Q: Thank you for joining us, Deep. Let’s start with your journey. What inspired you to start MakeMyTrip?
Deep Kalra: Thank you for having me! The idea for MakeMyTrip came in 1999 when I saw a huge opportunity in India’s travel sector. At that time, booking travel was a cumbersome process—long queues, unreliable agents, and limited transparency. I had experienced the convenience of online travel booking while working in the U.S., and I wanted to bring the same seamless experience to Indian travelers.
Initially, we focused on NRIs booking tickets to India, but by 2005, with rising internet penetration, we expanded to the domestic market. The rest, as they say, is history!
Q: The dot-com bubble burst soon after MakeMyTrip was founded. How did you navigate through tough times?
Deep Kalra: Yes, the early 2000s were tough! The dot-com crash of 2000-01 dried up funding, and many startups shut down. We had to cut costs, focus on profitability, and survive without external funding.
Since NRIs were our initial customers, we concentrated on delivering great service, competitive prices, and a trustworthy platform. When the Indian economy and internet adoption picked up in 2005, we were in a strong position to scale.
Q: What were some key challenges in building an online travel platform in India?
Deep Kalra: There were several:
- Internet Penetration: In the early 2000s, internet usage in India was low, and people were hesitant to book online.
- Building Trust: Customers were skeptical about online payments and digital transactions. We had to educate users and build credibility.
- Competition: Once the industry started growing, we had to constantly innovate, improve service, and stay ahead of global players like Expedia.
- Scaling Operations: Managing airline partnerships, hotel bookings, and travel logistics required strong technology and customer support.
Overcoming these challenges required patience, persistence, and adaptability.
Q: MakeMyTrip went public on NASDAQ in 2010. What was that experience like?
Deep Kalra: It was a proud and humbling moment. We became the first Indian online travel company to get listed on NASDAQ. The IPO helped us raise capital to expand aggressively in India, improve technology, and acquire other travel businesses.
However, going public also brings higher expectations, financial scrutiny, and the responsibility to deliver consistent results. It was a big milestone but also the beginning of a new journey.
Q: The travel industry was hit hard by the COVID-19 pandemic. How did MakeMyTrip navigate this crisis?
Deep Kalra: The pandemic was the biggest challenge we had ever faced—travel came to a complete halt. Our priority was to support customers, process cancellations and refunds, and manage cash flow efficiently.
We also focused on post-pandemic recovery strategies, including:
- Contactless travel solutions
- Staycations and domestic tourism promotions
- Partnerships with hotels for safety-certified stays
We used this time to strengthen our technology and ensure we emerged stronger when travel resumed.
Q: As an entrepreneur, what are the key leadership lessons you’ve learned?
Deep Kalra:
- Customer First: If you focus on solving real problems, customers will trust your brand.
- Resilience Matters: Tough times will come—how you navigate them defines your success.
- People are Everything: Hire great talent, empower them, and build a strong team culture.
- Adapt and Innovate: Markets change quickly—stay agile, embrace technology, and keep evolving.
Q: What advice would you give to aspiring entrepreneurs?
Deep Kalra:
- Start Small, Think Big – Validate your idea, test it with early customers, and scale strategically.
- Be Ready for Setbacks – Every entrepreneur faces failures. Learn, pivot, and keep going.
- Focus on Execution – Ideas are important, but execution is everything. Stay hands-on, work hard, and build a great team.
- Follow Your Passion – Entrepreneurship is a long and tough journey. If you’re passionate about what you’re building, the hard work won’t feel like a burden.
Q: What’s next for MakeMyTrip?
Deep Kalra: The travel industry is constantly evolving. We are focusing on:
- Sustainable travel solutions
- AI-driven personalized recommendations
- Expanding in Tier 2 & Tier 3 cities
- Enhancing customer experience with technology
We believe the future of travel is seamless, smart, and sustainable, and we’re working towards that vision.
