Every global brand wants to be in India: OYO CEO Ritesh Agarwal

Highlights

1. Ritesh Agarwal, CEO of OYO Rooms, encourages global companies to consider India for business expansion, citing favorable government policies and a conducive business environment.
2. Agarwal highlights India’s evolution from being known as the ‘back office for the world’ to becoming the ‘talent capital for the world,’ emphasizing its growing appeal for global brands.
3. Agarwal issues a direct message to businesses worldwide, stating that those overlooking India in their expansion strategies are potentially missing out on significant opportunities.

In a recent statement, Ritesh Agarwal, the Founder and CEO of OYO Rooms, a globally recognized hospitality chain, has urged international companies to consider India as an ideal destination for business expansion. Agarwal, also renowned as a judge on ‘Shark Tank India,’ conveyed his sentiments through a post on the social media platform X.

Highlighting the favorable business environment and government policies in India, Agarwal emphasized that the present moment presents an opportune time for global companies to establish their presence in the country. He stated, “Today, every global brand wants to be in the country.”

Agarwal also reflected on India’s remarkable journey on the global stage, transitioning from being known as the ‘back office for the world’ to becoming the ‘talent capital for the world.’ He underscored India’s growing appeal as a destination for international brands and startups.

Sending a clear message to businesses worldwide, Agarwal urged them not to overlook India in their expansion plans. He cautioned, “If you are a global brand or a startup or a business and India is not on your radar, you are probably missing out greatly.”

In line with Agarwal’s advocacy for India as a business hub, OYO Rooms disclosed its financial performance for the third quarter of the fiscal year 2024. The company reported a profit after tax (PAT) of Rs 30 crore, building on its successful track record with a PAT of over Rs 16 crore in the preceding quarter of the same fiscal year.