the country.
India’s Growth: With a young population and a consumer-driven economy, India presents huge investment opportunities.
Investment Shift: Italian companies now view India as a key destination for foreign direct investment rather than just cheap labor.
Market Approach: Piero’s firm, Value Prism Consulting, recommends a gradual, research-driven approach for navigating India’s diverse market.
07: Insights into Indo-French Trade Dynamics from the Former IFCCI President, Sumeet Anand
We exclusively interviewed Mr. Sumeet Anand, the former president of IFCCI to explore the transformation of India's global perception and the flourishing trade relations between India and France over the past decade.
Radical Transformation of India : India’s FDI has doubled to $83bn in last decade from 2014 thanks to the proactive government with an international growth vision
Indo-French trade: Trade has doubled from €6.8bn in 2013 to €13.4bn in 2023 due to huge domestic demand, ability to procure locally, availability of human labor and strategic partnerships
Challenges and Opportunities for SMEs: Growth potential for SMEs relies on enhanced collaboration and capacity-building initiatives particularly tailored to the needs of SMEs.
09: How a German entrepreneur redefined the KPO market in India: Alexander Henn’s story
We explored India’s thriving Knowledge Process Outsourcing (KPO) industry with Alexander Henn, CEO of Squared Circle, a Bangalore-based company providing end-to-end e-commerce solutions for global brands.
India’s Services Growth: With $254.5B in services exports and a 5M+ workforce, India leads the way in IT and BPO, positioning itself as a global tech and innovation hub.
India’s KPO Leadership: India dominates 70% of the KPO industry, offering a vast, English-speaking talent pool for global opportunities.
Emerging E-commerce Trends: Growth is driven by digital adoption, especially in fashion and grocery, with rising FMCG demand shaping new opportunities.
Government Support: Initiatives like the India BPO Promotion Scheme and NEBPS are creating jobs and fostering balanced growth in the IT/ITeS sector.
10: Leopold Lindner's Journey as Chief of Staff/CFO for a Start-up Introducing Osteoporosis Treatments in India
We explored Leopold Lindner’s journey as Chief of Staff & CFO at German Osteo Care, a healthcare startup tackling osteoporosis in India.
Osteoporosis in India: With 61 million Indians affected—many 10–20 years earlier than in the West—India faces a significant healthcare challenge. Yet, awareness is shockingly low, with only 10–15% of the population recognizing the disease.
German Osteo Care’s Approach: The company introduced high-quality treatments and facilitated knowledge transfer to local doctors. However, the low awareness and low priority for osteoporosis presented unique hurdles.
Cultural Adaptation: Leo’s experience underscores the importance of navigating hierarchical structures, understanding indirect communication, and fostering trust to succeed in India’s business environment.
11: Deep dive into the Defense Sector in India with Avnish Patnaik, ex-deputy director and lead at Society of Indian Defence Manufacturers (SIDM)
We spoke with Avnish Patnaik, former Deputy Director at SIDM, about the evolving defense landscape in India.
Self-Reliance Shift: India is moving from import dependence to indigenous manufacturing, with initiatives like "Make in India" driving growth. The 2024 defense budget is around $70 billion, ranking India third globally.
Policy & Export Growth: FDI relaxations and reforms like DPP 2016 have boosted defense exports, increasing from Rs 1,521 crore in 2016-17 to Rs 21,083 crore in 2023-24.
Challenges: Stakeholder dynamics, including the defense public sector, still pose challenges to indigenization efforts, though domestic suppliers won Rs 2.23 trillion in recent acquisitions.
13: Navigating Venture Capital and PropTech in Europe and India
We explored the worlds of Venture Capital and PropTech with Aditya Srivastav, now working at Kalaari Capital in Bangalore, an ESCP alumnus with hands-on experience in both regions.
VC Landscapes: While European and Indian VC funds follow similar processes, their market dynamics are worlds apart, shaped by distinct regulatory frameworks and consumer needs.
PropTech Innovation: The booming PropTech market, set to reach $89.93B by 2032. Europe focuses on energy-efficient tech, while India's rapid urbanization spurs IoT and mobile-first innovations.
Global Expansion: Aditya emphasized how Indian startups are strategically entering US markets for funding and growth and this left us wondering—how can Europe become more attractive to these ambitious players?
14 Exploring Growth Opportunities Across India and Europe: The Rise of Global Competence Centers in India
In our conversation with Simone Ciampi from Exprivia, we discovered how Global Competence Centers (GCCs) are revolutionizing operations for multinational companies. These hubs centralize back-office services, IT infrastructure, and innovation, making them a cornerstone for cost efficiency and excellence.
India’s GCC Boom: With over 1,600 centers already established and 1.66M employees in the sector, India is set to hit 1,900 GCCs by 2025.
Why India? Skilled talent, favorable policies, and competitive labor costs are drawing tech giants like Microsoft and SAP to set up shop.
