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Transfin. Podcast E38: Spoon, Full, Sugar

Professor S

LongShorts 5 hours ago

  Dr Arun K Chopra, Director Cardiology (Fortis Amritsar) is a DM from AIIMS where he also served as an Associate Professor. He's a passionate student and practitioner of nutrition and fitness, having lost over 100kg (10kg, 10 times) of weight in his lifetime while developing an almost encyclopediac knowledge on the subject. Our chat touches upon something so harmful when taken out of control, but unfortunately also so ubiquitous, that we hardly notice it: sugar.     Dr Chopra deconstructs man's biggest rival in his battle against obesity, diabetes, and cardiovascular disease. In this hour-long conversation, we touch upon the following subjects:   1. Why is Sugar So Popular?   We start off by trying to understand why sugar is so popular in the first place. Dr Chopra tells us how traditionally sugar was thought to be good from an evolutionary perspective because of its taste. However, with the many advancements in the field of medical science, functional MRI scans of the brain have shown that when sugar is given to a person the blood supply to the reward centers of the brain increases. These are the same areas that are highlighted when pleasure drugs like cocaine, heroin and cigarettes are consumed. Moreover, our tolerance level toward sugar increases over time. These, and multiple other factors, have led to sugar becoming such a popular part of our diet.   2. What Does Sugar Actually Do Once Ingested?   We move on to talk about how excessive sugar intake can be harmful. Dr Chopra explains how every time we consume sugar the body releases a hormone called insulin. Insulin makes tissues absorb sugar in order to bring down the blood sugar level to normal. Repetitive consumption of sugar and release of insulin exhausts the pancreas. This in the long run leads to diabetes.   Insulin prohibits the breakdown of fat and protein in our body in order to produce energy, which ultimately causes obesity. Insulin also increases the tendency to hold water and salt in our kidney and liver, leading to high blood pressure.   3. Sugar Lobbies vs the Fight for Legitimacy   After discussing the dangers of sugar, we talk about how alcohol and cigarettes are heavily regulated but sugar, which is equally harmful, has no restrictions. Dr Chopra tells us how strong sugar lobbies from Maharashtra and UP in India and globally from several sugar-producing countries like the US, where sugar helped people overcome the Great Depression, have prevented sugar from being regulated.      4. Lifestyle vs. Genetic Predisposition   Dr Chopra tells us how a person who has a history of diabetes in their family can avoid it by following a healthy lifestyle and keep their sugar under control. He also talks about how someone who does not have any history of diabetes in their family but consumes high amounts of sugar on a daily basis is more prone to diabetes when compared to someone who has a family history of diabetes but keeps their sugar consumption under control and maintains a healthy lifestyle.    5. How Human Evolution has a Geography   In this podcast Dr Chopra also helps us understand how tolerance varies with geography. People in Western countries experienced a gradual infiltration of refined and packaged food over several generations. Hence, they were able to tolerate it better as opposed to people from India, China and other Asian countries, where refined and packaged food was introduced all of a sudden within a span of two or three generations. This left us prone to diseases like diabetes and heart attacks.   (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Transfin. Podcast E37: Plus Minus, Next Five, Mile High

