Ritesh Agarwal, the founder and CEO of OYO Rooms, a global hospitality chain, stated that the current period presents an opportune moment for international companies to establish operations in India, benefiting from the country’s favorable business environment and government policies.
In a post on X, Mr. Agarwal, also known for his role as a judge on ‘Shark Tank India,’ expressed that India has become a coveted destination for global brands. He highlighted India’s evolution from being a global back office to becoming a hub of talent on the global stage.
“If you are a global brand, startup, or business, and India is not part of your plans, you are likely missing out,” he emphasized.
OYO Rooms, a prominent player in the hospitality and travel-tech sector, reported a profit after tax (PAT) of ₹30 crore in the third quarter (Q3) of the previous fiscal year. This success followed a profitable second quarter (Q2) of FY24, during which the company achieved a PAT exceeding ₹16 crore.
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