ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016)

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BUSINESS DISRUPTION IN : A REVIEW

Shinde Prajakta Shruti B

ABSTRACT:

The review paper studies the extent to which new start-ups have disrupted the existing Indian market. It has seen a skyrocketing increase in the number of new entrants in the economy with advanced technology and creative strategies. It is a structured study which gives information about the theory, characteristics, parameters and current market examples along with their market statistics. It also comments on the emerging disruption that have high probability to create sustainable value for shareholder as well as the customers. Also it throws light on whether this phenomenon is an opportunity or threat for the existing business.

KEYWORDS: business disruption, start-ups, blue strategy, venture capital, disruptive technology, sustaining innovations

INTRODUCTION: business strategy. Usually, the disruptor Business disruption is a phenomenon offers the product or service at a lower price achieved when a new start-up business in a and the quality or performance may be particular sector competes with already lower than the existing business. The established giant business firm by product or process is good enough to meet minimum use of resources. A disruptive some customer’s needs; others welcome the innovation is a technology, product, or disruption's simplicity. Gradually, it process that creeps up from below an improves to the point where it displaces the existing business and threatens to displace incumbent and establishes a reputable it. The new entrants focus more on the position in the market1. Disruptions in the development of their product and services business environment allows new entrant or so much and such that customers are under forward-thinking established players to their strong influence due to their unique introduce innovations that transforms the ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… way companies do business and consumers opportunity or as a threat. These disruptions behave. These disruptive changes might also cause economic shifts that destabilize serve as the source of innovation including industries, companies, and even countries. technology shifts, new business models, This is brought about by successful serial industry dynamics, global opportunities, entrepreneurs who are able to recognize and regulatory changes. They can cause patterns before an opportunity takes shape. economic shifts that destabilize industries, They search for ideas at the intersection of companies, and even countries. They also markets, industries, and emerging allow new entrants or forward-thinking technologies. They look for disruptors that established players to introduce will "unfreeze" a stable industry and the innovations—in products, markets, or companies that compete within them. They processes—that transform the way look for business models that worked well companies do business and consumers in one market and can be adapted and behave. These disruptive innovations are applied in another. They recognize that they not just novel inventions. Successful must listen to customers but must innovators take these ideas and turn them sometimes educate the marketplace to new into opportunities by adding a business approaches. Entrepreneurs learn to identify model that creates sustainable economic ideas by raising their head above day-to- value for all stakeholders. They then go one day operations and expanding their vision. step further and exploit the opportunity by They then prioritize and narrow the many creating a sustainable business. Some of the ideas they generate into a potential disruptive changes in the industry are in the opportunity that addresses a compelling following fields: problem for customers who are able—and 1. Technology willing—to pay. 2. Business models 3. Industry dynamics According to a study conducted by 4. Globalization Christensen C, Craig T and Hart S- 5. Offshoring and outsourcing disruptive technologies create major new 6. Regulatory, Macroeconomic, growth in the industries they penetrate-even Political, Societal when they cause traditionally entrenched firms to fail-by allowing less-skilled and Thus, the disruptive changes can be viewed less-affluent people to do things previously from the two perspectives- as an done only by expensive specialists in ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… centralized, inconvenient locations. In to their best customers, therefore, the less effect, they offer consumers products and they will recognize that the disruption is services that are cheaper, better, and more important. Second, such companies convenient than ever before. Disruption, a carefully measure the size of markets and core microeconomic driver of their growth rates to understand their macroeconomic growth, has played a customers better. But disruptive fundamental role as the American economy technologies foster new products and has become more efficient and productive. services with a market impact that cannot The tendency of good managers to be easily predicted. Third, good managers overshoot, can allow disruptive focus on investing where returns are the technologies-cheaper, simpler, and more highest. Disruptive innovations, however, convenient products or services-to enter the usually translate into cheaper products with tiers of the market where customers are lower profit margins. (It never made sense already overserved by the existing (but for IBM to market software in the 1970s, more expensive) offerings. The leading because the profits from making hardware companies in such industries are so focused were so much greater). Finally, leading on sustaining innovations and addressing companies almost always pursue large the more sophisticated and profitable markets. As companies become successful customers that they ignore the disruptive and grow, their managers are compelled to innovations piercing into the market from rake in more revenue each year to maintain the low end. In this way, disruptive their growth rates and boost stock prices. technologies have plunged many of But the emerging markets for disruptive history's best companies into crisis and, innovations are much smaller at first than ultimately, failure. There are four reasons mainstream markets and cannot provide the why good managers become paralyzed huge volumes of new business that keep a when faced with disruptions. large company growing3.

