NEW DELHI, MUMBAI, BENGALURU, KOLKATA, CHENNAI, AHMEDABAD, HYDERABAD, CHANDIGARH*, PUNE*, LUCKNOW* VOL. 19 NO. 10 Rs. 10.

Rs. 10.00 . Price with Hindustan Times Rs. 15.50 16 PAGES

PUTTING PEN
TO PAPER
SATURDAY, JANUARY 11 2025 A surge of interest in paper
planners in the early 2020s
led to a clutch of businesses
centred on making journals.
Lounge looks at why many
firmly stick by physical dia-
ries in the digital age, and the
variety of journals available
SEE PAGE 10

TENNIS
GOVT PLANS NEW CLUSTERS TO FIRE UP MANUFACTURING | PAGE 16

IN 2025
THE SPORT IS GRAPPLING WITH DOPING SCANDALS AND
A POWER VACUUM AS A NEW GENERATION OF STARS,
LED BY JANNIK SINNER, CARLOS ALCARAZ, AND ARYNA
SABALENKA, ARE POISED TO TAKE CENTRE STAGE

STREAM OF STORIES
‘Squid Game’, the season of betting contestants
THINK
Manu S. Pillai on death and the long arc of history
BUSINESS LOUNGE
Meet serial entrepreneur Deep Bajaj
02 SATURDAY, 11 JANUARY 2025
NEW DELHI FIRST

NEW ON SCREENS
PLAN THE WEEK
A NOTE FROM
THE EDITOR
AHEAD
A series about life in the Tihar jail, the master of the
SHALINI UMACHANDRAN Japanese family drama returns, and other titles to watch

ASURA

Be curious,
Four sisters in 1970s
Japan discover their
father is having an
affair. This new series

feel better
is directed by
Hirokazu Koreeda
(Shoplifters, Monster),
PHILOSOPHICAL MUSINGS
one of the most cele-

A
brated filmmakers
PRE Art House, Mumbai,
working today. Starring
ISTOCKPHOTO is presenting Ephemeri-
Rie Miyazawa, Machiko
des, featuring works by
Ono, Yu Aoi and Suzu
artists such as Krishnaraj Cho-
Hirose. (Netflix)
nat, Shanthi Swaroopini and
Abeer Rafeeq. Curated by
Prerna S.M. Jain, the exhibition
explores the transient nature of
existence, and the artists depict
this through themes of change,
decay and transformation. Some
have looked at the transience of
material itself. For instance,
Shanthamani, Doyel Joshi and
Neil Ghose Balser make use of
coal and pigmented ice blocks to
explore alteration of form with
the passage of time. Rafeeq
dwells upon life’s temporality by
constructing symbolic circles
for mourning and renewal.
ATLANTICS At APRE Art House, Mumbai,
Before 2019, a handful of cinephiles 11am-8pm, till 12 January; and
It’s that time of the year when resolve is weakening, rash new might have known Mati Diop as the star 11am-7pm till 7 February.
year decisions are being regretted, those three litres of water of Claire Denis’ 2008 film, 35 Shots of
aren’t being drunk, and chocolate and chips are creeping back Rum. Then, that year, Diop became the
into the diet. We’re not the kind to judge at Lounge, and so this first black female director to premiere
is an issue that considers helping you live with the resolutions in competition at the Cannes Film Fes-
you’ve made, are struggling with, or have broken. For some tival. Her debut feature, Atlantics, went
reason, we tend to punish ourselves at the start of every year, on to win the Grand Prix. (MUBI)
setting goals that are mostly about looking better or doing
more, rather than trying to make ourselves feel better. About a
decade ago, a colleague and I started a tradition of listing the
places we’d been and the new things we’d done the year before
on the first day of every year to counter the gloom of showing
up for the 9am meeting when all our friends were asleep (yes,
news reporters work on New Year’s Day and all other holi-
days). We’ve both moved cities and jobs so many times that
we’ve lost touch but I still make that list and it remains an
annual reminder to stay curious and say yes to new opportuni- PLAY OF NATURAL DYES
ties and experiences. In that spirit, we have a piece explaining

A
why resolutions often make one feel worse, and recommend BLACK WARRANT jit Kumar Das has had a
reading Oliver Burkeman for a kinder, more practical Vikramaditya Motwane and Satyanshu Singh’s series is about a new jailer in fascinating journey. He
approach to “new year, new me”. Personal stylists explain why Tihar in the 1980s. Starring Zahan Kapoor, Rahul Bhat, Anurag Thakur and was born in Tripura to a
algorithm fashion and trends aren’t real or even aspirational, Paramvir Cheema, based on the non-fiction book Black Warrant: Confessions of traditional washer family and
while explaining how they make their own style statements. If a Tihar Jailer by Sunetra Choudhury and Sunil Gupta. (Netflix) used to work for the erstwhile
Dry January is your resolution, we tell you all about the zero- royal family. He came to Bengal
proof cocktails that could keep you on track. And we also have and joined a block printing unit
a selection of planners that make goal-setting and scheduling DEN OF THIEVES 2: PANTERA and later worked with the
fun, rather than onerous. This film picks up where Den of Thieves Weaver’s Service Centre. With
Our big story this week is the upcoming Australian Open, (2018) left off, with Los Angeles County over 50 years of practice, Kumar
against the backdrop of doping scandals, disgruntled and Sheriff’s Department detective Nick Das is now known as the coun-
tired players, over-scheduling, and a power vacuum, which O’Brien (Gerard Butler) on the trail of try’s foremost natural dye art-
players such as Jannik Sinner, Carlos Alcaraz, Aryna Sabal- Donnie Wilson (O’Shea Jackson Jr.), ists. He is showcasing this oeu-
enka and Naomi Osaka are jostling to fill. Meanwhile, Novak who’s revealed as the mastermind of vre in The Bird that Sings Within
Djokovic, who is the last of the Big Three still on the circuit, the earlier robbery, and is now plan- at Emami Art, Kolkata. The
has roped in one-time rival Andy Murray to coach him for his ning a heist in Europe. This action show features his recent hand-
much-desired record 25th Grand Slam singles title. And as thriller is written and directed by painted and natural dye fabric
always, we have great suggestions to make your weekend and Christian Gudegast, and is inspired by works, showcasing his love for
the week ahead sparkle, whether you’re looking for some- the 2003 Antwerp diamond heist. With nature.
thing to watch, read, do, visit, eat, buy or wear. the always enjoyable Butler headlining, At the 1st Floor Gallery, Kolk-
Write to the editor at shalini.umachandran@htlive.com it should be a raucous good time. (In ata, till 28 February, 11am-7pm
@shalinimb theatres) (closed on Sunday).

Compiled by Uday Bhatia —Compiled by Avantika Bhuyan

LOUNGE MOVE BUY LIVE PLAY

ONLINE
The best core work A camera phone Tech to make every A board game about
YOUR you’ve never done that’s hard to beat day of the year smart wild, edible greens
FAVOURITE

T O T C
WEEKEND READ raining the abs begins with basic ver the past couple of years, Vivo his year’s edition of Consumer ounters and coins to build cities
floor exercises like crunches and has been making strides not just Electronics Show, CES 2025, or treasures have been replaced
NOW THROUGH mountain climbers, but has to in product innovation but also which concluded yesterday, has with piquant wood sorrel, sour
evolve into more, which means includ- in market share, especially in India, gal- offered a look at how technology contin- butterfly pea flowers and bitter balloon
THE WEEK ing cardio and core exercises with loping past Samsung and Xiaomi. For a ues to shape everyday life. Artificial vine for chutneys, salads, and delicious
weights. Add some hanging leg raises while now, Vivo has impressed with its Intelligence is, of course, a large part of rasams. A new board game, Map the
and ab rollouts, and you have a method design language, especially with its flag- all offerings, but beyond AI, the most Wild, designed by nature enthusiasts
The best stories from to help you build a strong ship smartphones. The interesting consumer tech Shruti Tharayil and Rahul
midriff. Now, there’s a new Vivo X200 Pro candidates were focused Hasija, aims to familiarise
livemint.com/mint-lounge new exercise that’s taken doesn’t stray too far from on making technology players with Indian edible
from the week gone by the ’gram by storm—the the familiar design lan- easier to access for every- and medicinal plants
ab squat. But what is it, guage but ditches the one. LG, for instance, through the board game.
and is it really—as practi- curves for a distinctly box- showcased “StanByMe”, a The two-player game
tioners claim—“the best ever”? Pulasta ier design. It has a 50MP Sony sensor television that runs on battery and is requires each participant to design a
Dhar explains the idea behind this viral with a 1/1.28-inch sensor that takes designed to entertain travellers. With challenge for their opponent, where
workout and how to do it right. In con- incredibly clear, detailed photos even in computing chips continuing to become they walk the wilderness and find plant
trast to exercises like the hanging leg low light conditions. The Vivo X200 Pro smaller and more powerful, handheld antidotes for the problems they encoun-
that make the body work against gravity may emerge as the camera phone to beat gaming devices were another draw at the ter. Sharmila Vaidyanathan speaks to
by pulling the lower body up, the ab in 2025, writes Abhishek Baxi, while fair as were an array of robots for all pur- the game creators who aim to encourage
squat makes gravity take the force down explaining what else the flagship has poses, writes Shouvik Das, while pick- players to think about plant problems in
lounge@livemint.com on the lower body. going for it. ing the best innovations of CES 2025. a climate-altered world.
@mint_lounge
@livemintlounge

ON THE COVER: PHOTOGRAPHS FROM AP AND PTI

 FIRST SATURDAY, 11 JANUARY 2025
NEW DELHI 03

Quit on new year goals? It’s okay ISTOCKPHOTO

mental reckoning with the ridiculous tivity to make us demigods of efficiency.

RE READINGS shortness of human life. And yet, “the paradox of time manage-
If you were to live till 80, Burkeman ment is that by trying to do more, we end
A monthly column on backlisted says, you will have roughly 4,000 weeks up doing less,” Burkeman writes, “because
books that have much to offer in on earth. In the cosmic scale, that’s less we fail to focus on the one thing that actu-
contemporary times than the blink of an eye, over even before ally matters.”
it’s barely registered. So it seems some- This elusive “one thing” doesn’t exist in
Why not make what absurd to wrestle with such a terrify-
ingly short span of time, constantly trying
one fixed form. For each of us, what truly
matters is unique to who we are and the
imperfectionism your to harness it with apps and tools, and
always falling woefully short, in spite of
choices we make. Some of us want to be
the best parent we can be; others want to
buzzword for 2025 our best efforts. shine as professionals. The bog standard
The trouble is, as Burkeman explains, productivity bandwagon fails to recognise
instead of falling into that this situation may not these subtle calibrations in the things we
even be clear to our lim- desire from our short
the impossible trap of ited scale of perception. lives, instead, driving us
fresh-startism? “The problem isn’t that
we are not managing
towards quantity over
quality, propelled by the
time well enough,” he fear of missing out. And
writes, “The problem is so, constant busyness
Somak Ghoshal that we’re trying to do turns into a tool to validate
too much with the time our self-worth, a measure

I
somak.ghoshal@partner.livemint.com
we have.” of the value of the time we
f you have made it this far in the While some of his spend on earth.
new year without slipping up on advice on overcoming At the heart of Burke-
your resolutions, then well this tendency to do too man’s book is a critique of
done! According to any number much may be familiar this tendency to evaluate
of studies, you are an elite mem- (such as replacing everything we do today in
ber of a rapidly declining club of people to-do lists with ‘I-did’ terms of the benefits it is
who are still going strong with ones), Burkeman is going to reap in the future.
their quest for self-improve- particularly sharp as The ludicrousness of this
ment in 2025. In contrast, well as poignant when approach becomes evident
the rest of us are regret- exploring the mindset that keep us the moment we accept the sheer unknow-
ting our newly trapped in self-defeating habits. ability of the future and, by extension, the
acquired expensive The 21st-century malady of “busyness” uncertainty that is forever inherent in the
gym memberships is a case in point. “Busyness is a form of very act of planning.
and reaching out for laziness,” Burkeman writes, “lazy think- From the burgeoning industry of self-
a glass of wine more ing and indiscriminate action.” If there is help books to motivational speakers to
times a week than Oliver Burkeman (left) reminds us to reorient our relationship with time. more than a hint of censoriousness in his parenting manuals, the tentacles of capi-
we solemnly prom- tone, it’s because he is always Exhibit A in talist growth keep us wrapped in rewards,
ised ourselves just a The term is ironic the “old you” even though the morale of his book—an Everyman who is as suscep- goals and targets.
few weeks back. as well as filled with entering a new year may be high for tible to the follies of time management as If you bring up your child by following
Depending on the bathos, a reference to some. There will be days when all three any of his fellow humans. Throughout certain principles today, you are told,
research you read, the impossibility of getting rings of your Apple watch won’t close in Four Thousand Weeks, indeed in all his you are setting up the foundation for a
between 1 in 10 to nearly half rid of the detritus of the past, spite of your strict regimen. Which books (his latest being Meditations for balanced, successful adult. Burkeman
of the world’s population gives up no matter how desperate we are to doesn’t mean it’s all doom and gloom Mortals), Burkeman speaks with the counters this line of thinking by alerting
on grand plans to reinvent themselves by make a clean break. Squeaky clean goals from here till eternity—or that there is no friendly voice of an elder cousin who has us to the cost of losing touch from the
the second week of January each year. are as absurd as swearing to never let the merit in trying to improve our lot in life. been through the rough and tumble of tangible present, the moment we are liv-
Yet, the temptation to become the “best thought of your ex ever cross your mind as In his acclaimed book Four Thousand life, and has more gentle advice to offer ing in, by excessively focusing on the
version of yourself”, as new-age motiva- you move into a new relationship. Or to Setting squeaky clean goals Weeks (2022), Burkeman offers a sobering than confident answers to give. benefits of a future that may or may not
tional gurus urge us, is hard to resist. It’s wake up one fine day and give up caffeine, antidote to the debilitating streak of per- The rebuke on busyness, for instance, come to pass.
human nature to live in thrall to the myth only to beat yourself up into a ball of mis- every year is as absurd fectionism and hyper-productivity that gets to the heart of the problem with Not everything in life needs to be a
of “fresh-startism”, as Oliver Burkeman, ery for going cold turkey. as swearing to never let the keeps 21st-century humans spinning on a human perception of time. Unaware of the ROI. Productivity is overrated. Embrace
a journalist-turned-writer of popular Instead of the false assurance of “a new thought of your ex cross hamster wheel. As the title suggests, the big picture (the shockingly paltry 4,000 the imperfection. “The fact that life is
philosophical books, put it last year in a year, new you”, Burkeman urges us to aim of his book is to help the reader accept weeks, or less, that are allotted to us), we short is not a tragedy,” as Burkeman puts
dispatch of his email newsletter, The face the facts, with calmness and self-
your mind as you move into and reorient their relationship with time, try to pack in as much as possible into our it, “it’s the reason we have to make it
Imperfectionist. compassion. Let’s face it, it is hard to shed a new relationship an exercise that must begin with a funda- lives, relying on zillion systems of produc- meaningful.”

Medium Talk More than small talk

Smart care for your pets

WIZARD OF PAWS

Monitoring a pet’s health

is easy with wearable
tech, customised meal
plans and AI-powered
diagnostic tools
Nameeta Nadkarni

T
he world of pet care has seen
remarkable advancements in the
last year, offering pet parents excit-
ing new ways to enhance the lives of their
companions. With innovative technolo-
gies, wellness-focused solutions and sus-
tainable practices, caring for pets has
never been more effective or rewarding.
Wearable technology for pets is now
very advanced, giving you tools to moni-
tor your pet’s health and activity levels.
Devices like smart collars can track your
pet’s daily activity, heart rate and even
stress levels. These wearables can alert
you to potential health issues before they
become serious. Many of these devices Some modern dog parks now have agility courses. ISTOCKPHOTO
come with user-friendly apps that allow
you to access detailed insights and share cally stimulated has never been easier improved pet-friendly accommodations
data with your veterinarian. Pet cameras with the latest advancements in training and travel gear. Many hotels now offer
are also getting better, allowing you to and enrichment. Smart toys powered by amenities like pet beds, gourmet menus,
keep an eye on and even speak to your pet AI can adapt to your pet’s play style, keep- and even spa treatments for your furry
while you are away from home. ing them engaged even when you’re busy. companions. Airlines and transportation
When it comes to feeding your pet, per- For training, smart treat dispensers paired providers are enhancing their policies to
sonalised nutrition is now within reach. with apps can make teaching new skills a make travel more comfortable for pets.
Instead of settling for generic kibble, you fun experience. These tools allow you to Urban pet parents will appreciate the
can opt for tailored diets that cater to your reward your pet for good behaviour, rein- growing number of pet-friendly spaces
pet’s specific needs. Subscription services forcing positive habits. and services in cities. Some modern dog
deliver fresh, custom-made meals straight If your pet struggles with anxiety or parks now feature agility courses, provid-
to your doorstep, ensuring your pet gets stress, effective solutions are now widely ing safe and fun environments for your
the best nutrition without the hassle. If available. Products like pheromone dif- dog to exercise. Pet cafés are becoming
you’re an eco-conscious pet parent, you’ll fusers and calming vests are designed to popular. And if you’re juggling a busy
also find plant-based and insect-based pet provide relief for anxious pets, while schedule, on-demand dog walking and
foods that offer sustainable options with- CBD-based oils, chews, and treats offer pet-sitting apps make it easy to find
out compromising on quality or taste. natural remedies for issues like separa- trusted caregivers, giving you peace of
Veterinary care has also become more tion anxiety or joint pain. Holistic thera- mind when you can’t be there yourself.
accessible and convenient thanks to tele- pies such as acupuncture and massage Adopting a pet has also become more
medicine and AI-powered diagnostic are also popular. accessible and personalised, thanks to
tools. Virtual vet consultations allow you For eco-conscious pet parents, the technology. Shelters are also using social
to connect with specialists from the com- focus on sustainability in pet care is a wel- media and live-streaming to showcase
fort of your home, saving time and reduc- come change. You can now choose from a adoptable pets.
ing stress for your pet. This also makes it range of eco-friendly products, including The coming years are shaping up to be
easier for pets in tier 2 and tier 3 cities to biodegradable poop bags, compostable a transformative period for pet parents,
get access to quality care. AI-driven apps cat litter, and toys made from recycled bringing a wealth of innovations to
can analyse photos of your pet to help materials, with some start-ups even ven- enhance your furry companions’ lives.
identify health problems, giving you turing into sustainable pet furniture. Nameeta Nadkarni is a veterinary soft
insights you can share with your vet. Travelling with your pet has become tissue surgeon and pet blogger from
Keeping your pet mentally and physi- much more convenient, thanks to Mumbai.
04 SATURDAY, 11 JANUARY 2025
NEW DELHI HOW TO LOUNGE

Source A compendium of contemporary

Indian occasion wear More ‘Squid’,
STREAM OF
STO R I E S
RAJA SEN

less ‘Game’
SOUTH STYLE
Erode White Vesti
White vesti features
sharp pleats and a
purple embroidered
border. Available on
Erode.clothing.com;
₹4,900.

SILVER LINING
‘Twilight Spark’
YELLOW POP Sequins Embroidered Bag
‘Lorraine’ Floral Structured bag from label
Asymmetric Top Aanchal Sayal featuring an
Asymmetric top in ivory all-over cutdana and sequin
and yellow made from embroidery drape in silver
Chanderi fabric with all- and black. Available on
over floral print by label Aanchalsayal.in; ₹18,000.
Vineet Rahul. Available
on Elanstore.in;
₹15,600.