Simone also shared insights on the China + 1 strategy—why companies are diversifying to India as an alternative to China’s rising costs and geopolitical risks. His advice? Partner with trusted local entities, avoid half-measures, and commit fully to your Indian strategy.
15: “Italy meets South India”: how Alfonso Tagliaferri, the Consul General of Italy in Bangalore, is fostering cooperation with Italy in South India
We had the pleasure of speaking with Alfonso Tagliaferri, the Consul General of Italy in Bangalore. South India, he emphasized, is brimming with potential:
Bangalore: A global tech hub leading India’s foreign direct investment (FDI) scene.
Chennai and Hyderabad: Emerging as hotspots for automotive, biotech, and fintech innovation.
Government Incentives: Tax holidays, Special Economic Zones, and infrastructure investments make it easier than ever to enter these markets.
Of course, challenges like bureaucracy and regional regulation quirks persist. But Alfonso insists these are manageable with the right approach: building relationships, understanding local nuances, and preparing for long-term commitment.
17: Matilde Giglio's Journey in Founding Even and Solving Healthcare for 1.4 Billion People in India
We explored the inspiring journey of Matilde Giglio, an Italian entrepreneur who co-founded Even, a healthcare startup that’s transforming healthcare access for over 1.4 billion people in India.
Matilde’s Journey: After her entrepreneurial venture and venture capital experience, Matilde’s role as Head of Digital for Rahul Gandhi’s political campaign gave her key insights into India’s healthcare gaps, sparking her mission to improve access.
Healthcare Access in India: With only 37% of Indians covered by health insurance, many face financial strain from medical costs. India’s $12 billion healthcare insurance market is growing, driven by favorable policies like 100% FDI in healthcare and mandatory employee health insurance.
Even’s Growth: Even provides consultations, tests, and diagnostics through in-house doctors and partner clinics. In 2023, the company hit $12M in revenue, serving over 60,000 clients with a 97% retention rate.
Success Drivers: Even’s success comes from a strong team with healthcare and insurance expertise and strategic partnerships with clinics, hospitals, and insurance companies to enhance service delivery.
18: Empowering Girls’ Futures: The Journey of Alessandro Bordoli Funding Education Access
We talked about girls' education in India with Alessandro Bordoli, the founder of Education Access, an organization dedicated to providing scholarships for girls in rural India.
Rural Education Challenges: In rural India, about 40% of girls drop out before the 5th grade due to early marriages, gender biases, and limited access to quality education. Economic hardships and poor infrastructure add to these barriers.
Education Access's Impact: Since its inception, Education Access has funded 389 years of study, supported 28 schools, and employed over five local staff members.
Empowering Through Local Support: The organization’s ground team plays a vital role in providing scholarships ($100-200 each) and ensuring local decision-making, while volunteers across Europe and the US handle fundraising.
19: Exploring Cultural Bridges with Carlo Pizzati, an International writer living in India.
We explored the softer side of Indo-European relations with Carlo Pizzati, a journalist and writer who has spent over 16 years living in Tamil Nadu. His reflections offer valuable insights into the cultural bridges and gaps between these two vibrant nations.
Similarities: Both India and Italy share a deep appreciation for family, food, and expressive communication. Family is central to both cultures, while cuisine is more than sustenance—it’s a source of pride and a symbol of affection. Italians and Indians also approach conversations with an energy and expressiveness that feels uniquely their own.
Differences: Religion plays a defining role in Indian daily life, with spirituality always present in routines and traditions. In Italy, religion has gradually become more of a cultural artifact than an active spiritual force, influenced by modernity and secularization.
In business, Carlo emphasized the importance of patience and adaptability when dealing with India’s often rigid bureaucratic processes. While timelines may stretch, building genuine relationships and trust is the cornerstone of successful collaboration.
Carlo’s takeaway? Understanding and respecting these cultural subtleties will not only open doors but also create lasting bonds.
21: Strategic Insights and a Case Study on Business Expansion in India with Adriano Ceci Neva from Relations at Work (RAW)
When it comes to real-world application, the story of NTK Europe stands out. In collaboration with RAW Advisory, NTK overcame challenges in the hydraulic components industry to establish a strong local presence.
Here’s how they did it:
Lease, Don’t Buy: NTK funded advanced machinery and leased it to Indian suppliers, ensuring quality production without heavy upfront costs.
Build Trust Through Partnerships: A joint venture evolved into a fully-owned facility as NTK gained confidence in the market.
Adapt to Market Needs: Local production reduced costs, improved efficiency, and aligned with India’s price-sensitive consumer base.
The lesson? Success in India requires a balance of strategic investment, alignment with local partners, and adaptability.
Key Lessons for Expanding in India
Understand the Market: India is not a monolith. Regional diversity means strategies must adapt to local preferences.
Localize Production: To succeed in India’s price-sensitive market, produce locally to cut costs and align with consumer expectations.
