K Raheja Group scion Rhea Raheja launches Impact Water with her school companion Ishaan Nangia

MUMBAI: Children of the wealthy often carve their own paths, and Rhea Raheja , scion of the K Raheja Group , is no exception. She has joined forces with her school companion Ishaan Nangia , a partner at Terra Casa Hospitality, to launch Impact Water , entering India’s $9.5 billion packaged water market .

This new venture puts the young entrepreneurs in direct competition with established players like Ramesh Chauhan’s Bisleri, Tata Group’s Himalayan, and Coca-Cola’s Kinley.

Rhea, at 23, and Ishaan, at 24, view their product as a more greener option in an industry dominated by plastic bottles. Impact Water uses recyclable paper cartons for its water. India permitted water to be sold in non-transparent cartons in November 2024.

Rhea first thought of the idea while studying in the USA, where bans on single-use plastic bottles on campus inspired her to explore sustainable hydration options. What began as casual conversations with Ishaan evolved into concrete plans for a product that is both practical and eco-friendly, leading to the creation of Impact Water.

The company, bearing the same name as its product, was formed in August 2024 with an initial funding of Rs 10 lakh, according to regulatory filings. The price for a 500ml carton is Rs 129, higher than the typical plastic bottles, which cost Rs 10 to Rs 20 for the same size. It is, however, more affordable than premium glass bottled water brands, which cost Rs 300 to Rs 350 for 750ml.

Impact Water offers bulk prices for large buyers like hotels, enabling the company to meet sustainability goals without exceeding their budgets.

When asked if people would pay this much for water, the founders mention a 2023 Deloitte survey that says 75% of Gen Z and 64% of millennials in India are willing to pay extra for eco-friendly products . This shows consumers are buying more than water—they are buying purpose.

The founders anticipate significant growth in the bottled water market due to increasing health consciousness, e-commerce penetration, and unreliable tap water infrastructure. Research from IMARC suggests that the market will reach $29.7 billion by 2033, growing at a CAGR of 12.45%.

Rhea says, “We are building Impact Water’s reach through multiple channels.” The company plans to sell through delivery apps like Blinkit and Amazon as well as in premium stores to target conscious shoppers. “We are also building partnerships with HORECA, gyms, and co-working spaces to deepen on-ground visibility”, she adds. Her family-controlled K Raheja Group has interests in Chalet Hotels, Shoppers Stop department stores, Mindspace business parks, and other businesses.

Looking ahead, Ishaan envisions, “In five years, we want to achieve Rs 100 crore in sales. We aspire to introduce flavoured water with no added sugar, drinks with electrolytes, and offer customized co-branded cartons for events and conferences.”