India Business
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Why Blaming Gen Z Is a Lazy Diagnosis
Marketing and management conversations often turn complex ideas into neat labels, and segmenting people into categories is a favourite tactic. We now have labels like aspirational, digital native, purpose-driven, urban millennial, and so on. It makes managers sound knowledgeable and helps create neat stories – and even neater PowerPoint slides. These classifications can make sense Continue reading
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Devyani and Sapphire – merging to survive?
Desi cuisine strikes back Some years ago, foreign-branded quick-service restaurants (QSRs) were hot favourites among investors, including institutions. The hypothesis was simple: Under-penetration, a growing middle class, and proven international brands. Initially, the hypothesis appeared to play out – and these companies expanded rapidly, opening hundreds of outlets across India. However, in recent years, same-store Continue reading
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An inflection point for e-commerce and quick-commerce
Quick commerce redefined Indian retail in 2025. Blinkit, Instamart and Zepto delivered explosive growth, pushing incumbents like Flipkart and Amazon to (reluctantly?) launch rival formats. Blinkit, Instamart and Zepto all doubled revenues in FY25, with momentum continuing through 2025. In a single quarter (Q2FY26), Blinkit delivered a net order value of ₹11,679 crores, up 137% Continue reading
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Ten Predictions for 2026
Most (all?) predictions are useless, but they’re fun to make – so why not join the party? Here’s my list, in no particular order of importance. Trump will continue to create mayhem, while getting richer: This is a given. Stealing oil tankers, arbitrary tariffs and sanctions, fights with institutions and friends will no longer be Continue reading
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India’s New Labour Codes – 2: Wage & Benefit Uniformity
When “wages” finally mean wages — and everyone gets counted Last week, we discussed how the simplification of labour laws benefits employers. But simplification is not a one-sided gift. Employees, too, stand to gain — and in some cases, quite substantially. Overlapping definitions and rules not only increased compliance costs, but employees often did not Continue reading
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India’s New Labour Codes: A Once-in-three-Generations Cleanup
From 29 tangled laws to 4 clear codes — why simplification matters India’s new labour codes were finally (finally!) made effective, only six years after being enacted. Some are touting this as the biggest reform since GST, maybe even bigger. Like GST, it impacts every enterprise or business; but it also directly impacts every employee. Continue reading
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The curious case of India’s quality control orders
How India’s QCO spree became a master-class in shooting ourselves in the foot Several years ago, a group of important policy makers and officials sat down to discuss how to boost domestic production and curtail imports. Some bright spark provided a (seemingly) magic solution – the use of “Quality Control Orders” (QCOs). Under a QCO, Continue reading
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Rare Earths and India: Trying to run with one leg tied
Rare Earths and India: Trying to run with one leg tied In recent months, the term “rare earths” has entered drawing-room conversations, fueled by continuous media coverage. The immediate cause for this is China’s blockade of these (and other critical) minerals and their derivative products, in retaliation for Trump’s tariffs. Suddenly, we learnt that India Continue reading
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Diwali Fireworks and FDI
While complaining to a friend about writer’s block (side effect of an overdose of Diwali sweets?), he suggested I look at the recent Emirates NBD acquisition of RBL Bank. This deal is significant for several reasons. It’s the first time we’re seeing a majority stake sale in a listed Indian bank. The investment amount is Continue reading
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When Twenty-Somethings Build Unicorns and Rockets: The New India
When I finished college in 1983, start-up was not even a word! There were no VCs and no angels. The few brave entrepreneurs were suppressed, heavily taxed, lacked access to capital and were viewed suspiciously by our socialist leaders. The Babus decided who could make what, where and in what quantity – and who they Continue reading
