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UK-based Tide plans to invest ₹3,100 crore in India in next four years
Sentiment: NeutralHigh Priority
What Happened?
Tide, a UK-based financial platform, plans to invest ₹3,100 crore in India by 2030 to enhance its operations and technology centers. Despite this, it will wind down its member-facing business in India, affecting around 400 employees.
Key points
- Tide plans to invest around ₹3,100 crore in India by 2030.
- The investment aims to enhance operations and technology centers.
- Tide will focus on UK and European markets for profitable growth.
- The decision affects approximately 400 employees in India.
- Tide employs around 800 people in its Hyderabad center.
- The company has over one million members in India since December 2022.
Key insights
- The focus on technology centers may enhance Tide's operational capabilities.
- The winding down of the member-facing business could lead to a shift in Tide's market strategy.
- Tide's continued investment in India indicates long-term growth potential despite current challenges.
Why it matters
Tide's investment highlights its commitment to India, despite scaling back its member-facing operations.
Entities
Tide· CompanyIndia· CountryHyderabad· CityUK· Country
Source
Business Standard