A HAPPY TWIST
Isharya Rainbow Spiral
Cuff Bracelet
Brass cuff bracelet plated in
18-carat gold adorned with A still from ‘Squid Game’.
multi-coloured cubic
zirconia stones. Available

H
on Isharya.com; ₹4,999. ow do you get blood out of white keds?
The question that came frequently to my mind while watching the
new season of Squid Game on Netflix, where players routinely walk on
the remains of vanquished players, rubber soles squelching against blood and
hardwood. How do their white shoes stay spotless? Or are the players simply
given a fresh batch of canvas sneakers before each game? This is not implausi-
VELVET WEAVE ble, given how the satire—where debt-ridden contestants put lives on the line
in the vain hope of earning millions—seems to be budgeted, but I didn’t think
Ochre Yellow Pre-stitched Sari
about cleaning canvas at all in season 1. I didn’t have the time.
Label Torani’s ochre yellow pre-
In 2021, Squid Game conquered our screens and our imaginations. For
stitched sari in silk velvet base with
many audiences, this was the first time they had watched a Korean series—but
digital print. Available on Perniaspo-
that didn’t matter. The universality of the show’s appeal could not be over-
pupshop.com; ₹99,500.
stated. We were collectively hooked to creator Hwang Dong-hyuk’s absurdly
compelling vision of poor people betting their lives on playing children’s
BE FRINGED games. We couldn’t stop watching (and recommending) the gore, in many
Crop Jacket with Knotted Skirt ways mirroring the evil rich capitalists within the series—sitting back and
Make an entrance in this AKOK by watching the bloodshed staged for their entertainment.
Anamika Khanna crop top and knot- A new Squid Game was always going to be a tall order. How do you tell that
ted skirt with fringe and sequins story all over again? One way is to make it about a new set of characters going
detail. Available on Akok.in; ₹68,000. through the original structure—like, say, in The White Lotus, where new cli-
ents come to new resorts each season—and have different players doing the
games this time, which is a reliable mechanism but lacks novelty. Alterna-
tively, you follow the player who outlasted the games the first time and see his
life after that, which is potentially more interesting but lacks the games itself.
The Squid Game creator chose to do a bit of both: therefore, we have the win-
ner of the first season Seong Gi-Hun (Lee Jung-jae) back in a dark green track-
suit all over again.
Now a billionaire, Gi-Hun is tormented by the bloodiness of his money and
feels the need to bring down the entire system that preys on innocents. He
wants to bring down the system but despite years of searching, can’t find his
way back to the games—except as a player. He is, therefore, back in the breach
SHOCK VALUE COVER ART but optimistic, feeling that since he knows what is to come, he can help others
‘Morni’ Unisex Leather Jacket from losing their lives. He guides many through the now iconic Red Light
Electric Blue Kolhapuris Green Light game, for instance, and then keeps insisting that the games be
Sleek black “Morni” leather Jacket
Handcrafted leather Kolhapuris stopped.
in tailored fit featuring intricately
in electric blue adorned with gold nstance of voting where the contestants voted
The first season had one instance
done peacock motif. Available on
dots by label Sole Sisters. Availa- whether or not to stop the en ntire tourna-
Dripbyrage.store; ₹26,300.
ble on Kaarimarket.com; ₹3,500. ment and share the prize pott, but
season 2—which is actually telling
t
Compiled by Mahalakshmi Prabhakaran only half a story, with the resst to
come in another season this STREAMING TIP
year—is literally all about thee OF THE WEEK
voting, with contestants Fans of Squid Game would do
who want the game to stop well to check out one of its
formative influences, the 1997

LOUNGE LOVES
marked with an X and those
voting for the games to con- David Fincher drama The Game,
tinue marked with an O. If now streaming on Netflix. Starring
the first season was about Michael Douglas as a man drawn
income inequality and sad- into a mysterious game that
ness, this season is about thee doesn’t let him out, the
Things to watch, read, hear, do—and other curated experiences from the team problem with democracy itsself. film is a must-watch.
Over multiple rounds of votiing—
ROOM SERVICE shown to us in too much detail—the Xs

M
ost hotel rooms have become and Os keep cancelling each h other out.
woefully uniform, but Hotel Lalit Unfortunately, tic-tac-toe isn’t
isn t the best spectator sport
sport. (This may be why I
Ashok in Bengaluru breaks the mould kept wondering about the shoes.)
—as I discovered during a recent stay—with With Gi-Hun as a wildcard—player #456 out of 456 players—trying his best
the thoughtful curation of books made to help the others survive, the game’s mechanics are altered, not to mention
available to guests in their rooms. There was a the gameplay and the voting. The only thing to do then is stack the deck, and
set of children’s books featuring Elphie the along with Gi-Hun comes his opposite number Hwang In-Ho (Lee Byung-
colourful, gender-fluid elephant, and non- hun) who is the sinister masked man who runs the game and—this time—
fiction books like Queeristan and equALLY: decides to also join in as an active participant. Now the deuces are wild. Now
Stories by Friends of the Queer World. There the deck is crazy.
were also colouring books for children and a This is an intriguing twist (and it happens early enough on within seasons 2
lovely scented candle. Guests are encouraged and 3 to count more as premise than spoiler, I assure you) and I do believe the
to carry the books with them when they leave, series still has things to say—about democracy and intent and making a differ-
IF WALLS COULD TALK the hotel says, and I can’t think of a lovelier AN ANALOGUE AI TRAIL ence—but it’s taking too damn long. This season has fewer games and more

I D
sent this photo to a friend, and her way to engage and inform people while they ecember was packed with grumbling, with audiences introduced to many contestants and their
response was, “These people must stay with you. Take a bow! events across cities, and one of wretched lives over and over again. It’s cumbersome storytelling, and this
really love their house”. Most of us —Shrabonti Bagchi the best experiences I had was series that we couldn’t look away from has now become a series best watched
spend a good amount of time imagin- The Makers Trail curated by Lounge at 1.25x speed.
ing our living space, sprucing it up and columnist Manju Sara Rajan in Benga- The children’s games within the show themselves are still macabre and
adding personal touches. But this care THE INSTAGRAM IT GIRL luru, which took people into the stu- unpredictable and exciting, but the candied aesthetic—pop-art/MC Escher/

C
and attention is strangely missing harli XCX’s 360 video is like stepping dios and homes of creators of all kinds, plastic—doesn’t feel so new, and the show makes us either wait interminably
when it comes to a home’s exterior. In into a fever dream, complete with a from furniture designers to photogra- long between games or stretches the games across too long. We are the cap-
cities, most buildings and homes lack cast of characters that feels like a who’s phers. One of the most innovative was tive audience, and instead of being the obscene fatcats watching losers bleed,
character—some are shiny with their who of underground cool for those who are at Tharangini Studio, the city’s oldest we are now the betting contestants, forking over more of our time and atten-
glass exteriors, others shabby with chronically online (like me). They want Charli printmaking workshop. Its printers tion in the hope that the show will hit a narrative lottery and make us all win-
peeling paint and damp patches. This to fulfil the “prophecy of a new hot internet and woodblock carvers had collabo- ners.
beautifully painted house wall in girl” at a large table like a twisted Last Supper rated with ICH Next, a fashion trend Maybe it will. We’re still watching. This new and less exciting Squid Game
shades of green and yellow in a bylane of Instagram models and musicians, including forecasting agency, to explore the demonstrates how democracy has become about doubling down on wrong
in north Kolkata makes you stop and Gabriette, Julia Fox and Chloe Cherry, to impact of generative AI on craft and decisions—and not really having a reason to believe. Voters change and con-
marvel at it, looking like a page out of name a few. They talk about the elusive textile design. They had used AI to sensus is hard. The first episode entitled Bread and Lottery sees homeless peo-
a children’s book. The vibrant bottle- qualities that make the next “it” girl “hot in a create a new visual vocabulary where ple offered loaves and lottery cards and most of them going for the card. It
green balcony grill has golden statu- scary way, known at the same time craft, technology, skill and human cre- doesn’t make sense, but it does; 12 angry men are one thing, but try dealing
ettes of Radha and Krishna—Gen Z unknowable”. It was a futuristic bop with ativity merge; evidence that our hand- with 456 hungry people. We loved a Squid Game and another has been made
would call it Insta-worthy. It’s defi- Charlie’s low monotone, with a narrative wringing over AI is a bit counter-pro- to appease us, even though the creator didn’t really want to make one. This is
nitely a home that piques interest. You instead of the usual dance and outfit change ductive. Their art proved that its best not a real story. It’s squid pro quo.
want to discover what lies beyond, the videos. She starts off with “I’m your favourite to treat AI as a tool that can widen our
story of its people and the wall. reference, baby” a great pop culture own very human capacities. Raja Sen is a screenwriter and critic. He has co-written Chup, a film about
—Nipa Charagi prediction. —Ghazal Chengappa —Shalini Umachandran killing critics, and is now creating an absurd comedy series. He posts @rajasen.
 THINK SATURDAY, 11 JANUARY 2025
NEW DELHI 05

When the makers of history die

face the opposite problem: they are cel- was “chaos in the city”, riots “every- maharani—an established business-
ebrated in life, only for the romance to where”, and shops and homes were woman and banker already—had every
PAST collapse with their passing. In the 19th
century, for instance, there was a prom-
shuttered. “Fine clothes and expensive
jewellery—these, people buried under-
intention to wield power for the rest of
her days. But then an heir she grudg-
PARTICIPLE inent Indian statesman; a real icon to ground,” he added. “Books recording ingly adopted grew up. And with the
the intelligentsia. Yet by the end of the their business transactions they buried appearance of a man again, pressures
MANU S man’s life, the dawn of nationalism led somewhere else”. For 10 days, until mounted and she was ousted. What is
PILLAI to less generous appraisals—he was news arrived of a smooth transfer of ironic in her story is that when her hus-
seen as too moderate towards the Brit- power, the city was tense. Would there band died, she made loud declarations
ish Raj. So, where their fathers idolised be war? A breakdown of order? When about wishing to burn herself on his

I
n February 1798, as the septuagenar- T. Madhava Rao, succeeding genera- Jahangir’s succession was relayed at pyre. But, as one official put it, “Nobody
ian maharajah of Travancore lay tions barely registered his name. last, the people gave “thanks in relief”. believes this as regards Baiza Bai.” She
dying, he had occasion to reflect on Luckily for historical figures, popu- Someone was in charge of things again. had a lot at stake and was not the type to
his four-decade-long kingly career. larity and unpopularity are cyclical. An Lest we believe such fears were follow her husband too promptly into
There was much he had achieved: the eclipse today might not mean a perma- purely a medieval concern, long after the afterlife; not when she at last had an
conquest of fresh territories from an old nent dismissal. The artist Ravi Varma is Akbar, another death was also received opening to enjoy sovereign power.
rival, the defence of this and other pos- a case in point. He was applauded with trepidation. As Jawaharlal Nehru Nevertheless, even the most remark-
sessions from a different enemy, a repu- throughout his career, making money, went to the grave in 1964, there were jit- able people were not immune to the
tation as a dharmic ruler, and more. And winning honours, and playing a role in ters about not just his political party fear of death, and of the weight of sins
yet as death crept up on him, he could even crafting a pan-Indian (Hindu) holding together, but also the republic they accumulated in the exercise of
not help but notice that it was an inaus- imagery for nationalists. When he died, of which he had been a founding father. their power. And some among them
picious day—inauspicious, that is, for brown and white men both issued There were insurgencies, secessionist believed that while they would never
the business of dying, as per Hindu laments, and the event was widely cov- movements, economic troubles, not to know what posterity made of them, they
belief. He sighed, the story goes, and ered in the press. Yet within less than a speak of irritating neighbours and the could manipulate divine judgement. In
remarked to his attendants that it was decade, his legacy was under siege: by question of national prestige. As the India we have had, after all, leaders
“unavoidable considering the sins of painting in a Western style, he was defence minister Yashwantrao Chavan whose religiosity grew in tandem with
war I have committed”. In his pursuit of judged as having succumbed to foreign declared, the whole world was watch- the number of years they spent in office.
power and glory, there had been vio- influences. Through the 20th century, ing, and “we must do everything possi- Why, in his last phase, even the rational-
lence and bloodshed. “I can never for- his work was derided as mere “calendar ble to…achieve unanimity”. An ugly ist Nehru was evidently willing to enter-
get,” rued the old man, “the horrors to art”—until there was a revival in the contest over who deserved to fill tain astrologers. But nothing can beat
which we have been parties.” How, 1990s. Today, Ravi Varma again com- Nehru’s shoes would make Indians look what that aforementioned Travancore
then, could he expect to die on more rit- mands respect. The wave of anti-colo- as though they were incapable of man- maharajah’s heirs devised to leave this
ually desirable terms? “May God,” he nial feeling having receded, it was possi- aging these matters. It could invite world on favourable terms. Every time a
finished, “forgive me all my sins.” ble to look upon his art through a less interference from without and ruler of that state was on his deathbed, a
The death of great personages trig- hostile lens. Things, for this person at embolden dangerous forces within. In Brahmin would be found to embrace
gers a spectrum of responses and least, came a full circle, albeit a century the end Lal Bahadur Shastri was chosen him, thereby assuming his sins. This
events. Leaving aside how they judge after his death. as the man “least likely to divide and volunteer was then escorted to the prin-
themselves, some are viewed favoura- While reputations see-saw in the long most likely to unite”. cipality’s borders and seen off perma-
bly on their demise, even if in life they arc of history, the death of great peo- Crude though it sounds, one man’s nently—with a monetary reward for his
were disappointed. We saw this last ple—especially if they are still in office death is often another man’s opportu- kind cooperation.
month with the passing of former Prime at the time of their exit—can also pro- nity—and sometimes a woman’s too. That way, even if you feared the con-
Minister Manmohan Singh. “History voke dangerous tremors. When the Many are the female figures in Indian sequences of your actions, as death
will be kinder to me,” he declared at the Mughal emperor Akbar—who had history who were able to shine after the approached, you could offload your sins
height of his unpopularity. While good reigned for decades and become a fix- men around them unexpectedly fell off and hedge your bets.
histories are yet to be written of his ture in his people’s imagination—died the proverbial stage. It was Daulat Rao
term, newspaper headlines are certainly in 1605, there was panic. As the mer- Scindia’s death in 1827, for instance, Manu S. Pillai is a historian and
nicer to him now than they had been at chant Banarasidas later wrote of Jaun- that allowed the formidable Baiza Bai to author, most recently, of Gods, Guns and
the peak of his power. Others, however, pur, the “townsfolk were afraid”. There Abu’l-Fazl ibn Mubarak presenting the ‘Akbarnama’ to Akbar. GETTY IMAGES rule Gwalior for six years. The childless Missionaries.

Mughals to Ambanis: A new book on the history

of Indian business explains
what led to the creation

The roots of India Inc

Sundeep Khanna
of wealth in the country
under the Mughals

I
n popular imagination, Reliance
represents the starting point for
big business in India, with Dhir-
ubhai Ambani the man who
showed Indians the way to make
money. Lakshmi Subramanian’s new
book India before the Ambanis seeks to dis-
pel that notion by stretching the timelines
deep into the 16th century and offering a
smorgasbord of people, stories and situa-
tions from the pre-Ambani era.
That Indian business history needs a
new lens which is not coloured by hero
worship is evident. At the same time, no
history is complete without people. Sub- India before the
ramanian, a historian and a professor, Ambanis: A History of
manages to capture both the characters Indian Business,
and the spirit to pen an enlightening but Money and Economy:
entertaining business history of India. By Lakshmi Subramanian,
The author’s lament on the lack of Penguin Random House
handy and accessible books on the subject India, 320 Pages; ₹699.
is not new. In a 1963 essay, Towards a
Reinterpretation of Nineteenth-Century tages as well as robust information and
Indian Economic History, published in the business networks.
The Journal of Economic History, Morris D. The underlying spirit of the book is rais-
Morris writes: “The neglect of India’s eco- ing issues for a serious student of Indian
nomic history, particularly the period business to think about. For instance,
1800-1947, is one of the most distressing there’s an attempt to contrast Parsi enter-
gaps… Not only is ignorance of Indian eco- prises with that of Bania capital. Thus,
nomic behaviour over time disturbing in while Tata group founder J.N. Tata
itself, but the attempts at planning since scouted far and wide for help in setting up
1947 have suffered because of this. It is dif- his business, including that of renowned
ficult to predict outcomes and consequen- metallurgists of the era, Bania traders
ces of any major development policy in tended to stick to the support of close fam-
the absence of any clear clues about the ily members.
long-run dynamics of the Indian economy had both military superiority and financial Mughal emperor Shah Alam ing colonial needs of the British economy, and economic writers have dwelt on the The answers are not always compre-
and Society.” muscle which made them highly credit- hands Robert Clive a decree which now required markets for their wealth of India under the Mughals, few hensive or even convincing. Indeed, if
This new book is an earnest attempt to worthy. In addition, these businessmen conferring upon the East India cheap machine-made goods. In turn, this have explained the factors that led to its there’s one failing of the book, it is its ina-
fill that gap. Its premise is straightfor- circumvented the problem of lack of sym- Company the administration led to the flow of British capital into India creation with such clarity. Ensuring peace bility to close the loop on many of the fas-
ward—if the essence of business is know- metric information by activating close of the revenues of Bengal, which was used to procure commodities and law and order along with good infra- cinating questions it raises. But by raising
ing how to make money, and accumulate family connections. These are themes the Bihar and Orissa. GETTY IMAGES like raw cotton and opium for exports to structure were key ingredients. In what these issues, it lays down the agenda for
and redeploy it for social and commercial author explored in her 2012 book Three other markets, thus drawing the country marks out the book’s keen eye for insight, future work on the subject. That is one of
gain, there was enough evidence of this in Merchants of Bombay as well. into the larger flow of global trade. it explains how the emphasis on revenue its biggest contributions. Future writers,
the India of the 17th century with travel Subramanian’s exhibit 1 here is unusual: There are stories within stories as with collection in cash “fostered monetization, continuing Subramanian’s scholarship of
writers like John Fryer noting the Bania’s Mulla Abdul Gafoor, who built a vast Shantidas Jhaveri, who set himself up as a forcing the producers to go in for cash business history studied as a subject in
ability to do so. As evidence, she profiles empire by trading in spices and textiles, jeweller and bullion trader in the first half crops which had demand among consum- itself, can pick from the many trailing
not just well-known businessmen like isn’t a well-known figure. In his lifetime, of the 17th century. His rags-to-riches tale ing elites and markets in India and over- themes of the book. In this they will find
Jamsetjee Jeejeebhoy and Dwarkanath he assembled an impressive fleet of 17 is fascinating but equally noteworthy is his seas”. Eventually the dismantling of the author’s reference to earlier books by
Tagore but also introduces us to newer midsize vessels in the 1690s which com- business of sarafi (banking), which India’s economic might coincided with authors like S.P. Rungta, Rajat Ray, Amiya
ones who played a crucial facilitating role. pares favourably with current Indian mar- included minting foreign coins and the decline of the Mughal rule and the rise Bagchi and the doyen of contemporary
Tarwadi Arunji Nathji, who, around the ket leader GE Shipping’s 43 vessels. His exchanging old ones. Minting rights indi- of regional dynasts and military adventur- business history, Dwijendra Tripathi, a
end of the 18th century, was one of the success, attributed to his risk-taking abil- cate the influence of the man but also the ers like the East India Company. The dis- good starting point.
richest bankers of Gujarat, is one such. In ity and his commercial acumen, made him decentralised financial system that ena- location this caused allowed bankers to If you are looking for a quick racy read,
exploring his investing strategies and the hugely influential with the Mughal rulers bled it. In that context, there is an entire become kingmakers, which in the long a eulogy to a business tycoon or even a
context in which he operated as well as the in Surat though his sway extended to mar- chapter devoted to the workings of the run led to a decline in efficient trading. takedown of one, this book isn’t for you.
clout he enjoyed with the East India Com- kets in West Asia. typical Indian bazaar or mandi distin- Midway through, the book questions There are dozens of those around desper-
pany, the book offers another dimension. But instead of dwelling on Gafoor as an Merchants hedged their bets, guished by mass selling of goods at low what lessons the successes of its protago- ately seeking to garner some buyers. Sub-
Such businessmen courted political individual, the book links it to the bigger margins. It created its own set of interme- nists hold for the historian of Indian busi- ramanian’s latest is a serious academic
connections astutely and secularly and narrative of how Muslim commercial playing both sides till it was diaries like the goladars as well as financial ness. While the reference is to Jeejee- book meant for readers seeking a deeper
their success rested upon their ability to enterprises rose in the 17th century thanks evident that the British were instruments like the hundi. bhoy and Tagore, it could be extrapo- understanding of the forces that have
forecast political upheavals. The mer- to the rise of other major Islamic world the power to back since they Such weaving together of disparate lated to all those featured. The most shaped Indian industry.
chants hedged their bets, often playing empires such as the Ottoman and the strands gives the book a solid academic significant lesson is what the author calls
both sides till it became evident that the Safavid. It also draws a direct line between
had both military superiority rigour and also enhances our understand- the “conjunction of circumstances” that Sundeep Khanna is a business columnist
British were the power to back since they the Industrial Revolution and the chang- and financial muscle ing of the period. While many historians include temperament, locational advan- and author of business books.
06 SATURDAY, 11 JANUARY 2025
NEW DELHI TASTE

The global reservation

game comes to India
Getting a dinner date
is easy, but finding a
table calls for luck as
restaurants demand
that diners reserve
seats weeks ahead
The Passion Fruit Lava Lamp at Trèsind, Mumbai.

