Archives 2025

Page Industries Limited delivers 34.3 Percent PAT growth in Q3 FY25

Page Industries

Mumbai, 6th February 2025: Page Industries Limited, India’s leading apparel manufacturer, today announced its financial results for the third quarter and nine months ended December 31st, 2024

Key Financial Highlights for Q3 FY 25:

  • · Sales volume grew 4.7% YoY, amounting to 57.8 million pieces
  •  Revenue at Rs. 13,131 million, a 7.1% increase YoY
  •  EBITDA was Rs. 3,025 million- growth of 33.6% YOY.
  •  Profit After Tax (PAT) at Rs. 2,047 million, a 34.3% increase YOY

Key Financial Highlights for 9M FY25 :

  •  Revenue at Rs. 38,368 million, growth of 7.3% YoY
  •  EBITDA was Rs. 8,273 million, a growth of 19% YoY
  •  PAT was Rs. 5,651 million, a growth of 22.6% YoY

Commenting on the results, Mr. V.S. Ganesh, Managing Director, Page Industries Limited said, “I am thrilled to announce that we have achieved strong profit growth, driven by consistent revenue increases and meticulous control over operating expenses. Our unwavering commitment to investing in top talent, product innovation, and digital transformation is propelling us towards our strategic goals. We are perfectly positioned to seize promising future growth opportunities, with modern retail and e-commerce continuing to serve as powerful growth engines.

Our focus on these areas not only strengthens our overall market position but also ensures we remain at the forefront of industry advancements.”

Outlook and Trends:

The Indian apparel retail sector confronts short-term headwinds due to dampened consumer sentiment. Nonetheless, long-term growth prospects remain robust, propelled by economic expansion, urbanization, and rising disposable incomes. Athleisure and innerwear are poised as pivotal growth drivers, complemented by the proliferation of organized retail and e-commerce.

Tarun Tahiliani’s timeless and classic luxury leather bags collection now available on Myntra Luxe

Bengaluru, 6 February, 2025: Myntra Luxe has unveiled the newly launched Leather Bag collection from the famed Indian designer Tarun Tahiliani. This stunning collection, inspired by the designer’s ‘India Modern’ philosophy, blends rich heritage with contemporary elegance, making luxury accessible to Myntra’s premium base of 70 million fashion-conscious customers. The collection introduces six distinct styles of leather bags: a playful vanity bag, an all-encompassing tote, a statement trapeze bag, a chic sling, a functional shoulder bag, and the signature bangle potli.

This partnership marks the debut of ‘Tarun Tahiliani’ in the e-commerce marketplace, extending beyond its brand.com. With this launch, Tarun Tahiliani accelerates its multi-channel strategy, reaching over 19,000 pin codes through Myntra’s extensive nationwide network.

Inspired by the evolving spirit of modern Indian women, the collection features a range of meticulously handcrafted leather bags that showcase the brand’s commitment to the finest quality. Each piece caters to modern women’s unique needs and moods, from those seeking everyday elegance to those looking for a statement piece for a special occasion or a sophisticated evening event. The collection showcases exquisite craftsmanship, luxurious materials, and a seasonless appeal, all grounded in the brand’s signature India Modern aesthetic, making them both practical and stylish for every occasion. Designed as timeless companions, the bags feature the signature TT monogram, artisanal charms, and gold-plated hardware, with intricate jaali-inspired detailing—a nod to India’s rich artistry.

Speaking about the launch, Tarun Tahiliani said, “India was the original home of luxury. Over the years, the demand for luxury in India has surged. The rise in disposable incomes, exposure to global trends, and the unprecedented influence of travel and social media have been key drivers of the increasing demand for luxury, spanning not just metro cities but also the country’s hinterlands. Myntra Luxe is well poised to bring our signature leather bags line to customers seeking luxury in the deepest corners of the country while providing a top-notch shopping experience through technology and service. While we may have begun to establish a presence in our megacities, there exists a whole other world of luxury seekers, far from where we are, and I hope Myntra Luxe will help us reach them.”

Speaking on the launch, Nandita Sinha, CEO, Myntra, said, “Tarun Tahiliani is one of India’s most celebrated designers and we are thrilled to welcome his exquisite luxury leather bags collection to Myntra Luxe. The brand’s unparalleled craftsmanship and timeless designs perfectly align with our vision of bringing the finest in luxury to our discerning customers. Premiumisation has been on a steady rise with increasing aspiration for luxury among customers. It’s a great time for the Indian luxury landscape as designers and brands are investing in catering to their evolving choices. We are delighted that Myntra Luxe is at the forefront of making luxury accessible to India.”

FADA Releases January’25 Vehicle Retail Data

Mr. C S Vigneshwar,

6th February’25, Mumbai, INDIA: The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for January’25.

