Indian Economy News

Indian corporations poised to become large brand owners in US: OYO founder Mr. Ritesh Agarwal

Indian corporations are poised to become significant brand owners in the United States, marking a new phase in India’s global economic influence, according to OYO Founder and CEO Mr. Ritesh Agarwal. Speaking at an event in New York, OYO founder Mr. Ritesh Agarwal said Indian brands are increasingly positioned to shape consumer perceptions of India beyond traditional associations with Bollywood and information technology services. Emphasising the role of technology in this transformation, the statement further highlighted that India hosts the second-largest workforce base for major US technology companies collectively known as FAANG companies (Meta, Amazon, Apple, Netflix and Google). Additionally, the statement noted that the growing technological capabilities of Indian enterprises are enabling them to compete effectively in international markets and establish globally recognised consumer brands.

Highlighting OYO’s international expansion, the statement noted that the company now generates its highest sales from the United States and has emerged as the largest economy hotel brand owner in the country following its acquisition of G6 Hospitality, the parent company of Motel 6. The acquisition, completed in 2024 for Rs. 4,347 crore (US$ 525 million) significantly strengthened OYO’s footprint in North America and underscored the increasing confidence of Indian companies in pursuing overseas growth opportunities. The statement further expressed optimism that more Indian consumer-focused businesses would invest internationally and build strong global brands in the coming years. Additionally, the statement highlighted that the success of Indian enterprises abroad would enhance India’s soft power and reinforce the country’s growing influence in the global economy, stating that “India’s time is now”.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.