Professor S

LongShorts Jun 22, 2019

  Taponeel Mukherjee (Formerly at Citi & UBS, presently CEO of Development Tracks, an India-focused advisory and investment business) took some time out to chat on India's recent infrastructure journey, his key takeaways from last five years wrt infra policy, capital, and execution, and everyone's favourite - potential lapses, reflections and areas of improvement for the future.     A firm believer of the India story, Taponeel emphasizes the need for patience, the presence of robust feedback loops involving all stakeholders, and shows a clear preference for iterative reforms instead of a heavy handed approach.      In this wide-lens podcast, we touch upon the following points:     What Went Right for India’s Infrastructure?     We start off our latest episode on a positive note by discussing the key factors that went right for India in the field of infrastructure. Mr. Taponeel points out how India has been able to attract major foreign investors over the last five years, the country's growth as a renewable energy giant, and the rise of infrastructure-related investment funds in India.     Problem-Solution, Problem-Solution     The public sector has a role to play in eliciting investments to India, but there comes a point when the private sector will have to take over. And to make the economy attractive for investors, corrective reforms are necessary. While the Insolvency and Bankruptcy Code (IBC) was a step in the right direction, but more (incremental) changes are still needed.     Stress to Power     Moving on, we discuss the state of the power sector in the country and the need to address issues of power pricing, reducing transmission and distribution losses, and the current drawbacks of the renewable energy sector.       Roadblocks to Long-Dated Capital     We discuss why it's important to guarantee liquidity to investors, be they small-scaled or big-pocketed multinationals. We also deliberate on how important retail participation really is.      Aviation, and Why Failure May be Good     In the "glamorous part" of this podcast, we discuss the current airlines scenario in India and the willingness of people to invest in the rapidly growing aviation sector in any way possible.     Mr. Taponeel emphasises on the need for India as a society to get used to business doing exceptionally well as well as not doing well, as both are natural and inevitable components of business dynamics.     (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Social Media To Fintech: Facebook Announces New Cryptocurrency Libra

