<ul><li><keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> on Friday announced that he will be donating all his ESOP proceeds worth ₹700 crore to the <keyword id="13839926" type="General" weightage="20" keywordseo="zomato-future-foundation" source="Orion">Zomato Future Foundation</keyword>.</li><li>The foundation will cover the education of up to two children of all Zomato delivery partners who have been with the company for five years.</li><li>It would also offer educational and livelihood support for the families of all delivery partners who meet “unfortunate circumstances” on duty.</li></ul><keyword id="3378387" type="General" weightage="20" keywordseo="zomato-founder" source="Orion">Zomato founder</keyword> and chief executive officer (CEO) Deepinder Goyal on Friday (May 6) announced that he will donate all his employee stock option plan (ESOP) proceeds worth ₹700 crore to Zomato Future Foundation, which will be used towards offering free education to the children of delivery partners, among other things. Goyal made this announcement in an email sent to the employees of the company. “Right before we went public, I was granted some ESOPs by our investors/ board basis my past performance. Some of these ESOPs vested last month (because there’s a minimum 1 year vesting required as per law). At the average share price over the last month, these ESOPs are worth ~$90m (~₹700 crores),” Goyal said in the letter, seen by Business Insider. The Zomato Future Foundation will cover the education of up to two children, up to ₹50,000 per child per annum on actuals, of all Zomato delivery partners who have been with the company for more than five years. The amount will increase to ₹1,00,000 per child per annum for partners who have been associated with the company for ten years. The company will also introduce special programs for girl children and offer prize money to girls who complete 12th grade and graduation, Goyal said in the email to Zomato employees. Besides this, the company would also offer educational and livelihood support for the families of all delivery partners who meet “unfortunate circumstances” such as accidents while on duty. <cmsannotation type="cmsannotation" annotationid="This is what Zomato’s Deepinder Goyal said in the email:" comment="subhead" text="This is what Zomato’s Deepinder Goyal said in the email:">This is what Zomato’s Deepinder Goyal said in the email:</cmsannotation> Hi team – right before we went public, I was granted some ESOPs by our investors/ board basis my past performance. Some of these ESOPs vested last month (because there’s a minimum 1 year vesting required as per law). At the average share price over the last month, these ESOPs are worth ~$90m (~₹700 crores). Here’s my plan for these ESOPs – I am donating all the proceeds from these ESOPs (net of taxes) towards the Zomato Future Foundation (ZFF). The ZFF will cover - <ul><li>Education of up to two children of all Zomato Delivery Partners, up to Rs 50,000 per child per annum on actuals ( above a certain service quality benchmark ) who have been on our fleet for more than 5 years. This amount will go up to ₹1,00,000 per child per annum if the Delivery Partner completes 10 years with us.</li></ul><ul><li>Service thresholds of 5/10 years will be lower for Women Delivery Partners. We will also have special programs for girl children and introduce “prize money” if a girl completes 12th grade, as well as her graduation.</li></ul><ul><li>Higher education scholarships over and above these limits for children with higher performance and potential</li></ul><ul><li>Educational and livelihood support for the families of all our Delivery Partners (irrespective of service tenure) who meet with unfortunate circumstances such as accidents, while on the job</li></ul>This is just the start. As and when needed, we will keep expanding and re-evaluating the scope of this Foundation to benefit our ecosystem further. Again, 100% of the proceeds of this ESOP vesting cycle are committed towards ZFF. To reap the most benefit for ZFF, and protect the interests of our shareholders, I do not intend to liquidate all these shares immediately, but over the next few years. For the first year, I will liquidate less than 10% of these ESOPs towards this fund. ZFF is also going to be open to donations from other Zomato employees. We are also going to explore other fundraising opportunities for the ZFF. We will also set-up an independent governance board for the Zomato Future Foundation. I hope you are as excited as me for the opportunity to give back to our society in a meaningful way. I am especially pumped for what this Foundation will do for our Delivery Partner’s children – I believe that education is the one and only thing that can give them a chance to build a life much better than their previous generations. I also hope that some of these kids grow up to leading the charge at various businesses that we build within Zomato over time, in addition to starting new companies that change the future course of our country. Cheers, Deepi SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms" data-type="tilCustomLink">New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore</a> <a href="https://www.businessinsider.in/stock-market/news/ril-tvs-motor-voltas-among-stocks-to-watch-out-for-on-may-6/slidelist/91362043.cms" data-type="tilCustomLink">RIL, TVS Motor, Voltas among stocks to watch out for on May 6</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts</a>

