Aug 26: Indian Whisky winning awards, healthy snacks are up

Good morning! Making the list today of things you never thought you’d hear - BoAt CEO Aman Gupta revealed that the company used Archana Puran Singh’s laughter as the ultimate sound barrier test for a new range of noise-cancelling headphones. Just imagine the sound engineers spending days and nights in a closed room, replaying the earphone-piercing laughter over and over until they got it right. They’re not the heroes we deserved, but the heroes we needed.

Now, let’s get into the Dispatch! 🚀

Today’s reading time is 6 mins.

The Indian market kicked off the week on a positive note on Monday, buoyed by hopes of a Fed rate cut, which gave a boost to IT and metal stocks.

Snacking goes healthy: For decades, India’s snack shelves have been ruled by the fried and familiar - namkeen, bhujia, banana chips, and masala wafers. They’ve powered train journeys to and hostel nights with equal ease. But the scene is shifting and fast. A new generation of consumers is reaching less for oily fritters and more for peri-peri makhana, protein wafers, and seed mixes, snacks that promise indulgence without guilt. By 2033, India’s snacking market is projected to touch ~$11 billion, according to IMARC, while the healthy snacking segment is set to grow to $4.6 billion. This shift has been led by startups breaking the old “healthy equals boring” myth. With brands like Bonvie, Farmley and Khetika gaining popularity with products like peri-peri makhana and seed mixes in clean, modern packaging.

The numbers: The data suggests mindful snacking is no fad. Healthy snacks are growing 1.2 times faster than traditional ones, and single-serve packs are expanding 60% faster than regular sizes. NielsenIQ reports that 72% of Indians now say health drives their snacking choices, with nearly half reading ingredient labels carefully. Regional preferences are also shaping innovation: the south leans towards healthy ingredients, the west prizes nutrient density, while taste remains paramount in the north and east. Quick-commerce platforms like Blinkit and Swiggy Instamart are accelerating adoption beyond metros, with tier-2 and tier-3 cities catching up fast.

Big players circling: Marico has acquired healthy snack labels, while IPO of companies like Gopal Snacks indicate investor appetite for the segment. Consolidation seems inevitable. For now, however, the new healthy-snack startup wave is thriving on agility, design-led branding, and cultural resonance.   

A Local Pour for the Global Audience: DeVANS Modern Breweries is making waves on the global whisky stage. Its newly launched single malts, Adambaraa and Manshaa, have bagged top honours at two of the world’s most prestigious whisky competitions this year. With these wins, DeVANS joins the ranks of India’s finest homegrown distilleries putting Indian malts on the world map, challenging long-held dominance by Scotch and Japanese labels.

Maker’s Mark: India’s whisky story is no longer just about consumption, it’s about creation. Once dismissed as imitators of Scotch, Indian distilleries are now challenging traditional powerhouses, carving out a unique identity on the global stage. With changing social attitudes, rising disposable incomes, and a taste for premium spirits, the country’s whisky market is projected to grow at nearly 20% annually over the next decade.

Movers and Shakers: The revolution began in 2010, when Bangalore-based Amrut stunned critics with Amrut Fusion, hailed by whisky writer Jim Murray as the “third finest whisky in the world”. Two years later, Goa’s Paul John entered the scene, and between them, the pioneers proved Indian single malts could compete head-to-head with Scotch and Japanese whiskies.

Awards and Accolades: Global recognition has followed. Amrut, Paul John, and Rampur have together won hundreds of international medals, with Amrut recently bagging three Double Golds at the 2025 San Francisco World Spirits Competition. Exports of Indian whisky have surged over 200% since 2016, now reaching more than 60 countries. Domestically too, Indian single malts have now overtaken Scotch in volume, accounting for more than half the premium whisky market.

Gaming freeze: The Indian government’s ban on real-money gaming has put nearly $15 billion in venture capital investments at risk.

Profits, not plots: Karnataka says no more cheap land for companies; states should stop wooing investors with land banks and subsidies, and instead offer better infrastructure and simpler rules.  

Fitch affirms India: Fitch ratings reaffirmed India at BBB- with a Stable outlook, citing robust growth and solid external buffers; it added that any GDP hit from global tariff moves should be modest because India’s economy is relatively closed to trade. 

RBI's Promise: RBI Governor Sanjay Malhotra said the central bank is ready to take "calibrated action" to counter any growth impact from potential US tariffs. The RBI has already cut its repo rate by 100 bps between February and June, holding it at 5.5% in August, and has trimmed its FY26 GDP forecast to 6.5%.  

India’s tariff move: India has hired a second U.S. lobbying firm, Mercury Public Affairs, for $75,000 monthly, to counter the impending 50% U.S. export tariff. The move is aimed at strengthening India's position and negotiating an amicable solution to the trade dispute.

