Handpicked updates about India’s business and the business of India
Today, before the headlines, we remember Dr. Jane Goodall — the woman who transformed how we see the natural world. More than a scientist, she was a gentle force whose decades of work in Tanzania revealed chimpanzees’ intelligence, emotions, social bonds, and even tool use, reshaping our understanding of our kinship with other animals. She challenged convention and devoted her life to conservation with rare grace and courage. She built Roots & Shoots to mobilize youth in 100+ countries, authored bestselling works, and earned global honors including Dame Commander of the Order of the British Empire, the French Legion of Honour, Japan’s Kyoto Prize, and the UN Messenger of Peace designation. Her legacy is not just in data, but in providing a belief that curiosity and compassion can reshape the future and our bond with nature. RIP to a true legend 🫡
Now, let’s get into the Dispatch! 🚀
Today’s reading time is 6.5 mins.
Business & Industry
Booze Gets a Boom in India and Sazerac Wants In
Image credits: Lane Report
Toasting A High: India’s alcohol market is set for a revenue jump of 10–12% in FY26, driven by premiumisation and state-approved price hikes, even as volumes rise just 1–2%, per ICRA. The shift toward higher-quality products is lifting value growth.
Beer Outpaces Spirits: The report states beer is expected to outpace spirits, with 4–6% volume growth, while IMFL and country liquor could see declines amid higher taxes and prices. Operating margins remain steady at 13–14% on stable input costs; while capex will remain moderate for capacity additions.
Demographics, Urbanisation Fuel Growth: India, the world’s third-largest alcohol market by volume and second-largest for spirits, benefits from a young base—over 65% of consumers are under 35—and expanding urbanisation in tier-2 and tier-3 cities, increasing access and demand.
Premiumisation And Foreign Investment: Premium products are seeing a rise in demand, with consumers increasingly seeking quality over quantity. Reduction in import duties due to tariff negotiations with the US, has drawn interest of foreign players in the market. Open policies and state incentives are encouraging local production, notably in wine and premium spirits. Whiskey still dominates, but beer and wine offer strong growth potential.
Sazerac Sets Eyes on India: Global spirits giant Sazerac has flagged India as central to its long-term growth strategy, targeting a premium whiskey segment that has more than doubled in five years. It plans to introduce bourbons from its global lineup—Buffalo Trace, Weller, Benchmark, and Sazerac Rye—for consumers seeking higher quality.
Technology
Arattai App Goes Viral but can it Bite?
Image credits: Mint
Fuelling The Chats: Arattai, Saas giant Zoho’s Chennai-built messaging app, is suddenly surging, with traffic up 100x in days after endorsements from Union ministers Dharmendra Pradhan, Piyush Goyal, and Ashwini Vaishnaw. Launched in 2021 as a domestic Made-In-India alternative to WhatsApp, it’s benefiting from a wave of nationalist support and investor interest.
Features That Chat Up Users: Arattai offers standard features—text and voice messaging, audio/video calls, group chats, media sharing, and story updates. Its cross-device support, across smartphones, tablets, desktops, and a web app, ensures seamless syncing of messages, contacts, and settings. Zoho also pitches it as a future hub for workflow and productivity integration.
Rapid User Growth But Can It Last? Market intelligence firm Sensor Tower estimates nearly 400,000 downloads in September, up from under 10,000 in August. Arattai claims over 1 million active users—a fraction of WhatsApp’s 500+ million Indian users—yet the momentum is notable. Analysts caution, however, that WhatsApp’s entrenched network effects remain a hurdle.
Challenges Loom: Beyond scaling infrastructure and customer support, Arattai must earn trust on privacy and data security amid concerns over government data access. Past challengers like Koo and Hike saw hype fade without sustained adoption. For messaging platforms, the real test is not downloads, but consistent engagement.
Business India: Dhanda Hai Yeh!
Image credits: Mint
Water that Fits the Budget: Reliance Consumer Products is set to launch Campa Sure, a budget packaged water brand aiming to disrupt India's ₹30,000-crore market. Reliance aims to partner with regional bottlers and offer prices 20-30% lower than competitors like Bisleri, Kinley, and Aquafina.