First, leading companies listen to their START-UPS IN INDIA: customers because disruptive technologies In the 2008 economic recession India was perform significantly worse than one of the few countries which was least mainstream products in the beginning, most impacted by the crisis? Due to this attractive customers typically will not use incidence the youths of India thought that them. The more carefully companies listen they cannot stay dependant on the MNCs ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… for their job, their aspirations and their SOME KEY FACTS OF NASSCOM & dreams and many of them started with ZINNOV REPORT ON INDIA’S business as soon as they finished their START-UPS: studies. India has new breed of young start- The NASSCOM and IT consulting firm ups and has evolved to become the third ZINNOV in its Report 2015, on start-ups largest base of technology start-ups in the reveals that India is the most exciting Start- world. The famous investors in start-ups are up nation emerging globally. Some of the – Ratan Tata, Tata group (Cardekho, Ola, well-known key facts of Indian start-ups HolaChef, Lyberate); Sachin & Binny are: Bansal, (news in shorts, tracxn, 1. No. 3 ranking in the Global Start-up Roposetc); Kunal Bahl and Rohil Bansal, Ecosystem: India ranks 3rd with 4,200- (Bewakoof, Routofy, Urban Clap, 4,400 companies and follows US which is Shadowfax). Some of the successful start- the largest for technology driven Start-ups ups in India are – , Flipkart, with 47,000-48,000 companies, second is Housing.com, Inmobi, Ola, etc. the Great Britain has 4,500-5,000 The start-ups are not only making profits companies, Israel has 3,900-4,100 and but some have already disrupted the China 3,300-3,500 companies. China, existing businesses. For example, the taxi also, has ambitious plans to promote Start- business is being overtaken by private taxi ups and is giving strong competition to services like Uber and Ola. The reasons for companies from other nations. Between this growth of start-ups are: 2013 and 2015, Start-ups in India grew by 70%, and between 2015 and 2020, the 1. Technology growth rate is expected to be 75%. 2. Risk-taking abilities 2. 9 Indian Start-ups valued at over $1 3. Favourable economic environment billion: Between 2014 and 2015, 4. Social Entrepreneurship valuations of several Indian Start-ups have 5. Availability of funds skyrocketed, reflecting the confidence 6. Ease of communication investors are placing on the Start-up 7. Improving financial system ecosystem in India. 8. Career options 3. 125% increase in funding over 2014: 9. A failure start-up is no more a Between 2010 and 2015, Start-ups in India failure received $9 billion. In the year 2015 alone 10. Vibrant ecosystem the total investment touched $9 billion. ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… Year 2016 is expected to see higher levels located outside the traditional cities of of investment. Top deals in 2015 for Delhi, Mumbai and Bangalore. Bangalore billion-dollar ecommerce companies in is ranked 15th in the Global Ranking for India: Start-up cities.  Flipkart: $700 million from Tiger 7. 80,000 – 85,000 directly employed by Global and Steadview Capital Start-Ups: This figure is expected to  Snapdeal: $500 million from Alibaba increase to over 2, 50,000 within the next Group, SoftBank, Foxconn among few years. The indirect potential for others employment is even higher.  PayTM: $635 million from Alibaba 8. 8 out of 10 VCs & PEs operating in Group, SAIF Partners among others India are foreign companies: This  Quikr: $150 million from Investment reflects strong confidence in the Indian AB Kinnevik and Tiger Global entrepreneurship and technology by 4. 123% increase over 2014 in active foreign firms, and in 2016, more domestic investors: In 2014, there were 220 active firms are expected to join the list of investors. The number has risen by 123% companies looking to invest in the next big to over 490. This number is further idea coming out of India. expected to rise in 2016. The average 9. 28 years is the average age of Start-up funding level in 2015 was $95 million per entrepreneurs: 72% of Start-up week. entrepreneurs are below 35 years of age 5. $2.5 – $2.7 million the average valuation making Indians amongst the youngest set of Start-ups: Average valuation increase of entrepreneurs in the world. The break- is a great indicator of how overall Start-ups up is – 31% are within 31-35 years, 26% are performing and the level of confidence within 26-30 years, 15% within 20-25 that investors place on these companies. years and 15% within 36-40 years. Of 6. 40% increase in number of Start-up these, 35% are engineering graduates, 26% Incubators and Accelerators: In 2014 hold MBA degrees, 10% are post- there were 80 Incubators; the number has graduates, and 4% are engineering post- increased to 110 in 2015. With the graduates. 91% are male entrepreneurs and government now supporting the 9% female. establishment of more incubators and 10. About 1,200 start-ups were born in 2015 accelerators, the number will substantially alone: There were about 1,200 start-ups increase in 2016-17. Over 50% of these are were born in 2015 alone, of which about ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… 50 per cent are present in areas such as followed by Flipkart and now a number of ecommerce, consumer-focused services online bookstore like Infibeam, and aggregation-based business models. Crosswords, Bookadda, Landmark, Uread 11. In 2015, e-commerce companies invested etc. But this approach of differentiation about $600 million in advertising and leading to low cost limits the search for the marketing. new markets, as firms often copy each 12. The report also reveals that 9% of the start- other, follow similar practices and most of up founders in India are females4. the time end up in similar markets of highly contested territory. Prof. Hill suggested that BLUE OCEAN STRATEGY: a combination of both differentiation and According to Dr. Saraf V, Yadav L and low cost may be necessary for firms to Khare S, in their research on Blue ocean achieve a sustainable competitive strategy, Investopedia states it as a slang advantage. In blue oceans, demand is term for the uncontested market space for created rather than fighting over existing an unknown industry, marketplace or piece of market. Akio Morita, Chairman of innovation. It was coined by