Zero-proof drinks
Ghazal Chengappa

I
ghazal.chengappa@hindustantimes.com

s there a new restaurant you are

keen to try? They can probably

for Dry January

seat you for dinner five weeks
from now at 10pm—if you’re
lucky and can reserve a spot in
under two minutes online.
That’s why Bengaluru-based algo-
rithms engineer Dakshin Victor John, 28,
spent a few hours analysing session tim- A resolution to drink buzz-free beverages no
ing, page views and queues on the website longer means you’ll be out of spirits
of Naru, the noodle bar that opens for res-
ervations every Monday at 8pm and is
booked within minutes. John’s analysis, Jahnabee Borah
which he describes as “pretty simple”, jahnabee.b@livemint.com
ensured he got a table twice in six months

T
last year, quite a feat considering some emperance in the world of cocktails implies drinking with restraint or in
have been trying their luck every Monday moderation. Bartender Pawan Rawat chanced upon the word while crafting
since 2022. for 40% of India’s food services T 12-seater chef’s counter serves a
The the menu for the new bar Hitchens in Mumbai, and adopted it as the name
Not everyone takes as scientific an consumption, and dining out is 133-course tasting menu, priced at for the zero-proof drinks section. Zero-proof drinks are buzz-free choices for
approach to getting a table as John, but it expected to surge as their spend- ₹6,000. “Papa’s aims to create some- guests with dietary restrictions, and can be either creative mocktails or drinks
is true that the days of walking into Mum- ing power grows. This will con- th
hing akin to a Broadway show, where based on cocktail recipes minus the booze. While there are takers for zero-proof
bai and Bengaluru’s top restaurants on a tinue to drive demand for unique yoou are mesmerised by the set-up and drinks through the year, Dry January, a month-long campaign when people
whim are past. Today, the most coveted dining experiences. thhe people taking you through din- resolve to avoid alcohol in an effort to make healthier choices in the new year, is
ones demand a reservation—much like Sixteen-seater Naar by Sadhu is ner,” says co-founder Sameer Sheth.
n the time when demand really spikes.
restaurants in London, New York and testament to this. Located in “T
The concept demands you know “I have noticed most Gen Z customers ordering booze-free drinks from our
Paris do. One of the most significant Kasauli in Himachal Pradesh, Naar who you are serving. People are look-
w menus,” notes Shaariq Akhtar, general manager, ITC Grand Chola in Chennai,
changes in India’s restaurant landscape is a three-hour drive from Chandi- in
ng for an experience beyond din- which has seven restaurants. Chennai, he says, is a conservative city and about
has been the shift in the equation between garh. Upon arrival, the experience ner.” Papa’s is known to have a
n 55% of their drinks orders are without alcohol, which influences their menus. For
restaurants and customers. unfolds as a sensory journey, begin- “h
house party energy” with Shahzad instance, their drinks menu, Cholatails, has zero-proof options with regional
“With the rise of an aspirational middle ning with a garden walk by the chef chhatting with diners. “Food is the accents such as coconut water, nannari and the grape cola, Bovonto, made by the
class and a growing appetite for unique to forage ingredients and culminat- new music, we all want to be enter-
n Tamil Nadu-based soft drinks maker Kali Aerated Water Works.
dining experiences, it was only a matter of ing in a front-row seat at the open taained when we go out,” Sheth adds. Flavour is the game changer in drinks without alcohol. “They have to be palate-
time before this trend came to India,” says kitchen. A meal at Naar costs Even American-style diners are forward and yummy,” says Tarun Sibal, founder of the cocktail bar Khi Khi in
Raaj Sanghavi, CEO of the Mumbai-based around ₹7,200 and requires much tuurning exclusive. Take Guerilla Delhi and family-oriented restaurant Street Storyss in Bengaluru. Delhi enjoys
Culinary Culture, a restaurant and chef planning, including finding a hotel Diner in Bengaluru, a 12-seater
D its large pegs and at Khi Khi, regular cocktails also have non-alcoholic versions
rating, events and content platform. room. Bookings open 30 days in burger shop and taqueria launched because guests don’t want to miss out on the flavour aspect. Therefore, there’s
The rise of small-format, chef-led res- advance over phone or email. in
n October 2024 by Tushar Sood. a buzz-free Picante and Paloma. Khi Khi’s winter beverage menu features cock-
taurants has a lot to do with the way dining “A decade ago, such a concept Despite its “Ghetto burger shop”
D tails called CTC made with tequila, cranberry tea and balsamic reduction; Rum
culture in India is changing. Leading chefs would have been unthinkable. No Innstagram bio, reservations are & Raisin with lacto-fermented banana, pineapple, mint and bitters; and You are
like Hussain Shahzad, Prateek Sadhu, chef would have dared take the required, with bookings opening every Hot, Toddy. Each can be recreated as zero-proof. The interesting twist is they
Kavan Kuttappa and Kanishka Sharma plunge and no diner would have had the (from top) Chefs at Papa’s; Tuesday at 8pm. January is fully booked, don’t use alcohol-free rum or tequila.
headline intimate restaurants showcasing patience. Today, food lovers from across Naru’s Shroom Tonkotsu despite a ₹500 booking fee and 45-minute A number of stand-alone bars with buzz-free drinks don’t use zero-alcohol spir-
creative dishes, and their popularity cre- the country [are] willing to make the trek ramen bowl; and Pizza 4P’s time slots, with no walk-ins, deliveries, or its. One of the reasons is the limited demand for such spirits due to the high price.
ates a waiting list. A few casual spots, like for a one-of-a-kind experience,” Sanghvi signature ceviche salad. takeouts allowed. Rawat says their no-alcohol cocktails are priced no more than ₹450 a drink, while
Pizza 4P’s and Guerilla Diner in Benga- says, explaining the change in consumer Diners are going the extra mile, too. “At a bottle of zero-alcohol gin can cost up to ₹5,000 in Mumbai, depending on the
luru, have also put in place a reservation culture that has helped a destination din- Papa’s, our team has been offered concert brand. If it’s mixed into their booze-free drinks, the price of the drink would shoot
system because of the demand driven by ing concept like Naar succeed. tickets and dinner invitations for a reser- up and end up hurting sales.
their social media popularity. Walk-ins are a strict no-no at restau- vation,” Sheth says. In Bengaluru, equity Premium dining spots such as Trèsind in Mumbai’s corporate hub of Bandra-
A 2024 report by Swiggy and Bain & rants like Papa’s in Mumbai, helmed by adviser Raghav Sharma, 29, is a regular at Kurla Complex (BKC) and the restaurants at ITC Grand Chola do offer zero-alco-
Company, How India Eats, Shahzad, Kuttappa’s Naru Noo- 4P’s, where it was near impossible to get a hol spirits like Ginish and the no-alcohol wine Unvined by Jacob’s Creek. “Since
says the market for eating dle Bar and Sharma’s table when it opened in December 2023. we are in a corporate neighbourhood, we get a lot of lunch reservations. At that
out and ordering in is NĀVU in Bengaluru. “I bought 36 donuts and went to the man- time, guests don’t want spirit-forward beverages, and prefer something elegant
projected to nearly Reservations for The rise of chef-led ager, Kowada Ryo. Being Japanese, Ryo without alcohol,” explains Trèsind’s mixologist Rahul Kamath. To give their pat-
double by 2030, Papa’s open at 11am understood the cultural significance of rons a buzz-free innovative drinks experience, his team attempts to make bal-
reaching ₹9 tril- on the first day of restaurants, many of the gesture.” Sharma can now score a anced, nuanced drinks. One such beverage is The Passion Fruit Lava Lamp, com-
lion, up from ₹5.5 each month for which are small-format, table anytime and get take out. plete with mango, passion, blueberries and dry ice for a touch of drama.
trillion today. the following has a lot to do with While donuts and domain knowledge Five years ago, when Lounge did a story on zero-proof drinks, the struggle to
GenZ and month, and are are a few ways to get that coveted table, find drinks with taste, flavour and innovation was real. Now, most menus feature
younger demo- fully booked the way dining culture one thing is clear, exclusivity has become a long list of zero-proof drinks as the trend picks up slowly and steadily. Dry Janu-
graphics account within minutes. in India is changing. the ultimate culinary currency. ary doesn’t have to be a dry January.

A rich bounty of family, food and conversations

OUR from both sides strongly revolve around
what’s for dinner—and lunch, and
tomatoes
1 carrot, chopped
Ingredients
750g frozen corn
D A I LY breakfast, and snacks. It is a time of
laughter, love and fraternity, the gen-
2 tbsp garlic, chopped
500ml fish stock or water (to make fish
1 large onion, diced
1 tsp chipotle powder (substitute with
BREAD eral mood always fuelled by food. stock, boil fish head and bones in water paprika or Kashmiri red chilli powder)
This December, it struck me how for 15-20 minutes, remove scum if any) 2 cups water
SAMAR internationalist and inward-looking— 10-15 Kalamata or black olives 4 cups milk
HALARNKAR simultaneously—our collective culinary 3 tbsp fresh mint, chopped Dash of white pepper
outlook was. 2 tbsp fresh parsley or coriander, Dash of ground cumin
For my aunt’s 80th birthday in Mum- chopped Olive oil as required

W
hen I was married a quarter bai, her daughter organised a spread of 2 tbsp olive oil
century ago, my spouse was her favourite, native cuisine. So, there 1 tbsp black pepper Method
startled with what she was spicy fish curry, kolambi bhaath Salt to taste Grill the corn on a grill pan with oil and
believed was my family’s obsession with (prawn pulao), mutton curry with vade white pepper and salt until it chars or
food. As we scarfed down our lunch, she (like spicy puris), thalipeeth (Maharash- Method pops. Divide corn in half, then divide
noted, we discussed what was for dinner trian flatbread) with loni (white butter), For the chermoula: Coarsely grind a one of these halves in half, to use for the
and the next day’s breakfast. among a whole lot else. bunch of fresh coriander, 3-4 garlic garnish.
Nothing has changed—except she In Matheran, where the wife’s family cloves, 2-3 tsp cumin seeds, 1 red or Combine half the corn with the
now does the same thing, planning the reunites every year from across the green chilli, 4 tbsp olive oil, juice of a onions, cumin, and about half the water
day’s meals, discussing the next day’s, world, Sindhi curry and aloo tuk com- quarter lemon or 1 lime, a few strands in a blender or food processor. Pulse
refusing to acknowledge that food now peted with stuffed turkey. The conver- of saffron and 1 tsp salt briefly to a coarse paste. Add some
occupies her mind as much as mine. She sations around food, encompassing Ital- Rub the fish with salt and pepper, water if you need, but try to leave in
does not cook very much but is always ian, Canadian, Filipino, American and some olive oil and 3 tbsp of chermoula. chunks of corn.
generous with unsolicited comments. Indian families, were diverse, from Moroccan fish with chermoula, red peppers and preserved lemon. ISTOCKPHOTO Fry on a pan or grill until firm and In a large pan or pot, saute onions till
If I say Moroccan, she says desi. If I say tiramisu to chicken adobo to baking. done. Set aside soft. Add chipotle powder and saute for
chicken, she says lamb. If I say chicken In my experience, food made at home cous with winter vegetables in a rata- I do not deny that my family’s obses- Heat olive oil in a pan. Add garlic, a minute. Add about two-thirds of the
curry, she says grilled is better for the directly correlates with conversations touille, grilled eggplant in a simple sion with food may be of limited interest carrot, and onion and sauté until sof- milk, combine with the blended ingre-
teenager. If I say egg-white omelette, around it. Conversations lead to ideas yogurt sauce, and fish from the to many. But instead of discussing tened. Add half the chermoula, the dients, and bring to a boil. Reduce to a
she snorts. that stew in your brain, blend with what Maghreb, in a chermoula stew and gar- fraught topics of politics and money, tomatoes, and fish stock. Bring to a simmer for 10 minutes. Allow it to
Oh, she’s vegetarian—with strong you may read or eat, and lead you nished with mint and parsley (below). discussing corn and chermoula may be boil, cover and simmer for 25 minutes. thicken to gain flavour and texture. Add
opinions on meats and everything else. towards new frontiers. Indeed, that was My cousin, visiting from New York, more entertaining and free of conflict. Stir in the olives and the remaining water if needed. Add rest of the corn as
I don’t mind, of course. This country what happened. then arrived with more recipes and chermoula. garnish before serving.
needs strongly opinionated women, Back in Bengaluru, there were visible bounties of spices and ideas. One chilly FISH IN CHERMOULA SAUCE Arrange fish fillets in a wide, shallow
who, as we know, have changed the changes in the routine monthly reunion Bengaluru evening, she made us hearty Serves 5 dish, spoon over the sauce, garnish Our Daily Bread is a column on easy,
course of history. But let’s stick to my of my college mates. Refreshed by corn soup. The original recipe is from with mint and parsley or coriander. inventive cooking.
kitchen for this column. Christmas and New Year, we strayed the Blue Corn café in Santa Fe, New Ingredients Samar Halarnkar is the author of The
I particularly like December because substantially from our usual south Mexico, but her dramatically healthier 800g fish fillets (I used betki) ADITI’S FRIED CORN AND Married Man’s Guide To Creative Cook-
that is when we get to see a lot of her Indian spread. One of us cooked Trini- version below replaces heavy cream 1 onion, sliced CHIPOTLE SOUP ing—And Other Dubious Adventures.
family and mine, and conversations dadian chicken curry, and I made cous- with milk and water. 5 tomatoes, chopped or 1 400 gm can of Serves 6 He posts @samar11 on Twitter.
 STYLE SATURDAY, 11 JANUARY 2025
NEW DELHI 07

What’s the personal

style of stylists? COURTESY INSTAGRAM

Stylists dress their celebrity

clients to trend but when it
comes to dressing themselves,
they are ‘very mindful, very me’
Pooja Singh street and what’s trending on social
media and reinterpreting it to suit

F
pooja.s@htlive.com
the client’s personality. But all this
ashion stylists are rarely influences their own per-
image creators. They sonal style. In fact, the constant
tell the story of the exposure makes them even more
times by putting selective about their own war-
together an outfit to drobe. At least that’s what the styl- Zendaya in a Louis Vuitton gown, channelling old-world glamour, at the Golden
be worn by a celebrity for an event, ists Lounge reached out to said. We Globes 2025. AFP
an editorial shoot or even to the air- asked them about their personal
port. These “looks” are based on sense of style, and how often they

Nostalgia is
seasonal trends, mood, occasion are tempted to shop for themselves
and the way the celebrity wants to while sourcing clothes and accesso-
be perceived by public. ries for shoots.
Will a pair of neon-green feath- Besides comfort dressing, the

still in, so are

ered kitten heels elevate a simple one thing they all had in common
grey button-down cardigan and was keeping fashion mindful and
dark blue denims, or will a bright highly personal.
pink jacket do the trick? Will a As Shaleena Nathani, the style

animal prints
black dhoti do better with a match- force behind the likes of Shah Rukh
ing bandhgala or a pair of slim-fit Khan and Deepika Padukone, put
black pants? The stylist’s decision it: “Personal style is becoming a lost
can make or break the look. art, and we are becoming clones of
A large part of their job is being each other. We should follow
inspired by what’s presented on the trends but not without adding the
runway, what’s selling on the high ‘me’ in them.” A roundup of fashion trends that will
flourish in the new year

N
ostalgia is likely to trend in 2025 as well, going by runway fashion, and the
Golden Globes, the year’s first red carpet event and a fashion pageant of
sorts. You can see the trend continuing at home, if you sift through the lat-
est collections of homegrown designers, racks of fast-fashion brands and trawl
the ’gram for celebrity looks. It’s there to see in corduroy dresses and shirts (The
Row made them a thing in its spring 2025 collection), trench coats in different
shapes (Kriti Sanon wore a feathered one to the London fashion week, while Diljit
Dosanjh kept it a simple black for his meeting with Prime Minister Narendra
Modi), and unending interpretations of corsets. Besides this classicism, there are
many trends that will rule 2025, and here are some suggestions to keep you look-
Ó ing your best for the rest of the year.

SHALEENA NATHANI PLAY WITH MOTIFS

Elevated casual dressing that’s also More brands are adding playful, often child-
sexy. Like a white tank top that I will hood-dipped, motifs to fashion. In the Milan
knot around the waist, ripped jeans, a showcase of his spring-summer 2025 collec-
cool pair of heels, bright lipstick and tion, for instance, Dhruv Kapoor put his child-
chunky jewellery. Fitted and over- hood stuffie, a fabric bunny, as a print on
sized is also my go-to. For example, a dresses, pyjamas and jackets. Moschino,
fitted top with baggy jeans, or over- meanwhile, has added the sun-
sized shirt with cycling shorts. I never shine yellow smiley emoji on
wear a dress as is, it has to be a combi- jumpers, tees and bags, per-
nation of things, something that’s put haps indicating a desire to a
together, so that it’s cooler and differ- reconnect with simpler,
ent and shows my personality. more cheerful times.
There’s never a day I don’t think A similar pull towards a
about shopping. I’m a complete shop- “slower, more deliberate
aholic; it feeds my soul. I will buy pace is driving the emer-
whatever I like, unless it’s too expen- gence of the ‘villagecore
sive or I am not too sure about it. aesthetic’, which embra- By Dhruv
ces the simplicity and Kapoor;
richness of rural life,” and (left)
Anuradha Chandrashe- Moschino.
kar, co-founder and chief
creator of ICH NEXT, a homegrown trend
Ó COURTESY INSTAGRAM
d Amazon
forecast platform for fashion retail that has clients like Myntra and Amazon,
told Lounge. She predicts patterns and motifs inspired by folk art, like Gond Bhil,
DIYA MEHTA JATIA Warli and Chittara, will become a big part of mainstream fashion.
Minimalistic but edgy and COURTESY INSTAG
RAM
mood-dependent. I stick to Y
YEAR OF THE SNAKE
closet staples like high- “A
Animal prints are set to become the season’s rising
waisted flared jeans or a roll- stars,” French AI trend forecaster Heuritech has
neck sweater and a long coat, declared in its 2025 trends report.
d
but I will always try to elevate After the re-entry of the leopard print, “an outra-
the look with a statement geous neutral” as famously described by designer
g
bag, shoes or an accessory. Michael Kors, in the trends cycle in autumn/winter
M
There will always be a stand- 2024, it’s time for another animal print, the snake.
2
out element in my outfit. With 2025 as the year of the snake as per the Chi-
I shop a lot for family and nese zodiac, expect to see sleek snake prints, from
n
friends, and always end up jaackets and shoes to shirts and trousers—as evident
tempting myself in the bar- during Dries Van Noten spring-summer collec-
d
gain. But I do seasonal closet tiion—or in exaggerated forms when mixed and
cleanses and ensure there
are more staples in my war-
Ó Pharrell Williams
in snake matched with other motifs, as Pharrell Williams
m
exhibited during the Louis Vuitton show last year.
print.
drobe that are easier to layer DIVYAK D’SOUZA
and mix and match. Multifunctional and dynamic COLOUR CARDS COURTESY INSTAG
RAM
because of the nature of my job— Pantone might have declared Mocha Mousse as
one hour I am on the film set, the the colour of 2025, but it seems both neutrals
next I’m out sourcing. That’s why I and bright colours will enjoy equal takers.
give myself 5 minutes to dress and Fashion forecaster WGSN, in collaboration
buy versatile neutrals like greens, with colour system Coloro, has called Future
browns and black. I’m inclined Dusk, a shade between blue and purple, as the
towards the Japanese aesthetics, colour of 2025, stating, “from 2025 onward,
Ò since they lend themselves well to
layering, and are body-shape
the importance of dark shades will increase as
the polycrisis worsens and consumers opt for
MEAGAN CONCESSIO inclusive, so even if I gain or lose a more versatile and durable colours”.
Classic, vintage, second- few kgs, they fall well on the body. Social media platform Pinterest, too, made
hand. You will find me in I shop twice a year and regularly a similar observation in its annual trends
blazers, wide-legged or detox. If there’s something I COURTESY INSTAGRAM report, predicting dark cherry red, a shade
straight-fit dark blue or black haven’t worn for six months, it’s depicting passion, richness and ambition, to
jeans, biker shorts, check- out—I either donate it or give it to be present everywhere, from home decor to
ered shirt—very classic sepa- a friend. the runway and make-up aisles.
rates. My everyday wear
includes athleisure, not just SHINE BRIGHT
for the sake of comfort dress-
ing, but to remind myself to
Ò The Golden Globes saw celebrities wearing Kareena Kapoor Khan
more metallics than the go-to black, con- combines the subtle shine
of
workout. I shop from my TANYA GHAVRI firming the versatility of the shimmering metallics with a pop of
shoots and once in two I’ve always been a very androgynous dresser. Boyfriend fabric to create futuristic as well as retro co lour.
months, but it’s mostly hero jeans, flared pants, oversized blazers/shirts—they are func- ensembles. Metallics have also taken over the runway,
pieces that can be moved tional, chic, super trendy, good for layering and can be with designers such as Rick Owens and Gaurav Gupta experimenting with dis-
around. I’m a big online accessorised well. I invest heavily in monotone colours; tressed metallic and high-gloss finish fabrics in their recent collections. In street-
shopper when looking for these days, I’m more inclined towards nude/beige and tan. wear, brands like Zara and H&M have also added them to ripped jeans, jackets and
secondhand stuff; some of I am one of those who won’t shop till the clothes in the skirts.
my go-to are Aimeeloved closet are well used. I share them with my sister and friends;
and Viange Vintage. and I just don’t shop unless I really need something. —Compiled by Pooja Singh
08 SATURDAY, 11 JANUARY 2025
NEW DELHI COVER STORY SATURDAY, 11 JANUARY 2025
NEW DELHI 09

Tennis in 2025
A season of unrest and high drama
The sport is grappling with doping scandals and a Davis Cup team.
If Sinner destroys with his power, Alcaraz is
power vacuum following the decline of the Big a creator. The Spaniard is forever in pursuit of
the elegant solution, the most beautiful shot, the
Three. Meanwhile, a new generation of stars, led most daring vision. He can be relentless and
cheeky, warrior and poet. The versatility in his
by Jannik Sinner, Carlos Alcaraz, and Aryna game truly came alive in the summer as Alcaraz
Sabalenka, are poised to take centre stage captured the “Channel Slam”—the coveted French
and Wimbledon double, by most accounts one of the
toughest challenges in the sport.
At the Australian Open, 21-year-old Alcaraz is
attempting to become the youngest man to win a career
Grand Slam (winning all the four majors at least once).
Don Budge, who was 22 when he completed his career
slam at Roland Garros in 1938, currently holds the
record.
Sinner and Alcaraz have established themselves as the
leaders of the new generation; their rivalry is already
creating a buzz. Though they have been quick to answer Andy Murray (left) shakes hands with Novak Djokovic during a practice session in London in 2023. REUTERS
tennis’ existential questions in the wake of the game’s

Can Murray help Djokovic

golden generation, it is unlikely they will carry the baton
of consistency. Fans are quickly realising that Federer,
Nadal and Djokovic were the aberration; pro sportsper-
sons more often ride the wave of highs and lows than
flatline at enduring excellence.

win the Australian Open?

