Handpicked updates about India’s business and the business of India
SRK just got a 55-storey commercial tower in Dubai named after him. The tower, which is called Shahrukhz by Danube, only for the lack of better options we hope, will even feature a life-size statue of SRK in his signature arms-wide-open pose at the entrance. Honestly, that’s bad ass. But seems like when SRK is involved, aise bade bade logon ke liye aisi choti choti cheezen hoti rehti hain.
Now, let’s get into the Dispatch! 🚀
Today’s reading time is 7 mins.
Industry Trends
Advertising’s Identity Crisis, The Cracks In Big Advertising Networks
Image credits: Adgully.com
For decades, large advertising networks dominated the industry with big ideas, big budgets and even bigger reputations. But that era is rapidly dissolving. Legacy agencies are now battling falling valuations, shrinking margins, and constant restructuring. Their traditional model, built on long-term retainers, layered hierarchies, and brand-building campaigns - simply cannot keep pace with the speed at which brands operate today. What once felt like stability now looks like stagnation.
Performance Marketing Has Taken Over: Today, marketing decisions revolve around dashboards, data streams, and measurable outputs. Brands are less interested in award-winning films and more focused on conversions, cost-per-click, and return on ad spend. This shift has pushed performance-driven firms and digital-first players to the forefront. They offer what modern businesses want: real-time optimisation, rapid experimentation, and transparent metrics. As budgets move towards performance, big networks find themselves losing ground in areas where they once had complete dominance.
The New Kings: The biggest beneficiaries of this shift are agile, independent agencies and tech-enabled creative firms. Unburdened by legacy structures, they produce high-volume content tailored for multi-platform consumption. These agencies excel at quick turnarounds and cost-efficient delivery, making them the preferred partners for startups and new-age brands. Their blend of creativity, analytics, and speed reflects exactly what the market now demands, constant content at scale backed by measurable impact.
Why The Old Guard Is Struggling To Adapt: Legacy networks face an identity crisis. Their size, once an advantage, now slows them down. Multi-layered approval systems, siloed teams, and outdated pricing models make it hard to compete with nimble players. Meanwhile, the pressure to merge creativity with data is mounting. But transformation is proving far more complicated than anticipated. Many networks are still figuring out how to integrate tech, analytics, and creative talent without diluting their strengths.
Attempts At Reinvention: To stay relevant, big networks are restructuring their operations and consolidating their creative, media, and digital divisions. Some are embracing AI tools to speed up production, while others are focusing on hybrid teams that blend storytelling with performance metrics. But progress remains uneven, and many agencies are stuck between preserving their heritage and evolving for the future.
Business India: Dhanda Hai Yeh!
Image credits: Business Standard
Gems & Jewellery Exports Slump: India’s gems and jewellery exports dropped by ~31% in October, falling to USD 2.17 billion, according to GJEPC data. The decline is largely blamed on weak global demand, volatile bullion prices, and earlier US stocking ahead of tariffs. Exports of cut and polished diamonds dropped by almost 27%, while gold jewellery exports fell around 25%. Lab-grown diamond exports also suffered, compounding pressure on the sector.
Export Gains From US Tariff Rollback: Roughly USD 2.5–3 billion of Indian exports are set to benefit from recent US tariff exemptions, says Ajay Sahai of FIEO. The relief primarily favors agricultural and high-value food products, including coffee, cashew nuts, tea, and spices. These exemptions open up “space for premium, speciality, and value-added products,” according to Sahai.
How SpiceJet Is Hanging On: SpiceJet remains financially fragile: in Q1 FY26, it reported a loss of INR 238 crore, citing airspace restrictions and grounded aircraft. Around 40% of its fleet is grounded, and its domestic market share has shrunk to below 4%. To stay afloat, the airline raised INR 3,000 crore via a QIP and has begun reactivating grounded planes. However, high fixed costs from old leases, liabilities, and underutilisation stretch its recovery potential.
Russian Oil Imports: India remained the world’s second-largest buyer of Russian crude in October, importing about $2.9 billion worth. The surge comes despite fresh U.S. sanctions on Russian oil giants like Rosneft and Lukoil. Analysts say India is leveraging steep discounts on Russian oil, a shift made possible by Western restrictions on European buyers.
Google’s Big Bet In Andhra Pradesh: Google is expected to scale its investment in Andhra Pradesh beyond $15 billion over the next five years, according to CM N. Chandrababu Naidu. The company plans to build a major AI-driven data centre in Visakhapatnam, which would anchor a broader strategy to make the state a global data-centre hub. Naidu says this investment is just the beginning, hinting that Google could double its commitment over time.