Tariff Impact Hits Indian Exports: U.S. tariffs of 50% on Indian goods are biting textiles, gems, agriculture, and engineering. Exports have slowed, supply chains are disrupted, and financial strain is mounting. The agricultural sector, particularly shrimp, basmati rice, and cotton, face halted shipments and unsold stock, risking significant job losses. The broader economy is also feeling the pinch, with manufacturing and services activity declining.
SKF India Ramping Up Capacity: SKF India plans to invest up to ₹1,460 crore by 2030 to enhance manufacturing capabilities across its industrial and automotive sectors, with increased capacity at its Haridwar, Pune, and Bangalore facilities. SKF India completed a demerger of its industrial business, pursuing a separate listing by November 2025.
Equities Outflow Continues: Foreign Portfolio Investors (FPIs) withdrew ₹27,000 crore (approximately $3.2 billion) from Indian equities in September, marking the third consecutive month of outflows. This brings the total FPI outflows for 2025 to ₹1.43 lakh crore (around $17 billion)—the second-highest for Jan–Sep.
Centre Mulls Fund for Private Infra Investment: The Centre is weighing a ₹20,000 crore risk-guarantee fund to attract private infrastructure investment. The initiative is part of India's strategy to meet its ambitious infrastructure spending target of USD 4.51 trillion by 2030, essential for achieving the vision of a USD 5 trillion economy.
TCS Rolls Out Generous Severance Amid Layoffs: Tata Consultancy Services (TCS) is offering severance packages of up to two years' salary to long-serving employees whose skills no longer align with the company's evolving needs. This move is part of TCS's efforts to become a more agile organization in the era of AI-led business transformation.
Wintrack Exits India Amid Bribery Allegations: Wintrack Inc., a Chennai-based logistics firm, has ceased all import and export operations in India, alleging sustained harassment and bribery demands by Chennai Customs officials. The company claims that after exposing bribery practices earlier this year, officials retaliated, crippling its operations. In response, Chennai Customs denied the allegations, labeling them as false and part of a pattern of unsubstantiated claims. The Finance Ministry has ordered a thorough inquiry into the matter.
JP Morgan Values Reliance Retail at $143B, Jio at $135B: JP Morgan has valued Reliance Retail at $143 billion and Reliance Jio Infocomm at $135 billion, indicating the growing significance of Reliance Industries' consumer businesses. These sectors now account for over half of the group's earnings before EBITDA.
RBI Halts Simpl's BNPL Operations: The RBI ordered fintech startup Simpl to cease its payment operations for violations of the Payment and Settlement Systems (PSS) Act, 2007. Simpl, which partners with over 26,000 merchants, was found to be operating a payment system without the requisite authorization.
World 🌏
Nadella Shifts Focus as Microsoft Doubles Down on AI
Image credits: StartUp Insider
Microsoft Accelerates AI Push: In a strategic leadership shuffle, Microsoft has freed up CEO Satya Nadella from certain operational duties to focus more on AI, product innovation, and data centers. Longtime Microsoft sales executive Judson Althoff has been appointed CEO of the Commercial Business unit, overseeing operations, marketing, and customer engagement, with CMO Takeshi Numoto also joining the unit.
Global Tech Giants Similar Moves: Microsoft is not alone in restructuring to prioritize AI. Apple named Mike Rockwell to lead Siri while John Giannandrea focuses on AI/ML. Google consolidated Gemini under DeepMind and appointed Koray Kavukcuoglu as Chief AI Architect. Amazon, too, revamped leadership with Albert Cheng leading AI investments and tools as it realigns Prime Video and sports.
World 🌏
Singapore Grand Prix Declared A Heat Hazard
Image credits: AP News
Heat Hazard Rule Comes To Singapore: Formula 1’s governing body, the FIA, has declared this weekend’s Singapore Grand Prix a “heat hazard”, allowing drivers to use cooling vests with temperatures above 31°C and high humidity. Vests aren’t mandatory, but all teams must fit them to avoid weight advantages. It’s the first formal application of the 2025 rule. Singapore is already one of F1’s most gruelling races—long, humid, and bumpy—following Qatar 2023, where extreme heat overwhelmed drivers. Cockpit temperatures can exceed 60°C and safety remains the priority.
Climate Change And Sports: The heat hazard spotlights how climate change is impacting professional sports. Rising temperatures and extreme weather are reshaping safety protocols, schedules, and equipment. F1’s use of cooling vests reflect a broader shift—sports adapting to a warming planet while balancing competitiveness and safety.
