MakeMyTrip's Deep Kalra & Rajesh Magow Share The Untold Story Of Aarogya Setu | CNBC TV18

Next 25 years for all businesses including us. I'll tell you specifically what is happening for travel as well is going to be driven by these fundamental macro story that India's outlook is, as you can see from all these metrics now, so what does it mean for travel business specifically and there what is also happening and maybe it is thanks to COVID because people saw those difficult times from very close. Right? If you really look at any surveys and by the way a global phenomenon, so if you ask a question and we've looked at many of them, if you ask a question where would you want to spend your lion's share of your disposable income at your disposal, and travel is right up there. And then the next one is entertainment and experience and so on. The possessions are going down, the material possessions in terms of all the gadgets and the products are actually going down. People want to spend more money. So behavior reset, the behavior reset is happening, right? So the consumer habit is changing behaviors and we see that from our own data for the last few quarters. We see our frequent travelers are actually taking more trips than they were ever before, right? It's a combination of short-term vacations and we've seen trends like the YOLO phenomenon is here to stay and Gen Z, it's real. And Gen Z and renter economy, rental sharing economy, people don't want to really buy. They don't want to own assets. They just want to be light-footed. And this is people not much younger. I have a brother who's 40 years old, doing very well, lawyer, his own firm, doesn't own a house, doesn't want to own a house. And he's very clear about it. This is a complete waste. Absolutely. And the new use cases, the celebration use cases. Not only the younger population and people who are going to office, they are not necessarily celebrate everything. I mean, you have to have an excuse to celebrate and get it.

Well, you know, festival is one of them. Or actually just unusual one is just a long weekend and I just want to get into it. There's no occasion, there's no anniversary, there's no birthday, there's a get together, you know, have full flexibility of music and late night and party. I believe they're now break up and turning single again parties. Break up and turning single again. Again, their parties and get togethers like, listen, now guess what, we're all single. Party. But all kinds of stuff is happening as we know. Like proposal economy is happening. Yeah. People now youngsters are choosing exotic locations to go make a proposal and they actually travel to that. Like this is the kids' generation clearly. I know people who have chosen Morocco recently and when they made a proposal in the Sahara desert and these are Indians. So they're traveling all over the world to make proposals. So imagine what will happen when the marriage and everything else goes. I think it's become a celebration also. Everyone's coming to the conclusion, listen, the most valuable thing we have is time. It's the only resource that's finite and you can't take it for granted. Yeah. And live it up. Enjoy. If you have everything else, then make those moments count and create memories. So, I think all of that comes together in the travel which is great news for your business. Great news for us. Absolutely. Great news. Absolutely. Absolutely. And the best part for us has always been at MakeMyTrip when you see all stakeholders getting benefit. Like those are the high points for us. Like when we IPOed, the high point was not necessarily achieving that milestone to be honest because at the end of the day it's a project for the organization. It was more that the 80% of the stockholders got benefited out of it, right? You know, people, employees, absolutely. And a lot of those actually didn't even believe in that. What was 75-80% of the team had held stock. Like we had made sure they'll get some stock. So it was a big deal for everyone. And there have been stories. Believe it or not, I mean, I remember those moments because when IPO happened, they suddenly started going back to their records and saying, 'Where's that damn paper that we have? Where's that piece of paper? Where's that piece of paper?' Because nobody really realized that it had any value and some of them came back and then we've lost it and can we just get it back? Right. So, it was really, really good to see. They probably didn't think that anything would come off, right? So, tucked away. No, no. Finance had all records and everything's electronic but yeah, people had people were like that. I remember them coming saying they were scared it's gone. No, don't worry, suddenly dollar value, right? So yeah, absolutely.