January’25 Retails

FADA President, Mr. C S Vigneshwar, shared his perspective on the Auto Retail performance for January 2025:

“The Auto Retail sector kicked off 2025 on a promising note, aligning with FADA’s earlier survey projections that expected January to range from flat to moderately positive. Indeed, overall retail sales posted a robust 6.6% YoY growth, reinforcing the industry’s optimistic start. Our observations indicate that each vehicle category—2W, 3W, PV, Tractor, and CV—witnessed positive momentum, pointing toward sustained consumer confidence and steady market recovery.

Continuing from our last press release, where FADA’s dealer survey suggested a ‘flat to growth’ sentiment for January, the month closed with an overall growth of 6.6% on a YoY basis. All categories began the new calendar year on a solid footing, with 2W, 3W, PV, Tractor, and CV growing by 4%, 6.8%, 15.5%, 5%, and 8%, respectively on a YoY basis.

Two-wheeler sales saw a healthy 4.15% YoY and 27.39% MoM growth, with urban markets gaining a share from 41.6% in December to 43.7% in January. Urban sales also outpaced rural on a YoY basis, growing by 4.54% compared to 3.85%. Dealers cite new model launches, marriage season demand, and improved financing as key growth drivers. However, concerns about rising interest rates, rural liquidity challenges, and market uncertainty still linger.

Passenger Vehicle sales grew robustly by 15.53% YoY and 58.77% MoM, although some of that spike stems from December purchases registered in January for a “2025 model year” advantage. Urban markets inched up from 60.8% to 61.8% share but rural posted a higher YoY growth of 18.57% vs. urban’s 13.72%. Many dealers noted improved demand but also pointed to last year’s heavy discounting, which helped clear older models and shift registrations. Inventory levels have improved, dropping by around five days to 50–55 days, suggesting an improved supply-demand balance.

Commercial Vehicle sales increased by 8.22% YoY and surged 38.04% MoM, with urban markets climbing from 50.1% to 51.2% share and outpacing rural growth (9.51% vs. 6.89%). While higher freight rates and passenger carrier demand provided a boost, many dealers cited low cash flow, strict financing policies, and sluggish industries (like cement and coal) as major hurdles. Sentiments in rural regions remained notably subdued, compounded by limited new products. Overall, the sector shows cautious optimism but faces persistent headwinds.”

Near-Term Outlook

Riding on the momentum of a promising start to 2025, the Auto Retail sector enters February with cautious optimism. According to our latest survey, nearly half of dealers (46%) anticipate growth in the coming month, while 43% expect sales to stay flat and 11% foresee a dip. This blend of sentiments underscores the industry’s complex landscape—where bright spots are tempered by ongoing challenges.

On the positive side, dealers report that the continuing marriage season, fresh product launches and strategic promotional activities are likely to sustain customer footfalls. Furthermore, improved inventory management, better financing options from select lenders and backlogged orders in certain segments (such as commercial vehicles) add to the sense of guarded confidence. With supportive policies and a post-budget lift in consumer sentiment, many believe February could see a stable or slightly elevated sales curve.

At the same time, shorter working days, pockets of weak rural liquidity and inflationary pressures remain areas of concern, potentially limiting the extent of any upswing. Strict lending criteria, costlier vehicles and subdued demand in certain industrial sectors could weigh on overall performance.

Even so, India’s Auto Retail stands poised for modest gains if these headwinds ease. With nearly half of surveyed dealers still expecting an uptick, a collective sense of optimism prevails, suggesting that the industry is ready to ride out near-term challenges and look forward to brighter days ahead.

Key Findings from our Online Members Survey

Liquidity
Neutral 51.77%
Bad 25.89%
Good 22.34%

Sentiment
Neutral 53.55%
Good 24.47%
Bad 21.99%

Expectation from February’25
Growth 45.74%
Flat 42.91%
De-growth 11.35%

MakeMyTrip launches ‘Loved by Devotees’ to help pilgrims find the perfect stay

Gurugram, 6th February 2025: Spiritual travel in India is witnessing unprecedented growth, with pilgrimage destinations now accounting for over 10% of MakeMyTrip’s total room night bookings in Q3 FY25. Searches for religious destinations on the platform have surged by 46% in 2024 as compared to 2022, highlighting a growing preference among travellers for journeys that are deeply meaningful and spiritually enriching — distinct from leisure travel.

Rooted in faith and tradition, these pilgrimages often involve families with a higher percentage of elderly members, making it essential to find the perfect stay with facilities tailored to their needs. To simplify the identification of the stay, MakeMyTrip has introduced ‘Loved by Devotees’, a curated collection of 450+ hotels and homestays across 26 leading spiritual destinations. This initiative aims to take the guesswork out of planning spiritual journeys and ensure that travellers find stays that meet their specific needs for comfort, accessibility, and convenience.