Sudhanva Shetty

LongShorts Jun 20, 2019

Facebook wants to reinvent money and disrupt global finance. But regulators and its trust deficit may block its ambitions.   The social media giant has finally announced its foray into fintech with a new digital currency named Libra.   Libra has been pitched as a “global currency” that could “reinvent” money and transform the global economy “so people everywhere can live better lives”.   Facebook says its target is to launch Libra in the first half of 2020.     What is Libra?   Libra is a virtual currency that can be bought by users on platforms like Messenger and WhatsApp (owned by Facebook) and stored in a digital wallet called Calibra, which would be a standalone app.   Libra will initially be used for transactions between individuals - for example, to purchase a cup of coffee, shop online or pay for a cab ride. Over time, Facebook aims to establish Libra as the first mainstream global crypto-currency, which can be used by anyone with an entry-level smartphone and an internet connection to buy anything and to avail a variety of traditional financial products from banking services to loans.    Technically Speaking: The transactions on Calibra would reportedly be seamless, charge close to nothing, and be as easy to conduct as sending a text message. The currency is built on the “Libra Blockchain” software, which is open source so that anyone can build on it.   According to Facebook’s white paper on the project, the software will securely store transactions as a single data structure that records the history of transactions over time, instead of as blocks which is the present practice.   Now that we know what Libra is, it is important to understand what it is not – and it is not your typical Bitcoin-like blockchain-based technology. This is for two main reasons:   Unlike most crypto-currencies which are speculative assets, Libra reportedly be backed by a reserve of actual assets (the Libra Reserve) to keep its value stable over time. The said Reserve in turn would be derived from the fiat currency paid by users and investors (i.e. members of the Libra Association) while purchasing new Libra units. Libra would be global in its availability but not entirely decentralised in its structure. Its administration will be overseen by an independent body, the Libra Association, which will comprise 100 members of which Facebook would be one.   Backed by Money: To avoid the wild fluctuations that plague most crypto-currencies today, Libra is to be backed by a reserve of real assets (to be held by a “geographically distributed network of custodians”). This Libra Reserve Facebook argues, would ensure the stability of the digital currency’s value over time.   How Would This Be Ensured?: According to the social media company, the fiat currency generated from users and investors purchasing Libra will be invested as bank deposits or as “short-term government securities in currencies from stable and reputable central banks”.   The reserves themselves would expand over time as more people engage with Libra. The assets would increase in quantity and value from mainly two sources – users and investors, as well as any yield gains coming in organically. (The users will purchase Libra units from Facebook’s platforms like Messenger and WhatsApp. And investors can contribute to the project in exchange for both Libra units and future returns.)   This means that while users can purchase Libra with fiat money, they can also sell their Libra for local money at (as the white paper puts it) “an exchange rate”. This exchange rate, Facebook purports, should not fluctuate much as the reserve will comprise low-risk assets to minimise volatility.   So, money by users and investors will be exchanged for Libra, which would be backed by a fiat currency to ensure the digital currency's stability. And the money that the Libra units were bought with will be kept in a bank and invested in low-risk assets, the interest generated from which would be used to pay the project's investors and generate revenue.    Your Data is Secure?: To allay concerns over data security, Facebook says Calibra (which will conduct Libra-based transactions) will be an independent subsidiary.   And to govern the entire project, the Libra Association, an “independent, not-for-profit membership organisation...comprised of diverse and independent members” will be founded in Geneva, Switzerland.   The Association will include businesses, charities, academic institutions and NGOs and will eventually have 100 members, of which Facebook will be one (the Association already has 27 members, including MasterCard, Visa, PayPal, Uber, Spotify and Vodafone).   Source: The Libra Association   Libra: Challenges & Obstacles   Facebook’s plans to disrupt global finance will undoubtedly sound mellifluous to its many millions of apostles.   But to regulators, policymakers and the millions who see the company as a serial privacy violator and an untrustworthy behemoth hell-bent on eliminating competition and flouting the law, Libra just looks like a new attempt to hegemonise and monopolise.    We Know You Don’t Trust Us: Even as Facebook announced its new project, it rushed to assure the public that measures to ensure the safety of user information and the integrity of data have been put in place.   By making Calibra a standalone app and the Libra Association an independent body, Facebook obviously hopes its distance from the project’s administration will convince the public, merchants and investors that users’ privacy will be taken care of.   This reflects its tacit acknowledgement of the lack of public faith in its intentions after the numerous controversies surrounding it in recent years.   The acknowledgement is well founded. Cambridge Analytica, Russian bots in the US and European elections, hate speech in Myanmar, accusations of political bias, accusations of curbing free speech, a series of massive data breaches, sharing users’ personal information with third-party apps without the users’ consent – all these controversies (among several more) are still fresh in collective memory. And people are in no hurry to forget.   Regulators Are Gearing Up: Europe has already called for the regulation of Libra. US politicians from both major parties pilloried Facebook with concerns over management of the digital currency, even calling on it to stop its development.   And across the world, where crypto-currencies themselves are viewed suspiciously (if not banned outright), it is unclear how Libra will be able to gain a foothold.    In India, the regulatory framework for digital currencies is hostile to say the least. The RBI has said that it doesn’t want crypto-currencies to spread like “contagion” and considers them harmful. Meanwhile, the draft Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 wants to jail anyone who “mine, generate, hold, sell, transfer, dispose, issue or deal in crypto-currencies”.   After Facebook revealed the project, some reports suggested that the company might skip India entirely in its launch of Libra, given the RBI's restrictions on crypto-currency transactions.   You’re Not Crypto Enough: Crypto enthusiasts have their own problems with Libra. As explained earlier, the currency will not be truly blockchain technology since it will be backed by reserve assets and will comply with regulatory norms mandated by central banks – two things that are in violation of blockchain principles.   Conflicts of Interest: The Libra Association will have 100 members, and many of these will be multinational corporations with deep pockets. And one class of contributors to the Libra Reserve will be investors, who will purchase Libra units for fiat currency.   The members of the Libra Association can also be investors in the Libra Reserve, purchasing Libra units in exchange for fiat currency. They are also responsible for "legitimising" the acceptance of Libra units through their own ecosystem e.g. accepting it as a viable payment currency for their services to the common public. By what criteria can they be considered as independent regulators?   Unless Facebook has a reliable workaround, policymakers and financial regulators might find this loophole grounds for stalling the project, if not disqualifying it altogether.   History Repeats Itself?   While some crypto commentators are optimistic about the project’s potential, some are worried that Libra Blockchain (which would be an open source platform that “any consumer, developer or business” can build on) will lead to a second Cambridge Analytica.   In 2013, a data scientist was able to harvest many Facebook users’ information because of the company’s lax approach to data mining (he accessed the data using the platform’s Open Graph feature, which was launched in 2010). A political consultancy firm, Cambridge Analytica, was able to use this data, mine even more, and chart the users’ political ideologies to target specific political ads at these demographics. Overall, 87 million users were victims of this gross violation of privacy.   Libra’s approach to public innovation is as lax as Open Graph’s, if not more. There are fears that this low barrier to entry will lead to yet another data breach – only this time, instead of passwords and usernames it would be crores of digital currency that will be stolen.   Libra: Daring Disruption or Hare-Brained Hassle?   We must remember that this is not the first time Facebook has dabbled with fintech. Around 2010, the company had launched Facebook Credits, a virtual currency that enabled people to purchase items on its apps.   The project was disbanded in less than two years after it failed to generate traction.   Now, as Facebook expands its plans to become an all-encompassing platform not just vital but indispensable to our lives (a Western WeChat, basically), it will be interesting to see if users (and, crucially, regulators) forgive Menlo Park for its many sins and give it a second chance.   If the public is unconvinced and sceptical, Libra will be another Facebook Credits. However, if the public is indulgent, Libra could be the next big thing.   (We are now on your favourite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.) 

