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Daybreak

The Ken

Business news is complex and overwhelming. It doesn’t have to be. Every day of the week, from Monday to Friday, Daybreak tells one business story that’s significant, simple and powerful.

Hosted from The Ken’s newsroom by Snigdha Sharma and Rachel Varghese, Daybreak relies on years of original reporting and analysis by some of India’s most experienced and talented business journalists.

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#878
Yesterday · 12 min
India's jewellery makers are IPO-ing away to pay for gold
Eight jewellery companies have listed on India’s main board this year. Many of them are the behind-the-scenes makers who supply to big brands like Malabar, Kalyan, and Senco. Investors have lapped them up. One issue was oversubscribed a hundred times. On paper, it’s easy to see why, because their profits are soaring. But they have to pay for gold upfront and wait months for retailers to pay them. In the end, their bank credit is almost wiped out. So most of what investors handed over is going into repaying loans and buying gold. In this edition of Long and Short from The Ken newsroom written by Debanjali Biswas and read aloud by Snigdha, we look at what exactly investors are buying into. Tune in. This episode was edited by Arnav Prakash. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#877
Yesterday · 11 min
How the security deposit became a landlord’s free working capital
This Diwali, gift The Ken! Tenants across India's six biggest metros have handed landlords Rs 1.26 trillion in security deposits, a new NoBroker study estimates. Around $15 billion of tenant money, refundable in name, sits in landlords' accounts earning interest for people it does not belong to. In this episode, host Snigdha Sharma ask what a deposit actually costs a renter, and arrives at a number: nearly a month's rent, every year. The same tenant who pays 2 months' deposit in Mumbai is asked for 10 in Bengaluru, and in Delhi NCR, about 4 in 10 never got their full deposit back. Renting was meant to be a phase. But with home ownership drifting out of reach, tenants may be extending this loan for decades. Tune in. Recommendations: It sucks to be a tenant in Bengaluru right now *This episode was originally published on July 17, 2026. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#876
Sunday · 11 min
A $12B R&D fund was meant to turbocharge startup funding. It did the opposite
India's RDI fund of Rs. 1 lakh crore was launched to give patient capital to deep-tech startups. A year later the cash, is barely flowing. Out of 162 alternate investment funds, only 2 government intermediaries have approved letters, and most of their startups are still waiting. Fund managers say that they've experienced radio silence after applications, allegations of conflict of interests, and return expectations that don't suit R&D focused companies. Meanwhile, overall startup funding is also down. So, why did the fund meant to speed things up end up slowing everything down? Tune in. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#875
Thursday · 16 min
Why India’s airlines are flying less and charging you more
“Don’t travel by air.” That was a Supreme Court judge’s response on Monday, when a petitioner asked for an urgent cap on airfares before Diwali, Bhai Dooj and Chhath. Airlines blame jet fuel, and they have a point. Jet fuel in Delhi costs about 46% more than it did a year ago, and fuel now makes up nearly 40% of IndiGo’s costs. But fuel alone can’t explain a ticket that costs four times the usual price. Here’s the stranger part: fewer Indians are flying. Domestic passenger numbers have fallen for four months in a row. Instead of cutting fares to win flyers back, airlines have cut flights, and by more than passengers have fallen. In today’s episode, host Snigdha Sharma breaks down the airline maths behind fewer flights and costlier tickets and what could help. Tune in. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#874
November 4 · 14 min
At IITs, a long-brewing ‘culture war’ between engineering and humanities boils over
At India's premier engineering schools, the humanities and social sciences or HSS have become a put-down. "Oh, you're being so HSS" is what students say to anyone seen as too "woke". This tension has now surfaced again at IIT Bombay where the protests following the passing away of student Sahil Wakode, were largely lead by humanities doctoral students. Engineers describe a "hyper-apolitical" campus, while humanities faculty say that the division comes from a shallow idea of education. Critics outside the campus though, have questioned the need for humanities in these institutes in the first place, and have called for the departments to be shut, though humanities have been part of the plan for IITs since 1945. So, why does the IIT humanities student draw so much hostility, and why can't they talk it out? Tune in. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#873
November 4 · 8 min
Gen Z wants to own a home. The math says inherit one
India’s homes cost 11 times annual income, more than double the affordability benchmark, and real wages fell 4% between 2012 and 2024. For Gen Z, buying a house on a salary alone barely adds up. Inheritance is filling some of the gap, with gift deed registrations rising sharply in Mumbai, Pune and Delhi. But family property often comes late, comes split, or comes with conditions. What happens to the much larger group with no property to inherit at all? Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#872
November 2 · 12 min
Vodafone Idea’s losses are halving and its stores are buzzing. The hard part comes next