DuniyaDIARY 🌏📒
Image credits: ABC News
P&G Bids Pakistan Goodbye: Procter & Gamble (P&G) has announced plans to exit Pakistan, including its manufacturing and Gillette division. This move is part of a global restructuring plan and follows similar exits by companies like Shell and Pfizer.
Tariffs Force Pressure on Small Business: U.S. small businesses face rising costs under Trump’s tariffs, squeezing profit margins and prompting price hikes and layoffs; unlike large firms, they lack the flexibility to stockpile or easily pass on costs.
Elon Musk Hits Historic $500 Billion Milestone: Elon Musk has become the first person ever to reach a $500 billion net worth, driven by gains in Tesla stock and the rising valuations of SpaceX and xAI. Tesla shares surged nearly 4%, adding about $9.3 billion to his fortune. The milestone coincides with Tesla’s proposed $1 trillion compensation plan for Musk, tied to ambitious targets like delivering 20 million vehicles annually and producing 1 million AI humanoid robots within the next decade.
OpenAI Achieves $500 Billion Valuation: OpenAI’s valuation reached $500 billion via a $6.6 billion employee secondary sale. Investors included Thrive Capital, SoftBank, Dragoneer, MGX, and T. Rowe Price. The jump from a $300 billion valuation shows strong confidence, with ARR reaching $13 billion and expected to surpass $20 billion by year-end. OpenAI is on track to meet its full-year revenue and cash-burn targets of $13 billion and $8.5 billion, respectively.
BYD Sales Slip in September: BYD’s September deliveries fell 6% year over year to 393,060, its first monthly decline of 2025. Increased competition from rivals Leapmotor, Xpeng, and Nio led BYD to cut its 2025 target up to 16% to 4.6 million. Despite the slowdown, BYD retained market leadership, capturing over 54% of total EV sales in September.
U.S. To Share Intelligence With Ukraine: The U.S. will provide intelligence to Ukraine on long‑range energy targets in Russia—refineries, pipelines, power plants—to disrupt revenue. NATO allies are urged to do the same, and Tomahawks are under consideration, reflecting Trump’s tougher stance on Russia and pressure on buyers of Russian oil.
"Stratus" Fuels Infection Surge: A highly transmissible COVID-19 strain, XFG or “Stratus,” is driving rising infections across the U.S., spreading to 38 countries. This hybrid Omicron variant bypasses immunity from prior infections or vaccines. Most cases remain mild, though symptoms like hoarseness and sore throat are common.
Gaza Flotilla Intercepted: Israeli forces detained over 400 activists, including Greta Thunberg, after intercepting a flotilla delivering aid to Gaza in international waters. Israel cited a naval blockade and security concerns, while critics called it unlawful. The incident drew global criticism, with Colombia expelling Israeli diplomats and Amnesty International condemning the blockade. The UN urged lifting restrictions to allow aid into Gaza.
Aur Batao 📰
India Pushes Single Operational Structure: India is fast-tracking unified theatre commands to integrate the Army, Navy, and Air Force under one operational structure, boosting coordination and efficiency. The approach was demonstrated in Operation Sindoor, where joint forces successfully targeted terrorist infrastructure in Pakistan and PoK.
GST Collections Defy Expectations: GST collections reached ₹1.89 lakh crore in September, up 9.1% year-on-year and defying expectations of a slowdown. This growth, reflecting August transactions, indicates a resilient domestic economy. Import-related GST rose 15.6%, driven by proactive stocking festive-season stocking.
Bumrah Sets Test Wickets Record: Jasprit Bumrah became the fastest bowler to claim 50 Test wickets in India, reaching the mark in just 24 innings. Bumrah matches the record held by Javagal Srinath, but in fewer deliveries. In the ongoing Test against the West Indies in Ahmedabad, Bumrah took 3 wickets for 42 runs, including a standout yorker to dismiss Johann Layne.
GOAT Tour, Messi Return To India: Lionel Messi has confirmed his participation in the 2025 GOAT Tour of India, marking his first visit in 14 years. The tour will commence on December 13, 2025, with stops in Kolkata, Ahmedabad, Mumbai, and New Delhi. In Kolkata, Messi will play at the Salt Lake Stadium, the same venue where he last played in 2011.
