From Ajay Singh's turnaround attempt at SpiceJet to the Tesla challenge for Indian EV makers, our top stories of the week
In this week's newsletter, also read about the effects of Donald Trump's tariff war on India, JioHotstar's plans, K Ganesh's lessons for a new business model, and Chef Regi Mathew's New York ambition
1) A survivor
Ajay Singh, Chairman and Managing Director of SpiceJet Image: Madhu Kapparath
Ajay Singh bought the defunct ModiLuft, a private airline based in Delhi, in 2005. He renamed it SpiceJet a year later and made it one of the most recognisable budget airlines in India. He left it in 2010 when Kalanithi Maran, chairman and managing director of the Sun Group, bought the airline. In January 2015, SpiceJet was on the ventilator, having posted Rs1003.24 crore in losses and stacking up mountainous debt. Singh took the reins and rewarded the bankers who trusted him with 17 consecutive quarters of profitable growth. A decade later, the chairman and MD of SpiceJet finds himself in a similar quagmire. Can he do the unthinkable once again?
2) The Tesla challenge
Elon Musk, CEO of Tesla Image: Suzzanne Cordeiro / AFP
Will he? Won't he set up shop in India? This has been the question since Elon Musk's Tesla Motors gained popularity. The Indian government's push for manufacturing electric vehicles was one of the red-carpet features for the Texas-based company to set up a base in the country. There were a few false alarms before, but the automobile giant is set to launch operations in India this time. It is already scouting for employees and has reportedly zeroed in on Mumbai and New Delhi to set up its first showrooms. So, how will the homegrown auto companies deal with this impending disruption? Are they prepared to take on this formidable challenge?
3) Trump, tariffs, and India
Indian Prime Minister Narendra Modi gestures during a joint press conference with U.S. President Donald Trump at the White House in Washington, D.C., U.S., February 13, 2025. REUTERS/Kevin Lamarque
US President Donald Trump has either levied or threatened many countries with trade tariffs. The latest threat is the proposal to implement a 150 percent tariff specifically designed for BRIC nations. These decisions have disrupted trade and supply chains globally while equities and currencies have rattled. India is no exception. "Whatever India charges, we charge them,” US President Donald Trump said while standing next to Prime Minister Narendra Modi during a joint press conference on February 13. “So, frankly, it no longer matters to us that much what they charge. We are being reciprocal with India.” So how can India deal with this looming threat? Here are some expert views.
