KOLKATA Kolkata: Swiggy on Thursday said it is optimistic about growth in quick commerce amid increasing competition from rich players and said it has grown amid intense competition over the past decade. In an interview to PTI, Swiggy's CEO Food, Rohit Kapoor acknowledged the possibility of Jio's entry into the hyperlocal delivery market as a competitor, but stressed that building a successful business in this sector requires more than just capital.
Speaking on competitive dynamics, Kapoor said that although funding is important, it is not the sole determinant of long-term success, citing examples of well-capitalized players in India that failed to establish a sustainable presence.The official said “Great businesses have not happened in India simply by having a lot of capital,” he said, adding that success depends on many other elements.
“You need a strong ability to recruit top tech talent, and this is something that traditional companies often struggle with. “Beyond talent, there is a deep understanding of the Indian consumer – which we have seen in kitchens across the country,” Kapoor said. “Developed from over a decade of experience in food delivery, it is essential.” Considering Swiggy’s experience in the food delivery landscape, the company said agility and quick decision-making are important to remain competitive. The official explained, “ Our penchant for speed allows us to launch a new category quickly, whereas others may take months to finalize their plans,” he said, highlighting the company's proactive approach in an industry where consumer Expectations are high and competition is intense.
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