For years, Vodafone Idea (Vi) kept losing subscribers. Since February, that’s stopped, and the company is now pushing hard with unlimited data, family plans and stacked offers, even roping in Shah Rukh Khan. Its losses are shrinking, AGR dues are falling and margins are at a decade high. But Airtel and Jio are still growing far faster, and Vi’s market share keeps slipping. In this episode, we look at what’s changed on the ground, the ₹45,000 crore capex plan still awaiting funding, and whether Vi can hold on to the customers it’s winning. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#871
November 1 · 15 min
Sacred Games put Netflix India on the map. Roadies is how it plans to stay there
Netflix paid 175 crore for the Hindi version of a single blockbuster. For a season of Roadies, the college-favourite reality show, it reportedly paid 18 and even agreed to share it with rival JioHotstar, something you wouldn't expect a platform built on exclusivity to do. Today, on our first video episode of Daybreak, we look at the platform that made its name on shows like Sacred Games and Lust Stories ended up here. The answer runs through the family living room, a growing fear of offending someone, and how often you open the app. The question is: is the pivot working? And, what does it cost? Credits: Host: Rachel Varghese Journalist: Debanjali Biswas Direction: Rajiv CN Video Producer: Rajiv CN Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#870
October 29 · 14 min
How to ‘manufacture’ an Ivy League applicant
Getting into a top American university has become a mountain of research papers, social projects and competitions. And wealthy Indian families are now starting the climb when kids are 14. In this episode, host Rachel Varghese reads out Vishnu Prakash's piece from The Ken's newsletter, Make India Competitive Again: "How to 'manufacture' an Ivy League applicant". It looks at why premium consultancies more than Rs. 5 lakh a year are booming, even as Indian departures abroad fall, what an anxious parent's money actually buys, and who really does the work behind a student's "personal profile". Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#869
October 28 · 24 min
JioHotstar’s real overseas rival is a $10 per month pirate box
JioStar has taken JioHotstar to the UK, Canada, Singapore and the Middle East. It's chasing roughly 37 million Indians living abroad, and their taste for content from back home. But frustrated by geolocked content and a lack of accessibility for regional content, many of those viewers have turned to less legal options. One of them is an unlicensed box that can cost as little $10 a month, and come with 5000 channels and access to the libraries of major OTT players. We spoke to eight households about what they watch, why streaming rights and shared logins make things complicated, what the box offers that apps don't, and if what JioHotstar is offering instead can match up to it. Tune in. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#868
October 27 · 10 min
India's instant home help boom has a pricing problem
Investors are calling India's home-services market quick commerce's next big moment. Instahelp, Snabbit, and Pronto are betting big on it. They're sending trained workers to your door in under 10 minutes, at prices cheaper than a coffee. Orders, naturally, are in the millions. But the difference is that quick commerce eventually figured out how to make money. Here, on the other hand, 82% of consumers have already said they won't pay more than Rs 200 an hour. And on every order placed today, the market leader is losing twice what it earns. So who exactly is this boom working for? Tune in. *This episode was originally published on 29th April 2026 Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#867
October 26 · 11 min
Without a UPI, Africa pays a toll on cash. Airtel Money collects it
Airtel Money is now trading in London, valued at about $7 billion. The African mobile-money company made $373 million in profit last financial year. It is based on a simple model. Depositing cash is free. Customers pay mainly when they take money out as cash, and sometimes when they send it. In markets where most adults have no bank account, those fees add up. Bharti Airtel's Indian business, Airtel Payments Bank, takes a roughly similar cut. But it only made $12 million. Most of this difference comes down to UPI, which moves money in India for free. Now Airtel Money's own markets are building their versions of UPI. What happens to its toll on cash? Also listen to: Why your Diwali shopping is more important than implementing MDR on UPI Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#866
October 25 · 11 min
Ajio wants to course-correct, but Reliance Retail’s shadow looms large
Reliance has a lot to celebrate. The bidding for Jio IPO closed on Friday, more than 20 times subscribed, and with India's biggest valuation ever; the shares will list on Wednesday. But the Ambani empire is bigger than just Jio, and not every member of the conglomerate is getting attention. Take Ajio, which is heading into the competition of festive season with falling traffic, trimmed marketing and discounts, and big brands focusing more on Myntra. The new CEO of digital business, including Ajio, is Sandeep Karwa. He has the right experience, but executives told The Ken that the investment necessary hasn't arrived yet, and Reliance's control on decisions and payments limit his freedom. In this read aloud of Nuha Bubere's newsletter edition of Trade Tricks by host Rachel Varghese, we look at whether Karwa can turn Ajio around. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#865
October 22 · 14 min
Dogs have a nose for cancer. An Indian startup is betting on them