MakeMyTrip - Thumbnail

Speaking about the development, Ankit Khanna, Chief Product Officer – Hotel, Growth & Emerging Businesses, said, “Getting to India’s spiritual destinations is easier than ever with better roads, rail, and air connectivity. ‘Loved by Devotees’ ensures that the stay offers amenities that meet the specific needs of spiritual travelers. Developed using real traveler insights and technology, it helps travelers find the perfect stay. The goal is simple—to remove the stress of planning so devotees can focus on what truly matters—their faith and experience.”

The ‘Loved by Devotees’ feature evaluates properties based on six key criteria: proximity to the sacred place for worship, accessibility from transit points such as airports, railways, and bus stations, availability of pure vegetarian restaurants, parking facilities, travel desk support, and elderly-friendly amenities like wheelchair assistance, doctor-on-call, lifts, and first-aid kits. Additionally, only accommodations with a user rating of 3.5 or higher on MakeMyTrip are included, ensuring a high standard of quality and reliability.

The initiative currently covers 26 of India’s most sought-after spiritual destinations including Ajmer, Amritsar, Ayodhya, Deoghar, Dwarka, Guruvayur, Haridwar, Katra, Kukke Subramanya, Kumbakonam, Madurai, Mathura, Nathdwara, Prayagraj, Puri, Rameshwaram, Shirdi, Somnath, Thanjavur, Tiruvannamalai, Thrissur, Tirupati, Udupi, Ujjain, Varanasi, and Vrindavan.

Hormonal journey of a woman’s life: Understanding the Different Stages

By-Dr. Ayesha Gulzar, Consultant – Obstetrics & Gynecology, Milann Fertility Center, Bengaluru

As our body changes over time, our health needs to change. Every woman experiences a rollercoaster of hormonal changes throughout her life. Hormones play a vital role in a woman’s life, influencing various physical and emotional changes throughout different stages. From puberty to post menopause, hormonal fluctuations shape a woman’s reproductive health, overall wellbeing, and the quality of life.

Most women don’t even realize that their behaviour is associated with hormone change. Plus, in many households, such topics are only whispered about or brushed under the rug. But it’s all part of a being a woman. However, it’s important to understand how different hormones affect different phases of a woman’s life. Hormonal fluctuations do not just affect a woman’s physique but has a significant impact on mental and emotional wellbeing. Their effect varies in different phases of a woman’s life. Take a look at the various stages that a woman experiences in her life.

Puberty (Ages 10-14)

Puberty marks the beginning of a woman’s reproductive journey. During this stage, the hormones GnRH triggers the release of luteinizing and follicle-stimulating hormones (LH and FSH), which stimulate estrogen production and ovarian development. This leads to breast development and growth, body hair growth, menstruation and increased growth rate.

Menstruation (Ages 21-35)

In this stage estrogen and progesterone levels fluctuate, preparing the body for potential pregnancy. Women may experience:

a) Premenstrual syndrome (PMS) symptoms like cramps, bloating and mood swings.

b) Irregular cycles due to stress, diet and exercise

c) Fertility and reproductive health

Pregnancy

During pregnancy, estrogen and progesterone levels surge to support fetal development. These hormones prepare the uterus and placenta and ready the breasts for breastfeeding. Women may experience,

a) Morning sickness due to hormonal changes

b) Weight gain and body changes

c) Breast tenderness and enlargement

After the delivery, the estrogen and progesterone levels drop. But prolactin levels exponentially increase. This hormone is responsible for stimulating the growth of mammary glands. That’s why a woman’s breasts look fuller and start generating milk. During the postpartum period the woman may experience mood swings and emotional changes, weight gain and decreased sex drive and breastfeeding and lactation.

Perimenopause (Ages 35-55)

Estrogen and progesterone levels gradually decrease, leading to

· Irregular periods and menstrual changes

· Hot flashes and night sweats

· Vaginal dryness and decreased libido

· Mood swings and emotional changes

Menopause (Ages 45-55)

Menopause marks the end of a woman’s reproductive journey. Estrogen and progesterone levels remain low, and women may experience:

· Hot flashes and night sweats

· Vaginal dryness and decreased libido

· Mood swings and emotional changes

· Weight gain and body changes

In total, a woman’s hormonal journey is complex and influenced by various factors. Understanding the different stages of hormonal changes can help women better navigate their reproductive health, overall well-being and quality of life. Apart from these, a woman can do a few other things to manage hormonal changes.

The first step is to learn to recognize your body’s hormonal changes and symptoms. A woman can keep a record of all her symptoms in a calendar and analyse them to see if there is a pattern. She can even use a free period tracking apps available online. Also try to understand certain other triggers which disturbs the hormones and creates an imbalance. For instance, eating spicy food during the menstrual cycle can cause more cramps, or not getting sufficient sleep can make one more irritable. Be self-aware to manage the symptoms in a better way.