The whole of 2010s, the men’s game had only three
first-time major winners—Andy Murray, Stan
Wawrnika and Marin Cilic. Five years in, there have
already been four in the 2020s— Dominic Thiem, Daniil
Medvedev, Sinner and Alcaraz. Tennis is more open
again. At the Australian Open, Sinner and Alcaraz will
undoubtedly be the favourites, but players like Zverev,
Taylor Fritz (2024 US Open finalist), Andrey Rublev and The Australian Open is a significant marker AN EXTRA EDGE
Melbourne Park, the venue of the 2025 Australian Open. Medvedev will also go in thinking they have a fair Murray, a three-time Grand Slam champion, five-time Australian Open
chance. for Djokovic, who is chasing a record 25th finalist , former world No.1 and Olympic gold medallist, brings with him
Deepti Patwardhan
One of the most exciting prospects on the men’s tour Grand Slam singles title at a time when the freshness of someone in a first-time job, combined with the experi-
is Giovanni Mpetshi Perricard and we are likely to see ence of having played all of Djokovic’s contemporary opponents. All

F
more from this talented 21-year-old this year. The 6ft, 8 Jannik Sinner at younger rivals attempt to edge him out. his four losses in the Australian Open final came against Djokovic in
or years tennis prospered in its bubble of inches Frenchman, known for firing over 200 kmph 2011, 2013, 2015 and 2016.
excellence. With Roger Federer, Rafael second serves, zoomed from m 205 to 31 in the
the 2024
Australian Open
Getting Murray on his team gives Djokovic “That’s obviously the most intriguing coaching-player situation
Nadal and Novak Djokovic pushing each world rankings in 2024. He has a ridicu- men’s singles a chance for a dramatic reset, and may just we’ve seen in a very, very long time. The positive is if Novak ends up
other and the sport to greater heights, we lously strong serve, a proclivitty to rush final. winning the Australian Open and breaking the record and getting to
lived in a perpetual state of awe. But Fed- into the net and a single-haanded be the key to pull him out of his rut 25, wouldn’t it be fun to do it with Andy Murray, who can finally say he
erer retired in 2022, a broken Nadal walked away last backhand—qualities that co ould won the Australian Open, this time with Novak instead of having to play
year, and Djokovic’s challenge seems to be on its last see him make a serious dent on o Most Au ustralian against him. If it happens, it’s going to be one of the great stories,” said
legs. The sheen is off. Federer and Nadal are not there to the game. Open titles set in her five singles matches could mount a serious challenge later in the year. Arun Janardhan former multiple Grand Slam doubles champion and ESPN commenta-
dazzle us to distraction anymore; the cracks are begin- MEEN as she guided USA to United Big things are also expected of Mirra Andreeva, as ten- tor Rennae Stubbs.

A
ning to show. HISTORY BECKONS 10 Novak Djokovic Cu up title. nis’ latest teen prodigy continues to climb up the ranks. ndy Murray knows a thing or two about how to play Novak As a player, Murray always appeared self-aware, with an analytical
As the 2025 season dawns, the sport is still reeling Djokovic, at 37, may have 6 Roger Federer 2025 may also see the The 17-year-old created a stir on the tour last year as she Djokovic. Murray has beaten Djokovic 11 of the 36 times they brain, a thoughtful demeanour—besides possessing a dry sense of wit—
under the high-profile doping cases of Jannik Sinner lost some of his aura last 4 Andre e Agassi ree-emergence of former reached the last 16 at the Australian Open, the final four have met on the men’s tennis tour—not a figure in his favour. which showed the makings of a shrewd coach. “Andy’s very sharp with
and Iga Swiatek. Moreover, the lack of transparency and year, but he cannot be major champions Rybakina.
m at the French Open and snatched the silver at the Paris But eight of those wins have come on a hard court, the kind used in the the data side of things and strategy,” Murray’s coach Jamie Delgado
consistency in dealing with the positive drug tests counted out. Even in a “bad” WOM MEN In
n November, the Kazakh Olympics. She has regularly been compared to Martina Australian Open. told BBC Sport recently.
showed the sport and its authorities in poorer light. 2024, when the Serb wentt 7 Serena Williams addded some star power to her Hingis for the variety of shots and clever point construc- Murray also knows a thing or two about unusual coaching choices. Having played together since they were juniors, Murray would also
Even as World No.1 Sinner prepares to launch his Aus- Slam-less for the first timee 4 Evonne GGoolagong team m as she hired Ivanisevic, tion. Already a top-20 player, Andreeva seems well on At the peak of his career, the Scotsman got Amelie Mauresmo, one of be brutally honest with Djokovic, which may not have been the case
tralian Open defence, the World Anti-Doping Agency since 2017, he also completed da 4 Stefffi Graf the fformer Wimbledon cham- her way to Grand Slam glory. the first women to take up this role on the men’s tour, to guide him. with other coaches. Murray is not likely to be intimidated by or be in
(WADA) appeal against him is pending in the Court career Golden Slam by winn ning 4 Margarret Smith pion w who has guided Cilic and So when Djokovic hired Murray, who retired as a player last year awe of Djokovic, which could happen with anyone else taking on the
of Arbitration for Sport (CAS). the men’s singles event at thee Paris Cou urt Djokovic to Grand Slams, as her TRUST DEFICIT after the Paris Olympics, to coach him for this year’s Australian Open, role given Djokovic’s stature in the sport. Murray’s role is also specific
Then there’s the matter of scheduling. The 2025 Olympics. coach. Meanwhile, World No.2 and five-time major champion the strange novelty of the combination instantly made it the most and limited to the Australian Open, which gives both of them a
tennis season began on 27 December last year, with But the 10-time Australian n Open cham- Naomi Osakaa, who took a sabbatical and Swiatek will be hoping to move on from the doping saga. intriguing aspect of this year’s opening Grand Slam. What it does for focused objective.
the first of the tour events—the mixed-team United pion knows his time on the tou ur is now limited. To embraced motherho ood in 2023, made a strong In August 2024, when she was still No.1 in the world, Djokovic is to get an (former) opponent to fight in his corner; what it Djokovic seeks now—in the absence of the motivation his old rivals
Cup, the Brisbane International, ATP Hong Kong make the most of it, he has forged the most high-profile start to the year as she reached the finals in Auckland. Swiatek tested positive for trimetazidine (TMZ), a offers fans is the sight of two contemporary greats working from the provided, and in the presence of the urgency the new gen brings—just
Open and the WTA Auckland Open. partnership on the men’s tour by hiring former rival But her first final in almost three years ended in tears as banned substance that is used as heart medication and same side of the net. that one title that will put him clear ahead of all tennis players, male and
Carlos Alcaraz Tennis is a layered business with multiple stake-hold- Andy Murray as his coach. 2025 will prove whether she had to retire due to injury despite winning the first improves blood flow. She successfully appealed The Australian Open in Melbourne, beginning 12 January, is a signif- female. He shares the number, 24 Grand Slam singles titles, with Mar-
during the 2024 ers—men’s governing body ATP (Associa- bringing on one your closest rivals as coach is a master- set 6-4. The latest injury scare cast a doubt over Osaka’s against the provisional suspension—Swiatek and her icant marker for Djokovic, who is chasing a record 25th Grand Slam garet Court, having long gone ahead of male contenders Nadal (22) and
Australian Open. tion of Tennis Professionals) and stroke or whether Djokovic has taken his penchant for participation in the Australian Open, but the Japanese team argued that a contamination of melatonin, a singles title, his 100th career title and a 11th Australian Open at a time Federer (20).
women’s governing body WTA star coaches—he has worked with the likes of Andre medication she took for sleep issues, sold in Poland when younger rivals attempt to edge him out of relevance. “It’s pretty hard to count him (Djokovic) out no matter what the situ-
(Women’s Tennis Associa- Agassi, Boris Becker and Goran Ivanisevic previously— had led to the failed drug test—and was handed a light It’s especially significant because in 2024, Djokovic did not win a sin- ation is,” said ESPN commentator John McEnroe during a media brief-
tion), with the overall gov- too far. one-month ban. gle Grand Slam title, for the first time since 2017. He had just one title ing on 6 January. “I wouldn’t be surprised if he won one or a couple
erning body, the ITF (Inter- Murray’s first assignment will be to help the Serb Sinner, meanwhile, tested positive for anabolic ster- last year—a gold medal at the Olympics—his lowest number in 19 years more (Grand Slams), and I wouldn’t be surprised if he didn’t.”
national Tennis Federation), reclaim the Australian Open. That, of course, comes oid clostebol twice in March. The Italian argued that as a pro. His ranking has slipped to seventh, the lowest since 2017, a year Djokovic’s immediate need is to figure out how to get ahead of most
at the apex of a rather bulky with its own history-making baggage. Djokovic owns 24 his physiotherapist, Giacomo Naldi, had applied an when he didn’t really play much tennis. notably two younger rivals, the world No.1 Jannik Sinner and No.3 Car-
pyramid. Each of their four majors and 99 titles. He stands on the cusp of becoming ointment containing the steroid to treat a cut on his What Djokovic, one of the greatest male tennis players ever, los Alcaraz. The two players shared the Majors last year, with Sinner
Grand Slams have their the most successful singles Grand Slam player ever—he hand and the banned substance was transferred when needed was a dramatic reset, and getting a recently retired, arch rival winning in Melbourne and the US while Alcaraz got the French Open
own committees, so do is currently tied with Margaret Court for the most num- Naldi carried out massages on as coach, may just be the key to pull him out off the rut. If Murray and Wimbledon. La Last year, the Italian Sinner beat Djokovic in the Aus-
team events like Davis Cup ber singles titles at the majors. Winning the Australian the player without wearing knows how to beat Djokovic, he would be able to tralian Open semi-final, before eventually winning
and the Billie Jean King Open will also make him only the third male player, after Naomi gloves. With his lawyers estimate what it takes for Djokovic to stayy his maiden Grand Slam title. Djokovic had never
Cup. Jimmy Connors (109) and Roger Federer (103), to Osaka at appealing swiftly, Sinner unbeaten. Djokovic seeks—in the before lost in the Australian Open semi-final (or
With all these power bro- achieve a century of titles. the 2022 received a one-day and a “Twenty-five years of being rivals… we had some final for that matter), a sign of vulnerability and an
kers vying for finite time, 52 For a player who has relentlessly chased down history Australian three-day ban, respectively, of the most epic battles in our sports,” Djokovic absence of the motivation early indication for how the rest of the year was to
weeks, 365 days, the tennis for the past two decades, it doesn’t seem a challenge too Open. for his two offences. Since he said in a video statement about Murray on X in old rivals provided, and the turn out for him.
calendar now runs over 11 far. tested positive during the Indian November. “… I thought our story may be over, urgency the new gen brings— Djokovic has a 4-3 win-loss record against Alca-
months. Masters 1000 Wells, he was stripped off the $325,000 turns out it has one final chapter.” raz and 4-4 against Sinner, but the Italian has
events—which sit a rung THE AGE OF ARYNA? in prize money and 400 ranking
that one title that will put him beaten Djokovic on the last three occasions.
below the Grand Slams While anarchy has long-ruled the women’s game, points during the event. BACK ON THE COURT ahead of all tennis players Murray, who has gone through his own roller
in hierarchy of tourna- some patterns have emerged in the last couple of The speed with which the Interna- Djokovic said he took six months to figure what he coaster of triumphs and heartbreaks—both on the
ments—have expanded years. Aryna Sabalenka is the queen of the hard tional Tennis Integrity Agency needed at this stage of his career before making g tennis court and off-court with injuries—could
from 10 days into two- courts, Swiatek rules the red dirt and none of (ITIA) heard their cases and cleared that unexpected call to Murray, who had made no indications of getting empathise with and motivate Djokovic. Murray has a 1-1 (win-loss)
week events. Players them has quite figured out the fickle grass of them from an intention to dope left back to work so soon after hanging up his racket. “I realised the perfect head-to-head record against Sinner and is 1-1 against Alcaraz, which
ranked in the top 30, Wimbledon yet. the tennis world stunned. Sinner coach would be someone who has been through the experiences I’m gives him an understanding of their abilities and a unique perspective
the ones who usually Sabalenka, the 26-year-old with a big smile and Swiatek were given light sen- going through,” said Djokovic, “possibly a multiple Grand Slam winner as player-turned-part-time coach.
bring the fans to the and thunderous game, will head into the Austra- tences since the ITIA ruled there and world No.1… This collaboration is a surprise to everyone, including Djokovic played the Brisbane International in December-January
stadiums, have to lian Open as the two-time defending champion. was, “No Significant Fault or me, but it’s exciting for tennis.” for the first time in 16 years, having not needed that kind of preparation
play eight of the nine The Belarusian’s shot-making was never in Negligence”. This raised con- “Being on the same side of the net is actually great for a change for the Australian Open before. It was not an ideal start to his 2025 cam-
Masters, four 500 doubt, but earlier in her career she was constantly cerns over a) whether the because he’s (Murray) been one of my greatest rivals,” Djokovic told the paign though—he lost for the first time ever to Reilly Opelka, a 27-year-
events and at least two bourne on 12 January. Aryna Sabalenka during the let down by a bout of nerves and glut of double authorities were taking the ATP (Association of Tennis Professionals) website last month. old American ranked nearly 300 in the world.
250 events. There is lit- women’s singles final of the faults at crucial moments. But once she won the 2023 doping menace seriously and Murray and Djokovic are both the same age—born one week apart In Brisbane, Djokovic mentioned how he and his new coach would
tle space to breathe and no GAME IN TRANSITION 2024 Australian Open. Australian Open, with a nervy come-from-behind win b) whether bigger names in May 1987 with the former being older—but Murray’s career peaked do a lot of video analysis of his main opponents, to understand how his
room to revolt. On court too, tennis seems less predictable and more PHOTOGRAPHS FROM GETTY IMAGES over Elena Rybakina, Sabalenka has steadied into a were given preferential treat- and plummeted far more rapidly than the Serbian’s. With a particularly game matches up to players 14-16 years younger. Murray, in that sense,
“Probably they are going to kill us volatile. serial winner on hard courts. ment. bruising style of play, Murray’s body failed to sustain the sport’s will provide the hugely motivated, mentally strong Djokovic a little
in some way,” Wimbledon champion The men’s game turned a corner in 2024 as Sinner Last year, she won the Aussie Open without dropping “Two world No.1s both get- demands, with his hip buckling in first, leading to a progressive decline extra edge that he needs for one last swing at glory.
Carlos Alcaraz said of the simmering picked up the two hard-court majors—Australian Open a set, picked up her first US Open title and finished the ting done for doping is dis- in his abilities. “This thing with Murray and Djokovic, especially if Djokovic wins
issue during the Laver Cup in Sep- and US Open—while Alcaraz captured the French Open year at World No.1. Picking up where she left off, Sabal- gusting for our sport. It’s a Djokovic’s elastic, vegan-fuelled body has endured further than his Australia, then it would be like, wow, this is incredible. I’m sure he’d
tember. and Wimbledon. It was the first time since 2003 that enka began 2025 by winning the Brisbane International horrible look,” Nick Kyrgios, rival-turned-partner Murray, better than his other great opponent (Murray) be flooded with coaching requests, or maybe they’d stick with
“The ATP doesn’t care about our neither of the Big 3 won a Grand Slam. on 4 January. It might be just the shot of confidence she who last played in June 2023, said in Rafael Nadal, who retired last year at age 38, and almost as well as Roger him for the rest of the year. To me, if it doesn’t work out, let’s say Djok-
opinion—it’s a money business,” The lanky Italian had set the tone, by defeating needed as she bids to become the first woman since Mar- Brisbane last week. “Tennis integrity right now, and Federer, who was over 40 when he stopped playing in 2022. ovic loses in the quarters or semis and then they decide not to continue,
World No.2 Alexander Zverev said at 10-time champion Djokovic in the semi-final in Mel- tina Hingis in 1999 to win three straight Australian everyone knows it but no one wants to speak about Djokovic has in the past tried briefer stints with Boris Becker and would Murray want to coach someone else. So that would be the ques-
the same tournament. “It’s the longest bourne. Remarkably, Sinner didn’t face a single break Open titles. it, it’s awful.” Andre Agassi as coaches, besides Goran Ivanisevic in a six-year associa- tions I would have,” said McEnroe. “Murray coaching Djokovic… It’s
season in sports. It’s unnecessarily long. point against the Serb, who is regarded as the best But it won’t come easy—there are a Tennis’ deep pockets and global reach tion that ended last March and brought 12 Grand Slam titles. Getting remarkable to say the least. Fun to talk about.”
We have an unnecessary amount of tour- returner in tennis. Sinner already possesses easy power At the Australian Open, bunch of players vying for Sabal- may well help it weather the storm. The Murray in his team possibly allows Djokovic to have one other member In 2016, Murray beat Djokovic in the ATP Finals to end the year as
naments. We’re not allowed to boycott; we and quality groundstrokes of both flanks; the improved enka’s throne. Former biggest appeal of the sport however of the Big Four—as Federer, Nadal, Djokovic and Murray were referred the No.1 ranked player. He said later—and The Guardian reported—
get fined if we don’t play tournaments…the serve gave his game a lethal edge. He continued to domi- Sinner and Alcaraz will be the US Open champion remains the players, their individualism, to at the peak of their overlapping careers—around, for familiarity and “When me and Novak speak with each other, we don’t talk about ten-
tour goes on without you.” nate the tour in 2024, finishing with the season’s best favourites, but Zverev, Taylor Coco Gauff is on a their personal journeys and ever-changing nar- inspiration. nis, rankings, the matches we play against each other. Maybe when we
Disgruntled players, mercenary bosses, record of 73 wins to just six losses. On hard courts, he Fritz, Rublev and Medvedev hot-streak coming ratives. 2025 promises another season of high “Never even liked tennis anyway,” Murray had posted on X in jest, finish playing, that might change.”
the sport’s integrity in question—this is the went an astounding 53-3. The 23-year-old ended the into the Australian drama. the day he retired last year. Hedidn’tknowthenjusthowrighthewasgoingtobeeightyearslater.
backdrop against which the year’s first Grand year on a high, winning the US Open, the ATP Tour
will also go in thinking they Open as she claimed the “He never liked retirement anyway,” was Djokovic’s aptly timed Arun Janardhan is a Mumbai-based journalist who covers sports, busi-
Slam, the Australian Open, will begin in Mel- Finals in hometown Turin and was part of the winning have a fair chance season-ending WTA Finals and didn’t drop a single Deepti Patwardhan is a sportswriter based in Mumbai. retort a few months later, when he announced Murray’s appointment. ness leaders and lifestyle. He posts @iArunJ.
10 SATURDAY, 11 JANUARY 2025
NEW DELHI PAUSE

Planning the best version of

yourself with pen and paper ISTOCKPHOTO

For these indie COURTESY THE INK BUCKET

businesses and their

customers, digital
planning can never
replace the joy
of pen and paper
Somak Ghoshal

I
somak.ghoshal@partner.livemint.com

n 2022, Shampa Kabi, a graphic

designer based in Mumbai, left
her job with an art gallery and
decided to start a small business.
It was the last stretch of the cov-
id-19 pandemic and most of the world was
reeling from the aftermath of the lock-
downs. For the previous two years, people
had been pushed to the edge working
from home, struggling to stay organised in
between Zoom fatigue, virtual schooling
and grocery runs. Simply staying afloat, if
not organised, had been a full-time job for
millions across the globe for over a year.
It was against this backdrop that Kabi
decided to launch her brand, Decluttercat, (clockwise, from top: A planner
featuring her own line of paper planners. from The Ink Bucket; pages from a
“I have always been a pen and paper per- planner by Alicia Souza; the Kid’s
son,” she says on the phone, “but I never Journal from The Journal Lab; and
found a planner I liked. And so, I started a planner from The June Shop.
designing my own planners.” The elegant,
minimal notebooks caught the eye of each year.”
friends, who began to demand similar For 2025, Souza is excited to have
products for themselves, which led Kabi to launched a daily planner for the first
print 100 copies of her weekly planner in time. “It’s been a year of logistical night-
2022. It sold out fast—the kind of proof of mares. Everything that could go wrong
concept every aspiring entrepreneur went wrong, timelines went haywire,”
wants to see. she says. “You’d think after being in this
Kabi wasn’t alone in noticing a surge of business for so long, we’d be better at
interest in planners and journals in the hacking it.” But the reality of running
early 2020s. In another part of the coun- small businesses remains far from
try, in Coimbatore, Harini Palanisamy, smooth, even in 2025.
founder of a premium stationery brand, That’s why when Vidhi Khandelwal
The Journal Lab, then just a couple of started The Ink Bucket as part of an incu-
years old, also saw traction for her flagship bator program of e-tailer Myntra in 2016,
planner, Find Your Balance, which dou- she didn’t expect to get deep into station-
bled up as a self-care journal. ery as a category. “I was making bags,
“Most of our products are created for a COURTESY THE JUNE SHOP before I realised the hand-painted art-
general audience, and not just for women, Pomodoro Method, Time Blocking, Deep works that were part of my style would

