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At 25, MakeMyTrip says best is yet to come, bets on investments, AI to outpace industry growth
- MakeMyTrip, as India’s pioneering online travel company, celebrates 25 years and anticipates surpassing industry growth with investments and AI advancements.
- Co-founder Deep Kalra and CEO Rajesh Magow express optimism about the company's future due to India's growth prospects and shifting consumer behaviors towards travel experiences.
- Magow highlights the demographic dividend, infrastructure investments, rising incomes, and changing consumer spending patterns as positive factors for the company's growth.
- MakeMyTrip eyes higher growth rates than the industry through investments in various sectors like corporate business, intercity, forex, visa, and AI-powered enhancements.
- AI is seen as transformational for MakeMyTrip, with plans to further leverage this technology to enhance consumer experiences and internal productivity.
- The founders recount MakeMyTrip's journey through challenges, initially facing financial difficulties but ultimately finding growth opportunities after the IPO and strategic mergers.
- Despite ups and downs, MakeMyTrip navigated through survival phases to high-growth periods, including the 2016 merger with Goibibo and RedBus, and overcoming challenges post-COVID-19.
- Magow acknowledges short-term uncertainties and emphasizes the need for continuous innovation and differentiation to stay ahead in the market amidst the AI era.
- He mentions the importance of investing in the right areas, leveraging data, and delivering effectively to maintain leadership and navigate through changing market dynamics.
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