8 Effective Ways to Minimize Postpartum Complications

Dr. Kavitha Kovi

Dr. Kavitha Kovi, Head of Department – Obstetrics & Gynaecology, Aster Women & Children Hospital, Bengaluru

The post-delivery period is an important phase for new mothers. However, it often comes with physical and emotional challenges that affect recovery and impact the mother’s overall health. The complications can occur immediately after delivery or within the postpartum period, which typically spans the first six weeks after giving birth.

Here are eight practical ways to support recovery and well-being after childbirth:

1. Postpartum Checkups: Regular checkups are vital for recovery and identifying potential issues early. These appointments enable doctors to evaluate wound healing, detect infections, and address lingering conditions like gestational diabetes or postpartum hypertension. Postpartum checkups also offer an opportunity to discuss breastfeeding challenges and mental health concerns, ensuring comprehensive care during recovery.

2. Rest and Recovery: New mothers often suffer from a lack of sleep, which can affect their recovery and raise the risk of post-delivery depression. Techniques such as napping when the baby sleeps, giving responsibilities to family or friends, and sharing nighttime duties with the partner can help ensure sufficient rest. A healthy recovery helps in the overall well-being of the mother.

3. Well-Balanced diet:

  •  Iron: To avoid postpartum anemia brought on by blood loss.
  •  Protein: To help repair the tissue.
  •  Calcium and Vitamin D: To help improve bone health, mainly for nursing mothers.

Maintaining proper hydration is also important because it helps increase energy levels and supports milk production in mothers.

4. Incorporate Gentle Exercises: Engaging in mild exercises can enhance blood flow, reduce the risk of blood clots, and lift the mother’s mood. Kegel exercises, often known as pelvic floor exercises, can help strengthen the tissues weakened during pregnancy. Continuing exercising not only helps with the mother’s recovery but also boosts her energy and self-confidence.

5. Practice Good Hygiene: Maintaining proper cleanliness is crucial for reducing infections, especially in places that have sutures or for women who have had cesarean sections. It is important to follow the doctor’s instructions for cleaning and drying the surgical wound or perineal area. Changing pads regularly and washing hands frequently also lowers the risk of bacterial infections. Symptoms of infections include fever or odd discharge which needs to be identified and treated quickly.

6. Monitor Mental Health: After childbirth, emotional health is just as important as physical recovery. New mothers might experience depression after delivery in the form of mood swings, anxiety or sadness. Loneliness can be reduced by building positive connections with friends and family. Mental health therapy is recommended for an easy shift to parenthood.

7. Breastfeeding Problems: Initial trials of nursing can result in issues like blocked ducts and nipple pain. These problems can be reduced by making sure the latch is correct, changing feeding positions and consulting a lactation specialist. A healthy and peaceful bonding experience can be created for both the mother and the infant through effective breastfeeding care.

8. Warning Signs: Recognizing the signs of serious postpartum complications can be lifesaving. Seek immediate medical attention for:

  •  Excessive bleeding or large blood clots.
  •  Fever or symptoms of infection.
  •  Persistent leg pain or swelling, which could indicate blood clots.
  •  Severe headaches or vision changes, which may signal postpartum preeclampsia.
  •  Frequent mood swings and crying.

Proactively addressing these symptoms ensures timely intervention and prevents minor concerns from escalating.

The postpartum period is a delicate phase of recovery and adaptation. Complications, if any, can be minimized with the right measures. Following steps like regular checkups, enough sleep, consumption of nutritious food, maintaining personal hygiene and mental health support can lead to a quicker recovery. New mothers can focus on enjoying the benefits of parenthood by simply being mindful.

Ananta’s Newest Film Showcases Rajasthan’s Best-Kept Secret

Ajabgarh, Rajasthan, India 2025 – Rajasthan has been stealing the spotlight lately, but beyond the well-trodden path of Jaipur and Udaipur rallies a hidden marvel—Ajabgarh. With its majestic fort standing against the Aravalli skyline, this secluded paradise now finds its voice in an evocative brand film, unveiled by Ananta Hotels & Resorts in collaboration with PKFilms, and ConnektingDots.

More than just a visual journey, this film is an invitation—an invitation to witness the seamless blend of heritage, nature, and luxury that defines Ananta Spa & Resort, Ajabgarh. Through breathtaking cinematography, it transports viewers into a world where time slows down, where the echoes of Rajasthan’s royal past meet contemporary indulgence.

Set against the historic Ajabgarh Fort, this film brings to life are treat crafted for discerning travelers, destination wedding seekers, and experience-driven explorers. The architecture brilliance, the thepanoramicAravalliviews, and the sensory indulgence of there sort’s element-inspired villas—Fire, Earth, Water, and—are all masterfully captured through the lens of Nitish Kharbanda’sPKFilms, a name synonymous with storytelling that leaves a lasting impact.