Invest in Relationships: Trust and cultural sensitivity are essential for building strong partnerships.
Patience Pays Off: From bureaucracy to infrastructure gaps, the journey can be challenging, but the long-term rewards are immense.
22: Jean-Noël Gracie: Connecting the Indian agricultural fields with French expertise in animal feed
We shared insights from Jean-Noël Gracie, Managing Director at Techna India, a French company supporting feed manufacturers in optimizing the feed for a better nutrition more sustainable.
Techna is present in around 50 countries through 11 subsidiaries across Europe, North and West Africa, and Asia providing expertise in livestock farming techniques, precision nutrition, and natural health solutions for both animal and plant production.
Agricultural Market in India: India is a powerhouse in agriculture, with the largest livestock population globally. The sector is expected to reach US$ 24 billion by 2025. India leads in milk production, contributing 24.64% of the world’s milk, and is the second-largest producer of white leg shrimp.
Key Challenges: Jean-Noël highlights several obstacles, such as climate change, sustainability, regulatory complexities, and heavy antibiotic use in animal feed, which need to be addressed for long-term growth and profitability.
23: How can French companies navigate India’s complex regulatory environment? Léa Parmantier French Desk ASA
In this newsletter, we shared insights from Léa Parmantier, Head of the French Desk at ASA Corporate Catalyst India, a consulting firm supporting French businesses in navigating India's complex market.
ASA Corporate Catalyst India has over 32 years of experience helping international companies set up operations in India, specializing in business development, market entry strategies, and fostering Indo-French trade relations.
Opportunities in India: Despite strong bilateral ties, French companies still trail behind their German counterparts in terms of market presence. However, India’s growing manufacturing sector, driven by initiatives like Make in India, makes it an attractive destination for French firms, particularly in sectors like renewable energy, digital technologies, and manufacturing.
Key Challenges: Léa emphasizes the impact of a recent Supreme Court ruling on the MFN (Most Favored Nation) clause in the India-France tax treaty, which has raised tax rates on repatriated funds. She also discusses regulatory hurdles such as the FEMA regulations and Foreign Direct Investment (FDI) policies, which are critical for companies looking to expand in India. Additionally, Léa advises companies to build strong local partnerships and take a long-term approach to succeed in the Indian market.
25: A Journey Through Luxury in India <> Europe | Anish Singh’s Story
We spotlight the story of Anish Singh, the founder of Bhartiya Paris Club, an NGO based in Paris aimed at promoting exchange between the Indian and European luxury and craftsmanship sectors.
India’s Luxury Heritage: India boasts a 3,000-year history of luxury, deeply rooted in craftsmanship, textiles, and jewelry, with influences from religious traditions and historical eras like the Mughal period.
Challenges to Growth: The Indian luxury market faces obstacles such as limited retail infrastructure, strong competition from local craftsmanship, and high import duties, which increase the cost of luxury goods.
Luxury Market Growth: Despite these challenges, India’s luxury market is on track to grow 3.5 times by 2030, making it the fastest-growing luxury market globally.
27: Why France is the next best destination for startups | The story of Adaptive me
We highlight the story of Geetanjali and Titash, an entrepreneurial couple from India, running Adaptiv.ME an ed-tech startup to help students and professionals
🤖 The Future of Work: Generative AI is geared to boost the global economy upto $4.4 trillion especially in customer service, marketing, software development, and R&D, which will drive most of this growth
🇫🇷 Why France: France is investing €2.2 billion in AI to attract top talent. Paris ranks high among European tech hubs, and the French Tech Visa has helped over 1,200 companies hire international employees.
💡 Opportunities for Entrepreneurs: Beyond Fintech and AI, CultureTech in France is an emerging area.
29 - Axel Angeli: Pioneering India-Europe Tech Collaborations
Axel Angeli has become a key figure in promoting European-Indian collaborations. As Ambassador for ESC, Axel organizes annual delegations to Indiasoft and plays an instrumental role in building lasting business relationships between India and Europe.
Export Promotion Councils: India has 41 government-backed councils that aid exporters by organizing trade fairs, offering market research, and facilitating connections with foreign businesses. These councils play a key role in enhancing trade relationships, with ESC focusing on electronics and software exports and EEPC on the engineering sector.
Indiasoft Expo: India’s largest technology exhibition. The upcoming 25th edition in March 2025 will showcase India’s growing tech capabilities and serve as a hub for global networking and partnerships, attracting over 50,000 visitors and 1,500 exhibitors
Growth in Exports: India’s exports of computer software and services surged from US$ 135 billion in 2018-19 to US$ 193 billion in 2022-23, with North America and Europe being key markets. The electronics sector also saw significant growth, with India becoming a major hub for smartphone production and export.
As we look back on 30 newsletters, we are reminded of the incredible journey we've shared and the lessons we've learned along the way.
Thank you for being a part of this community, and we look forward to the next chapter with you. Here's to many more stories, insights, and connections ahead!