L'Oreal notes business growth in India and expansion of presence in skincare and e-commerce

Sunil Bharti Mittal, founder of Bharti Enterprises, expressed regret over his age, believing that significant transformations are set to occur in India over the next ten to twenty years. He noted that he wished he were twenty years younger to be part of these coming changes and new opportunities.

Mittal believes that thanks to the strength of technology, energy, young population, and a vast market, India is moving towards becoming the world's third-largest economy. Speaking at the Goldman Sachs '10,000 Women' program in New Delhi on Thursday, he expressed confidence in the future of business and entrepreneurship in the country, stating that being born in India nowadays is incredible.

He added: 'Being born in this country today is incredible. I will soon turn 69. I wish I were 20 years younger. A lot will happen in this country in the next 10-20 years.'

According to Sunil Bharti Mittal, India possesses several advantages that can help it play a larger role in the global economy. Key among these are technology, energy, a young population, and a substantial domestic market. He predicts that progress in these areas will propel India to the position of the world's third-largest economy. Mittal advised entrepreneurs to recognize new chances and trust their ideas. He cited his own business journey as an example, emphasizing how crucial it was to notice technological shifts in a timely manner.

The journey in telecommunications started with a keypad phone

Sunil Bharti Mittal recounted that in the early 1980s, rotary dial phones were widely used in India. It was then that he saw a business opportunity related to keypad phones and initiated the import of the first such phone into India. He recalled: 'I brought the first keypad phone to India. That is where my journey in telecommunications began.' Subsequently, his business expanded to include message recorders, cordless phones, and fax machines, before entering the mobile telecommunications market.

Mittal remembered that when he decided to enter the mobile telecommunications sector, he was warned about the need for massive capital, making the field inaccessible to small entrepreneurs. He joked: 'Thank God I didn't know how large the demand for such huge capital could be. If I had known, perhaps I wouldn't have entered this sector at all.' However, after starting the business, he realized the scale of the necessary investments but still took the risk and moved forward.

Sunil Mittal also shared his experience with the satellite company Eutelsat OneWeb. He explained that during the coronavirus pandemic, the then UK Prime Minister Boris Johnson wanted to promote this satellite project. However, Finance Minister Rishi Sunak was supposed to assess the associated large expenditures. Mittal explained that he had to convince Sunak of the importance of this project. According to him, he argued that the UK and Europe should develop their own satellite network instead of relying solely on American systems.

Recalling this conversation, Mittal emphasized: 'I told Rishi Sunak that Europe and the UK need their own satellite network.' Through this example, Mittal demonstrated that realizing a major business idea requires not only technology or capital; it also requires convincing other people and investors of the usefulness and potential of that idea. Sunil Bharti Mittal concluded: 'You must be able to convince others so thoroughly of your idea, product, service, or plan that they are willing to invest money in it.'

Mittal advised young entrepreneurs to firmly stand by their vision and ambitions. He insisted that people must fully believe in their ideas and constantly work toward their realization. He concluded by saying: 'Maintain a very strong faith in any ideas, plans, and ambitions you have. You will achieve more than you can imagine.'

In Mittal's view, new opportunities are emerging in India across technology, telecommunications, energy, and digital services. He believes that the next two decades could prove extremely important for the country in terms of business potential and global change.

According to a study published on Tuesday by Anarock Research & Advisory, the Indian office space market has undergone changes: for the first time in nine months (January-September 2026), coworking spaces became the largest consumer of office space, surpassing the IT/ITeS sector. This shift highlights companies' growing preference for flexible workspaces.

Piyush Jain, Managing Director of Commercial Leasing and Consulting at Anarock Group, commented on the report's findings, noting that flexible workspaces complement traditional leasing rather than replace it. He pointed to a decisive change in the structure of office space tenants.

Jain added that large tenants, particularly Global Corporate Centers (GCCs), are forming an increasingly mixed portfolio. They use long-term, customized campuses for core teams and flexible spaces for running pilot projects, accelerating processes, and expansion. Furthermore, many flexible space operators also lease entire buildings under standard terms.

The Anarock report showed that the coworking sector led overall demand, accounting for 26 percent during the period, exceeding the IT/ITeS figure of 25 percent, as well as the Banking, Financial Services, and Insurance (BFSI) sector with a share of 21 percent. Previously, according to Anarock data, IT/ITeS traditionally held the leading position.

Among key segments, coworking and BFSI increased their share of total office space demand, reaching 47 percent of total leases in the first nine months of 2026, compared to 41 percent in the same period last year.

Forecasts and Strategic Significance

Amit Ramani, Chairman and Managing Director of Awfis Space Solutions Ltd, noted that the emergence of coworking as the largest tenant in the last nine months confirms a structural shift. This is due to enterprises and GCCs increasingly focusing on speed to market, capital efficiency, and flexibility.

Ramani emphasized that flexibility is no longer just an alternative option or a tool for startups; it has firmly become part of the corporate growth strategy. Harsh Binani, Co-founder of Smartworks, stated that managed workspaces will play an increasingly strategic role in meeting businesses' real estate needs. He specified that the capability will be determined not only by area but also by the ability to provide scalable, institutional-level workspace infrastructure in different cities.

Ramita Arora, Executive Director in Bengaluru and Head of Flex at Cushman & Wakefield, observed that modern flexible offices can support a business at every stage of its real estate needs—from establishing a presence to scaling teams and managing a long-term portfolio. The firm's report, released on Tuesday, indicated that the supply of flexible offices in India reached 88.7 million square feet in the first half of the year and is projected to exceed 100 million square feet this year, growing nearly to 160 million square feet by 2030.

Moreover, the report states that GCCs and multinational corporations are increasingly using flexible spaces to enter new markets and expand in existing ones. Arora added that with the emergence of new demand sources, including AI-based businesses, the opportunities within the flexible sector are becoming both broader and more resilient.