ReimaginingAjabgarhThroughStorytelling

This cinematic reveal is part of an immersive pre-launch strategy by ConnektingDots, aimed at positioning Ananta Ajabgarh as Rajasthan’s next luxury landmark. By intertwining digital storytelling with experiential branding, this initiative ensures that

Ajabgar is no longer just a name on the map but a destination on every traveler’s wishlist.

“At AnantaHotels & Resorts, we have always been dedicated to curating spaces that offer more than just a stay—to experience. With Ajabgarh, we aimed to create a destination that is not only luxurious but also deeply connected to the soul of Rajasthan. This film, produced in collaboration with PK Films and Connecting Dots, beautifully captures that vision. We eagerly look forward to welcoming our guests to Ajabgarh, where every moment is designed to be truly unforgettable.”Shares Mr.MohitGoyal(Director,AnantaHotels & Resorts)

“Ananta Spa & Resort, Ajabgarh is a testament to our vision of crafting luxury experiences that seamlessly blend heritage with modernity. This brand film beautifully encapsulates the essenceofAjabgarh, bringing to life the serenity, cultural richness, and architectural splendor that define this destination. We are excited to invite travelers to discover the charm of Ajabgarh through this cinematic journey ,and experience the unparalleled hospitality that Anantast and for.”Expresses Mr.AshutoshGoyal (Director, Ananta Hotels & Resorts)

“Bringing Ananta Resorts & Spas’ latest addition in Ajabgarh to life through this film has been an incredibly fulfilling experience for us at PK Films. When I first wentthroughthecreativebrieffromConnektingDotsandthengotonacallto understand the passion and emotion behind it from the Goyals, I met Ashutosh. Thatconversationchangedeverything.Right from the way he spoke about the details to his clarity on how he wanted Ajabgarh’s essence to come through, it was truly inspiring. It wasn’t just about making a film, it was about telling a story that felt real, something people could connect with.That level of involvement and passion made it so much easier for us to create something that does justice to the vision. Working alongside Ananta Resorts & Spas and Connecting Dots has been an honor, and we can’twaitforpeople to experience Ajabgarh through this film, and in person.“Says, Mr.NitishKharbanda,FounderofPKFilms

“Having worked alongside Ananta Hotels & Resorts on several of their iconic properties, stepping into the creative realm for Ajabgarh was a thrilling challenge.Translating Mohit and Ashutosh’s vision into a compelling narrative was an excitingjourney built on trust and collaboration. Partnering with PK Films, whose expertise in tourism and hospitality storytelling is unparalleled, ensured that Ajabgarh’s essence was captured in every frame. We are excited to share this story and look forward to bringing more powerful narratives to life as we approach the opening in March.”added Ms.NehaKhilnani, Founder, and CEO of Connekting Dots

Arts in the Age of AI: A Thought-Provoking Discussion at Kala Ghoda Festival

Delhi, February 2025 – The Kala Ghoda Arts Festival is one of Mumbai’s most iconic cultural events, celebrating diverse forms of art, literature, music, and heritage. It provides a platform for artists and intellectuals to showcase their talents and engage in meaningful dialogues. This spirit of exploration was vividly reflected in an electrifying panel discussion titled “Arts in the Age of AI,” which delved into questions like: Can AI be truly creative? Does technology enhance or threaten artistic expression? These thought-provoking topics took center stage, sparking engaging debates and leaving the audience both inspired and intrigued.

arts

Moderated by Vibha Kagzi, Author, Founder & Chief Education Officer of ReachIvy.com, the panel featured renowned film producer Dheer Momaya, Indian author, journalist, and speaker Meghna Pant, celebrated sitar maestro Purbayan Chatterjee and Radio & Podcast Host and Producer Hrishi K. Together, they navigated the fascinating intersection of art and artificial intelligence, debating how AI is reshaping creativity across literature, music, filmmaking, and visual arts.

Meghna Pant reflected on AI’s role in literature, stating, “AI is inevitable. Instead of resisting it, we should embrace its potential and learn to coexist. It can enhance storytelling, but it’s no replacement for human creativity. AI can’t replicate the depth and emotional resonance that come from lived experiences.’

Dheer Momaya shared his insights on filmmaking, noting, “AI operates within predictable structures and patterns, making it easy to identify AI-generated content. Authentic storytelling transcends algorithms; it thrives on human nuance, emotion, and the subtle imperfections that make stories real and relatable.”

The session sparked intense discussions on AI’s role as a collaborator rather than a competitor in the creative world. Vibha Kagzi remarked, ‘AI is not here to replace human creativity but to challenge and expand it. It pushes us to think differently, to innovate, and to redefine what it means to be an artist in the digital age. The key is to harness AI’s potential while staying rooted in our unique human experiences.’

Addressing the impact on music, Purbayan Chatterjee commented, “The key with technology is to make it work for you, not the other way around. When artists understand how to harness AI effectively, it can enhance their creativity rather than hinder it. True artistry comes from the soul, and as long as musicians stay true to that, AI remains a valuable tool, not a substitute.”

