Business

Salaries of Startup Founders in India Decline by Over 25% in FY24: Report

Published

11 months ago

March 10, 2025

In the financial year 2023-24 (FY24), the salaries of startup founders in India experienced a significant drop. The average earnings of 54 founders from 30 Indian tech startups decreased by 25.4%, falling from Rs 7.3 crore in the previous year to Rs 5.44 crore this year. As the startup ecosystem continues to grapple with a severe funding slowdown, these founders collectively received Rs 291.5 crore in salaries during FY24.

This decline in earnings occurs during a challenging period for Indian startups, which are facing the ongoing “funding winter” that began in 2022.

To address these funding challenges, the government announced the elimination of angel tax in the Union Budget presented in July 2024. The decrease in investments has been exacerbated by global uncertainties, including the Russia-Ukraine conflict. Consequently, total funding for Indian startups plummeted from $42 billion in 2021 to $25 billion in 2022, and further declined to only $10 billion in 2023. Funding trends have seen little recovery in 2024.

In response to the financial pressures, many startups have implemented cost-cutting strategies, such as reducing marketing expenditures, laying off staff, and reshaping their business models. Some companies have even ceased operations to navigate the downturn. While a few startups managed to stay profitable, others encountered significant losses.

The 30 startups examined in the report reported a total operating revenue of Rs 73,715 crore in FY24. Among them, 11 startups collectively incurred losses amounting to Rs 4,876 crore, while the remaining firms reported total profits of Rs 7,960 crore.

The report also highlights the highest-paid startup founders for FY24. Supam Maheshwari, founder of FirstCry, maintained the top position with an annual salary of Rs 103.8 crore, which is nearly a 50% reduction from the Rs 200.7 crore he earned in FY23, according to FirstCry’s red herring prospectus.

Nikhil and Nithin Kamath, founders of Zerodha, claimed the second and third spots in the salary rankings. Nithin earned Rs 33.5 crore in FY24, reflecting a 30% decrease from Rs 48 crore in the prior year, while Nikhil received Rs 33.9 crore, a decline of 29% from FY23. When factoring in other income sources, their total remuneration reached Rs 96 crore each.

Business

India May Buy More Oil From Venezuela Instead of Russia

Published

2 weeks ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.