I arrived 15-minutes early at New Delhi’s Indira Gandhi Domestic Airport Terminal 1-C on my Go Air flight. Some swift baggage collection, a friendly ambience and plush terminals all made my return to Delhi quite hassle-free. Indigo, Spice Jet and Go Air flights depart from Terminal 1-D and arrive at Terminal 1-C, while Air India, Jet Airways, Jet Lite, Jet Konnect flights depart and arrive at Terminal 3, the swanky new building that opened its doors in July, 2010.
Passengers looking to transfer to international flights can hop on to the complimentary shuttle bus service provided by the airport. While the changes at the airport reflect development in the city, not everything is perfect. My transfer from the airport that would usually take about 30 minutes, took much longer due to peak business hour traffic.
Delhi has transformed since the last time I visited, but then it has always been a city of change, from 300 B.C Mauryan period through Mughal dynasties to colonial British Delhi. What has remained constant is Delhi’s vision of itself as the preferred financial, business and political centre of India. A crossroads between a rich cultural heritage and a strong business foundation, it has immaculately adapted itself, and today holds all the elements of an advanced Indian metropolis. Since the Commonwealth Games in 2010, Delhi has undergone quite a facelift. Perhaps it was only my faulty memory, but it now seems to have wider roads, greener foot-paths and better managed traffic. On my ride to the hotel, I also noticed a whole lot of the Indian Army influence that gives Delhi the feel of a true north Indian city. Also, an unabashed vow to cleanliness can be observed at almost every corner of the capital.
The changes began long before the Commonwealth Games, of course. Back in 2002, the public transportation system underwent an overhaul that revolutionised the way the city travels. Home to India’s second rapid transportation system after Kolkata, New Delhi opened its doors to the Metro. Today almost 2.4 million commuters ride this efficient system that connects Delhi, Gurgaon, Noida and Ghaziabad. More traditional options include taxis, buses and of course the infamous rickshaws (three wheeled and cycle) that are fairly easy to hail in and around central Delhi. Being a circularly planned city, getting around is relatively easy thanks to the numerable highways and freeways that connect various areas and colonies as they are called here. Larger distances are covered in shorter durations, although commuters who travel to Gurgaon daily for business face bumper-to-bumper peak hour traffic jams.
When global recession hit India as much as it did anywhere else in the world, Delhi fought its way through the financial catastrophe and showed consistent economic development in the past few years. The annual compound growth (between 2004-05 to 2013-14) of Delhi’s GSDP is recorded at 16.76 per cent compared to the national average of 4.5 per cent. The service sector contributes significantly encompassing almost 87.73 per cent of the sectoral composition (2013-14). Industries across real estate, hotels, restaurants, banking, insurance, wholesale and retail trade are flourishing in the capital since the last two decades.
Over the years, a foundation for a solid Indian retail test-market was laid out effortlessly. Brands recognised Delhi as a mature and viable bazaar to sustain their foreign set ups. The government started permitting multi-brand Foreign Direct Investments (FDI) and business conditions in Delhi supported smoother processes for their expansion. As per a study conducted by a real estate research firm CBRE, luxury business retailers accounted for the highest proportion (26 per cent) of the new entrants to the capital, followed by specialist fashion (18 per cent) and restaurants (13 per cent). Delhi became a hotspot for global retailers who manoeuvred their way into the country through this city.
The Delhi-luxury story is an unassuming one that has more than what meets the eye. Vasant Kunj, an area within the South-Western part of the city, throbbingly beats with the glamour of DLF Emporio, Delhi’s uber luxury mall. Walking through a plethora of labels that can’t be found in any other city in India, I delved into Delhi’s entrenched connect with luxury. The Indian luxury brands’ business strategy is a calculated move taking into account a number of demographic and economic dynamics of the city that favour this expansion. Brands evaluating metropolitan cities on a number of parameters for their Indian debut realise Delhi fits the bill in more than one way.
“Real-estate opportunities in Delhi are quite inviting for luxury brands,” says Nikhil Mehra, COO of Genesis Luxury, a company that’s brought labels such as Jimmy Choo, Burberry and Armani to India. Space availability across malls is one of the key reasons brands pick Delhi over Mumbai or Kolkata. “Delhi is also home to India’s only real luxury mall, the DLF Emporio, which makes it the obvious and viable choice for international luxe brands,” adds Mehra. In terms of brand persona, retailers find the real-estate climate in the capital the most suitable for their entrance. With regards to government policies, Mehra says that a status-quo is being maintained since a while and the FDI regulations have not eased off further.
A highly cash rich environment, Delhi’s luxury industry merely mirrors the market it thrives in. The per capita annual income in the capital accounted to INR 2.01 lakh in 2012-13, which is three times the national average and highest in the country. It is estimated that 25 per cent of India’s prosperous population resides in Delhi with an ever increasing base of ultra high-net worth households (HNHs). The purchasing power of people is higher and luxury brands are looked upon as investments. “It’s a cultural difference of how wealth is displayed here”, says Abhay Gupta, CEO of Luxury Connect, a company that brought to India the likes of Versace and Corneliani. “The folks are more experimental and the socio-economic environment aids the higher sale productivity of luxury brands,” he adds.