GETTING
who are the typical target customers for a Work, and so on. translate very well into stationery,” she
lot of stationery brands,” she says of her But the best planning strategies, as Eis- says on the phone from Bengaluru.
journals, planners and productivity tools enhower’s practice showed, are uniquely Influenced by a mother who painted
that have minimalistic cover designs,
muted colour palettes, and mostly gen- IT DONE personal—adaptable to individual needs
and desires. It’s a principle that holds
and a father who ran a business, Khandel-
wal turned her passion for illustration
der-agnostic vibes. Resources to explore true to this date, be it among creators or into full-time work three years ago. “D2C
Two weeks into the new year, the plan- stress-free productivity users of planners, inspiring them to grav- businesses saw a huge boom around the
ner season isn’t petering away. Digital itate towards the act of creating their own pandemic, and everyone seemed to want
apps and devices that promise to make us MARIANA VIEIRA ON YOU- systems, driven by specific goals and a planner,” she adds, echoing the view of
the best versions of ourselves continue to TUBE: In the boys’ club of pro- intentions. many other small-business founders.
flood the market. Social media is garru- ductivity gurus, Mariana Vieira Some, like Pal, are creatively inclined to
lous with productivity advice, coming brings fresh MAKE IT YOUR OWN make their own planner or bullet journal.
from creators like Ali Abdaal with multi- energy with her “I’ve always loved writing, but it was only Then there are others like journalist and
million followers to your wannabe influ- warm and when I was going through therapy a few author Rohini Mohan, who has benefited
encer uncle on Meta, and Big Tech is friendly pres- years ago to overcome a rough patch that from templated versions offered by
laughing all the way to the bank. ence. Her I realised the power of doing it in a specific brands like Odd Giraffe. Mohan, who uses
According to Statista, the total revenue accessible structured format,” Palanisamy says. the brand’s Priority Planner, finds it useful
in the digital productivity segment is content and For her, plan- COURTESY ALICIA SOU to segment the
ZA
likely to grow by 8.31% each year, resulting actionable ning was more many parts of
in a projected market volume of $10.83 tips help you than time man- her life: work,
billion by 2029. But the numbers are even think of pro- agement—it was volunteering,
more impressive in the non-tech space, ductivity not an outlet to pro- caregiving, per-
relatively speaking. The market size for as a monster cess her feelings. sonal interests
diaries and planners, globally, is expected waiting to swallow you up whole “Nobody taught and so on.
to be $1,472.98 million by 2031 at an but rather as a moody best me how to regu- “This one has
annual growth rate of 4.1%, according to friend, who is fun to hang out late my emo- upped my game,
Business Research Insights. with one day, and dull on others. tions in school made me truly
That’s some serious stats, considering or college,” she more productive
all the doomsday predictions about AI tak- SLOW PRODUCTIVITY BY adds. “I didn’t and also kinder
ing away jobs and everyone moving CAL NEWPORT: The computer want my daugh- to myself,” she
towards increasingly automated modes of science professor, best known ter to end up like me. So I came up says. “I tend to
living. So it begs the question: Why do she wrote. “In strange, overlapping ways, erb for our times: “Plans are worthless, but for his theory of Deep Work, with a kids’ journal at The Journal Lab, access the subconscious, intuitive, uned-
some people stubbornly stick to pen and where, in the middle of what seems to be planning is everything.” offers gentle recalibration tech- which, till date, remains one of a kind in ited parts of my mind more freely when I
paper in this Age of Automata, taking the a journal entry, I may want to note down As Supreme Commander of the Allied niques to maximise your output. the market.” write by hand, whether it is to plan my
trouble to literally pencil in appointments, an idea for a poem, or add an item to my Expeditionary Forces in Europe during As the subtitle reassuringly puts My Little Big Day Journal comes with day, the skeletal structure of chapter, or
and lugging around bulky paper planners, shopping list, and I would like to have World War II, the man who would even- it, this book will help you crack multiple colourful cover options, quirky article.”
when the whole wide world is but an oys- space for them within the same pages.” tually be a global leader, had developed “The Lost Art of Accomplish- illustrations and a guided layout for users Anecdotally, there is plenty of evi-
ter in the palm of their hands in the form Scholar and researcher Medhashri quite a reputation for being a stickler for ment Without Burnout”. to navigate its pages. From gratitude to dence that writing by hand isn’t going
of a smartphone? Mahanty spoke of the “indelible assur- organising his life and work. One of his goal setting, it urges little “journalers” to away anytime soon. There is scientific
ance” of paper planners. “I can’t look away most useful innovations was an elegant THE HAPPINESS LAB WITH focus on various aspects of their daily evidence to support the act too. Last
THE HUMAN TOUCH from paper,” she said, unlike digital plan- 2x2 matrix that he used to Do, Schedule, DR LAURIE SANTOS: This Yale lives—moments of small joys or sorrows year, a study published in the research
In the 24 hours during which I put a ver- ners, where alerts can be COURTESY THE
JOURNAL LAB Delegate or Delete professor’s course on the sci- that adults gloss over, tough emotions journal, Frontiers In Psychology, found
sion of the above question on my Insta- snoozed or tasks. ence of well-being (freely that grown-ups tend to ignore or sup- that writing by hand increases electrical
gram Stories, I got a flurry of responses. deleted. Curiously, 60-odd available press—and process events with care and activity across a wide range of intercon-
One common theme to emerge was the “I find the years later, as cov- online) is the intention. nected regions in the brain responsible
intensely personal act of longhand writing act of literally id-19 ran amok, Eise- most attended Find Your Balance, the best-selling for movement, vision, sensory process-
on paper and its impact on our memory ticking some- nhower’s ghost, in the history of adult counterpart of the children’s jour- ing and memory.
and mental health. thing off my along with some of her university. nal, functions as the same outlet for par- All the founders I spoke to were hopeful
“It’s how we remember—fingers have list very satisfy- his antiquated plan- Listen to her ents, compelling them to look deeply into that the tactile thrill of encounter with a
their own memory circuits and pen on ing,” writer ning tools, returned podcast to the different quadrants of their lives. pen and paper planner will continue to
paper is permanent,” photographer Arthy Mut- to haunt the world. understand the “After all, planning is not only for work, give us a reprieve from the despotism of
Dayanita Singh messaged. “So even hanna Singh With the lock- mechanics of but also for self-care,” Palanisamy says. screens. “There are people who want to
though there’s Google calendar, I still added. “Digital downs beginning seeking and finding happiness. She also has custom planners for expect- write unbothered by notifications,” Khan-
need to write in a diary with a pen.” tools don’t com- to take a toll on ant mothers and parents, curated through delwal says. As Priyanka Sarkar, a trans-
Writer and critic Deepanjana Pal had a pare.” millions, the “Eise- ‘I DID’ LISTS: We all know the her research and personal experience of lator, puts it, “With the computer, there’s
related reason for preferring longhand. There’s deep nhower Matrix” suddenly gained a huge power of to-do lists. But who motherhood and parenting. always this wall.”
“Fancifully, notebooks and journals, the anecdotal evidence that human beings following worldwide. knew keeping an “I did” list Illustrator and designer Alicia Souza’s With deepening mental health crises
practice of writing by hand, these feel like indeed experience a dopamine burst According to Google Trends data, there would be next level? There’s journals, in contrast, are a world apart. across generations, planning can become
connections to a lineage of writers who when crossing off things. Former US Pres- was a 4X rise in interest among users neuroscience to back the theory With their bold colours, cartoons and a solace and self-care activity that doesn’t
have scribbled on notebooks to docu- ident Dwight D. Eisenhower, the forefa- searching for the term between July 2016 that keeping a tab on things you stickers, the vibe is all about fun and a cost the earth.
ment, process and reimagine realities,” ther of modern-day productivity gurus, and July 2020. In September 2024, the are getting done reprogrammes youthful energy. “We have been around “On days when I’m not terribly caught
she responded. “This is my tribe.” figured it out decades ago (not that he had number was 3X up from July 2020. the brain towards positive for a decade,” Souza says on the phone up, I spend close to 30 minutes with my
Poet Alolika Dutta added that she uses computers as an alternative anyway). In 2025, five years since World Health thoughts and boosts your from Bengaluru. “We always take into bullet journal, which is also my ‘slowing
her diary—an all-encompassing planner, In 1957, when he was giving a speech at Organisation (WHO) termed covid-19 a self-confidence. account customer feedback to experiment down’ time for the day,” says writer Samin
journal, commonplace book, and more— the National Defense Executive Reserve pandemic, public curiosity about the term with new printing styles and material. Sayeda. “There have been years when I felt
as an extension of her brain. “It is repre- Conference in Washington, D.C, he made continues on the search engine. As does That’s how we try to keep the design lan- it was this journal that helped me pull
sentative of my mind, of life in general,” a peculiar remark that has become a prov- searches for productivity jargon like guage and the appeal of the planners fresh myself together.”
 CULTURE SATURDAY, 11 JANUARY 2025
NEW DELHI 11

The other Count: With Robert Eggers’ ‘Nosferatu’

in theatres, we examine the

Nosferatu lives on
small but distinguished filmic
legacy of this vampire, an
unauthorised version of Dracula
but with crucial differences

Gayle Sequeira

L
ike the now-iconic image of
Count Orlok arising from his
coffin, Nosferatu has resur-
rected itself over and over
for more than a century of
cinematic adaptations, despite an early
attempt to drive a stake through its heart.
On discovering that the 1922 silent Ger-
man Expressionist film (streaming on
Plex) was an unauthorised adaptation of
author Bram Stoker’s Dracula, his widow,
Florence, was furious. A years-long legal
battle ensued and in 1925, a German court
ordered that all copies of Nosferatu,
directed by F.W. Murnau, be destroyed.
Luckily, some prints had already made
their way over to America, where Dracula
was in the public domain. Nosferatu sur-
vived, and cinema was all the better for it
(Robert Eggers’ 2024 version, starring Bill
Skarsgård, Nicholas Hoult and Lily-Rose
Depp, releases in Indian cinemas this
week).
Murnau’s eerie undead antagonist, the Herzog sticks to the beats of Murnau’s (Willem Dafoe) to play Count Orlok. Not
Transylvanian vampire Count Orlok (Max film, but conjures up some striking imag- much is known about Max Schreck, the
Schreck), isn’t suave or alluring like his ery of his own. Dracula’s approaching actor who played the vampire in the origi-
counterparts that would eventually come shadow grows larger and larger until it’s nal Nosferatu, which makes his story ripe
to be associated with the genre—Christo- eclipsed the entirety of the Harkers’ for speculative fiction. Even his name
pher Lee in the Hammer horror films of house, evocative of a pall of gloom plays into the mythmaking—“Schreck” is
the 1950s onwards, or Twilight’s Edward descending on their home. A haunting the German word for “fright”.
Cullen. Instead, Orlok has unusually scene towards the end depicts a family Shadow of the Vampire derives tension
pointy ears on which tufts of hair sprout, enjoying their last meal as plague rats from a director for whom complete con-
long claw-like fingers, a glassy unblinking swarm over their feet and their dining trol is part of the job description hiring a
stare and two sharp, protruding front table. Herzog also emphasises the implicit supernatural being beyond his control.
teeth. The image of this pale, inhuman sexual aspect of Murnau’s film. Here, Still, there’s comedy in how this sweeping
creature sinking his fangs into your neck Dracula wants not just Lucy Harker’s (Isa- force of nature, this harbinger of pesti-
when you’re asleep —a time when you’re belle Adjani) blood, but also her body. lence, is reduced to yet another prop to be
never more vulnerable—is terrifying. Once again, her sacrifice vanquishes the pushed around on a set. The film wryly
More than his appearance, however, it’s Count, but Herzog also plays up her cour- points out how accommodating method
what he represents that makes the terrors age and resourcefulness in this version by actors is as hard as accommodating a real
so enduring. painting her as the Cassandra figure of vampire. Murnau, however, is just as
The word “Nosferatu” itself is con- Greek myth, helplessly attempting to predatory as his hire. He endangers his
nected to “nosophoros”, the Greek word real-estate agent Thomas Hutter (Gustav grandfather clock with a skeletal, grim Stills from the 1922 film warn the townspeople of the danger. By cast and crew in his pursuit of authenticity
for “disease-bearing”. Those bitten by the von Wangenheim) discovers pinpricks on reaper figurine. Unlike the 1922 version, (above); and Werner the end, Jonathan awakes from his fever- in filmmaking, a medium of inherent arti-
Count don’t transform into vampires, as his neck after a night at Orlok’s castle, he however, this Nosferatu is not just a force Herzog’s 1979 remake. ish stupor and begins ordering his house- fice. At the same time, director E. Elias
they do in Stoker’s novel. Instead, they die. mistakes the two clear fang marks for of destruction, but also dealing with the maid around. All is well, except his smile Merhige faithfully recreates the look and
Nosferatu’s opening title card refers to a mosquito bites, “quite close together”. His pain of being indestructible—centuries now appears different. It’s crueler. And feel of early silent movies, making his Nos-
fictional plague, but it released just four utter obliviousness is amusing, but have passed and being unable to grow old features two prominent fangs. In this feratu feel as “authentic” as the real one.
years after the 1918 Spanish Flu, one of the through mosquitoes, another disease-car- has made him grow weary instead. Herzog adaptation, the horrors are relentless. Through Murnau the director, who not
deadliest pandemics in history, estimated rying insect, the film refocuses our atten- lingers on meditative shots of the land- The abiding horror of Murnau’s vam- only believes that art requires sacrifice,
to have killed 400,000-plus Germans tion on its preoccupation with illness. The scape and long stretches of clouds drifting pire is that he not only invades a town, but but demands it, the film indicts filmmak-
within just a few months, only slightly sight of Nosferatu lugging his coffin across the sky, making us feel the passage creeps into its inhabitants’ minds, his ers who perpetuate systems of abuse on
more than the country’s military casual- around Wisborg in search of his new of time as his vampire does. “Death is not capacity for psychological terror bound- their sets. The vampire Max’s obsession
ties that year. accommodation—a logistical burden even the worst,” says Count Dracula (Klaus Kin- less. Like the contagion he represents, he with lead actor Greta Schröder (Catherine
Consider the imagery Murnau associ- a supernatural creature can’t evade—is ski). Abject loneliness is. has the uncanny ability to mutate into cur- McCormack) mirrors Nosferatu’s obses-
ates Orlok with—rats, the symbols of dis- hilarious. Later, however, it parallels a While Murnau’s film is silent, Herzog’s rent anxieties, which explains his long- sion with Ellen Hutter (Greta Schröder) in
ease, and coffins, omens of death. When procession of plague victims’ coffins being uses sound to unnerving effect. Being lasting cinematic lineage. the original film. The threat to Greta is not
the Count sails to the fictional German carried out of town, rendering the scene unable to hear Nosfearatu speak means The English-language Gothic mystery only supernatural but all too real, from a
town of Wisborg, rats crawl out of his tragic in hindsight. Orlok, having swept one must imagine the inflection with Shadow of the Vampire (2000), released 12 director who entraps her and crew mem-
ship’s hold, linking him to the 14th cen- through the town with a marker of death, which he speaks of Hutter’s wife’s “beauti- years after Vampire in Venice and framed bers who assault her.
tury Bubonic Plague or “Black Death”. is now responsible for theirs. ful throat”, eyes wild with desire, mouth a behind-the-scenes look at the making of The real Murnau died in a car accident
Assumed to have been spread by rodents, Likewise, Werner Herzog’s 1979 agape as though salivating. On the other Nosferatu, astutely views filmmaking itself in 1931; he did not live long enough to see
the pandemic killed around 25 million remake, also in German, of this classic also hand, to hear Dracula speak of mundane The abiding horror of as a vampiric enterprise that saps the life the feverish imagination his creation
Europeans. The film makes a direct refer- announces its fixation with death daily activities—the servants, the food— of its cast and crew. It’s the director who’s would inspire in the years to come. The
ence to it during an intertitle that upfront— the opening credits of Nosferatu only heightens how unnatural he is, a per- Nosferatu is that he not only the monstrous figure, willing to offer indelible silhouette he created—of Nos-
describes Orlok’s coffins as being filled the Vampyre unfold against the mummi- former trying out a part. Real-estate agent invades a town, but creeps them up on the altar of his ambition. The feratu’s long gnarled hand creeping
with “accursed earth from the fields of the fied remains of those who had succumbed Jonathan Harker’s (Bruno Ganz) footsteps into its inhabitants’ minds, his film envisions Murnau (John Malkovich) towards a door—lives on, unlocking new
Black Death”. to the 1833 Guanajuato cholera epidemic echo through the Count’s cavernous cas- as prone to pretentious word salad and fears with each iteration.
Even the film’s more comic moments and are now preserved in the Mexican tle, reinforcing just how alone and
capacity for psychological faux-artsiness, so slavishly devoted to Gayle Sequeira is a Mumbai-based film
bear an undercurrent of terror. When state’s museum. Both films feature a defenceless he is. terror boundless realism that he hires a real-life vampire critic.

Rana Begum’s distinct language of minimalism

In her ongoing solo in shapes and patterns. Her third showing in characterised by an architectural or a grid- numerically titled—carrying names like
2019, on the other hand, was spatially based form have invited obvious compari- No.1361, No.1411, No.1412 and No.1413,
Mumbai, the artist more expansive. sons with eminent forerunners like Agnes indicative of continued explorations in
showcases specific The thrust of the current exhibition Martin and Donald Judd. But her works her practice.
appears to be on specific strands of her marked by organic shapes, examples of And then there are monochromatic
strands of her practice oeuvre, leaning on new relief panel works which include her monumental installa- watercolours on paper, six of which are
made in 2024, a large wall-based installa- tion inspired by basket weaving tech- on display. These are small and intimate,
through new relief panels tion, which emerged from a residency she niques, at the Dhaka Art Summit in 2014; with the grid paper having been painted
attended in Istanbul in 2019, and a presen- or more recently her suspended mesh- with a watered-down and graded wash. “I
Anindo Sen tation of works in watercolour on paper. forms exhibited at the touring Dappled struggled with colour in recent years,
The expansive three dimensionality of Light shows in the UK in 2022 and 2023 focusing more on the relationship

A
t the Jhaveri Contemporary, Mum- form, which has characterised her recent could also remind one of American mod- between colour and form,” shares
bai, you come across a finely meas- shows elsewhere, appears absent here. ernist artist Ruth Asawa’s abstract looped- Begum. “I have now realised the impor-
ured study in abstract minimalism However, equally evocative are her wall- wire sculptures. tance of exploring the impact of colour in
in Bangladesh-born Rana Begum’s epony- based works, on display in this show, Architecture has profoundly influ- various forms, from large spot paintings
mously titled solo. For those who follow which explore the play of colour in a more enced Begum since her early days, given to smaller watercolours.”
abstraction, this show—much like artist intimate setting, inviting intuitive her interest in examining the possibilities These works, which were started dur-
Prabhavathi Meppayil’s austere contem- responses from the observer. The space, through the manipulation of light and col- ing the covid-19 lockdowns as a therapeu-
plations showcased at the Mumbai-based lit up by the winter sun, complements our in spaces. That has led to continuing tic refuge, have now become an ongoing
gallery earlier—would offer much to think Begum’s works, which feed off the ambi- dialogues with architects, and integration habit to zone out the stress that can creep
about. The space seems to have trans- ent, but not overexposed, natural light. of architectural elements into her prac- up from time to time while juggling a
formed with this show, which opened on 9 This results in revelations of subtle shifts tice. Perhaps the most vital collaborative household and a fully functioning studio,
January as part of the annual Mumbai Gal- in tonal variations. project is her own award-winning home- says the artist.
lery Weekend. Meppayil’s solemn, mostly The first work that meets the visitor is Installation view of Rana Begum’s works such as new relief panel works, wall-based studio in North East London, designed by Begum seems to have found her own
white and bare, sculptural paintings seem No.974 (2019-20), a large wall-based installation, and a set of watercolours on paper. PHOTOGRAPH COURTESY JHAVERI CONTEMPORARY Peter Culley and his architectural firm abstract language that fits into the canon
to have given way to Begum’s forms with installation in high relief, comprising 29 Spatial Affairs Bureau. of minimalism and yet allows her to carve
soft, blooming hues. In visual effect, it feels multi-hued elements, born out of the world—in Ukraine, Palestine, and more— imprints of modernist art movements like The second set of works are ridged alu- a distinct path through it. Whether it is her
like winter is turning to spring. explorations in Istanbul. There, she found continue to impact her. “It is very naive to Minimalism, Constructivism and Op art minium relief panels alluding to this long- nuanced play with hue, tint and shade in
The artist, who currently lives and inspiration in the storied domes that dot say that our views or opinions don’t mat- (optical art). But she is sensitive to being term engagement as they incorporate her relief panels in this exhibition, or her
works in London, is no stranger to Jhaveri the skyline of the city. While researching ter. Or to say that artists’ works aren’t cursorily categorised, implying a willing- architectural elements of form and per- previous expansive, suspended mesh
Contemporary: this is her fourth solo local crafts and experimenting with new about their political views. Our work ness to embrace the tougher path to criti- spective with the ridges alternating hori- forms that transcend the minimalist ethos
there in 13 years. Her debut in 2011, titled production techniques at a metal-spin- comes out of our experiences, and cal recognition. “My work falls between zontally and vertically. Drawing from of simplistic shapes and hard edges—her
The Folded Page, consisted of wall-based ning workshop, she cast moulds inspired whether we are artists, architects, design- painting, sculpture and architecture. The ideas she explored early in her career, practice encourages engagement of the
painted metal sculptures, which were by the bases of Turkish lamps resembling ers, musicians… we have a responsibility,” fluidity of the practice allows me to here she appears to examine form, light visitor with the work in varied ways.
inspired by urban environments and fur- the well-known domes. she says. Begum wishes to create spaces explore different media and techniques to and colour in a more focused manner. As
niture. And her second show in 2015, The artist moved to the UK with her that make us think, reflect on the world express my ideas, while not isolating the observer moves from one side to the The exhibition is on till 22 February at
Towards an Infinite Geometry, featured family at the age of eight and has lived that we live in—where people can under- myself and maintaining a dialogue with other, the colour of the spray-painted alu- Jhaveri Contemporary, Colaba, Mumbai.
triangular grids, mesh-based works, and there for four decades now. But the events stand themselves and their lives better. other artists (and architects) allows me to minium surface changes subtly depend-
colour drawings on paper, which explored happening in her home country of Bang- “These are spaces of empathy,” she adds. push the boundaries,” she responds. ing on the angle of viewing. Consistent Anindo Sen is an independent art and
the extrapolated possibilities of geometric ladesh or conflicts elsewhere in the In Begum’s work, there are identifiable Repetitive patterns and mark-making with her adopted taxonomy, they are culture writer.
12 SATURDAY, 11 JANUARY 2025
NEW DELHI BUSINESS LOUNGE