W. Chan Kim Sony once said, “Carefully watch how and Reni Mauborgne, professors of people live, get an intuitive sense as to what Strategy and Management at INSEAD. they might want and then go with it.” The Prof. Charles W. L. Hill from Michigan basis of Blue Ocean Strategy is 'Value State University in (1988) claimed that Innovation'. Examples of this include Porter's model was flawed because reduction in size of mobile recharge cards, differentiation can be a means for firms to biscuit wrappers etc. Also it has attractive achieve low cost. It is in contrast to red taglines to lure the customers like for ocean strategy, red oceans are industries example: where competitions exist and are heavily 1. Bajaj Chetak: Hamara Bajaj contested. In the red oceans, industry 2. Maggi noodles: Taste bhi health bhi boundaries, standards are defined, 3. Tata Salt: Desh ka namak economics of scale becomes clear, and the 4. Patanjali: Prakriti ka ashirwaad competitive rules of the game are known. Hence, these types of industries are termed red oceans. Some examples of red oceans in Indian scenario are India’s online bookstore market, initially started India plaza, and ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… EXAMPLES OF BUSINESS by the current interest in the emerging DISRUPTIONS IN INDIAN of things. Internet has caused MARKETS: global industry disruptions by challenging 1. Nirma: When Nirma was launched as the current physical markets. cheap washing powder, it captured a market Digitalization has introduced e- that HUL ignored and even sneered at it. Newspapers, e-book, e-invitations, as it The company grew large enough to actually requires comparatively less of investment, steal market share from HUL's Surf5. easier to read, to carry and reliable; these 2. OLA: According to a study conducted by all factors have in turn led to reduction in Ahmed S, Bidwell N, Zade H, Muralidhar the sales of hard copy. Music industry has S, Dhareshwar A, Karachiwala B, Cedrick been affected the most by digitalization as T and Neill J- Olacabs, an Indian start-up, people no more prefer to purchase CDs, added Ola Auto (or Ola) to its taxi-booking DVDs or cassettes because they can services in November 2014. When auto download the songs for free within a drivers’ sign-up, Olacabs gives them a fraction of seconds by using internet7. locked smart phone, running the Ola app, in a. Amazon.com:Amazon.com is a website English, Kannada or Hindi. This is the first that has ushered in a new form of consumer. smartphone most drivers have used. Ola It allows a consumer, the ease of shopping runs a 2-hour training program on “how to from home and not supporting the overhead use the device, how you should accept if of physical retail locations. This has made you get a ride, how to keep your auto, how it a real game changer since its conception. to behave with the passengers”. Most The disruptive impact of Amazon.com can drivers in our study mastered the device and be felt in its 21.9% revenue growth the app, often after putting some effort into following its 2013 fiscal year which led it learning to use them. The Ola app replaces to be ranked #4 in overall sales growth. the need to negotiate fares, which is a clear Amazon.com has revolutionized the way benefit for the customer6. that consumers shop by offering a quick, 3. Digital Disruption: According to Kenney safe and peer reviewed marketplace which M, Rouvinen P and Zysman J in their allows shoppers to feel comfortable in their study, they say that the internet is purchases. Amazon.com has succeeded in a becoming the mother platform, which key area which is the overall online enables or is transforming nearly every customer service experience (OCSE). The aspect of economic activity, as can be seen overall factors that comprise the OCSE, ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… being functionality and psychology, have base. Amazon.com has proven to be a been a tremendous win for Amazon.com pioneer in the online business world with its user-friendly platform and features through creating changes which have which allow the customer to view the object forced the marketplace as a whole to adapt. they intend to buy from every angle or even As Amazon.com moves into the future I’m look inside the product. Although most of sure we will see it continue to disrupt new Amazon.com’s earnings come from the markets with its growth and branching out retail based side of the company, there are into new areas. Through its adaptation to fit other areas that are showing increases as the needs of consumers to its innovations well. Amazon.com’s media group, web within the company as a whole, services and firetv have also added revenue Amazon.com will continue to promote which poises it to be the number 2 spot in changes in the industry8. 2018, only second to Wal-Mart. The overall b. Google: Google Inc. began as a start-up success of Amazon.com has come from the when all the large players in the industry proper manipulation and adaptation of their turned down the opportunity to license the resources, processes and values. According technology from Stanford University. to Christian and Overdorf, are pivotal in Google has since become the leader in the creating and overcoming disruptive industry with nearly 20,000 employees and innovators in our ever-changing a market value of about $150 Billion as of marketplace. Understanding these August 2009. Start-up companies, using capabilities also gives Amazon.com the university technologies, have the potential opportunity to examine itself to usher in to become a major economic force in the what Raynor describes as a more economy. But, it takes additional skills and scientifically driven industry. When you effort on the part of University Offices of approach Amazon.com’s disruptive Technology Transfer (UOTT) to license an capabilities form the advantage vs. invention to a start-up company compared disadvantage viewpoint of Wessel and to the effort needed to license to an Christensen it becomes apparent why established company; such additional skills Amazon.com is growing so rapidly. are often not found in most UOTTs. Amazon.com is a store that never closes, a Inventions that bring large revenues to the store that you don’t have to leave your universities, by implication, are successful, house to shop at and a store that has become create more employment, and are big a trusted site