Deepinder Goyal donates his Zomato stock options worth ₹700 crore to offer free education for delivery partners’ children and more

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s founder and CEO <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> was given ESOPs worth ₹387 crore in the second half of FY2022.</li><li>However, he did not create any wealth out of it as he donated ESOPs worth ₹700 crore in May.</li><li>Goyal had also forgone his salary for three years and did not earn anything in FY2022.</li></ul>Zomato’s founder and CEO Deepinder Goyal received shares worth ₹387 crore under the employee stock option plan (ESOP) in the second half of fiscal year 2022. However, he does not personally gain from it. Goyal <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms#:~:text=Zomato%20founder%20and%20chief%20executive,delivery%20partners%2C%20among%20other%20things">donated all his ESOP proceeds worth ₹700 crore</a> to Zomato Future Foundation last month, which will be used towards offering free education to the children of delivery partners and other initiatives. This included the ESOPs allocated to him in the second half of 2022. <cmsannotation type="cmsannotation" annotationid="Not taking any salary till FY2024" comment="subhead" text="Not taking any salary till FY2024">Not taking any salary till FY2024</cmsannotation> Additionally, he also waived off his salary for the entire year that ended in March. He had also taken a pay cut owing to the COVID-19 pandemic. Goyal earned a basic salary of <a href="https://www.businessinsider.in/business/startups/news/checkout-zomato-top-executives-salaries-including-co-founder-and-ceo-deepinder-goyal/slidelist/82289352.cms#slideid=82289373">₹1.96 crore in FY2021</a>, compared to ₹3.5 crore earned in the previous year. As Zomato was preparing for its public debut last year, Goyal announced that he will not be taking any money home for the next three years, as salary. “Deepinder Goyal has voluntarily waived his remuneration for a period of 36 months starting from April 1, 2021 and shall continue to discharge his roles and duties as Managing Director and Chief Executive Officer during this period,” the company had said in its IPO papers. <cmsannotation type="cmsannotation" annotationid="How much did others earn?" comment="subhead" text="How much did others earn?">How much did others earn?</cmsannotation> Zomato — in its regulatory filings on Bombay Stock Exchange (BSE) — revealed that it has incurred an expense of ₹778 crore in salaries and other benefits like ESOPs between October 2021 and March 2022. Here is how much Zomato’s top management earned in the latter half of FY2022: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Designation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ESOP </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepinder Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Founder and CEO of Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹386 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akshant Goyal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CFO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹50 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sandhya Sethia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company Secretary </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kaushik Dutta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Namita Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aparna Popat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gunjan Tilak </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sutapa Banerjee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Director </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N.A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh </td></tr></tbody><tbody></tbody></table>Source: Zomato’s filing on related party transactions Notably, CFO Akshant Goyal had also forgone his salary for the months of January, February and March. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/home-loan-rates-enter-red-zone-will-dent-affordable-and-mid-segment-sales-the-most/articleshow/92079341.cms" style=""></a><a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms" style="">YouTube channel to a billion dollar company — India’s first profitable edtech unicorn is here</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-amazon-flipkart-reliance-and-tata-neu-indias-133-billion-ecommerce-market-may-be-too-little-for-a-fifth-player/articleshow/92062540.cms">After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player</a> <a href="https://www.businessinsider.in/business/ecommerce/news/india-will-have-more-ecommerce-users-by-2025-than-us-population/articleshow/92062424.cms">India will have more ecommerce users by 2025 than US’ population</a>

Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021

<keyword id="10387" type="General" weightage="80" keywordseo="microsoft" source="Orion">Microsoft</keyword> Chairman and CEO <keyword id="276564" type="General" weightage="50" keywordseo="satya-nadella" source="Orion">Satya Nadella</keyword> on Wednesday highlighted the importance of driving inclusivity and empowerment through technology and economic growth and asserted that the company is "very committed to <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>". He was speaking at Microsoft's Tech for Good and Education showcase, an event that highlighted the impact created by technology in the areas of philanthropic work and education. <keyword id="2045946" type="General" weightage="100" keywordseo="nadella" source="Orion">Nadella</keyword> did a walk through, interacting with teachers, students and professionals who are making a difference in the society, by leveraging various Microsoft programs, initiatives and tools. "Looking at what you all have done, your passion, imagination and ingenuity is truly inspiring. One of the things that keeps me grounded is seeing our mission in action," Nadella said. Microsoft's top boss further said the Wednesday's event underlined that technology and economic growth are not an end, rather a "means to an end that we all aspire for." He urged the participants to think of growth in terms of social inclusivity. "Inclusive growth... if I think about what it means for economic growth to include everyone. Today's examples all around are tremendous...how do we make sure whatever growth we have, is aligned with the planet because that is one finite resource...or trust in technology..." he said. He advocated the cause of "technology making a difference in community", and exhorted the participants to keep pushing the company to do more in helping achieve that mission. Microsoft, he said "is very very committed to India", and went on to add that the company is investing in the country. "When we think about Make in India, we are investing, it is the largest place where we have our own human capital, we have our data centres, all of these Artificial Intelligence capabilities that are being used in all application, are all in some sense Made in India," Nadella said. He added: "Now the question is what else is India making with all of our technology." Societal outcomes are never about one institution or one organisation alone, but a collective effort, he said emphasising that he would in fact "shy away from anyone who claims they can do it all". "It is not just that we are making in India but everybody else is making in India, and that is what is going to help us reach all corners of the country," he said. Nadella shared his vision on the role technology can play in achieving the mission of empowering every person and every organisation to achieve more. "Ultimately it is about being able to have all people participate, and leverage each other's skills, technologies and effort so we can transform our community and society," he said pledging his commitment towards inclusivity and empowerment of people. Nadella, who is on a four-day visit to India had addressed <keyword id="15953288" type="General" weightage="50" keywordseo="microsoft-future-ready-leadership-summit" source="Orion">Microsoft Future Ready Leadership Summit</keyword> in Mumbai on Tuesday. He is also scheduled to visit Bengaluru and Hyderabad this week, and will be meeting customers, startups, developers, educators and students, and key Government representatives during his India visit. The Microsoft honcho is also scheduled to meet IT Minister later in the day. Nadella, in his address on Tuesday, had said digitisation initiatives in India and the work with digital public goods have been extraordinary, as he highlighted cloud and artificial intelligence among imperatives driving technology-based economic growth in India. During a keynote address at the Microsoft Future Ready Leadership Summit in Mumbai, Nadella had shared his vision for a tech-enabled India, and highlighted how the cloud will be foundational to scaling India's digital journey and how Microsoft is innovating across the tech stack to support the country's ecosystem of developers, startups and companies across every industry. Hyderabad-born Nadella had also lauded the way in which India is building public digital infrastructure for public good. SEE ALSO: <a href="https://www.businessinsider.in/business/news/zomato-bharatpe-nykaa-and-more-the-revolving-door-for-top-execs-at-new-age-companies/articleshow/96728402.cms">Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies</a> <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">BharatPe CEO Suhail Sameer to step down, Nalin Negi to take over in the interim</a> <a href="https://www.businessinsider.in/business/auto/news/december-auto-sales-fall-below-expectations-even-as-tata-motors-mm-post-strong-growth/articleshow/96686550.cms">December auto sales fall below expectations even as Tata Motors, M&amp;M post strong growth</a>

