Swiggy’s revenue from operations grew 54% year-on-year to ₹5,561 crore, up from ₹3,601 crore a year earlier. However, total expenses rose nearly 56% to ₹6,711 crore, driven by higher costs in logistics, discounts, and platform expansion.

The Bengaluru-based firm had earlier posted a ₹1,197-crore loss in the June quarter. Despite the widening deficit, Swiggy’s growth in food delivery and its quick commerce arm, Instamart, continued to strengthen its market presence.

On Thursday, Swiggy’s shares closed 0.2% lower at ₹418 on the NSE. Over the past month, the stock slipped 1.17%, while it gained 32% in six months. However, on a year-to-date basis, it remains down 22.93%, reflecting market concerns over profitability.

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Goyal encouraged businesses to leverage these programmes to promote innovation, manufacturing, and entrepreneurship. He said such efforts would foster shared prosperity between India and Qatar. He also addressed an Indian community event, praising the diaspora for enhancing bilateral relations.

The minister highlighted Prime Minister Narendra Modi’s vision for a self-reliant India and the journey toward ‘Viksit Bharat 2047’. He urged the community to explore new collaboration opportunities and strengthen cultural and business connections between the two countries.

During his visit, Goyal launched India’s Unified Payments Interface (UPI) at Lulu Hypermarket in Doha. Calling it a “game-changer” for digital payments, he said UPI reflects India’s commitment to cross-border commerce and the ‘Digital India’ mission. The service will be available at Qatar National Bank terminals, facilitating payments for Indian travellers and boosting trade and tourism.

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The conclave focused on connecting early-stage ventures with top investors. More than 50 venture funds joined the event. 170+ startups from 20 states showcased innovations in defence, aerospace, clean energy, agritech, and fintech. The Startup Conclave 2025 created a vibrant space for collaboration, learning, and growth.

Investor pitching sessions aimed to unlock ₹250 crore in funding. Gujarat’s government signed 50 MoUs and handed out funding cheques and Letters of Intent. These efforts reflect the state’s commitment to nurturing entrepreneurship and driving economic progress.

Thematic pavilions featured electric vehicles, semiconductors, drones, and space tech. Visitors explored cutting-edge solutions and interacted with founders and tech leaders. The conclave also hosted panel discussions, workshops, and networking events to boost startup visibility and investor confidence.

Chief Minister Bhupendra Patel and Education Minister Rushikesh Patel joined Amit Shah at the ceremony. Their presence highlighted Gujarat’s push for innovation and self-reliance. Amit Shah praised the state’s proactive approach and encouraged youth to embrace entrepreneurship.

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