with a very strong consumer contributors to the economy and the ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… society. Google has dominated the market allow Facebook to go wherever the market because of its focus on the search engine wanted it. Farmville and other social and continuous improvement, thereby games – Why not? Different ways to find disrupted Yahoo (11.9%), Bing (20%) and potential friends – go for it. The founders MSN’s market shares. Googles has 63.9% kept pushing the technology to do anything market share in India, since it also has other users wanted. If you have an idea for application like play store, which is present networking on something, Facebook in all android smartphones it shows its pushed its tech folks to make it presence everywhere and people refer to happen. And they kept listening. And search as ‘googling’. It teaming up with looking within the comments for what android and windows smartphone to would be the next application – the next introduce ‘Andromeda’, which will make it promotion – the next revision that would possibly omnipresent9. lead to more uses, and more growth10. The c. Facebook & WhatsApp: Before there was prevalence of mobile phones with internet Facebook, the social media juggernaut access allowed WhatsApp to develop which is changing how we communicate – applications that allow people all over the and might change the face of media – there word to send messages to one other across was Myspace. Myspace was targeted at the IP networks, as opposed to sending same audience, had robust capability, and messages in SMS format. WhatsApp's was to market long before Facebook. Orkut applications have resulted in greater access which was one of the most widely used to messaging at a low cost11. social networking website, lost its market 4. Patanjali products: According to recent share, with the entry of Facebook. The records Patanjali Ayurved.Co. has emerged founder Mark Zuckerberg decided then on as a big disruptor with a turnover of $740 to unbundle the Facebook messenger too, million. They are continuously launching compelling people to accept it. It generated new products in the market and have started enormous interest, received a lot of early spending a lot of money on advertising press, created huge valuation when since last one year. For a company it is very investors jumped in, and was undoubtedly tough to develop its brand across all not only an early internet success – but a categories, but we see Patanjali performing seminal web site for the movement we now this task vibrantly and also it aims at notion call social media. But, the brilliance of of health and care. The company has Mark Zuckerberg was his willingness to ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… established significant position in the herbal for over two decades. Apple Inc. uses a market12. mixture of disruptive and value innovation 5. Uber: According to Laurell C and along with proper strategy and planning Sandstorm C, Uber, a personal which has allowed it to establish itself in transportation platform, is conceived as a multiple markets in the technology world. technological innovation, and as an Apple’s iPod and iTunes created a lot of institutional disruption. Uber’s offer buzz as it was a new marketplace in which clearly has some disruptive properties in the original marketplace’s competition the sense that it creates value in new ways, became irrelevant by allowing more room for instance by being simpler, cheaper and for newcomers in this newly created space. reducing costs. The most disruptive factor This newly created marketplace helped of Uber is its presence in the digital world, Apple in creating new innovations, jobs and consumers find it easy to book vehicle at products, which had a direct, positive effect anytime, anywhere with just a click. To on job growth and society as a whole15. promote its mobile application, it provides free rides as and when the user passes on RELIANCE JIO – ON VERGE OF the code, just customer becoming the DISRUPTION: promoter of the brand13. Uber In a move that will disrupt the Indian Technologies is charting a major telecom sector, telecom company Reliance expansion as it is going to open big Jio offers all domestic voice calls for free. business for the automobile industry, as Their main principle is data must be the company is planning to buy as many as affordable. To make handsets more 200,000 passenger vehicles over next two affordable, Reliance has launched a device years. Going by the valuation, the Uber is at Rs. 2,999 under the LYF brand, making giving a tough competition14. it more attractive to the consumers. 6. Apple: Of the many different aspects that Analysts say this could be one of the most affect the business world, strategy, defining moments in India’s telecom sector. innovation, planning & ethics play key With the launch of RJio, data consumption roles in the sustainability of a company in patterns will not only change, but also move today’s marketplace. Apple Inc. has to altogether new levels. According to established itself as a company that has Anand Agarwal, CEO, Sterlite utilized these factors to create a successful, Technologies, this will definitely disrupt cohesive strategy that has proven effective ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… consumer behaviour and give the masses a well and to offer quality service to the true feel of ‘Digital India’. consumer. Due to this increasing competition in the market the consumer is CONCLUSION: benefited and he in turn gets the best A disruption in the business is created with service. a combination of- continuous innovation, new ideas, clarity of customer understanding, creating value for the customer, to make a product which improves radically and differentiates itself in the market. As India is called the youngest country of the world wherein 65% population is below 35 years of age, the youth are willing to take the risk of setting up their own venture as opposed to joining an established company, this is a clear sign of booming economy. The increasing number of start-ups have provided more jobs at all levels. Already, over 80,000 people are employed by start-ups and 3-4 new start-ups are born each day. This in turn will encourage the advent of new business, resulting in entry into market with an aim to acquire maximum customers and to provide unique customer experience. The

