From Amitabh Chaudhry's bid to challenge top banks to Dell's AI pivot, our top stories of the week
In this week's newsletter, also read about why MSCI's latest index reshuffle could usher in fresh foreign capital; how Angara is turning India into a launchpad for global luxury, and why Freshworks founder Girish Mathrubootham believes disruption demands rule-breaking
Amitabh Chaudhry, MD and CEO, Axis Bank. Image: Mexy Xavier
In the shadows of India’s banking behemoths, Axis Bank CEO and MD Amitabh Chaudhry is reshaping the bank’s DNA. From reimagining digital infrastructure to aggressively expanding in retail and SME lending, strategies are being implemented for future success. With the acquisition of Citibank’s consumer business and an eye on cross-selling, Axis is starting to chip away at the dominance of HDFC Bank and ICICI Bank. However, challenges remain, from legacy perceptions to execution risks in a slowing macro environment. Still, if measured leadership and long-term vision are what it takes, Chaudhry seems ready to play the long game.
2) The AI pivot and India
Alok Ohrie, President and MD, Dell Technologies India. Image: Nishant Ratnakar for Forbes India
As Dell Technologies pivots sharply into the AI economy, India is emerging as a critical piece of its global strategy. With nearly a third of its workforce based in the country, India is a talent hub, a sandbox for deploying AI-led services, a lab for streamlining enterprise infrastructure, and a market for accelerating demand across sectors like BFSI, manufacturing, and retail. Dell’s India leaders believe the country’s massive SMB base and digital-forward enterprises make it fertile ground for scalable AI applications. In many ways, India is no longer just part of the supply chain—it’s now a testbed for Dell’s innovation edge.
3) Another false start?
Image: GettyImages
After years of volatility, asset quality concerns, and the most recent leadership churn, IndusInd Bank appears to be stabilising. With improvements in profitability, better credit cost control, and more measured loan growth, the bank is gaining investors’ cautious confidence. Analysts are watching the bank as the RBI-approved ‘Committee of Executives’ navigates legacy baggage and fierce sectoral competition. The bank now has a strong responsibility to improve internal compliance and audit processes. But the question remains: Is this a true turnaround, or merely a pause before the next shake-up?
Discover
1) MSCI’s reshuffle
Image: Shutterstock
MSCI's May 2025 index rebalancing includes Coromandel International and FSN E-Commerce Ventures (Nykaa) in its Global Standard Index, effective after market close on May 30. This move is expected to attract approximately $252 million for Coromandel and $199 million for Nykaa, according to Nuvama Alternative & Quantitative Research. In the APAC region, only India has seen no stock deletion in the Global Standard index, signalling increased investor confidence. Additionally, India's weight in the MSCI Emerging Markets Index has risen to 19.21% as of April 2025, reflecting the country's growing prominence in global equity markets. These changes are anticipated to bolster foreign investment in Indian equities.
2) Crafting a billion-dollar luxury brand
Partners in life and business: Ankur and Aditi Daga, co-Founders of Angara
Angara, the direct-to-consumer fine jewellery brand founded by husband-wife duo Ankur and Aditi Daga, is betting on India, not just as a sourcing base, but as a strategic market. With India’s growing appetite for digitally-savvy luxury and customised experiences, the US-born brand's cofounders are using the country to refine their tech stack, scale design operations, and test new product categories. Their ultimate goal: to become a $1 billion brand by tapping into India’s manufacturing heritage and rising affluence. It's an innovative blend of global ambition and local leverage.
3) Break the rules
Girish Mathrubootham, founder, Freshworks
Girish Mathrubootham, the irreverent founder of Freshworks, is known for challenging conventional wisdom. In his new book, he reflects on what it takes to scale a global SaaS company from India—emphasising the value of hiring misfits, ignoring venture herd mentality, and making peace with failure. More than a memoir, it’s a rallying cry for entrepreneurs to ditch rulebooks and lean into their unique context. In this conversation with Forbes India, Mathrubootham discusses the book, part inspiration and part instruction manual for India’s next wave of tech builders.
4) The virologist who picks healthcare stocks
Michael Taylor at a philanthropy conference in Florida. “Within 50 years—probably 20—we are going to have the first versions of drugs that profoundly change the way we age.” Image: JAMEL TOPPIN FOR FORBES
Dr Michael Taylor’s journey is anything but conventional. A virologist-turned-investor, Taylor is redefining Wall Street's playbook with his Simplify Health Care ETF. His unique vantage point is grounded in both science and human vulnerability, and that helps him spot long-term healthcare trends before they hit the mainstream. From oncology breakthroughs to diagnostics plays, Taylor’s story is a reminder that empathy and insight can make for potent investment tools.