Transfin. Podcast E36: Brand Power, Clean Slate, Human Element

Professor S

LongShorts Jun 12, 2019

    Our podcast with Arjun Guleria (of Beam & Words, a Delhi-based brand communications & brand strategy firm) started with a conversation on Brands, but gradually changed course to reflect on his personal journey as an entrepreneur, the human element which is key for creative solutions, and the blessing that is his accountant!   P.S. He also humoured our usual digressions towards AI/ML, the myriad evolutions of consumer tech, for better, and for worse!   When Arjun started with his co-Partners, Beam & Words wanted to look at "Communications as a Whole", avoid siloes, and not become a hostage of platforms. 7 years later, seems not much has changed.    The TOC:   Why Brands First, Platforms Later?   We start by talking about brands and communication, the two main areas of focus of Beam & Words. Arjun tells us in detail about his “brands first, platforms later” ideology, through which the company places emphasis on identifying the story of a brand and not on the platform of promotion, which are often only momentary.   Starting Business with a Clean Slate   We move on to talk about Arjun’s relatable phase of imposter syndrome and feeling like the odd-one-out in the beginning, given the PR and advertising background of his co-founders, and his own in finance. It seems to have worked out to their advantage though, allowing them to start their business with a clean slate, bringing together different ideas and perspectives. This proved to be so important in the ever-evolving world of business and communication, that the company has now taken to hiring people from a variety of backgrounds!   Can AI get Creative?   Touching upon a topic from our previous podcast, in our last section we talk about offline versus online marketing, and similar to our previous guest, Arjun also talks about the benefits and the emotive aspect of the offline.   This discussion organically leads us to the topic of Artificial Intelligence (AI) and Virtual or Augmented Reality and their role in the marketing industry. We question whether the ever-more lifelike bots could ever replace humans when it comes to data interpretation and communication with clients, with Arjun arguing that despite being advantageous as efficiency tools, there’s still a long way to go before they can begin to offer creative advice.   (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Transfin. Podcast E35: Secrecy First, Immersive Power, Offline Works

Professor S

LongShorts Jun 04, 2019

    We sip Coffee with Shreya Soni, CEO & Founder of Delhi Secret Supper Club (DSSC) - India’s first-of-its-kind platform with a vision to enable "like-minded people to get together without an agenda". More than 6 years since inception, DSSC is now a leading curator of immersive experiences for the country’s most exclusive member base.   A former London-based Consultant, Shreya walks us through her journey as an Incognito (yes!) CEO and shares how Secrecy, even for herself, created the very hook and moat differentiating DSSC. Her thoughts on the value of curated discovery, the changing ebbs and flows of online/offline marketing, and her admirable forbearance for food and water allergies makes for a mighty interesting chat! The Agenda:    Deploying Secrecy in Business Our usual discussions on business acquire a different dimension in this episode, with Shreya bringing to the table a new approach – that of business executed in secrecy. We talk in detail about how she maintained the mystery surrounding the club with her innovative use of email (and even voice diffusers!), and its challenges and benefits. From Experiences to Experiential Marketing We move on to talk about how the company organically expanded from just curating experiences to experiential marketing and creative services. Shreya tells us all about what kind of work the company does for different clients, while going into detail about its marketing model and its approach for the online versus the offline. The Return of Offline (and Authentic Regional Cuisine) After the sudden explosion of the online world and social media a few years ago, people are now moving back to the offline world of privacy, and are more conscious than ever before about what they consume online.The topic of online and offline marketing naturally leads us to this discussion, with Shreya telling us how the offline world offers a kind of intimate approach to marketing that one can never find over the internet, making her prefer the former over the latter. Lastly, we touch upon the growing popularity of authentic regional cuisine and the idea of returning to our roots by embracing what we’re known for. Oh, and also how parental pressure and food are the factors that drive her business! :)   (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Transfin. Podcast E34: Legal Eagle, Value Chain, Business Ease