Strong reserves: RBI Governor Sanjay Malhotra confirmed that India's forex reserves, currently at $695 billion, are a robust buffer and sufficient to cover 11 months of imports, providing resilience amid global trade uncertainties.

China’s mega plan: China’s plan to build the world’s largest hydropower station in Tibet has triggered alarm across South Asia, raising fears of water scarcity, displacement, and a new front in regional geopolitics. Beijing’s Motuo Hydropower Station, set on the Yarlung Tsangpo (which becomes the Brahmaputra in India), is projected to cost $167 billion and generate three times the output of the Three Gorges Dam. While China frames it as clean energy under its xidiandongsong policy, sending western hydropower eastward, Indian officials warn it could cut downstream flows by as much as 85% in the dry season. Analysts describe the project as a potential “water weapon,” giving Beijing leverage over India and Bangladesh.

India’s counter: New Delhi’s answer is the Upper Siang Multipurpose Storage Dam (see image above), long on the drawing board but now fast-tracked. The NHPC-led project would store about 14 billion cubic meters, cushioning supply cuts and managing floods. But it comes at a steep local cost: the Adi community in Arunachal Pradesh fears submergence of 16 villages, affecting nearly 10,000 people directly and over 100,000 indirectly. Resistance has been fierce villagers have destroyed survey equipment and set up blockades forcing NHPC teams to work under police protection. Despite opposition, Arunachal’s chief minister backs the project, calling China’s upstream dam an “existential threat”. New Delhi is offering compensation, resettlement, and development incentives, but trust remains low. The region’s seismic volatility and fragile ecosystems add further risks, with experts warning of dam safety in the face of earthquakes, extreme weather, and glacial lake floods. 

Climate Hit: Egypt’s perfume industry, famed for supplying blossoms to global luxury brands like Dior and Gucci, is under severe threat as climate change scorches its fields. Farmers in Gharbia, known for supplying Jasmine and Orange blossoms, face rising temperatures, erratic rains, and dwindling yields. Once the pride of Egypt’s rural economy, these delicate Jasmine flowers now bloom less, wilt sooner, and bring lower incomes to growers already burdened by rising fertilizer and energy costs.

Fate of the poor: While global perfume giants continue profiting, the small farmers who form the backbone of the industry are left to fight climate challenges alone, with little government or corporate support. Without urgent intervention, Egypt risks losing not only its fragrant exports but also a centuries-old cultural legacy. The story of these farmers underscores a larger truth: climate change isn’t just about melting glaciers it’s rewriting the fate of livelihoods, one jasmine petal at a time.

Apple’s Foldable Future: Apple is all set to roll out the iPhone 17 lineup on September 9. But the real buzz is around Apple’s first foldable iPhone, tipped for a 2026 launch featuring a book-style design, dual displays, and a nearly crease-free screen. Apple has been losing ground to Samsung’s foldable phones, so it seems they’re coming around to facing the growing competition.

China’s Retail Investors Fuel Market Rally: Chinese stocks are hitting multiyear highs as households, sitting on record savings of over $22 trillion, pour money into markets. With retail investors driving 90% of daily trades, China’s rally stands in sharp contrast to the institution-led U.S. markets. 

Marketing Misfires: American Eagle, Swatch, and Sanex face backlash for tone-deaf campaigns, sparking fresh debate on where bold marketing ends and offense begins.

Dr Pepper’s Into Coffee: Keurig Dr Pepper is set to acquire JDE Peet’s for $18 billion, aiming to rival Nestlé. The deal plans to split coffee and beverage operations into two U.S.-listed companies, marking Europe’s largest acquisition in over two years. 

Court’s ruling on PM’s degree: The Delhi High Court has quashed a 2016 Central Information Commission (CIC) order that directed Delhi University to disclose information regarding Prime Minister Narendra Modi's bachelor's degree.

Gurugram firm under ED radar: Krrish Realtech, a Gurugram-based realty firm, is under investigation by the Enforcement Directorate (ED) for allegedly defrauding over 400 homebuyers of more than ₹500 crore, and diverting ₹205 crore to a hotel and real estate project in Colombo.

Diamond rush of Andhra: In Andhra Pradesh's Rayalaseema, villagers and farmers search for diamonds after monsoon rains. In a long held tradition and fuelled by stories of valuable finds people flock to the area in the hope to change their fortunes.

India’s saving surge: A Goldman Sachs report projects India's household savings will generate $9.5 trillion in inflows into financial assets over the next decade, with financial savings averaging around 13% of GDP, marking a shift from physical assets.

THAT’S ALL FOR TODAY!

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