Adding to this, Hrishi K,Radio & Podcast Host and Producer remarked, “‘AI can replicate voices, scripts, and even generate content, but it can never capture the authenticity that makes human conversations truly engaging. The magic of radio and podcasts lies in the unscripted moments—the laughter, the pauses, the raw emotions that connect with audiences on a personal level. AI can be a tool, the ability to resonate with listeners comes from genuine human experience.”

With her signature charm and intellectual depth, Vibha Kagzi steered the discussion towards real-world implications, engaging both panelists and the audience in a dynamic conversation. The energy in the room was appreciable, as attendees—ranging from art lovers and AI researchers to students and industry professionals—eagerly exchanged ideas, opinions, and even a few concerns about the future of creativity in a tech-driven world.

How the Pharma Sector is Poised for Growth in 2025

By – Prathamesh Masdekar, Research Analyst, StoxBox
The pharmaceutical sector has demonstrated notable improvement in recent quarters, driven by better performance in the US generics market, robust results in branded markets, and a moderation in raw material costs. These factors have collectively contributed to the healthy earnings of pharmaceutical companies despite global headwinds. As we advance, most pharma companies are expected to achieve 12-15% growth in 2025 amid a focus on new product launches, increased volume growth, and rising demand for generics and branded products. Additionally, pharmaceutical companies have strengthened their presence in chronic therapies, prioritized new product introductions, and explored new therapies to capitalize on emerging opportunities.

India is marking its rising position in pharmaceutical manufacturing by being the primary producer of generic drugs. During FY24, India’s pharmaceutical and drug exports were ~$27 bn, which made India one of the top global exporters. India’s Drug and pharmaceutical exports soared from $15 billion in 2013-14 to $27.85 billion in FY24. Ranking third globally in drug and pharmaceutical production by volume, India exports to ~200 countries. The top five destinations for these exports are the USA, Belgium, South Africa, the UK, and Brazil. With a 10-12% growth rate, India’s pharmaceutical sector is expected to reach $100 bn by 2025, fuelled by its robust domestic manufacturing base. During 2024-29, 15 blockbuster drugs (including biological products) will be off-patented, worth $112 billion, providing a tremendous growth opportunity for Indian pharmaceutical companies by another $10 billion. The patent on Revlimid expires in January 2026, and the pharma majors, which have seen strong growth on the back of this drug, are looking for other opportunities to keep their growth path.

The US Bio Secure Act is also poised to positively influence the Indian API CDMO industry as global pharmaceutical stakeholders increasingly seek alternatives to China. The Indian CDMO sector will likely thrive, bolstered by a robust capital expenditure cycle focused on capacity expansion, a strong USFDA compliance track record, sustained M&A activity, and investment in niche technologies. India’s unique positioning in the changing global API dynamics and continued strong presence in the US pharmaceutical market supply chain further strengthen this outlook. US Bio Secure Act will positively impact the Indian API CDMO industry with US$ 7 Bn accruing over the next five years as global pharmaceutical stakeholders look for alternatives to China. It is believed that China still commands around 30-34% of the global API/CDMO industry market share. Meanwhile, fruitful discussions by US firms with Indian peers will lead to investment in capability enhancement and capacity expansion that could range from two to three years to commercialize. Indian CDMO industry will likely remain in a sweet spot due to a strong capex cycle across the sector in capacity expansion as well as capability enhancement backed by a healthy balance sheet, proven capabilities of executing complex molecule development, strong USFDA compliance track record, sustained M&A activity and investment in niche technologies to gain foothold in complex projects for innovator clients and India’s unique positioning in the changing global API dynamics and continued strong presence in the US/regulated pharmaceutical market supply chain.

Overall, we expect domestic-focused pharma players to report 8-10% growth driven by an uptick in the chronic segment, higher MR productivity, new product launches and a focus on cost optimization. We expect pharma companies focusing on US business to grow strongly due to ongoing drug shortages, new product launches, and a shift towards specialty products and niche molecules. The sector is also likely to benefit from steady cash flows and low financial leverage, which will help maintain stable credit profiles, even as pharmaceutical companies pursue acquisitions in niche therapeutic areas.
Indian API Market Overview

 

The 18th edition of the Jaipur Literature Festival reaffirmed the power of unbiased discourse

Jaipur Music Stage,

Jaipur, February 6, 2025 – The Jaipur Literature Festival, presented by Vedanta in association with Maruti Suzuki, and powered by VIDA, concluded its 18th edition on a high note, bringing together writers, thinkers, and creative ideas from across the globe to celebrate the power of storytelling and unbiased discourse. Held at Hotel Clark’s Amer, this year’s Festival welcomed over 600 speakers, offering a series of insightful discussions, debates, and performances. The multi-faceted event served as a meeting point for both established and emerging voices in literature, as well as for those passionate about literature’s ability to inspire, challenge, and create a meaningful change in the world.