Deep Bajaj
FOUNDER AND MENTOR The co-founder of Sirona Hygiene talks about his ₹450-crore exit from the company,
building the femtech category in India, and his plans for the future
Illustration by Priya Kuriyan
Mahalakshmi Prabhakaran

D
mahalakshmi.prabhakaran@htlive.com

eep Bajaj, 42, co-founder

of femtech brand Sirona
Hygiene, doesn’t make

Startups are my
new year resolutions.
“You prepare yourself at
the beginning of the year and then life
throws something unexpected at you,”
says Bajaj, laughing. If 2022 saw content-
to-commerce company Good Glamm
Group invest ₹100 crore in Sirona through
hobby and I am
currently focusing
primary and secondary investments, in
November last year, the company
acquired Sirona in an all-cash deal of ₹450
crore—one of the largest cash deals by an

on turning around
Indian femtech company. But what prob-
ably raised eyebrows was Bajaj and his
brother and co-founder, Mohit, choosing
to step down from the company.
“It was time for me to step back and let
Sirona soar,” says Bajaj over a video call
from Gurugram, where he is based.
underdog startups
with potential but
“When we did the deal with Good Glamm
two years ago, it was a path-to-acquisition
sort of a deal, but the reason I decided to
let them run the company is simple: we
had done what we could in the last decade
in terms of innovations for the brand.
We’d introduced a series of new products
that weren’t being made for Indian
limited resources.
women at the time—whether you talk
about a stand-and-pee device, natural
anti-chafing cream, organic period pain-
relief patches or sanitary disposable bags.
I felt I had played my part and now it was
time for better people to take it offline
(into stores).”
Three months after the acquisition,
Bajaj sounds relaxed and raring to go. For
a serial entrepreneur who’s always run his
own businesses since 2006, Bajaj has
taken a shine to a new informal role: of
being an angel investor and mentor to
up-and-coming startups in the country.
“Startups are my hobby and I am currently
focusing on turning around underdog

When Deep Bajaj and his

brother Mohit started
Sirona in 2014, the
femtech category
was pretty much
non-existent

startups with potential but limited resour-

ces,” he says, revealing that he has
invested in around 50 startups. Some of
the names he shares include copper kitch-
enware brand P-TAL, health gummies
brand What’s Up Wellness, last-mile wel-
fare delivery service Haqdarshak, outdoor
gear brand RoadGods, women’s footwear
brand Trase, and flower subscription
brand Bring My Flowers. “It starts with the
founder’s passion. A founder who is
deeply driven by their purpose is more
likely to persevere through challenges ,”
he says about what he looks for in a startup
when he’s deciding to back it. “Beyond
that, I evaluate whether the problem
they’re solving is meaningful, scalable,
and has a clear target audience. Clarity of
vision and their ability to adapt is also cru-
cial.” recalls the casual observation made by a chapter... for the time being. “I don’t think tralian National University. Even there, and since what works today may not work
A clear vision and an ability to adapt to female friend on a road trip to Jaipur in I’ll be dabbling in femtech anytime soon,” CEO who inspires you Bajaj chose to work, and went so far as to tomorrow, you’ve—at the risk of repeating
situations also underline how Bajaj, along 2013—of having seen a woman in Europe he confesses. This doesn’t mean he’s com- Ratan Tata, I loved his humility. shorten his two-year course to a one-year myself—got to be adaptable.”
with his brother, ran Sirona Hygiene and using a contraption to stand and pee. pletely washing his hands off it either. Master of Management programme. “I What keys him up further is India’s
made it one of the leading femtech brands “Everyone joked it off at the time but “The challenges around menstrual and Your indulgence held two jobs while I was doing my course. buzzing startup culture. Almost every
in the country. When they started the the thought stayed with me. I thought if I intimate hygiene are far from resolved. I’ll Sunglasses, I have 32 of them. I’d work in the afternoons for Hutchison, other youngster has dreams of running a
company in 2014, the femtech category could give my wife and mother a similar continue to raise awareness and support the mobile telecommunications com- unicorn company some day. A 2023
was pretty much non-existent. The main device, I’d solve their problem.” After tin- initiatives that bring meaningful change A dish you cook pany, and in the evenings, I’d work at an report by Nasscom in collaboration with
players in the feminine hygiene space at kering with ideas and designs for a year, to women’s lives,” he says. well Indian restaurant,” he reminisces. It paid Zinnov, published in Mint in February
the time were brands like Stayfree and Bajaj succeeded in creating a prototype of Bajaj may come across as a seasoned Spaghetti aglio e olio off. “I think I managed to pay back almost that year, had stated that India continues
Whisper from multi-national FMCG com- Pee Buddy, and even got a design patent entrepreneur, but as a kid growing up in 80% of the loan my father had taken to to be the third-largest tech startup ecosys-
panies. Besides sanitary pads, there was for it. “That was the beginning and one a middle-class family in Delhi, he barely send me to Australia,” he says. tem in the world after the US and China.
little else in the name of feminine care, thing led to another,” he says, admitting had any ambition. “You know, no one Returning to India in 2006, Bajaj Bajaj attributes “access to resources, men-
and topics like period-care, PMS and that he never expected the product to take ever asked me what I wanted to be when started an event management company torship, and funding” for this new wave of
menopause care were not part of the off as it did. Pee Buddy, as per the official I grew up, so I didn’t think too much called Thyme Advertising with a friend entrepreneurship. “What excites me is the
health discourse at all. website, has sold 5 million units till date. about it,” he laughs. That said, as the son and ran it from 2006-10. “We used to do sheer diversity of ideas—startups are solv-
In a field where there weren’t many Another product that did well were men- of a small businessman, there was a large concerts and corporate activations ing real-world problems, often with a
precedents—Gurugram-based Pee Safe strual cups, with about 2 million of them strong instinct to be financially inde- and we did fairly well, earning ₹8-10 unique local perspective,” he says. And as
was another startup that launched around being sold. The idea for launching them in pendent early on. “I started working crore every year,” says Bajaj. a partner to startups in the 0-1 phase, he is
the same time—Bajaj says the only way to India, Bajaj reveals, came from a cus- straight out of school,” he says. His first By 2010, the drive to do more left Bajaj happy being their voice of reason. “In my
establish a self-funded venture was to tomer. “I was distributing Pee Buddy at a job right after class XII, around 2001, for feeling restless and so, in 2011, he moved conversations with these young founders,
constantly innovate. The first innovation conference and this lady came up to me a salary of ₹6,000, was door-to-door sell- on from Thyme, now defunct, and joined I often find myself telling them to focus on
that came out of the Sirona stable was Pee and said, why do you not launch men- ing of courses by eLearning platform his wife, Rashi, to run her entrepreneur- customer feedback and have the patience
Buddy, a stand-and-pee device made for strual cups in India?” eGurukul.com. Then, during his gradua- ial venture Carpet Couture. “My wife was to play the long game...”
women, designed by Bajaj. The story of Sirona launched several other products tion years at Shaheed Bhagat Singh Col- starting her own business in handmade How does he plan to spend his free time
what led him to create it is part of Sirona’s across categories of toilet hygiene in the lege in Delhi, where he pursued a degree carpets, and since I had the time, I now that he is no longer actively running
lore today. next decade, focusing on period care, inti- in commerce, Bajaj landed his first and decided to join her and help establish the a company? “I have plans to do some writ-
“I had seen women in my family suffer mate care, personal safety and sexual well- only salaried job at Birla Sun Life Insur- business,” he says. What followed was ing,” he says. But on top of his list of priori-
owing to the lack of hygienic toilet facili- ness—the ideas for them coming off cus- ance. When juggling college and work Sirona Hygiene. “It has been a mad run ties is to relax a little and spend time with
ties, so I suppose you could say that I was tomer suggestions, focus groups and team became difficult, he prioritised the latter but I think I just made the best of what life his family.
on a quest to do something for them,” says discussions. The underlying vision that and chose to do a B.Com correspondence gave me at the time,” he says. “One of my biggest regrets is that I
Bajaj. His wife had gone through a miscar- guided them: to solve unaddressed inti- course. “I felt that I wasn’t doing much in Having run businesses all these years, didn’t get to spend enough time with my
riage because of a urinary tract infection mate, menstrual and toilet issues of college and there was this fire in me to it’s probably natural for Bajaj to feel daughters in the last eight years. I don’t
and he was appalled by the condition of women. make money,” he recalls. impassioned about supporting young know when my eldest turned 12. So, until
toilet facilities for women outside the Bajaj’s close involvement with the fem- The turning point during those early entrepreneurs. “The biggest learning for I figure out the next problem that will get
home. There’s another anecdote he cites tech business often sees him being years, he says, came when his father used me has been that businesses are built by me out of bed, I will be spending all of my
of his wife finding toilets on a business- described as “femtech pioneer of India”, his modest savings to send Bajaj to Austra- people, not just products. You’ve also got free time with my girls,” he says.
class flight woefully inadequate. Bajaj also but cutting to the present, it’s a closed lia for a two-year MBA course at the Aus- to surround yourself with the right team, Now that’s a good new year resolution.
LIVEMINT.COM NEWS SATURDAY, 11 JANUARY 2025
NEW DELHI 13

m MINT SHORTS
Vodafone exits Indus Towers,
Tata Capital
gearing up Why smart appliances have
sells shares worth ₹2,800 cr
New Delhi: British telecom firm Vodafone has sold its entire
stake in Indus Towers for ₹2,800 crore, the telecom infrastruc-
ture firm said on Friday. Vodafone has sold 79.2 million or 3%
for 1st dollar
bond sale
venture capitalists hooked
stake in Indus Towers and used ₹890 crore from the proceeds to
clear lenders dues, the company said in a regulatory filing. The Bloomberg
company held 3% stake through its indirect wholly-owned sub- feedback@livemint.com
sidiaries, Omega Telecom Holdings and Usha Martin. PTI Over the past 6-12 months, VC firms have backed about six startups with $1-4 million cheques
T
ata Capital Ltd is gearing
upforitsfirstdollarbond
Centre releases ₹1.73 trillion sale, according to people Samiksha Goel everydayproblems.BeyondAppliances,
familiarwiththematter,mark- for instance, launched just six months
to states in tax devolution ing another addition to the
samiksha.goel@livemint.com
BENGALURU agoandhasalreadyseenover1,200cus-

F
MINT
wave of offshore debt sales by tomers across major metros.
Indianshadowlendersoverthe or consumer brands, smart To be sure, the overall smart appli-
past year. appliances are the next big ance market in India is projected to
Thefinancialservicesunitof thing. And venture capitalists grow by 8.56% from 2024 to 2029,
the Tata Group, the conglom- are looking to seize the day by resulting in a market size of $4.6 billion
eratespanningindustriesfrom betting on new companies in2029,accordingtoresearchplatform
coffee to cars, is planning to making everything from smart chim- Statista.
issue a benchmark-sized note neys and hobs to artificial intelligence “Wehaveaggressivegrowthplansfor
with a 3.5-year maturity. The (AI)- powered cooking assistants and 2024-25, supported by our upcoming
proceeds are expected to be internet-of-things (IoT)- enabled prod- launch of eight new innovations and
usedforlendingandotherpur- ucts. Overthepastsixto12 months,they strategicexpansionintomorecities.We
poses, the people said, asking havebackedabouthalfadozenstartups, are looking to become a ₹100 crore
not to be identified. includingBeyondAppliances,Upliance, brand in two to three years,” Eshwar K.
New Delhi: The Centre on Friday released tax devolution The offering comes amid a and Karban, with $1-4 million early- Vikas,chiefexecutiveandco-founderof
of ₹1.73 trillion to the state governments to accelerate capi- surgeinoffshorebondandloan stage cheques. Beyond Appliances, told Mint.
tal expenditure and finance welfare activities.“A higher sales after the Reserve Bank of While Beyond Appliances and Upli- Beyond Appliances, Upliance, and Karban are among the startups that have Despitepeoplespendingtwotothree
amount is being devolved this month to enable states to India tightened rules in ance are automating cooking functions received funding support from venture capitalists. hours daily in their kitchens, these spa-
accelerate capital spending and finance their development November 2023, making it through AI, Karban leverages CFD ces have seen minimal technological
and welfare-related expenditures,” the finance ministry harder for shadow lenders to (computational fluid dynamics) tech- in2023,isgrowingrapidlyandhasseen lion funding round in Beyond Applian- innovation, according to Vikas. “Our
said in a statement. PTI tap funding from local banks. nology and aerospace engineering to itsrevenuefromoperationsrise31.5%to ces in November 2024. research shows that consumers, partic-
Shriram Finance Ltd last optimize the efficiency of airflow devi- ₹848 crore in 2023-24 from ₹645 crore “Theconsumerofkitchenappliances ularly in the 35-50 age group, are
month borrowed $1.28 billion ces such as fans and air purifiers. a year ago. ischangingrapidly,drivenbykeytrends actively seeking solutions that make
HUL incorporates new subsidiary in amulti-currency social loan, On2cook, Alste Technologies and Keus TheIndiankitchenappliancemarket such as the desire for convenience, the cooking more efficient and enjoyable,”
the biggest ever offshore facil- have also raised funding importance of safety, and he said, adding that the company has
Kwality Wall’s for ice cream biz ity by an Indian financier. to make kitchens smarter SMARTER KITCHENS the need for enjoyable identified several opportunities in the
New Delhi: Hindustan Unilever Ltd (HUL) on Friday said it has Investors have snapped up through technology. kitchen experiences. smart kitchen space and is developing
incorporated a new subsidiary Kwality Wall’s for the proposed the supply, drawn by relatively Consumer appliances BEYOND KARBAN leverages ON2COOK, Alste With a projected market AI-powered features and IoT integra-
demerger of the ice cream business of the company. Kwality attractive high yields and the brand Atomberg Tech- Appliances and
Upliance are
CFD technology to
optimize efficiency
Technologies, Keus
also raised funds to
size of $5.5 billion and a tion capabilities.
Wall’s (India) Ltd (KWIL) has been incorporated “for the purpose opportunity to diversify their nologies was one of the automating cooking of airflow devices make kitchens compounded annual These companies are leveraging the
of the proposed demerger of the company’s ice cream business, portfolios beyond high-yield- first new-age companies functions through AI such as fans smarter using tech growth rate (CAGR) of latest technologies to address the
which is currently under evaluation by the board of the com- ing Chinese debt. to tap into the segment. It 9.86% over the next five uniqueneedsandpreferencesofIndian
pany,” the FMCG major said in a regulatory filing. PTI BNP Paribas SA, HSBC raised $86 million in its years,thisspaceofferstre- consumers, helping their growth, said
Holdings Plc, Mitsubishi UFJ series C funding round led by Temasek is ripe for innovation, yet remains mendous potential,” Singh told Mint, Shivaraj Jayakumar, practice leader,
FinancialGroupInc.,Standard Holdings and Steadview Capital Man- largelyuntappedintermsofsmart,con- noting the smart kitchen space is at an consumer and internet at business con-
2024 exceeds 1.5°C threshold, Chartered Plc and JPMorgan agement in 2023. sumer-centric solutions, according to inflection point, with consumer sulting firm Praxis Global Alliance.
Chase & Co. are managing the The company, which launched a Vinay Singh, co-founder and partner, demand shifting towards intelligent, Foranextendedversionofthisstory,go
becomes hottest year, says C3S bond sale, the people said. series of IoT-enabled smart ceiling fans Fireside Ventures, which led a $2 mil- connected appliances that solve real, to Livemint.com.
AFP

Govt eyes new factory clusters Tiny bets soar amid Global
FROM PAGE 16
new wave of angels croreincludestheconstruction
occupiers
would benefit the most.
“Clustering can encourage
of a mega shipbuilding project
at Kandla Port in Kutch, Guj-
arat. Experts said new-age inves-
drive office
space
FROM PAGE 16
division of labour among firms A new cargo terminal is also tors form a consortium or a
with geographical proximity beingsetupoutsidetheKandla ups coming out with initial rolled-upentitytopoolfundsto

boom
The year 2024 was the hottest globally, marking the first among numerous competing creek at an investment of public offerings and buying be invested in startups. Plat-
time average global temperatures surpassed the 1.5°C producers, fostering innova- ₹27,000 crore, which will add back shares, which allow early forms such as Inflection Point
threshold above pre-industrial levels, said the Copernicus tion,”saidManoranjanSharma, an additional 135 million ton- investorstoexit,creatinganew Ventures facilitate such invest-
Climate Change Service (C3S) on Friday. The average chief economist at Infomerics nes per annum (mtpa) capacity generation of millionaires. ments by offering entry points
annual global temperature last year was 1.6°C higher than Ratingsandformerchiefecon- to the Kandla Port. “With companies such as as low as ₹100,000, which can FROM PAGE 16
pre-industrial times, it said. With this, 2024 has overtaken omist at Canara Bank. Similar plans are being con- SwiggyandZomatogoingpub- be further split into three indi-
2023 as the warmest year ever recorded. PUJA DAS “Identifiablelocations/prod- sidered around other major lic, significant wealth has been vidual cheques. India,whileGCC—theoffshore
uct clusters (are typically) ports in the country with a generated among the higher “Evenincaseswhereconsor- units of global companies—
developedbasedonthehistori- focus on manufacturing a wide ranks. The number of people tiums are formed, investments accounted for another 31% of
Indian Gas Exchange ties up with cal accumulation of skills and A cluster approach to array of products. who are investing in startups typically involve creating a for- the transactions.
the availability of a low-cost Mint reported on 8 January has increased,” said Prayank mal structure, such as an SPV Leasing by flexible space
Europe’s CEGH abundant resource endow-
manufacturing is expected to
benefit MSMEs most. BLOOMBERG thattheUniongovernmentwas Swaroop, a part- (special purpose providers,or co-working spa-
New Delhi: Indian Gas Exchange Ltd has signed a memorandum ment—e.g., handloom, carpet working on a blueprint for ner at Accel, The rise in angel vehicle) or a setup ces, jumped 52% year-on-year
of understanding with Central European Gas Hub AG (CEGH), weaving, coir, pottery, cane, Nadu, and Haldia port in West developing manufacturing known for early investing has also whereoneperson in 2024, while third-party IT
a gas hub operator, to explore collaborative opportunities in trad- bamboo, metal, leather,” Bengal. hubs in underdeveloped investments. been fuelled by leads and others services companies leased
ing of natural and renewable gases. A joint statement by the two Sharma said. InSeptember,Mintreported northern states, including by Over the past startups coming pool their money 7.9msfofofficespace,21%more
companies said that the partnership aims to strengthen India’s A finance ministry spokes- that the government was also incentivizing industrial areas. two years, the than in 2023, according to
out with IPOs and through them.
gas market by leveraging CEGH’s European market expertise and person didn’t respond to preparing to deploy a compre- India’stopfiveindustrialized strong perform- Promoters rarely Knight Frank.
IGX’s deep expertise in the Indian gas market. RITURAJ BARUAH emailed queries. hensive strategy to position states—Maharashtra, Gujarat, ance of the public buying back accept individual The CBRE report showed
Among sectors, industrial India among the world’s top Tamil Nadu, Karnataka and markets, with top shares cheques of that domestic companies
clusters along ports would be maritime powers. Under this Uttar Pradesh—contributed portfolios yield- ₹50,000 or accounted for 45% of the total
Deadline for GST return, payment developed as key manufactur- plan, the Centre will develop more than 54% of the total ing 25% annual- ₹ 1 0 0 , 0 0 0 office space absorption in
ing centres that will produce mega shipbuilding parks on manufacturing gross value izedreturnsandIPOsaddingto directly,” said Equentis’ Goel. 2024, followed by companies
extended after technical glitch various goods apart from ship- both sides of the Indian coast. added (GVA) of the country in the momentum, drew capital However, experts said small- from the Americas at 34%,
New Delhi: The government on Friday extended the deadline building factories. The shipbuilding initiative 2022-23. awayfromstartupinvestments. ticket cheques are risky and EMEA (Europe, Middle East
for filing monthly GST sales return form GSTR-1 and GST pay- Some of the new manufac- will involve developing indus- Existing manufacturing “Now, with public markets mayleadtoover-diversification and Africa) at 16%, and A-Pac
ment by two days after taxpayers reported technical glitches in turing clusters proposed are trialcorridorsonportsandcre- clustersacrossstatescoversec- starting to cool off, that capital for first-time investors. They (Asia-Pacific) at 5%.
the GSTN system. As per a notification by the Central Board of near ports on the eastern and ate grounds for developing tors ranging from automobiles is once again seeking new ave- also create operational challen- GCCs leased 29.4msf of
Indirect Taxes and Customs (CBIC), the last date for filing GSTR-1 western coasts, such as Kandla other manufacturing facilities andtextilestopharmaceuticals nues, fuelling angel cheques,” gesforstartups,whichareoften office space in India in 2024,
for December is 13 January, while that for taxpayers opting for and Deendayal port in Gujarat, as these areas would also have and electronics. said Syna Dehnugara, who ill-equippedtomanagenumer- accountingforabout37%ofthe
quarterly payment under the QRMP (quarterly returns with the Jawaharlal Nehru–Vadha- multimodal connectivity. rhik.kundu@livemint.com leadstheprivatemarketexpan- ous small shareholders. overall leasing activity across
monthly payment) scheme for the October-December period will van port cluster in Maharash- Onesuchinitiativeinvolving For an extended version of sionforfamilyofficesatTrica,a For an extended version of India’s top nine cities, a 29%
be 15 January. PTI tra, Kamarajar port in Tamil an investment of ₹30,000 this story, go to Livemint.com. Let’sVenture platform. this story, go to Livemint.com. year-on-year growth.
Globalcompanieshavebeen
actively expanding their GCC
operationsinIndiabycapitaliz-