The Delhi consumer is wired differently and the way luxury is consumed in the capital differs from the other metropolitans of India. “The customers here are highly brand identity driven. The ability and want to spend here is more,” says Nikhil Mehra. “Luxury brands cater to two types of customers in Delhi, while one is young and aspirational, the other is experienced, well-travelled and exposed to luxe products.” In the luxury space here, there is something for everybody. “While shoes and accessories work well with women, watches and clothing work better with men,” he elaborates. “Concierge services too are gaining momentum as the Delhi customer is leaning more towards the experience rather than the product itself.”
Apart from the malls, luxury brands are also venturing into the high-streets in south Delhi due to lower rentals. Indian luxe brands are mushrooming up in areas such as Khan Market, Haus Khaz Village, the Crescent at the Qutub and Defence Colony. You are more likely to spot a Tarun Tahiliani or Rohit Bahl store rather than say, a Fendi store in one of Delhi’s swanky high-streets. Rentals are much lower and Indian luxury labels are more experimental in terms of visibility. High-street stores are also easily accessible to the affluent population that resides within proximity. Kitsch, a retail store that stocks exclusive luxe products from brands such as Alexander McQueen, Diane von Fürstenberg and Charlotte Olympia has also shifted to Defence Colony from DLF Emporio to join the bandwagon.
Supportive real-estate within a cultural climate that welcomes luxury with open arms; and we have a winner. Brands such as Villeroy & Buch and Bvlgari that had previously exited India have found their way back despite legal hindrances thanks to Delhi’s favourable business conditions. As the city expands in terms of infrastructure, it further widens its horizons to other luxury brands that are still trying to figure out the right waters to test in India.
As India rides on the wave of development with the new government, Delhi leads the way for the rest of the country. With its iconic grandeur, lucrative industries and favourable trade climate, to say that the capital is a prototype for a progressive Indian business city isn’t an over-estimation. Before I knew it, it was time to depart on my Go Air flight which was delayed by almost an hour this time. The delay failed to tarnish my altered perception towards the city as I left calculating my next visit. Safe to say I can’t wait to experience Delhi’s unashamed splendour once again.
WHAT TO SEE
Delhi echoes of a past that transcends through the caverns of India’s rich history. Relics from Mughal and British empires can be be found in different areas weaving Delhi into a culturally hybrid epicentre. Mahabharata, India’s most epic mythological battle is believed to be fought on the grounds of Indraprastha, that is believed to be located in present day New Delhi. The period between the eighth and 16th century witnessed some of the most powerful invasions by Mughal Emperors that conquered Delhi to establish their dynasties in India. Remnants of these empires effortlessly blend into Delhi today, adding a medieval grandeur to this historical amalgam. Be it a causal walk through Lodi Gardens to stumble across tombs of powerful Mughal Emperors, or a walk through Delhi’s oldest and busiest market, Chandni Chowk to encounter the Red Fort, you are never too far away from history. If you fancy a lunch with a view, you could choose to dine at one of many restaurants and bars across the Qutub Minar, a Mughal Tower that is declared as a World Heritage Site by the UNESCO.
Multifaceted in many ways, it’s difficult to overlook the versatility this city offers. In 1911, when the British empire decided to move India’s capital from Kolkata (Calcutta then) to Delhi, Sir Edward Lutyen with his team of architects laid out the architectural foundation of this imperial hub. At the heart of the city, stupendously stands the Rashtrapati Bhavan (the Viceroy’s house then) that sits at the top of Raisina Hill, the seat of the Government of India. The Rajpath (the King’s Way then) connects you to the most definitive monument of the city, the India Gate, a war memorial for Indian soldiers who sacrificed their lives during World War-I. A couple of minutes away, and I found myself in an area that is considered to house the most expensive real estate in India, perhaps even the world. The Lutyens Bungalow zone, an area sprawling 26 kilometres of lush greens, manicured lawns and grand mansions, is home to several bureaucratic and business stalwarts from across the globe.
WHERE TO STAY
The Claridges
Located in the heart of Aurangzeb Road in Lutyens Delhi, The Claridges is a home-grown Indian hotel that is unabashedly charming. This 140 room property combines old-world elegance with contemporary luxury and follows the ethos of gracious Indian hospitality. Sitting on a lush garden that hosts several business and leisure occasions, the hotel is a nostalgic favourite amongst patrons. The property also has an executive lounge, The Viceregal and The Senate for business events, and the grand Maharani hall for corporate meetings, conferences and social get-togethers. The exotic flavours at the in-house mediterranean restaurant Seville are definitely unmissable on a stay. claridges.com
ITC Maurya
Situated in the Chanakyapuri enclave of Delhi, this 485 room property strikes a formidable balance between being a business travel and luxury hotel. Influenced by the Mughal Mauryan Dynasty that gives it the name, the lobby of the property recreates the panelled dome of a Buddhist hall of worship with a majestic painted mural showing India in all its diversity. If you’re staying at the ITC, missing a dining experience at Bukhara, rated amongst the top 50 restaurants in the world would be a culinary felony. itchotels.in
The Imperial
Synonymous with luxury and art, The Imperial is perhaps the most iconic hotel in Delhi. All 235 rooms and suites are bestowed with state of the art amenities that offer bespoke convenience amidst complete serenity. The hotel stands tall in Janpath which was previously known as the Queensway in the British era. A mecca for art enthusiasts, the walls of the Imperial are home to the works of many artists. The Imperial’s Royal Ballroom is probably the only authentic ballroom left in the country that hosts a number of notable corporate, social, cultural and civic events. Known as a “museum hotel”, an art tour of the property is definitely advisable during your your stay. theimperialindia.com