Professor S

LongShorts May 28, 2019

    We chat with Kushan Chakraborty, as he gives us a crash course on India's dynamic but over-burdened Judicial System, and Legal Services at-large. Kushan is a Corporate Lawyer from Cornellia Chambers (a Gurgaon-based Law Firm), a product of Christ College Bangalore, a Podcast enthusiast, and most importantly a passionate proponent of the law's power to transform society. Today he gets candid on:     His Journey as a Lawyer i.e. The Why?      Brought up in a family where engineering and medicine were considered the best career choices, Kushan’s journey towards becoming a lawyer has not been a straightforward one. We talk about his motivations and inspirations, the factors that persuaded him to take up law in the first place. We go on to discuss his move to Cornellia Chambers as a Co-Founder, and his experiences there.   The Question of Judicial Access   We move on to talk about the pertinent questions of affordability of senior counsels, pendency of cases, and judicial overreach – leading to an interesting discussion about how these play into the loss of efficiency of the judicial process, and how these issues can be addressed.    The Legal Ease of Doing Business in India   Being one of our main fields of interest, the conversation eventually moves on to Business – but this time, we shed light on the legal aspect of it. We have an in-depth discussion about how legal policies impact businesses and companies, touching upon topics like the Insolvency and Bankruptcy Code (IBC) and the National Company Law Tribunal (NCLT).   (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Transfin. Podcast E33: Hot Money, Self Fulfilling, Niche Credit

Professor S

LongShorts May 21, 2019

    The cliffhanger unveils!!!! Too dramatic? So what's the long and short of it?   For starters, our Podcast party just got bigger. All thanks to our very first guest for this Season. It was a real pleasure to chat with Mr. Anuj Dayal, a perpetual finance buff, former structured credit (Deutsche Bank, Och-Ziff - London) slash private equity professional (HPS - London), and all in all a great person to banter finance with.     The Agenda:    How Hot Private Capital Can Skew Business Models (hint: Uber's IPO)   As per a recent story by The Economist, tech unicorns in the US are increasingly following the strategy of Bliztscaling. While Amazon, which is considered the pioneer of Bliztscaling spent close to $3bn between 1995 and 2002, ride-hailing giant Uber spent about $4bn only in one year, last year - in a cash burn discounts, cash back strategy.    Uber recently IPO-ed with a valuation of $90m, well below the $100bn that it had forecasted to some of its investors last month. To add to this, as per Uber's S1 Filings, the platform remains unsure of turning profitable in the near future.   Profitability, which was once the underlying core of business seems to have been largely ignored in the chase of scaling up.    We discuss if Uber is setting a dangerous template? How does this flow into the Indian startup ecosystem which doesn't really have any profitable unicorns.    Finance and its Love-Hate Relationship with "I Told You So!"   With lower barriers to entry facilitated by easy access to technology and VC funding, the cost of starting a business has seemingly gone down.    "Not-so-right" decisions or lack of funds is a part of the journey of a successful entrepreneur. What else is a part of that occasional bumpy path to profit...? Having to endure hearing "I told you so".   The Oft Misunderstood Dynamics of Lending Money   Lending is inherently easy, or is understood to be so. We elaborate on the often misunderstood dynamics of lending money.   Bonus: Anuj definitely made these proceedings livelier and more unpredictable than usual, setting a nice bar for the future :)   (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Transfin. Podcast E32: Cash Burn, Mixed Signals, Robo Cab