‘Make in India’ and ‘Digital India’ initiative, are driving forces for supporting the risk takers. We need to see disruption as a virtue. We need to make the private and public policy changes that will allow disruption to be channelled in a positive way. Also this disruption increases a pressure on the existing business to perform ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT

ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn. 2349-2317/2015; Volume 7 Issue 3 (2016) …………………………………………………………………………………………………… REFERENCES: 13. Laurell C and Sandstorm C, et.al., International Journal of Innovation 1. http://europepmc.org/abstract/med/124 Management Vol. 20, No. 7 (2016) 22795 1640013 2. http://hbswk.hbs.edu/item/jumpstarting 14. http://economictimes.indiatimes.com/s -innovation-using-disruption-to-your- mall-biz/startups/uber-hails-200000- advantage cabs-with-eye-to-expand-india- 3. Christensen C, Craig T, et.al, Foreign drive/articleshow/54594178.cms Affairs- Volume 80 No. 2 15. https://www.linkedin.com/pulse/strateg 4. Adhana D, et.al., IJMSS-Vol.04 Issue- y-innovation-planning-ethics- 02 (February, 2016) sustainability-rickey-mask-maed 5. Dr. Saraf V, Yadav L, et.al., IJIRD, 16. http://www.thehindubusinessline.com/i June, 2012, Vol 1 Issue 3 nfo-tech/reliance-jio-dials-d-for- 6. https://www.rairarubiabooks.com/relat disruption/article9061118.ece ed-pdf-elina-m-motivation- statement.html 7. Kenney M, Rouvinen P, et.al., J Ind Compet Trade (2015) 15:1–4 8. https://www.linkedin.com/pulse/amazo ncom-true-marke-disruptor-rickey- mask-maed 9. http://works.bepress.com.secure.sci- hub.cc/paulswamidass/13/ 10. http://www.forbes.com/sites/adamhart ung/2011/01/14/why-facebook-beat- myspace/#17ee73147023 11. https://www.entrepreneur.com/article/2 45842 12. http://economictimes.indiatimes.com/o pinion/interviews/disruptions-caused- by-patanjali-are-an-opportunity-for-all- players-rakesh-biyani-future- retail/articleshow/53629629.cms