AI chip curbs trigger rare public fight: Tech giants vs China hawks ingonthecountry’stalentpool
and favourable business cli-
mate, the CBRE report said.
ThissurgeinGCCinterestmay
FROM PAGE 16 nese market that were modi- That, they said, would give deputynationalsecurityadviser administration to coordinate persist in 2025, with new
fied so they didn’t require a the Chinese industry the foot- from2019to2021.“Exportcon- on AI and China export con- entrants looking to set up cen-
training of AI algorithms. U.S. export license. A year hold it needs to catch up and trolsareoneareawhereBiden’s trols. Raimondo, however, has tres in India, the report added.
Both sides in the current later, the U.S. updated its con- dominate the AI business glo- team expanded on Trump’s spoken to Trump’s nominee to Companies from sectors
dispute agree the rules were a trols, and Nvidia updated its bally, replicating Chinese original work, and Trump can succeed her, Howard Lutnick including technology, engi-
milestone in American policy China chips so they would companies’ lead in high-tech expandonitagaintowintheAI . A Commerce spokesman neering, manufacturing, and
and have at least hindered again avoid the export ban. areas such as electric vehicles race,”saidPottinger,nowhead didn’t immediately respond to BFSI are expected to drive
China’s AI ambitions by mak- Such moves drew the wrath and solar panels. of Asia-focused research firm a request for comment. demand for both traditional
ing it hard for Chinese entities of U.S. officials, who felt that Lawmakers and former Garnaut Global. Trump’s personnel picks, and flexible office spaces for
to buy the most advanced Nvidiawasn’taligningitselfwith White House staffers under The Biden administration including incoming national their GCCs, with continued
chips from AI leader Nvidia thespiritofthelaw,accordingto bothTrumpandBidensaythat has indicated that it wants to security adviser Michael Waltz demand from niche sectors
and others. peoplefamiliarwiththematter. any time advanced American hear industry views on the , are known for their tough such as automobile, semicon-
The hawks say the rules Nvidia says the company com- AI technology is sold abroad, it coming rules but that ulti- views on China. Jacob Helberg ductors, and life sciences,
have been well-intentioned, plieswithallapplicableexport- could end up in China’s hands mately national security , Trump’s choice as the State CBRE said.
but left backdoor routes for control laws and requires its The hawks say the chip curbs have been well-intentioned, but and needs to be regulated for comes first. Department’s top economic Bengaluru dominated the
China to access U.S. technol- customers to do the same. left backdoor routes for China to access US technology. AFP that reason, just as the U.S. Trump hasn’t recently policy and trade official, is a office space absorption in
ogy. Some say U.S. officials In December 2023, Com- wouldn’tallowanAmericanjet detailed his position on export founder of a consortium of 2024, accounting for over 28%
moved so slowly that Beijing merce Secretary Gina Rai- openly fighting back against Amazon and other large com- fighter sold to Saudi Arabia to controls,butinhisfirsttermhe tech investors and lawmakers share, followed by Hyderabad
was able to stockpile much of mondo expressed frustration policymakers. panies, accused the adminis- be resold to China. blocked Chinese telecommu- concerned about the rise of with 16% and Mumbai with a
the banned technology. at dealing with what she A “last-minute rule restrict- tration of failing to consult On Jan. 2, the House Select nications equipment leader China. “The American people 15% share, according to the
Many tech companies coun- described as industry resist- ingexportstomostoftheworld companies. Committee on the Chinese Huawei and other Chinese elected President Trump to CBRE report.
ter that the regulations so far ance to export controls. would be a major shift in policy Industry officials say if U.S. Communist Party said China civilian tech companies from stand up to China, enforce tar- In terms of gross leasing
risk hobbling America’s indus- “They’re in the business of that would not reduce the risk companies had to go through “uses illicit methods and loop- accessing U.S. technology. iffs on Chinese goods, and value, Bengaluru’s share was
try leadership. making money. Every time I of misuse but would threaten red tape in Washington every holes” to access U.S. technol- The Trump transition team Make America Strong Again. 29% at 25.93msf, followed by
Even before the public clash take an action, it denies them economic growth and U.S. time they tried to sell an ogy in third countries and “we has yet to reach out to Alan He will deliver,” said Karoline Mumbai at 20% (17.84msf) and
this week, tensions had bub- revenue,” Raimondo said. “We leadership,” Nvidia said. advanced chip or server over- strongly believe the United Estevez , the top Commerce Leavitt , a spokeswoman for Delhi-National Capital Region
bled beneath the surface. have to be eyes wide open The Information Technol- seas, customers would get fed States needs a global answer.” Department official, to discuss the incoming administration, at 15% (13.14msf), the Cushman
Weeks after the first round of about the threat from China ogy Industry Council, a Wash- up and opt for more stable and “In the AI competition, a few export controls, U.S. officials in an email. and Wakefield report said.
U.S. export controls, Nvidia and work together.” ington-based group that rep- reliable Chinese alternatives, yearsisalifetime,”saidMattPot- say. That leaves less than two ©2025 DOW JONES & COMPANY, For an extended version of
released new chips for the Chi- Now tech companies are resents Google, Microsoft , even if inferior. tinger , who served as Trump’s weeks for the incoming INC. this story, go to Livemint.com.
14 SATURDAY, 11 JANUARY 2025
NEW DELHI NEWS LIVEMINT.COM

Trump gets no jail

time or probation
Industrial output surges to a Rupee hits
new record
in hush money case 6-month high of 5.2% in Nov low, slips to
85.97/USD
Bloomberg
feedback@livemint.com Reuters
feedback@livemint.com

D
onald Trump, the first Despite the Nov rebound, industrial output growth for the Apr-Nov period stood at 4.1% MUMBAI
former US president

T
convicted of a felony, he rupee slipped to its
was sentenced by a New York Rhik Kundu & Nikita Prasad all-time low on Friday as
judge Friday to no jail for his NEW DELHI
Sharp recovery the dollar stood firm

I
Strong gains in the manufacturing
hush money case, setting him sector drove the growth in
ahead of closely watched US
up to return to the White ndia’s industrial output surged to industrial output. labour market data, keeping
Housethismonthwithacrimi- a six-month high of 5.2% annually Year-on-year growth in industrial output (in %)
regional currencies on the
nal record. in November, driven by strong defensive.
7
JusticeJuanMerchanonFri- gains in the manufacturing sector. The rupee weakened to
day gave Trump a so-called US President-elect Manufacturing output rose 6
85.97 against the dollar, inch-
unconditional discharge at a Donald Trump. AFP 5.8% in November, while electricity 5.2*
.2 ing past its previous record low
hearing attended virtually by generation and mining activity grew 5 of 85.9325 hit on Thursday.
the president-elect. The sen- In the hearing Friday, which by 4.4% and 1.9%, respectively, The currency ended at
tence means Trump emerges lasted about 40 minutes, according to the latest data released by 4 85.9650, down 0.2% on the
from the case without any pro- Trump spoke virtually for sev- the ministry of statistics and pro- week and logged its tenth con-
3
bation, fine, or continued eral minutes, reprising his gramme implementation (MoSPI) on secutive weekly loss.
responsibilitytothecourt,after familiar complaints about Dis- Friday. 2.5
2 The local unit has faced per-
2
beingfoundguiltyon34felony trict Attorney Alvin Bragg, the During October, manufacturing sistent headwinds over recent
counts. decision to prosecute him, and expanded by 4.4%, electricity genera- 1 weeks on the back of a surging
The judge read the sentence what he describes as the weak- tion by 2%, and mining activity by dollar and weak capital flows.
inapackedcourtroominlower nesses of the case. 0.9%. 0 However, routine interven-
Manhattan, just 10 days before “Thishasbeenaveryterrible Economists polled by Reuters had tions by the Reserve Bank of
Trump is set to be sworn in as experience,” Trump said, expected industrial output to register -1
Nov 2023 Nov 2024
India have helped limit losses.
the 47th US president. It caps appearing by video from Mar- a growth of 4.1% in November. The annual slowdown underscores the challenges the industrial sector faces in *Provisional Source: MoSPI
State-run banks were spot-
off a week of rapid-fire legal a-Lago and seated at a table in Despite the November rebound, sustaining momentum. AFP ted offering dollars on Friday
SATISH KUMAR/MINT
challenges by his lawyers, who front of two large American industrial output growth for the April- as well, most likely on behalf of
sought to delay flags. Trump November period stood at 4.1%, lower will help boost the GDP (gross domes- the month, against a contraction of which was at 5.2% in April this fiscal, the RBI, three traders told
the hearing, Trump emerges defended his than the revised 6.5% growth recorded tic product) growth number for the 4.5% in the year-ago period. maintained its momentum and staged Reuters.
including a failed from the case actions around during the same period last year. year where manufacturing sector “Given the base effects related to growth every month, except for The rupee’s fall below the
last-ditchattempt without any the business The uptick in industrial activity growth has been subdued at 5.3%. the shifting festive dates, average August, when it contracted, and has psychologically important 86
to get the US probation, fine, or records at the could provide a boost to India’s eco- Cumulative growth has been 4.1%, and growth over October-November tends seen a rebound since then on the back level is likely “sooner rather
SupremeCourtto center of the case, nomic outlook, particularly as global if this tempo is maintained, growth to provide a better gauge of the under- of festival demand for manufactured than later,” a trader at a foreign
continued
block it. The saying he prop- economic uncertainties persist. can end between 5.0-5.5% for the lying momentum. By this yardstick, items and electricity generation. bank said.
hush-money trial responsibility to erlyaccountedfor However, the annual slowdown year,” he added. overall industrial growth was modest According to the first advance esti- The dollar index held north
centered around the court them as legal fees underscores the challenges the India’s GDP growth in the at 4.4%, driven by consumer mate data released earlier this of the 109-handle, hovering
Trumpapproving or expenses. industrial sector faces in September quarter fell to durables (9.2%) and infra/ week, India’s GDP growth is close to a two-year peak ahead
a $130,000 pay- T h e j ud ge sustaining momentum. 5.4%, the slowest in nearly construction goods (7.3%), expected to slow to 6.4% of US non-farm payrolls data.
ment to an adult-film star dur- spoke for several minutes
ing the 2016 presidential cam- before imposing no punish-
The manufacturing
sector has performed
The growth in
5.8%
two years. with a distinctly lacklus-
During this period, tre performance of pri-
The increase in
for FY25, registering the
slowest pace of growth 4.4% The data will influence expec-
tations of the pace and depth
paign to keep her from going mentonTrump,sayingitwasa strongly, growing by private consumption mary goods (2.6%) and in four years since the of rate cuts by the US Federal
public with allegations that “unique and remarkable” case. 5.8% compared to 1.3% manufacturing growth moderated, consumer non-durables electricity covid pandemic hit, Reserve this year.
they had an affair a decade ago. Merchan described the case last year, driven by a low output in Nov. while manufacturing and (1.5%),” said Aditi Nayar, generation in Nov. when GDP growth con- “We think the balance of
Trump has stepped up his as “unprecedented” and said base effect and a revival in construction also saw a chief economist and tracted 5.8% (in FY21). risks is tilted to the upside for
fight since his November elec- that the court had never been capital goods and consumer slowdown. head—research & outreach India’s GDP growth has the dollar today, as robust jobs
tionvictorytoerasetheconvic- presented with “such a unique durable goods, said Madan Sab- Meanwhile, capital goods pro- at Icra Ltd. struggled this year chiefly figures could prompt markets
tion, and is expected to seek to setofcircumstances”involving navis, chief economist at Bank of Bar- duction, a proxy for fixed investments “Icra expects the IIP growth to mod- because of persistent inflation, weak to price out a March cut and
overturn his verdict through a case of a former and future oda. in the economy, grew 9% in Novem- erate to ~3-5% in December 2024 urban consumption, disappointing potentially push the first fully-
the appeals process. The case president. “Quite clearly the needle appears to ber, against a 1.1% contraction in the (+4.4% in December 2023) from 5.2% private sector investments, sluggish priced move beyond June,”
could return to the US He said that if Trump was an have turned during the festival season, year-ago period. in November 2024 (+2.5% in Novem- manufacturing activity, and lower ING Bank said in a note.
SupremeCourtforfinalresolu- ordinary defendant the sen- which is a good sign,” he said. Alongside, consumer durables pro- ber 2023), partly on account of an government spending during Q1 due Expectations around the
tion after New York’s appellate tencing likely could have been “We need to see if this can be sus- duction, which highlights consumer unfavourable base,” Nayar said. to elections. incoming US President’s poli-
courts rule. different. tained in the coming months as this sentiment, grew 13.1% annually during The industrial output growth rate, rhik.kundu@livemint.com cies have boosted the dollar.

Vedanta gets ‘Reits, Invits, Muni bonds could surpass equity, debt’ Sebi may help FPIs
$300 mn
in loans to
Neha Joshi
neha.joshi@livemint.com
Buch faced from Hindenburg Equity, however, represents
Research was that she imple- only a part of the total capital
get a taste for gilts
refinance debt MUMBAI mented a raft of legislation raised. “In FY25, capital for-
around Reits that have bene- mation reached ₹10.7 trillion, Neha Joshi lot of things including investor

F
undraises through real fited Blackstone, where her with ₹7.3 trillion coming from neha.joshi@livemint.com group (are you holding too
PTI estate and infrastructure husband was a senior partner. the primary debt market, a MUMBAI much of one particular secu-
feedback@livemint.com investment trusts, along Buch, who spoke for the first sector that is sometimes rity) all that data will not be

I
NEW DELHI with municipal bonds, could time in public since the series underreported.” She said by ndia's capital markets regu- sought if (it's) the government
surpass capital mobilized of accusations, has denied any year-end, the total capital lator is set to ease the regis- of India only bond.”

V
edanta Resources—the through equities and debt over wrongdoing. raised—combin- tration of foreign portfolio Meanwhile,inaconsultation
parent firm of Mumbai- the next decade, India’s mar- In her speech, In the last nine ing both equity investors (FPIs) if they want to paper released on Friday, Sebi
basedminingconglom- ket regulator’s chair Madhabi Buch also high- months, ₹3.3 tn and debt—could invest in government-backed said the proposal to enhance
erate Vedanta Ltd—on Friday Puri Buch said on Friday in her lighted the mar- has been raised in exceed ₹14 tril- securities, even as it proposed the investment threshold for
saidithassecured$300million first public appearance in ket regulator’s equity, and it is lion. doublingtheequityinvestment granulardetailsisonaccountof
inloansfromaclutchofleading about three months. Madhabi Puri Buch, chairperson, Sebi said Reits and Invits could significant role in “The bond threshold set for granular dis- rise in daily market volumes.
expected to reach
global banks such as Barclays “The growth is so substan- see their capital double over the next decade. PTI capital formation. market accounts closures by FPIs to ₹50,000 The proposal, part of an
and First Abu Dhabi Bank tial that it could exceed the “For the last a total of ₹4.3 tn for almost ₹60 for crore. update to Sebi’s August 2023
for refinancing its 2024 and capital pumped in from equity see their capital double over trusts or Reits are mutual nine months, ₹3.3 by year-end every ₹100 lent TheSecuritiesandExchange circular, suggests raising the
2026 bonds. and debt markets,” said Buch, the next decade,” she said. fund-like listed instruments trillion has been by the banking Board of India’s thresholdforFPIs
The proceeds will be used to chairperson of the Securities The opportunity could be that pool in income-yielding raised in equity, system to corpo- (Sebi) whole time For FPIs investing t o disclose
refinance outstanding 2024 and Exchange Board of India realized through investments real estate assets, allowing and with another quarter to rate India. It plays a vital role in member Ananth only in govt funds, detailed informa-
and 2026 bonds and meet (Sebi), referring to the ₹3.3 tril- from both retail and institu- investors to take exposure. go, we anticipate a total of ₹4.3 capital formation,” she Narayan G. said Sebi would only tion about their
other debt-servicing obliga- lion raised through equity and tional investors, facilitated by Similarly, infrastructure trillion by year-end,” Buch explained. While the bond on Friday that for ask for data which investors and
tions, Vedanta Resources said ₹7.3 trillion via debt in the last robust investment vehicles investment trusts or Invits said. She pointed out that pref- market may not see as much FPIs seeking to
other authorities stakeholders on a
in an exchange filing. financial year. such as mutual funds, Buch allow investors to bet on infra- erential issues and qualified secondary market trading due invest in govern- "look-through"
“Vedanta Resources Ltd has “If we leverage the assets we said at National Institute of structure assets. In FY24, institutional placements to a predominance of buy-and- ment-oriented require for basis, from
received commitments from have in this country—both Securities Markets’ (NISM) investors raised ₹40,000 (QIPs) often go unnoticed but hold investors, it remains a funds, the regula- registration ₹25,000 crore to
Barclays,FirstAbuDhabiBank, existing and those yet to be Samvad symposium. crore through Invits/Reits. are crucial in the overall capi- crucial component of India’s tor will be intro- ₹50,000 crore in
and Mashreq totalling $300 built—Reits and Invits could Real estate investment Among the allegations that tal-raising process. financial ecosystem, she said. ducing a provi- equity assets
millionfora3.25-yeardoor-to- sion, where FPIs will not have under management (AUM).
doortenorloan,”thefilingsaid. to provide Sebi-oriented data. Thischangeaimstoenhance
The company is looking to Speaking at an event, he market transparency and pre-
upsize the deal and is in
advanced discussion with
other banks for additional
Infy says exec stalled suite before Cognizant switch elaborated that for FPIs invest- vent potential circumvention
ing only in government funds, of regulations such as Press
Sebi would only ask for data Note 3 (PN3) and minimum
$200 million. whichotherauthoritieslikethe public shareholding (MPS)
The firm further said this FROM PAGE 16 “To date, Infosys has lars in lost sales and increased ware market and the related IT the US to process claims. ReserveBankofIndiaandCen- norms, especially as market
loanarrangementincreasesthe invested significant funds and costs due to Cognizant’s anti- services market for that soft- Both Infosys and Cognizant tral Board of Direct Taxes volumes have surged.
group’s liquidity position, was then a president at Infosys resources to build Infosys competitive conduct”. ware,” read Infosys’s counter- have been servicing clients in requireforregistration.“There For an extended version of
backed by strong credit and played a critical role in its Helix, but the product and Infosys saidCognizantisnot claimfiledbyBrentCaslin,rep- the healthcare sector using the will be zero requirements for a this story, go to livemint.com
improvements due to signifi- development, the complaint business were delayed by at allowing business resenting the two software products.
cant deleveraging achieved said. least a year and a half due to to flourish from Infosys accused companythrough The Bengaluru-headquar- CORRECTIONS AND CLARIFICATIONS
through robust business per- “But Kumar’s optimism and decisionsmadebyKumar,with the healthcare Cognizant of six Chicago-based tered information technology
formance and strategic initia- excitement for the Infosys the help of (Shveta) Arora and segment because counts of not just law firm Jenner & (IT) services company accused Mint welcomes comments, suggestions or complaints about errors.
tives. The company expects to Helix product suddenly (RaviKiran)Kuchibhotla,while of its alleged hurting potential Block LLP. Cognizant of six counts of not
signtheloanagreementwithin changed in Spring 2022. He they were plotting their move monopoly in the Cognizant just hurting potential revenue Readers can alert the newsroom to any errors in the paper by
revenue but also emailing us, with your full name and address to
the next few days. began to pull back support of to Cognizant,” said the com- claims processing acquired QNXT butalso establishing anti-com-
business in the anti-competitive andFacetsin2014
feedback@livemint.com.
UK-based Vedanta Resour- Infosys Helix, declining pany in its complaint. petitive practices. It alleged
ceshadearlierraised$800mil- requests for needed resources, Arora is SVP, global head of US. practices by taking over Cognizant indulged in anti- It is our policy to promptly respond to all complaints. Readers
lion from global investors which delayed the completion consulting at Cognizant, while “This is an anti- TriZetto, which competitive practices by limit- dissatisfied with the response or concerned about Mint’s journalistic
through a new bond issue. ... by at least 18 months,” read Kuchibhotla is chief strategy trust case about providesadminis- ing training of executives who integrity may write directly to the editor by sending an email to
The company had said pro- Infosys’s counterclaim. officer at the company. Cognizant’s anticompetitive trative solutions in the health- were to service clients using asktheeditor@livemint.com
ceedswillbeusedtoprepaythe It accused Cognizant of Infosys, which reported scheme to achieve, maintain, care space. Facets and QNXT software.
Mint’s journalistic Code of Conduct that governs our newsroom is
company’s outstanding debt poachingtalentcriticaltoHelix $18.6 billion revenue last fiscal, and enhance its dominance in These products are used by For an extended version of available at www.livemint.com
due in 2028. andhinderingitsdevelopment. said it “suffered millions of dol- both the healthcare payor soft- health insurancecompanies in this story, go to Livemint.com.

