Highlights:
Indian corporations are poised to become major brand owners in the United States, helping expand India's soft power beyond Bollywood and information technology services, according to Ritesh Agarwal, founder and CEO of OYO-parent firm PRISM.
Speaking at a fireside chat organized by the Consulate General of India in New York, Agarwal highlighted the growing influence of Indian companies and the role of technology in driving that change.
Agarwal pointed out that India is home to the second-largest office presence for FAANG companies, the group that includes Facebook (Meta), Amazon, Apple, Netflix, and Google.
He said PRISM has aggressively expanded its international presence and now generates its largest share of sales in the United States.
“We are also the single largest economy hotel brand owner here in the US, with the acquisition of Motel Six,” he said.
In 2024, OYO completed the acquisition of G6 Hospitality, the parent company of Motel 6, for $525 million. Motel 6 is the largest owned-and-operated hotel chain in North America.
"I feel we are going to very quickly move to Indian corporations becoming large brand owners in the US very quickly, which means for the first time you'll find Indian brands that American consumers would be using, and they would appreciate the soft power that our country will generate beyond Bollywood and beyond the software services. And that will happen because of the existence of technology,” Agarwal said.
He added that Indian companies are likely to increase investments in consumer-focused businesses in the United States.
“I think in the future you will start seeing large investments with consumer-driven businesses” in the US, much like what European and Southeast Asian brands create. “I think India’s time is now.”
The discussion, titled ‘India’s Startup Ecosystem, Hospitality and Tourism Opportunities’, was moderated by PRISM Group President – Strategic Initiatives, Nitin Thakur.
When asked about opportunities in the United States, Agarwal pointed to the housing sector.
“The one challenge that I find most exciting is housing in America, which is the US housing remains under stress, has been for a very long time.
“We are trying to change it with our extended stay effort… I almost think of it like an interplay between hotels and housing, which is somewhere in the middle. I think that's an opportunity I find very, very exciting in the US right now,” he said.
The event took place amid reports that PRISM has received approval from the Securities and Exchange Board of India (SEBI) to raise Rs 6,650 crore through an initial public offering.
PRISM had filed its draft IPO papers with SEBI through the confidential route in December 2025.
Agarwal was also asked about the upcoming IPO of Elon Musk-led SpaceX. He recalled attending a SpaceX launch last year after being invited by Musk as part of a small group of founders. The launch failed when the rocket crashed, but Musk remained calm and even joked about the setback.
"… That just told me about the ability to celebrate failure", and see it as a learning opportunity was fascinating, Agarwal said.
Speaking about Indian prime minister Narendra Modi, Agarwal said he often refers to him as the “startup Prime Minister” and praised government efforts to support entrepreneurship.
“India has offered close to USD 2 billion of capital to new startups. Almost no other country has done this around the world, and these are only first-generation new startups that are getting created," he said.
Agarwal also recalled meeting president Donald Trump and said the American leader's “business friendliness is something most people would not challenge. I think that's been a big reason for the Indian-American relationship over the many years.”