Less than 1% of Indians get tested for cancer, and with full body scans costing as much as Rs 25,000, it's not surprising. Dognosis, a Bengaluru startup, has a solution. It trains dogs to sniff out cancer early, runs their responses through a Bayesian model, and compares the results with patient history to assign a score. The co-founder eventually plans to have just 15 dogs screen 2,50,000 patients in a year. The company's first service, Breatheeasy, will launch early next year, and is being called a "triaging" tool. But experts wonder if animals can scale like this, and if dog noses could actually be the cheap, non-invasive screening that India needs. Tune in. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#864
October 21 · 10 min
India’s largest financial-sector FDI is coming. But what does the public get?
On 14 October, the Cabinet approved selling nearly 61% of IDBI Bank to the Canadian firm Fairfax for nearly ₹53,000 crore. Once completed, it will be the largest FDI in India’s financial sector. But IDBI was rescued with public money, largely through LIC. Now LIC stands to get back roughly what it put in. The government and LIC who will now hold roughly a third are set to hand over management control to Fairfax. IDBI employees, meanwhile, are planning a hunger strike against the sale. Was ₹81 a share fair? And what does the public get in return? Tune in. This episode is edited by Arnav Prakash Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#863
October 20 · 12 min
Why your Diwali shopping is more important than MDR on UPI
Around mid-September, shops in parts of Ghaziabad started putting up signs: carry cash, because UPI wouldn’t be accepted. They were protesting a new 0.4% merchant fee on UPI payments above 2,000 rupees, which was due to start on October 15. Two days before that, NPCI, the body that runs UPI, put it on hold until after Diwali. On this episode, we look at what the fee is, where the money would go, why shoppers aren’t supposed to pay it, and whether that will stay the case once the festive season ends. This episode is edited by Arnav Prakash Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#862
October 19 · 9 min
After making a fortune at the dock, Adani's next bet is a fleet of 100 ships going offshore
In October last year, a ship owned by Adani Ports slowed to less than one knot near Malta. It held that position for over seven days, directly above the cables linking Malta to Sicily. It was no accident. India’s largest private port operator has quietly built a fleet of more than a hundred vessels across 12 countries. Their job is servicing the world’s offshore energy infrastructure. The business grew 134% in a single year. Ports made Adani rich. But there are only so many ports you can build. What the conglomerate does next may depend on waters far from any dock. Tune in. *This episode was originally published on 14th July Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#861
October 18 · 14 min
Air India needs saving. Singapore Airlines is playing saviour
Air India's recent losses nearly doubled to 22,000 cr rs, and Tata Sons chairman N Chandrasekaran keeps showing up at its Delhi Headquarters. Singapore Airlines, which owns over 25%, is inclined to put in more cash, but in return, it wants more control over operations, costs, safety and training. And it's already changing the way pilots, engineers and cabin crew work. Meanwhile, Air India's troubles lie somewhat out of its hands. Pakistan's airspace closure hit it the hardest, and compounding its now longer routes for certain flights are soaring fuel prices. There's also delayed deliveries of new aircrafts. And of course, the reputational damage from 2025 Ahmedabad crash. Singapore Airlines' is definitely the best chance for the company's turnaround. Tune in. Listen: The Government sold Air India to escape its problems. The fix is to buy back in This episode is edited by Arnav Prakash Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
#860
October 15 · 1 hr 19 min
What happens when you put Indian business on a 2x2?
In this Daybreak x Two by Two crossover, host Snigdha Sharna turns the tables on Praveen Gopal Krishnan to look beyond individual companies and industries, and at the bigger patterns connecting them. From duopolies under attack and startups struggling to justify their valuations, to the rules regulators are rewriting, AI’s impact on jobs, and how Indians are changing the way they live, we explore what these stories reveal about where Indian business is headed. Which old assumptions are breaking down? Who stands to win or lose? And what should we be watching next? As The Ken's Two by Two wraps up its second season, we connect the dots and look ahead to Season 3.
#859
October 14 · 10 min
India’s food inflation has layers. The onion is only the first
On October 12, government data showed India’s food inflation rose to 7.7% in September, led by onion prices that more than doubled from a year earlier. Back in May, onion growers in Nashik wore garlands of onions and tried to block the Mumbai–Agra highway because prices had fallen to ₹4 to ₹6 a kilo. The government says India grew almost as many onions as the year before, and it kept a stockpile for exactly this kind of spike. Prices rose anyway, and rural households are feeling it most. Why is it so hard to keep India’s kitchen affordable? Tune in. India’s LPG success story runs on a two-day buffer, March 15, 2026, 11 minutes. Listen India solved the wrong oil problem first, 31 Jul 2026, Listen The great Indian sugar trap: how a decade of surplus left India with nothing to spare , 28 Aug 2026, Listen This episode is edited by Arnav Prakash Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

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