Highlights for the Day

In a house packed with lovers of literature and music, the legendary music producer Joe Boyd, who has worked with Pink Floyd, Nick Drake, and R.E.M, was in conversation with Caroline Eden to discuss his recent book ‘And the Roots of Rhythm Remain’. Boyd said, “What I’m writing about is the music that we in the so-called West know the best, but don’t know anything about. Everybody likes reggae, and Latin music, Brazilian samba, Argentine tango, eastern-European gypsy music, and Indian music. And so, the structure of the book is to take each of those styles, look at how they entered our world, and where they began.” The book evocatively explores the global influences and history behind popular Western music.

The distinguished descendants of Mahatma Gandhi and Leo Tolstoy, Gopalkrishna Gandhi, and Daniil Tolstoy, were also in conversation. Their discussion commenced with Gopalkrishna Gandhi recounting Mahatma Gandhi’s arrival in London, which was marked by an unexpected turn of events following the assassination of Sir Curzon Wyllie. This incident subjected Gandhi to significant political and social scrutiny. Simultaneously, a letter by Leo Tolstoy, A Letter to a Hindu, was circulating in London, emphasizing that love, rather than hatred, was the key to overcoming British rule in India. The discussion brought together Gopalkrishna Gandhi and Daniil Tolstoy in a profound intergenerational exchange. As the session progressed, excerpts were read from A Letter to a Hindu, in which Tolstoy had drawn from ancient Tamil spiritual texts that continue to be revered today. The discussion concluded with reflections on how Tolstoy’s correspondence with Gandhi shaped the latter’s philosophy, ultimately inspiring the Satyagraha movement, which played a crucial role in India’s struggle for independence.

Writer, playwright, and actor Manav Kaul’s heartfelt account of his journey as an author marked the beginning of the final day of the Jaipur Literature Festival with the session ‘A Bird On My Window Sill’. “You will find more of me in my writings than you will in my looks”, said Kaul as he proclaimed his love for books, solitude, and traveling solo. Kaul also spoke of the nostalgia that ‘chai’ brings and how it became an important part of his life, eventually playing a big part in his writings. Kaul emphasized the importance of real-life experiences as a driving force for his writing; one has to wait for the words to come to you and once they come to you, there is nothing more beautiful than that. “Me and my friend, Saleem, used to sit on the Hoshangabad railway station and watch the trains go by. Sitting there, we always used to wonder where these fast-paced trains were going, and where they were terminating. I wanted to see all those places, and even today I have that child-like curiosity to visit all those places and meet all the people.”

A much-loved session, ‘Empire: Udham Singh: The Man and the Myth’, between Anita Anand and William Dalrymple, who collaborate on one of present-day’s most popular podcasts ‘Empire’, brought their characteristic podcast-style banter to the Monday morning. Anand dramatically recounted the story of Udham Singh’s 20-year quest for justice after the Jallianwala Bagh massacre. She described her family’s connection with the massacre and told the story of a moment when she visited the site with her children and realised it could just as easily have been them. That personal connection motivated her to bring the story to a broader audience. Her retelling spanned all the way from Singh watching hundreds die around him all the way to the fateful two bullets that ignited a legend. Dalrymple’s interjections shaped the story with humour, wit and flair that together kept the audience captivated until the final moment.

At the session, ‘Chhaunk: On Food, Economics and Security’, Nobel Laureate Abhijit Banerjee and Cheyenne Olivier were in conversation with Vir Sanghvi. Banerjee and Oliver explored how economics intrinsically connects with society, focusing specifically on food security. Oliver used the United States as a case study for what happens when food becomes a manner of piling ingredients rather than generating brilliance with constraint. Thoughtful restraint is key, both in cooking and in life at large, Banerjee said. Oliver and Banerjee also discussed how they used art and cartoons to bring larger economic principles to life. They tried to put themselves in the mind of a naïve reader to simplify complicated concepts to a modern audience. They also brought out the fact that most iconic foods in the world are actually the food of the masses – the pizza, the khichri or even chowmein.

Banerjee said, “Economics is intimately connected to the way we live our lives from every direction,” and followed it up with, “ I often thought about how to make economics more palatable. How do you get people to read economics without throwing jargon at them? I understood that writing about food would be a great way to connect the two…Great cuisine comes out of constraint, thinking about how you can make something out of very little… And that’s one great thing about Indian food, is that there’s so many delicious things made out of the most everyday ingredients.”

