From RC Bhargava's big rethink on boosting car sales, to the ESG storm disrupting clean mobility, our top stories of the week

In this week's newsletter, also read about Shivangi Singh's flight path from fighter jets to space, Blue Jet Healthcare writing a new kind of Indian pharma story, and much more

By Forbes India

Published: May 10, 2025 10:00:00 AM IST

1) Auto reset

RC Bhargava, chairman, Maruti Suzuki

India’s car industry is stuck on a growth plateau, and RC Bhargava, chairman of Maruti Suzuki, believes it’s because the market has ignored a fundamental demographic: two-wheeler owners. In an exclusive interview, Bhargava unpacks why India’s vehicle ownership pyramid is so sharply skewed, how affordability remains the elephant in the room, and why policy, product design, and financing models must align to catalyse a new wave of middle-class car buyers. His take is a critique and a roadmap for the next phase of auto growth in India.

2) Silent disruptor

Akshay Arora (seated), chairman, with son Shiven Arora, managing director, Blue Jet Healthcare Ltd Image: Mexy Xavier

For years, Blue Jet Healthcare operated in stealth mode—quietly building a profitable business in a particular niche: Contrast media, the chemical agents used in diagnostic imaging like MRIs and CT scans. With deep technical expertise, a robust patent portfolio, and a capital-light model, the company, founded in 1968, is now reaping the rewards of staying niche and global. Its recent IPO was more than a liquidity event; it signalled the rise of a new kind of Indian pharma story, rooted in specialisation, not scale.

3) On the edge of green manufacturing

Hitesh Doshi, chairman, Waaree Group. Image courtesy: Waaree Energy

Waaree Energies, one of India’s largest solar panel manufacturers, is on a mission to put the country on the global clean energy map. With a 13.3 GW production capacity in five manufacturing facilities spread across 143 acres in India, and plans to ramp up backward and forward integration, the company is riding the dual wave of India’s domestic push for renewable energy and global diversification away from Chinese suppliers. In October 2024, Waaree Energies listed on the Indian bourses at a 70 percent premium to its initial public offering. Its story is emblematic of how India’s green industrial policy is powering up real businesses.

1) Blurring the lines

Colossal1 was started in 2021 by serial entrepreneur Ben Lamm, a 43-year-old Texan, and the company describes itself as being in the “de-extinction” business. Image: John Davidson

Ben Lamm isn’t just another tech entrepreneur chasing moonshots—he’s trying to bring back the woolly mammoth. His startup, Colossal Biosciences, is backed by big-name VCs and even celebrities like Paris Hilton and director Peter Jackson. It aims to use gene editing to resurrect extinct species. But behind the spectacle lies a serious application of biotech, with implications for conservation, climate science, and synthetic biology. In the process, Lamm is creating an entirely new industry that blurs the line between science fiction and sustainable science.

2) Under the scanner

Gensol Engineering and BluSmart Mobility are grappling with allegations and a Securities and Exchange Board of India (Sebi) investigation. Illustration: Chaitanya Surpur

The recent public controversy involving Gensol Engineering and BluSmart Mobility—two companies once hailed as poster children of India’s electric mobility revolution—has sparked deeper conversations about governance, transparency, and the real value behind ESG tags. As investors look beyond glossy green credentials, this incident underscores the need for sharper scrutiny, better due diligence, and stronger regulatory frameworks to avoid impact-washing.

3) The smart playbook

Image: REUTERS/Priyanshu Singh

Zudio—Tata Group’s low-cost fashion chain—has quietly rewritten the script for affordable retail in India. With over 400 stores and a hyperlocal design-to-shelf model, Zudio is winning the volume game by keeping prices below ₹999 and churn rates high. Its no-frills, high-turnover strategy appeals to budget-conscious and Gen Z shoppers and delivers enviable profit margins in a notoriously tight segment. In an era of vanity valuations and scaling woes, Zudio’s story is one of rare clarity: Make trendiness cheap, make operations lean, and watch money pour in.

4) Sky-high ambitions

Lieutenant Shivangi Singh of the Indian Air Force (IAF) attending an interview with AFP at the Air Force Museum in New Delhi. Image: Arun SANKAR / AFP

The first time Lieutenant Shivangi Singh took the controls of a fighter jet, it was a MiG-21. She has already made history as one of the first women to fly the Indian Air Force’s supersonic Rafale jets. Now, she’s aiming for orbit. Singh has set her sights on India’s space programmes and astronaut training missions. Her story is one of resilience, precision, and refusal to be boxed into traditional roles—echoing the aspirations of countless young Indian women entering aviation, defence, and STEM.