Satya Nadella advocates driving inclusivity, says Microsoft is very committed to India

<ul><li>India is the second largest market of freelance professionals in the world, after the United States. That accounts for nearly 15 million professionals in the country. </li><li>Despite the growth, women refrain from pursuing gig work. </li><li>That is majorly because of the gender disparity in terms of pay, flexibility and employment status. </li><li>There are at least two surveys that explain the lag in the labour reforms for women. </li></ul>India is the second largest market of freelance professionals in the world, after the United States. That accounts for nearly 15 million professionals in the country. In fact, as India Inc moves to evaluating an ‘alternative workforce model’ with <keyword id="7771650" type="UNKNOWN" weightage="20" keywordseo="gig-workers">gig workers</keyword> and freelancers, the demand is only going to rise. But despite the growth, women refrain from pursuing gig work. That is majorly because of the gender disparity in terms of pay, flexibility and employment status — that prevails in the <keyword id="3080230" type="PERSON" weightage="20" keywordseo="gig-economy">gig economy</keyword> as well. This also reflects in the <keyword id="4476046" type="COMPANY" weightage="20" keywordseo="female-labour">Female Labour</keyword> Force Participation Rate (FLPR) in India, which has been falling for two decades now. There are at least two surveys that explain the lag in the labour reforms for women. In 2018, a survey said that a third of women were disinterested in joining the gig economy due to the lack of job security and uncertainty on employment status. Pay parity still a concern In addition to this, they are being paid less, widening the gender parity. A research by <a href="https://www.orfonline.org/wp-content/uploads/2020/05/ORF_IssueBrief_359_GenderGig.pdf">Observer Research Foundation (ORF)</a> reiterates the data from TeamLease in India that said the gig economy added 40,000 women in 2019. But, they are making 10% less than men, especially the delivery executives. The same year, the <keyword id="119211" type="COMPANY" weightage="20" keywordseo="Ministry-of-labour">Ministry of Labour</keyword> and Employment proposed the Code on Social Security Bill, to offer social security benefits to gig workers. On those lines, Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> on May 14, said that social security schemes will now be extended to even gig and platform workers, the proposal is awaiting approval of the Parliament and the Standing Committees. It is important because food-tech and e-commerce players such as Uber, Ola, Zomato and Swiggy, account for nearly 90% of the total gig workers in India. On an average, women make an average of ₹15,000 to ₹30,000 per month in the emerging gig economy. “This could be attributed to their income being of the ‘distressed’ category. Consequently, as soon as conditions improve, women leave the workforce — this phenomenon is widely visible in India’s informal economy as well,” said the ORF report. Limited access to digital technologies That aside, the lag in the access to digital technologies is yet another hurdle to women’s participation in gig work. Despite the country’s push for digitisation, merely 16% women in India use mobile internet, as per the findings of the GSMA Mobile Gender Gap Report 2019. To overcome that, many companies offer their own devices to facilitate work. “The gig economy is here to stay and offers many ways for women to start and improve their careers. However, the problem in India is twofold: an inability to facilitate women’s movement into the workforce, and the perpetuation of structural and operational barriers promoting gendered division of gig work,” said the report. Future scope As per Deloitte data, nearly 80% of the organisations have less than 10% of their employees as gig workers, accounting majorly to <keyword id="2245174" type="PERSON" weightage="20" keywordseo="Contractual-staff">contractual staff</keyword>. India’s gig economy is projected at a market size of $455 billion over the next three years — which might increase even further with the new-found interest. “A large majority of this is expected to be contributed by the unorganised sector of the economy, as India Inc's adoption of gig workers remains nascent at best,” the Deloitte report said. See also: <a href="https://www.businessinsider.in/business/corporates/news/more-employees-at-capgemini-infosys-and-wipro-are-being-brought-back-to-offices-while-tcs-is-still-in-wait-and-watch-mode/articleshow/75691940.cms">More employees at Capgemini, Infosys, and Wipro are being brought back to offices while TCS is still in wait and watch mode</a> <a href="https://www.businessinsider.in/india/news/from-minimum-wages-for-all-to-social-security-for-gig-workers-these-are-the-broad-outlines-of-upcoming-labour-reforms-in-india/articleshow/75733790.cms">From minimum wages for all to social security for gig workers ⁠— these are the broad outlines of upcoming ‘labour reforms’ in India</a>