In ‘A Day in the Life of Abed Salama’, Nathan Thrall was in conversation with Ghaith Abdul-Ahad. Thrall’s book A Day in the Life of Abed Salama, narrates the gut-wrenching story of Salama, who loses his son in a bus crash. Through a story of personal loss, Thrall uncovers the larger reality of life under Israeli dominance. A close observer of the Israel-Palestine conflict, Thrall lives and reports from Jerusalem. Thrall’s book traces the real causality of the incident which took Salama’s son away. Thrall chose the primary storyline of the book as the fast-paced story of the bus crash to keep readers hooked to the book.

A packed session, ‘Jab We Met Imitaz Ali’ had Imtiaz Ali in conversation with Anupama Chopra. Ali shared his experience of twenty years as a filmmaker, producer and screenwriter. He spoke of the challenges that social media brings to you as an individual, how it can make a person sycophantic because it keeps giving you the feed that you want to see. Ali said, “Success is something that people enjoy or want, but I think failure can teach you a lot of things. Life is not only success and failure, life is also what your relationships are, what you are striving to do, etc. All those remain unaffected (by success or failure). What is important is to be able to be better at the work that you want to do.”

A discussion of Mir Taqi Mir must begin with ‘Aadab’, said Vidya Shah during her session with Ranjit Hoskote. For Hoskote, the first point of excitement was that Mir represented an old era of Urdu, where there was a fair deal of Khari Boli, Braj, and Deccani. He went on to discuss what constituted the universe of Mir’s language—from Persian to many other languages across the subcontinent in the 18th century. He urged that Persian should be regarded as an official language in India, as there is so much transfer from Persian in Marathi and many other Indian languages. Speaking about languages like Braj, which constitute Mir’s verses, he said, “They have been erroneously reduced to ‘dialects’, which is a nonsense word.” Speaking of the themes Mir wrote about, Hoskote read out couplets on love, philosophy, politics, and wit. With this book, Hoskote sought to bring to the world of English textuality an older order of poetry, where utterance and orality were more important than the written word.

At the concurrently held Jaipur BookMark, a premier publishing conclave, a Festival Directors’ Roundtable, that featured Irenosen Okojie, Alice Mong, Govind Deecee, Janhavi Prasada, Jenny Niven, Jessie Friedman, Juan Manuel Guimerans, Namita Gokhale, Nicola Tuxworth, Olga Drenda, and Subha Sanja Urs, Namita Gokhale brought a sense of practicality to the subject, addressing the consternations expressed by zealots and journalists alike. Okojie and Drenda stressed the importance of cultural representation. Guimerans and Urs elaborated on the intersections found between local culture and literary spheres. Prasada gave importance to the idea of festivals as a retreat from a world engulfed by tragedy.

The Festival also conferred the Vani Prakashan Award to acclaimed writer, translator and journalist Shanta Gokhale. The award recognised her remarkable contributions to the literary world. A distinguished writer and translator since 1960, she has authored novels, plays, short stories, film scripts, and numerous newspaper articles. Her translations include works by Vijay Tendulkar, Mahesh Elkunchwar, Satish Alekar, G. P. Deshpande, and Rajeev Naik from Marathi into English, as well as Gieve Patel’s Mr Behram and Jerry Pinto’s Em and the Big Hoom from English into Marathi.

The Festival’s much-anticipated Closing Debate, ‘Pacifism is for Losers,’ featured a panel comprising Mukulika Banerjee, Manpreet Vohra, Gideon Levy, Salil Tripathi, Yaroslav Trofimov, and Georgina Godwin, with Vir Sanghvi as the moderator and chair. It focused on the fractured world we inhabit and, in this age of conflict, whether war is the only option. During the debate, Trofimov said: “I agree that peaceful change is much preferable to violent solutions, but sometimes it’s impossible. I agree that pacifism is the weapon of the strong, unfortunately very many people facing adversity are not strong.”

In her opening remarks, Godwin said that “violence can bring about change but it comes at a terrible price. It infects a nation’s metabolism with a toxic residue. Violent revolutions often create a messianic leadership seldom leading to democracy.” Banerjee noted that “in the land of Gandhi, in the land of India, we think pacifism is a good thing because we associate it with that very imperfect English translation to mean non-violence and civil disobedience. These are words in English, but they don’t capture the spirit of that ideology, which is Satyagraha—it is not pacifism.” Levy stated: “My argument will best be framed by what Mahatma Gandhi said once that nonviolence is the weapon of the strong. And fortunately or unfortunately I represent a state which is the strong one.” The debate concluded with a discussion among the panelists in which Sanghvi asked them hard-hitting questions based on their opening remarks.

As this year’s Jaipur Literature Festival, presented by Vedanta, in association with Maruti Suzuki, and powered by VIDA comes to a close, we reflect on the lasting impact of the inspiring conversations, shared experiences, and new friendships forged at the Festival. With its unmatched diversity of thought, the Festival once again affirmed its place as the grand dame of all literature festivals. The next edition of the Jaipur Literature Festival which was announced today is set to start on 15 to 19 January, 2026.