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LIVEMINT.COM NEWS SATURDAY, 11 JANUARY 2025
NEW DELHI 15

SC stays tax notices of ‘India to betestbed for green technology’ Rituraj Baruah

₹1.5 tn to e-gaming cos

them first in the country.
rituraj.baruah@livemint.com “If you work anywhere, let’s
NEW DELHI say in the US, to develop a soft-
ware, in the end you actually

T
he Global Energy Alli- are going to India. So, we come
ance for People and right to the source, and we are
Planet (GEAPP) plans to doing this at a fraction, like
use India as a testbed for new 20-30%, of the cost of other
decarbonization technologies places...,” he said.
The gaming companies and the revenue department both sought the stay that would then be commer- He said that developing
cially operationalized in other nations like India and Brazil
developing countries. willtaketheleadinimplement-
Krishna Yadav “We can use India as a test- ing measures to mitigate cli-
krishna.yadav@livemint.com bed where we can actually try mate change and rich nations
NEW DELHI innovativeapproachestosolve should be more generous in

T
climate problems and then Woochong Um, chief executive, Global Energy Alliance for financing and tech transfer.
heSupremeCourt(SC)onFriday through that process, we People and Planet. “Inthefuture,theleadership
stayed all tax notices issued by expecttogainsolutionsthatare will come from India, Brazil,
the revenue department to actually workable in the devel- cal uncertainty, India will be India—you have tremendous South Africa and the develop-
online gaming companies, esti- oping world,” Woochong Um, among the global leaders in capital, human capital with ing world, where it’s beneficial
mated at more than ₹1.5 trillion, CEO of the organization, told sustainability,alongwithBrazil skills and expertise and abun- to the country’s growth by tak-
onpleasbybothparties,andscheduledthe Mint in an interview. andSouthAfrica.Acknowledg- dance and a relatively young ing on the responsibility. What
next hearing on the matter for 18 March. He said GEAPP is working ingconcernsovernationsmov- population. We at GEAPP are the developed world needs to
Thegamingcompaniesandtherevenue on digitization of a transmis- ing away from their green tar- looking at bringing in global do is they need to step up to
department had sought the stay, with the siongrid in Rajasthan, using AI gets, he said the emphasis and knowledge, global experience, provide more concessional
revenuedepartmentseekingtopreventthe tooptimizeitsfunctioning, and progress on sustainability will global financing—public and resources to make it easier for
expiryofseveralnoticesbythefirstweekof provide better services. Once continue and developing private—here,” he said. some of the new technologies
February. theprojectiscomplete,GEAPP nations would take the lead. HesaidIndia’sstrengthinIT tobeflowingintosomeofthese
The bench ofjustices J.B.Pardiwala and plans to showcase it at the UN “The world will pursue this and AI, along with cheaper developing countries,” he said.
R.Mahadevangrantedthestayintheinter- Climate Conference (COP 30) green growth because that’s labour costs, plays a major role Of $470 million that GEAPP
est of all parties after the revenue depart- in Brazil in November 2025. wheretheopportunitieswillbe inbringinginnewcleanenergy has deployed globally, about
ment expressed concern that delaying Um saidthat amidgeopoliti- and especially in countries like solutions and implementing $100millionwasspentinIndia.
action on the notices could make them
time-barred, preventing the government The next hearing on the matter is on 18 March. PTI
from collecting the tax demanded.
Under the law, failure to act on show- Head Digital Works, Play Games 24x7, after which we will see investments,
causenoticeswithinaspecifiedtimeframe BaaziNetworks,andtheE-GamingFeder- employment,andvaluationsinthegaming
renders them void. For example, notices ation(EGF) filed 51 writ petitions in the SC, sector grow to its full potential.”
Adani sells ₹4,850-cr Adani Wilmar shares
issued by the Directorate General of GST challenging the GST levy. In August 2023, the GST Council
Intelligence to online gaming companies N. Venkataraman, additional solicitor amended the law to impose a 28% tax on PTI non-retail investors) and on 13 Thetransactionsawmassive stock exchanges of our inten-
related to FY18 will expire on 4 February general representing the revenue depart- the “full face value” of bets or entry feedback@livemint.com January (to retail investors) at a demand from a diverse set of tion to exercise the oversub-
2025, making them invalid. SC's stay now ment,toldthecourttheamountdemanded amountsinonlinegames,withthenewrate NEW DELHI floororminimumpriceof₹275 marquee international and scription option in the offer to
extends the deadline for action until the fromthegamingcompanieswasmorethan effective October 2023. Online gaming apiece.The offer for sale (OFS) domestic investors with over the extent of 1.96 crore equity

A
court rules on the matter. firms argued that the 28% tax dani Group on Friday includedanoptiontoaddition- 100 investors participating in shares (representing 1.51% of
“The Supreme Court’s stay RELIEF, FOR NOW shouldapplyonlyfrom1Octo- raised ₹4,850 crore ally sell up to 8.44 the transaction, the total issued and paid-up
provides much-needed relief ber 2023, and not from FY18. from the sale of 13.5% of crore shares, or The transaction one of the largest equitysharecapitalofthecom-
to gaming companies by pro- FAILURE to act on DELAYING action GAMING firms and However, the government its stake in Fortune oil maker 6.50% equity. saw massive OFS in recent pany) in addition to 17.54 crore
tecting them from coercive show-cause notices
within a specified
on the notices could
make them time-
E-Gaming Federation contended that the revision
filed 51 writ petitions
Adani Wilmar as part of a strat- Adani Com- demand from a times in the equity shares (representing
recovery actions and address- timeframe renders barred, the revenue in the SC, challenging clarified an existing law, mak- egytoexitnon-coreactivitiesto modities LLP, a diverse set of Indian capital 13.50% of the total issued and
ing concerns over the impact them void department said the GST levy ingthetaxdemandnon-retro- focus on main infrastructure subsidiary of markets. paid-up equity share capital of
marquee int’l
of aggressive tax demands on spective. GST is charged at business. AdaniEnterprises The transac- the company) forming part of
their operations,” said 28% on total value of bets The conglomerate, which Ltd, completed and domestic tion was com- the base offer size,” the group
AbhishekA.Rastogi,thelawyerrepresent- ₹1.5 trillion. Anuraag Saxena, CEO of EGF, placed, rather than on gross gaming reve- last month announced its exit the offer for sale investors pleted success- said in a filing.
ing the gaming firms. “At the same time, it said,“Wewelcomethereliefgrantedbythe nue for both skill-based and chance-based from Adani Wilmar by selling (OFS) for 13.5% fully despite a Accordingly, the aggregate
safeguards the interests of the revenue SC.Thisisawin-winbothforgamingoper- games.Previously,thetaxwasleviedonthe the bulk of its stake to a joint stake in Adani verydifficultmar- number of offer shares will be
[department]byensuringthedemandsdo ators who were facing coercive action, and GGR, at a rate of 28% for games of chance venturepartner,hadonThurs- Wilmar to non-retail investors ket backdrop—the Sensex fell up to 19.50 crore (15.01%) of
not become time-barred during litigation, thegovernmentwhosetimelinesmaynow and 18% for games of skill. day announced sale of 17.54 on Friday, according to infor- 0.3% while NIFTY MIDCAP which, up to 1.95 crore (1.50%)
preserving the scope for legal clarity.” be extended. We are confident about a fair For an extended version of this story, go to crore shares (13.50% equity) in mation available from stock 100 fell 2.1% on Friday. wouldbeavailableaspartofthe
Gaming firms including Games 24x7, and progressive resolution to this issue, livemint.com the company on January 10 (to exchange filings. “We wish to intimate the offer on 13 January, it added.

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 NEW DELHI, MUMBAI, BENGALURU, KOLKATA, CHENNAI, AHMEDABAD, HYDERABAD, CHANDIGARH*, PUNE*, LUCKNOW* VOL. 19 NO. 10 Rs. 10.00 . Price with Hindustan Times Rs. 15.50 16 PAGES

Saturday, January 11, 2025

Reits, InvITs may

y beat equity,
y Whyy smart appliances have
livemint.com debt in a decade: Buch uP14 VCs hooked uP13

SENSEX 77,378.94 241.27 NIFTY 23,431.50 95.00 DOLLAR ₹85.97 ₹0.11 EURO ₹88.56 ₹0.06 OIL $80.08 $1.93 POUND ₹105.77 ₹0.31

Govt plans new clusters Infy says top exec

stalled suite before
DON’T MISS
MINT

to fire up manufacturing joining Cognizant

Tax sops, roadmap to build factories along infrastructure projects likely in budget Jas Bardia
jas.bardia@livemint.com
BENGALURU Industrial output growth surges
Rhik Kundu & Subhash Narayan to six-month high of 5.2% in Nov
ENGINE OVERHAUL in the budget for 2025-26.

I
NEW DELHI “Thegovernmentislookinginto nfosysLtdhasallegedthatits India’s industrial output surged at a six-

T
measures (from a policy perspec- former executive S Ravi month high of 5.2% annually in November,
he Union government is tive) to help expand and deepen Kumar deliberately delayed driven by strong gains in the manufacturing
looking to fire up manu- domestic production, reduce reli- the rollout of its product rival- sector. Manufacturing output rose 5.8% in
facturingactivity—acru- ance on imports, and promote ling Cognizant Technology November, according to the latest
cial engine of economic value addition in sectors currently Solutions Corp’s healthcare government data released on Friday. >P14
growth that has signifi- dominated by assembling software as he was in talks to
cantlyslowed—byannouncingfac- imported components, aligning joinasthechiefexecutiveofthe
toryclustersnearmajorinfrastruc- with the broader push to Nasdaq-listed firm. SC stays ₹1.5 trillion tax notices
tureprojectsandchangestotaxand strengthen India’s manufacturing Infosys Ltd filed a complaint to online gaming companies
customs duties in the upcoming ecosystem,” this official said. in a US court on Thursday, S. Ravi Kumar, CEO, Cognizant The Supreme Court on Friday stayed all tax
budget. Reviving manufacturing activ- claiming that Kumar delayed Technology. JEFF WEINER notices issued by the revenue department
Two officials familiar with the ity—whichfelltoa12-monthlowin Helix, Infosys’s healthcare to online gaming companies, estimated at
government’s thinking said the December—is crucial to revitaliz- claims processing software, by upholding the highest stan- more than ₹1.5 trillion, on pleas by both
manufacturingclusterswouldstra- ing India’s economic growth. The 18monthswhenhewasnegoti- dardsofintegrityinallbusiness parties, and scheduled the next hearing on
tegically align with key infrastruc- government expects India’s GDP ating a switch to Cognizant. operations and will take deci- the matter on 18 March. >P15
ture projects in logistics sectors growth to decelerate to 6.4% in Kumar quit Infosys in October sive action to address any alle-
such as roads, railways and ports, FY25—the slowest in four years— 2022 and took over as its rival’s gations that compromise com-
generating significant employ- fromFY24’sblisteringpaceof8.2%. CEO in January 2023. petitive standing,” said the Rupee falls for 10th straight
The production-linked incen- The claim by Infosys in a fil- company in an emailed week, nears 86 to a dollar
MEGA MAKEOVER tive (PLI) scheme—one of the gov- ing dated 9 January—and response to Mint’s queries. The rupee slipped to its all-time low on Friday,
CLUSTERS aim to SUCH value chains EASING procedural ernment’s key initiatives to boost reviewed by Mint—is a rare “Cognizant encourages falling for the tenth straight week, as the
create seamless could to draw local, hurdles, rectifying tax domestic manufacturing apart instance of a case being filed competition, but competitors dollar stood firm ahead of closely watched
value chains foreign investment issues also on anvil from Make in India—faces a slow- against its former employee. cannot use Cognizant’s IP to US labour market data. The Indian currency
down, with companies struggling The counter-complaint unfairlycompete,asInfosyshas slipped to 85.97/$, inching past its previous
tomeetproductiontargetsthatwill stretches the legal battle done. Cognizant’s software record low of 85.93 hit on Thursday. >P14
ment. These hubs are meant to the first advance estimate released “By aligning manufacturing entitlethemtoreceivethebenefits. between the two of the world’s productsarewidelyusedinthe
enhance manufacturing’s contri- by the statistics ministry on Tues- clusters with key infrastructure A cluster approach to manufac- largest software services pro- marketplace for being best-in-
bution to India’s overall gross day. projects, the aim is to create seam- turing where firms and industries viders. class and most preferred Donald Trump gets no jail time or
domestic product, they said, “Therehavebeendiscussionson less value chains that can attract are part of a holistic system has The first salvo was fired by among customers,” it said. probation in hush money case
declining to be identified. boostingthemanufacturingsector, both domestic and foreign invest- strong theoretical underpinning Teaneck, New Jersey-head- Infosys said it developed its
Donald Trump, the first former US
India’s manufacturing sector, with plans for strategically placed ments, giving a significant boost to androbustcross-countryempirical quarteredCognizantinAugust own healthcare solution Helix president convicted of a felony, was
which represents about a sixth of clusters near infrastructure hubs, the economy,” the official added. evidence, said an industry expert, lastyear,allegingthatBengalu- as a competitor to Facets and sentenced by a New York judge on Friday
the country’s GDP, is expected to notonlycreatingjobsbutalsoposi- The second official said the gov- adding that micro, small, and ru-based Infosys stole trade QNXT, the software products to no jail for his hush money case, setting
growatamoremodestpaceof5.3% tioning the country as a global ernment may also look to ease pro- medium enterprises (MSME) secretsfromitshealthcaresoft- owned by Cognizant. Kumar him up to return to the White House this
year-on-year in 2024-25, down manufacturing hub,” one of the ceduralhurdles,rectifytaxanoma- ware arm TriZetto. month with a criminal record. >P14
from 9.9% in FY24, according to officials cited above said. lies,andrecalibratecustomsduties TURN TO PAGE 13 “Cognizant is committed to TURN TO PAGE 14

Space bump
Commercial real estate absorption has gone up in most key
m PENSIONS Advent of new angels spurs
rush of bite-sized cheques
metros and pan India in 2024 compared with 2023. A special pre-budget series by howindialives.com: Part 7
Net absorption of commercial real estate (in million sq. ft)
THE FINANCIAL BURDEN OF RETIREMENT
2023 2024 Y-o-y growth (in %)
As of March 2024, there were 6.5 million central government pensioners, which is about 30% more
Bengaluru 9.0 14.7 63.6 than the current count of central government employees (Chart 1). In 2022-23, the centre directed Mansi Verma & Priyamvada C. previously limited to the
Delhi NCR 7.3 9.4 30.3 about 5.8% of its total spending towards their pensions. In 2024-25, it expects to spend 5%.
That is a significant amount in the context of the government’s overall spending. Last year, the MUMBAI/BENGALURU friends and family of the
Mumbai 6.0 7.1 17.9
government did a U-turn on a system it implemented in 2004, which shifted the pension onus from founders of idea-stage compa-

I
Hyderabad 6.9 7.3 6.1 itself to employees, and committed more. With people living longer, this is one expense that is likely to nvestments of as little as nies.Now,lowerticketsizesare
Pune 4.9 4.8 -2.0 persist. ₹50,000 are surging in becoming common among
Kolkata 1.4 1.2 -12.2 States face an even greater predicament. Their combined pensions bill was about twice that of the India’s expanding startup backers, including younger
Centre, accounting for about 12% of their combined expenditure (Chart 2). This is a non-negotiable ecosystemasthefearofmissing professionals,businessowners
Chennai 6.6 5.0 -24.4 expense. And it means they have that much less to spend to create capital assets or fund targeted
out and easier access to deals from smaller towns and fresh
Pan India 42.0 49.6 17.9 schemes for the needy.
spur a new wave of angel entrants in the startup ecosys-
Source: Real Estate Intelligence Service, JLL Research
Central government pensioners Pension liabilities of governments investing. tem.
While some are making “There has been a gradual

Global occupiers
Number of central government pensioners Pension expenditure as % of total expenditure
Centre States micro-investments,themajor- shiftfromaprotectionmindset
Telecom Postal ity of angel investor cheques to one focused on wealth crea-
456,505 304 428
304,428
12.0 now falls in the range of ₹3–8 Most angel cheques fall in the tion and capital appreciation,

drive India office

11.6 lakh, according to industry range of ₹3–8 lakh. ISTOCKPHOTO alongside increasing appetite
Civil
experts. Such investments are for risk,” said Manish Goel,
1,009,702
outpacing the deals typically co-founder of Indian Angel founderandmanagingdirector

demand boom
made by wealthier investors Network (IAN), a platform for of Equentis Wealth Advisory
and prominent startup seed and early-stage invest- Services Ltd, an investment
5.8 founders, signalling a broader ment. advisory firm.
5.3 shift towards smaller angel Ruparel said most investors Wealthier investors such as
Khushi Malhotra occupier demand, particularly bets. prefer to put in ₹5-7 lakh prominent startup founders
khushi.malhotra@livemint.com in financial services, manufac- “Wedohaveasmallergroup because it balances risk at the and businessmen typically
MUMBAI turing, and tech outsourcing. of investors writing larger early stage. The average ticket place larger bets of ₹50 lakh
India’s office market is poised cheques of ₹35–50 lakh, often size for most angel funds that and above to diversify their

I
2022-23 2023-24
ndia’scommercialrealestate forcontinuedupwardmomen- Railways Defeennce second-generation family Mint spoke with is not higher portfolios and reinvest in the
rocketed last year, primarily tum.” 1,5
52
25,768 3,192
2,,265
For centre, 2022-23 data is actuals and 2023-24 is office individuals who are get- than ₹9 lakh—about ₹5–7 lakh ecosystem.
revised estimates. For states, 2022-23 is revised
on the back of swelling Other experts, too, see estimates and 2023-24 is budget estimates. ting in early. However, the for IAN, and ₹6–8 lakh for plat- The rise in angel investing
demand from global firms demand for office space in number of deals at this higher forms such as AngelList. has also been fuelled by start-
www.howindialives.com
howindialives com is a database and search engine Source: Department of pension and pensioners’ welfare;
scouring the country for office India continuing to rise this for public data Union budget documents; Reserve Bank of India ticket size is comparatively The practice of writing out
spaces, according to reports by year, in a sign of robust corpo- lower,” said Padmaja Ruparel, chequesaslowas₹50,000was TURN TO PAGE 13
top property consultants. rate sector employment and SATISH KUMAR/MINT

Netofficeabsorption—orthe growth, though recent quar-

new net floor space occupied terly results were poor.
by companies—reached about
50 million sq.ft. (msf) in 2024,
the highest in five years, as per
“As we look towards 2025,
the office sector in India is
poised for continued growth,
AI chip curbs trigger rare public fight: Tech giants vs China hawks
reports by real estate consult- underpinned by sustained
anciesCushmanandWakefield demand from a broad range of Liza lin & Alexander Ward latory overreach than protect China policies they view as The limits would be the cap-
and JLL Research. industries,” said Anshuman feedback@livemint.com U.S. interests,” said an Oracle harmful is likely to continue in stone of the Biden White
AcrossIndia’stopninecities, Magazine, chairman and chief executive vice president, Ken the new administration. House’s strategy over the past

T
overall office leasing recorded executive–India, South-East ension between nation- Glueck , in a blog post . On the The gloves came off this four years to stymie China’s
a historical high of 79msf in India,MiddleEastandAfrica,at al-security hawks and other side, a Republican-led week because of anticipation progress in technology critical
2024,CBRE,arealestateservi- CBRE. “The momentum seen the biggest American House committee urged the that the Commerce Depart- to future weapons develop-
ces and investment firm said in in 2024 is expected to persist, technology companies over administration to go through ment would imminently intro- mentandindustrialleadership.
a report. with technology, BFSI (bank- China policy has burst out into with tough curbs, calling it a duce a global export license In October 2022, the Biden
“As we close out 2024, the ing, financial services, and the open. “once-in-a-generation regime for graphics processing administration placed restric-
Indianofficemarketcontinues insurance), and engineering The trigger: a Biden admin- moment” to block Beijing’s units—the type of chip critical tions on the export to China of
to shine as a pivotal hub for sectors,alongwithglobalcapa- istration ambitions. to AI applications—and set high-end American chips and
global occupiers, reaching his- bility centres, driving the need plan to The bat- sales caps for certain countries. some tools used to make them.
toric net absorption levels of forbothtraditionalandflexible limit the tle lines in The goal would be to close off It also prohibited other coun-
49.56msf,” said Rahul Arora, office spaces.” global sale this clash— loopholes that otherwise could tries from selling those goods
head–office leasing and retail Data from another property of advanced artificial-intelli- a Democratic president and Silicon Valley battles both Biden and Republicans in clash over allow China to access AI chips if they used any U.S. technol-
services, and senior managing consultancy Knight Frank gence chips. It seeks to ensure leading Republicans squaring chip trade. REUTERS by tapping data centers in ogy to produce them. It fol-
director (Karnataka, Kerala), India, which tracks India’s top the U.S. keeps control over the off together against a major regions such as Southeast Asia lowed by expanding the curbs
India, JLL. eight cities, showed that of the future of AIby blocking Beijing U.S. industry—are unusual ment shouldn’t be making last-minute decisions promot- and the Middle East. several times, most recently in
“The expansion of global 72msf of office space leased in from accessing AI technology enough. Just as unusual is the sweeping policy moves. ingDemocraticpriorities.Many While Commerce hasn’t December when it banned the
capability centres (GCCs) in 2024, 36% was anchored by through third countries. timing, coming in the final But unlike some other areas in the camp of President-elect detailed its plans publicly, export to China of certain
core markets will be pivotal,” businesses focused only on The plan drops the “mother days of the Biden presidency. such as oil drilling , this isn’t a DonaldTrumparejustashawk- drafts of the rule have circu- memory chips essential to the
he added, “…with changing of all regulations” and “does Opponents of the new restric- case of President Biden trying ish on China, and the battle by lated in Washington, industry
workplace dynamics fuelling TURN TO PAGE 13 more to achieve extreme regu- tions say a lame-duck govern- to thwart his successor with techcompaniestoforestallanti- officials said. TURN TO PAGE 13