Table of Contents
What has happened?
- Tata Group’s super app Tata Neu is set for launch on April 7.
- The company made the announcement through a teaser image on the app’s Google Play Store page.
- It had started publicly advertising the super app for the first time along with the ongoing Indian Premier League tournament. So far, the app has been restricted for use only for the Tata Group employees.
What is Tata Neu?
- Tata Neu is the conglomerate’s super app that brings together all of its digital services and apps on a single platform.
- On its Play Store page, the app’s description reads: “Consume cutting-edge digital content, make payments, manage your finances, plan your next holiday or perhaps just your next meal – there’s lots to explore and experience in the world of Tata Neu”.
Services available on tata Neu
- Various Tata Group digital services such as booking flight tickets
- on AirAsia India, Air India or booking hotels at Taj Group properties, ordering groceries from BigBasket, medicines from 1mg, or purchasing electronics from Croma and apparel from Westside will be possible through Tata Neu app.
- For spending on the app, the company will reward its users with Neu Coins that will be redeemable on the services being provided through the app.
Super apps in India
- Several other internet conglomerates such as Amazon, Paytm, Reliance Jio have built their versions of super apps, where they provide a bouquet of services such as payments, content streaming, shopping, travel bookings, groceries, etc.
Why Indian companies want super apps?
- A country or a region becomes super app-ready when a large base of its population is smartphone first instead of desktop, and the ecosystem of apps customised to local needs is not evolved.
- India has already become a market where a majority of those experiencing the internet for the first time are making transactions on their mobile phones.
- This is one of the main reasons why Indian companies are looking at building super apps.
- Apart from increased revenue realisation due to consolidation of services at one place, such apps also provide companies with large swaths of consumer data which can then be harnessed to learn more about user behaviour.
- The group is expected to make an what is being described as an “interim investment” of around $500 million as Tata Digital needs to expand aggressively,
- In order to take on entrenched incumbents like Amazon Inc, Wal-Mart, besides Reliance Group’s Jio platforms.
- “This fund infusion of $500 million would be done in multiple tranches,” said a person familar with the matter.
- Tata Digital has estimated a valuation $ 18bn plus for the digital entity, which includes Big Basket, online pharma store 1 mg, Croma and Tata Cliq.
- Investors are however keen to assess the scale of revenues or gross merchandise value that Tata Digital can offer within a year if operations.
conclusion
- Tata Group’s future growth strategy will be based on four themes – digital, new energy, supply chain resilience, and health, Tata Sons chairman N Chandrasekaran has said.
- “Our companies are already adapting to these changes…Our new pilots and businesses, from 5G to TataNeu and Tata Electronics, are poised to benefit from our themes going forward,“ Chandrasekaran said.
Q) Which among the following does not come under Secondary activity?
- Iron & Steel works
- Flour Mills
- Fruit canning
- Mining
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