Indian women don’t like being gig workers ⁠— the potentially $455 billion industry has to woo them with fair pay to start with

<ul><li>The most common financial mistake is forgetting that the earlier you start, the easier it is to reach your goals. It is like laying the foundation for your future.</li><li>By avoiding some <keyword id="3187694" type="General" weightage="20" keywordseo="financial-mistakes" source="Orion">financial mistakes</keyword>, you can save more over time and achieve long term financial goals easily.</li><li>Here are 8 mistakes you can rectify to help you balance your finances.</li></ul>The 30s are a crucial period of one’s life. At this point in life, most of you must be juggling several things at the same time -- making the last few payments of your student loan, saving for a wedding or even planning to start a family, slogging for a promotion and so on. In this phase, most of you have started taking additional responsibilities that would require you to be financially stable. For this, you need to be disciplined with your savings and investments for the long term and avoid common money mistakes. Here are 8 <keyword id="12005793" type="General" weightage="20" keywordseo="common-financial-mistakes" source="Orion">common financial mistakes</keyword> that one can easily avoid in their 30s: Getting into credit card debt Yes, credit cards are convenient and do offer attractive benefits to buy bigger stuff like a car or so. But if you are using it for every single shopping purpose, it means you are making it a habit and getting into a debt trap. If you think this is a hoax, just check the enormous amount of interest rates charged by credit cards especially if you miss an equated monthly installment (EMI). It can feel like a solution at the moment but at the end of the day, it is just making you fall in debt more and more. Delaying investments Whether you have started investing or not, you must have come across names like billionaire investor Warren Buffett, Peter Lynch and Indian investors like Rakesh Jhunjhunwala, Radhakishan Damani. Interestingly, Buffett started investing when he was 11 years old. This is not to tell you to do the same. Starting to invest regularly would also do the work. The sooner you invest in equities, the more time you have to earn returns. And the more time you get, more returns are earned. Suppose you started investing ₹10,000 every month in a mutual fund with an expected return rate of 10%. After 10 years you have ₹20.65 lakh. Lack of financial goals Not setting goals is the biggest mistake people can make in their 30s. Setting up goals provides a certain financial direction to your life. It sets up timelines for achieving great things in life such as financial independence, buying a home, having kids and starting a business etc. Avoiding retirement savings Saving for retirement may sound too boring and unnecessary at this age. But with the growing age of life expectancy and if you plan to retire at 60, means you have 3 decades to save for your retirement. And imagine what a regular investment in these 3 decades can do to your retirement. Delaying the thought of saving for retirement will negatively impact your ability to accumulate sufficient savings for your golden years after retirement. Not keeping track of your spending The biggest mistake of all is not keeping a track of your expenses. Mindless spending can destroy your wealth over time. The key to accumulating more savings is by spending less on unnecessary things and saving it for the future. There are tons of mobile applications for free that help you manage your budget and master your cash flow. Use it and keep a tab on where your money is going. Ignoring insurance It is difficult to think about sickness and life threatening incidents at this stage in life, but the truth is you need to be prepared to protect yourself and your loved ones from such situations. Just buying a term life insurance policy can provide good financial security for your loved ones. In addition to it, you can also start buying health insurance for your family members. Conservative investment approach In your 30s you have plenty of time to take risks that you wouldn't in the age of 50. You can allot more of your portfolio to more volatile investments like equities and real estate for that matter, which generally requires 5-10 years to deliver strong returns. You can also make a balanced portfolio of either 60% equity and 40% fixed income investment. Also, if you do not understand investments as such, you can consult a financial advisor. Not creating an emergency fund In your 30s, you have more responsibilities and liabilities than your 20s like household expenses, loans etc. This is why it becomes crucial to avoid the mistake of not having a financial plan in place for unexpected emergencies like COVID-19, job loss, expenses for house repairs etc., by creating an emergency fund for 6 months. This can be your 6 months’ salary you have saved for a rainy day. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/uber-has-ola-zomato-has-swiggy-but-whos-urban-company-competing-with/articleshow/85835674.cms">Uber has Ola, Zomato has Swiggy but who’s Urban Company competing with?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/skit-which-helps-barbeque-nation-and-axis-bank-automate-call-centres-has-raised-23-million-in-funding/articleshow/85834063.cms">Skit, which helps Barbeque Nation and Axis Bank automate call centres, has raised $23 million in funding</a>

