Best of the Week | Corporate India is changing. For the better? Eh.

Dear reader,

This week, two major developments reshaped India Inc., marking a turning point for consumer-facing businesses across the country.

First, Maruti Suzuki launched the new edition of the Swift Dzire, now equipped with a 5-star safety rating—a first for Maruti’s cars in India. While many might dismiss it as just another fleet vehicle (as the owner of a second-hand Wagon R, I know this feeling all too well), this marks a significant shift for the automaker.

For years, car enthusiasts have dismissed Maruti models as “tin cans” unlikely to withstand impact, while Maruti itself has historically lobbied against stricter safety standards.

I don't blame them: they have a business to run, and safety equipment can significantly raise the starting prices of the cars that Maruti sells. About 10-12 years ago, an entry-level Alto cost around ₹3 lakhs, a figure that’s now at least ₹4.5 lakhs. But now, the country’s largest automaker seems to be taking safety more seriously. Credit is due, in part, to Tata Motors, which has raised the bar on what consumers expect from a basic car.

The other major shift came with the merger of Air India and Vistara. IndiGo also launched its own business class, but as someone who's never flown business class, I consider that development irrelevant.

My Twitter feed, which is mostly journalists, was filled with nostalgia, farewells, and reflections on the Vistara-Air India merger. While we expect impartiality from journalists, their fond memories show just how impactful these changes can be for those of us watching from the sidelines.

Anyhow, on to this week's best works from our impartial newsroom:

🚨 A few months ago, I wrote about my close call with an elaborate scam caller. It turns out I’m far from alone—there's been a stark rise in cyber crimes of late. Scammers often impersonate police officers, convincing victims that they're implicated in money laundering. Many have lost lakhs, even crores, to these schemes. Suman Banerji reports that over 1.5 million cyber crime complaints were filed in 2023, though experts believe the true number is even higher, as many cases go unreported due to victims' embarrassment and indifference from local authorities. The victims span all demographics, including younger, tech-savvy individuals who still find themselves ensnared.

🇺🇸 If your company does business in the US, you're likely considering the implications of Donald Trump’s potential return to office. Law firms are inundated with similar queries. Krishna Yadav reports that legal advisors are urging clients to add protective clauses, like 'Force Majeure' and 'Material Adverse Change,' to their contracts. The worry is that Trump’s 'America First' stance could complicate investments and invite heightened scrutiny. As a result, cross-border deals may stall until there’s greater clarity on international policy direction.

📊 How will Trump’s victory impact your portfolio? In the West, markets initially surged, with spikes on Nasdaq and in Bitcoin. However, as Abhishek Mukherjee notes, this early optimism quickly faded. Investors began weighing the broader implications of Trump’s policies on global markets, including India, triggering significant sell-offs. While some initial concerns linger, the Indian IT sector may benefit from Trump’s proposed economic measures. However, tighter immigration policies could challenge Indian companies, potentially forcing them to hire more US citizens to navigate these changes.

🍕 ESOPs, or employee stock options, were once primarily a startup incentive, aimed at luring mid- and junior-level employees away from established companies. Now, however, even large companies have embraced the trend. Devina Sengupta and Sneha Shah report that firms are increasingly offering ESOPs to middle and junior management to retain top talent. This benefit, traditionally reserved for senior executives, is now spreading across sectors like IT and e-commerce, signalling a shift in how companies compete for niche talent—even at junior levels. Additionally, these companies may soon roll out other startup-style perks, such as flexible work arrangements, to attract and retain talent.

💰 A loan from your…packer and mover? It seems every startup eventually ventures into fintech—at least, that’s the case with NoBroker. Originally focused on real estate, then expanding into packing and moving, NoBroker is now offering loans. Sowmya Ramasubramanian reports that the company is betting on lending becoming its second-largest revenue stream soon. In an insightful interview, she speaks with NoBroker’s co-founder about the company’s current strategy and future ambitions.

🛑 Finfluencers now have a new concern: YouTube. The Google-owned platform has begun blocking videos following complaints from a government entity, sparking backlash and potential legal action from creators. Many finfluencers claim their videos were removed without prior notice, report Pratishtha Bagai and Neha Joshi. In its response to Mint, YouTube stated that it complies with local laws and processes removal requests accordingly. However, finfluencers are accusing the platform of censorship.

🔎 Indian authorities are facing hurdles in investigating a recent surge of bomb hoaxes due to strict European data protection laws. Shouvik Das reports that while Indian officials need specific warrants to request information from European countries, these requests are often denied, with European agencies citing stringent privacy regulations. Tracking the origin of these threats is complicated further by the use of virtual private networks (VPNs), which obscure user identities. Additionally, India’s lack of formal data-sharing agreements with Europe hampers cross-border information exchange, slowing the investigation significantly.

🗳️ As I’ve mentioned before, at Mint, we occasionally dive into political reporting. This time, we invited Anuja, an independent journalist, to deliver an on-ground perspective from Maharashtra. In their report, one factor stands out for the upcoming state elections: freebies. Populist schemes remain highly popular, and voters across the state may lean towards the party offering them in abundance.

⌚️ Over the past year, I’ve developed quite an interest in watches. It’s an expensive yet fascinating hobby, and appreciating timepieces for their blend of science and art is genuinely enjoyable. So Bibek Bhattacharya’s piece on rectangular watches immediately caught my attention. Globally, only two companies are renowned for their rectangular watches: Cartier and Jaeger-LeCoultre. In Lounge, Bibek delves into the history, design, and legacy of these iconic ‘tank’ watches.

☀️ This week, Bibek took on a new role as a newsletter writer. Together with Sayantan Bera, he’ll be delivering Climate Change and You, a fortnightly newsletter. You can check out the debut edition here and subscribe via this link.

That's all I have for you this week. If you have any feedback, please write to shashwat.mohanty@htdigital.in.

Best,

Shashwat Mohanty

Assistant Editor