Professor S

LongShorts Apr 29, 2019

    Tracking the wide range of news & analysis out there, cross-sector and often cross-geography, is a fun albeit intense way to make a living. It's no wonder one gets even more excited going voice-borne, courtesy our Weekly Podcast i.e. LongShorts. Through a few data points, lots of insights, and even more banter...we typically aim to cover narratives and nuances which we "feel" are important. We started slow, but with 32 episodes and two seasons behind us, LongShorts has so far been a delight. Many more to come.     Today’s episode or ‘season finale’ touches on…   Paytm Mall’s size-able $150-$200 million cash burn over Diwali season, our views on cash-backs and discounts as a viable growth strategy   Across the two seasons, we have time and again touched on the Indian startup ecosystem and discussed at length how Indian startups have shown staggering growth in a very short time. An underlying theme amongst most of them has been differentiating on the basis of cashback/discounting. Paytm has been no different. According to a recent report, Paytm Mall burned c. $200bn during the Diwali Sale Season last year in discounts and cashbacks. We debate if and how discounting can be used as a successful business model strategy.        Rich domestic market valuations and thoughts on the presence or absence of corresponding underlying credit growth     Sensex and NIFTY recently clocked their record highs. Credit growth, however, seems to have slowed down. We throw some light on how retail-level consumption has gone sluggish, while investment in industry and services still look robust and what this might mean.      Tesla and Robo-taxis. Enough said!     A day ahead of its quarterly earnings report, Elon Musk announced that Tesla expects to deploy 1 million completely self-driving “robotaxis” on the road next year. He added that a person who owns a Tesla can monetise the car by putting it out as a robo-taxi service. We deliberate how feasible this robo-taxi narrative is.        Bonus: Electric Vehicles are not a Panacea for Climate Change (CES)       (We are now on your favourite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Transfin. Podcast E31: Jet Set, Too Rich, Hot Ticket

Professor S

LongShorts Apr 22, 2019

    Saudi Aramco may buy part of Reliance. Reliance may buy Hamleys. Xbox no longer has discs :( All this and...   The Moral Questions Thrown by Jet Airways   After chugging on for over months with a heavy debt burden of INR8,500cr, Jet finally announced temporary shutdown this week, leaving around 22,000 employees stranded. While the rise and fall of India’s first private airline makes for a rather fascinating tale, it remains to be seen if the promoters are able to salvage the airlines or will it go down in time along with the likes of Kingfisher Airlines.      Cred's Credible Valuation?    Cred is making a lot of noise in the start-up sector off late. The financial technology platform is in talks with China’s Hillhouse Capital and some of its existing investors including Sequoia Capital to raise $100m. The deal, if it goes through, will likely value the six-month-old platform at $400m, a substantial raise from $75m when it first raised capital last year. We discuss how credible Cred's latest valuation is.   Does Hotstar's Success Validate the Power of Freemium?   Accounting for over 40% of all long-form digital content consumed in India presently, Disney-owned Hotstar has crossed 300 million monthly active users (MAUs) within four years since its inception - a 4x growth since 2017-end when the platform had about 75 million MAUs. We ask if Hotstar's phenomenal growth validates the power of freemium.   (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)

Transfin. Podcast E30: Core, Offline, Portside

Professor S

LongShorts Apr 16, 2019

    Today we get cynical. Bigly. The headers:     What Makes Ola Unique?   Ola's expansion plans came back into the spotlight recently with the ride-hailing platform potentially entering Dubai, after marking its presence in Australia, New Zealand and the UK. We discuss how Ola is rather unique within the Indian startup in the sense that international expansion seems to play a fairly central role in its growth.   The Road from Online to Offline Retail   Both Paytm and Reliance are trying to strengthen their presence from Online to Offline in the retail space, so much so that Paytm expects to do a INR10,000cr business in the next 12 months. A classic example of how a fast-moving economy like India is taking big leaps in the market much akin to how Amazon after monopolising online in the US, acquired Whole Foods, marking a foray offline. E-commerce players in India are already thinking of linkages with the offline world despite being a very nascent sector. We shed some light on where e-commerce in India is likely to be heading.    The Ubiquity of Reliance Industries   Reliance Group is working on a blueprint for setting up a megacity near Mumbai which is expected to attract investments of up to $75bn in the next decade. We talk about how Reliance - India's largest unicorn can do anything. Pun intended.    Reference: Read More on Differential Voting Rights in India by clicking here.     (We are now on your favorite messaging app – WhatsApp. We strongly recommend you SUBSCRIBE to start receiving your Fresh, Homegrown and Handpicked News Feed.)