Common financial mistakes to avoid in your 30s

<ul><li>The world was waiting to see two of the planet's richest men speak to each other and while they delivered some headlines, there was little chemistry to show.</li><li>Despite the multi-million dollar deal between the two companies, <keyword id="10437346" type="UNKNOWN" weightage="20" keywordseo="zuckerberg-and-ambani">Zuckerberg and Ambani</keyword> were asking each other questions that should have ideally been answered before their partnership. </li><li>Here are the highlights of the 40-minute conversation between two of the richest men in the world.</li></ul>Two of the richest men in the world, <keyword id="624769" type="PERSON" weightage="20" keywordseo="Facebook-CEO-Mark-Zuckerberg">Facebook CEO Mark Zuckerberg</keyword> and <keyword id="705208" type="POSITION" weightage="20" keywordseo="Reliance-Industries-Chairman">Reliance Industries chairman</keyword> <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, agree on one thing. If the pandemic had hit even five years earlier, India would not have been ready. However, the headlines were few and far between. Their individual dispositions were exemplified by the lack of chemistry between the two of them during the last session of Facebook's <a href="https://www.facebook.com/watch/live/?v=1851422635011183&amp;ref=watch_permalink">Fuel for India 2020</a> conference. In fact, it seemed like the two of them didn’t know each other as well as business partners should, considering the massive amount of money <a href="https://www.businessinsider.in/business/news/mukesh-ambani-gave-google-and-facebook-a-discount-on-reliance-jio-stake-heres-why/articleshow/77032126.cms">Facebook has invested in Jio.</a> Both Ambani and Zuckerberg praised each other and asked questions that, one would suppose, would have been addressed before the investment was made. The chat between <a href="https://www.businessinsider.in/business/corporates/news/microsoft-top-boss-satya-nadellas-conversation-with-mukesh-ambani-asias-richest-man/articleshow/74278962.cms">Microsoft chief Satya Nadella and Ambani</a> was a bit more free-flowing than this one. But that was also before the pandemic and they were sitting next to each other. <div type="image" title="ambani_nadella_edited" msid="79740206" hostid="261" caption="&amp;lt;p&amp;gt;Mukesh Ambani and Microsoft CEO Sataya Nadella in February 2020&amp;lt;/p&amp;gt;"></div> Zuckerberg and Ambani may have been inconvenienced by the fact that it was a video call. But, one can't be reprimanded for expecting the ‘architect of the digital network of the world’ (how Ambani described Zuckerberg) and the man turning India into a digital society to be a bit more comfortable with technology given their shared vision of a hi-tech future. The entire transcript of their conversation, which lasted over 40 minutes, was around 11 pages long. We, at Business Insider India, have shrunk the tete-a-tete down to the most important things that you need to know. Here are some of the highlights from the conversation between Ambani and Zuckerberg on December 15: Zuckerberg: [..] So I'm curious from your perspective how is India doing right now? When you expect things are going to return to normal? And, I know that Reliance has taken a number of big steps to help the community in the country. It's been a big year for you. I'm curious to hear how your company adapted to help you move forward in the midst of this pandemic. Ambani: [Ambani spoke a lot about what the government, the Reliance Foundation and his teams had contributed to the COVID relief efforts before answering how he sees the current situation in India.] Mark, sometimes I wonder that if the pandemic had struck India just four or five years earlier, we would have not been in as good a shape as what we are today. With all the connectivity we have, and the credit for that must go to our Prime Minister's Digital India vision, where he motivated the entire industry to roll out broadband in the first five years of his first term. And, during the pandemic. India has attracted the largest foreign direct investment in its history, Mark. We have our own example of how Jio and Facebook concluded our partnership. Right in the middle of lockdown. [..] And, I believe, Mark, that our actions will speak louder than our words in the coming months and years time here. Zuckerberg: One of the big opportunities that I see with this partnership, Facebook and Jio partnership, is the role that we can play together in supporting the millions of small businesses in India especially now with the impact that COVID is having accelerating the move that a lot of businesses have from physical storefronts to digital ones and in this digital future. So, I'm curious — what role do you see technology, playing in this post COVID world? Especially as it relates to all of these small businesses that I know you share a passion with me that is just critical that we serve them. Ambani: Absolutely, Mark. And, let me point out a very unique feature about our partnership. Perhaps, not many people have understood this, but before this partnership I believe that each one of us was mainly a communication platform. Together, we now have become a value creation platform for our customers and small businesses. And, I firmly believe that technology with all the digitization steps that India has taken will democratize wealth and value creation for individuals and small businesses. And, let me explain this very simply, Whatsapp has hundreds of millions of subscribers in India Jio has hundreds of millions of subscribers in India. Jio Mart, which is our retail service, actually has the aspiration of serving tens of millions of small shopkeepers in India, who are the bedrock of employment. So, what does this mean? This means Jio brings digital connectivity. WhatsApp, now with WhatsApp brings digital interactivity and the ability to move to close transactions and create value. And, Jio Mart brings the unmatched online and offline retail opportunity that gives our small shops, which exist in villages and small towns in India, a chance to digitize and be at par with anybody else in the world. [...] Zuckerberg: I'm curious as you look ahead to the future in India — what other technologies or developments are you excited about now? Where do you see the country in the next five to 10 years? Ambani: Well, as I mentioned to you, Mark. I really see India accelerating as a premier digital society. I see us integrating 5G. [...] We also think that compute, and very low latency compute is real.I think that there is a great opportunity for really bringing education and healthcare with the second generation reforms that were done in the last six months, right. [...] And, I think that in a span of 10 years, we can set for ourselves an objective to really reskill India and the talent that you talked about can improve 10x. Today, you're just seeing the creamy layer. But, that's what technology can do to really make a better India in a better world. The same thing we can do in health, and all the emerging technology and integrations where we can make sure that we deliver services and we deliver good proactive healthcare. [..] And, that is why I think that the next two decades are going to be historic in terms of the social and economic transformation. Zuckerberg: It always blows me away that India has more than 60 million small businesses and millions of people around the country rely on them for jobs. That's a big part of what I hope that our partnership can serve here. We support more than 50 million WhatsApp business app users globally every month already and more than 15 million of these are in India. As you said, now, I can’t imagine going through the pandemic 10 years ago or even two decades ago when the internet was still nascent. It would have been a completely different experience. And, technology, of course, is allowing us to make sure that we can get accurate information out to people that has implications on health, education and helping serve people better. I think it shows a lot of the promise for what's ahead and I think we've certainly fared better now than we would have if the pandemic hit us before. Ambani: I couldn't agree more, Mark. [...] I call you the ‘architect of the digital network of the world’. While I have built some connectivity and broadband connectivity in India, you've done that for the world.Please share with us your experience of as the digital architect of the world, how your global Facebook experience has helped people in this crisis and your perspective of the crisis and where you see the world today and where it is going? Zuckerberg: [...] We just launched WhatsApp payments in India last month. So you can send money to your friends and family through WhatsApp as easily as sending a message and that was possible because of the UPI system that has been built in via unified payments interface so it makes it easy for anyone to instantly accept payments across different apps. I think we're working with 140 banks, or it's supported by 140 banks out of the gate. And, India's the first country in the world to do anything like this now. So we're grateful to be able to support this kind of innovation to help to work to create more prosperity and help achieve a more Digital India. In fact, I think that a lot of other places around the world are going to be better off when they follow some of this lead that India has set in creating public goods like this. [...] Ambani: I hope that the rest of the world learns from Indian policy, and what Facebook is able to achieve in India. We as Indians will be very proud if Facebook says we did it first in India, and then took it to 100 countries. I look forward to working with you on that. Mark, all of us would love to know your views on how the world is changing. And, what you and Facebook are thinking about. And what you see the future as. Just give us your perspective, Mark. Zuckerberg: [He spoke about how technology is empowering individuals, not just businesses and how it has been “incredibly democratising”.] We’re now on the next step with now great 4G and coming 5G networks. Video is really becoming the primary way that people share. Anyone can learn and capture something on their phones and then share it or stream it. Increasingly people are able to consume that. Video is just a lot richer of a medium than photos. Even when my daughters took their first steps, I wanted to capture a video of that and share it, not just a photo. But I don't think video is the end of the line. So, a lot of what I'm focused on is creating a helping screen virtual reality and augmented reality, so that way we can share not only the video of an experience, but you can use virtual reality to go into an experience and feel like you're right there. You can have holograms of digital objects that can kind of be as realistic as the physical objects that are there. Meaning in five or 10 years when we're having this conversation, it will just be a hologram version of me sitting on the couch next to you instead of having to do this over a screen. It'll feel a lot more realistic. A big part of why I was excited to partner with you is because there are not many people around the world, who've just gone industry after industry revolutionized them and improve them, and continue to do it and have that hunger to improve the lives of so many people so I just have a deep admiration for that. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/pornhub-adult-video-streaming-website-deletes-over-9-million-videos-to-remove-child-porn/articleshow/79732612.cms">Two in every three Pornhub videos are gone after a purge to remove child porn</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-ceo-aditya-puri-says-banks-must-change-every-3-4-years/articleshow/79734617.cms">"Banks must change every 3-4 years," says Aditya Puri, the recently retired chairman of HDFC Bank, dubbed as 'the world's best banker'</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-zomato-swiggy-scales-down-its-grocery-ambitions-leaving-the-market-open-for-jiomart-bigbasket-amazon-and-others/articleshow/79739364.cms">After Zomato, Swiggy scales down its grocery ambitions – leaving the market open for JioMart, BigBasket, Amazon and others</a>

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Deepinder Goyal donates his Zomato stock options worth ₹700 crore to offer free education for delivery partners’ children and more

Kritti Bhalla

Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021

Kritti Bhalla

Satya Nadella advocates driving inclusivity, says Microsoft is very committed to India

PTI

Indian women don’t like being gig workers ⁠— the potentially $455 billion industry has to woo them with fair pay to start with

Prerna Sindwani

Common financial mistakes to avoid in your 30s

Bhakti Makwana

Zuckerberg spoke to Ambani but there was no chemistry — even with a multi-million dollar partnership between them

Prabhjote Gill