India’s professional class has mastered private foresight: SIPs, retirement corpus, private schools, private healthcare. What it has not built with the same patience is collective power. My piece for @policy_circle .

An insightful take on the challenge ahead for the Tata Group. The group will emerge stronger. They always have.

One of the best pieces you will read on VD Satheesan, and it has nothing to do with his politics. It is more of a testament of why Kerala looks, feels, and acts differently from the rest of the country. Beautiful piece, @mknid

The @FT article by @christopherkay describes India's post-patent GLP-1 market as a "bloodbath," with roughly ten drugmakers already in, fifty generic brands of semaglutide expected, and Nomura estimating Indian generic pricing at Rs 3,500–8,000 per month against Rs 11,000–16,000 for western-branded versions. This competitive dynamic is commercially coherent but institutionally underprepared. Three governance gaps stand out: 1) First, prescribing rights currently extend to any registered medical practitioner, from a diabetologist to a GP, which is adequate for a thin specialist market but becomes a patient safety question as generic-driven price reductions push demand toward general physicians with limited chronic metabolic disease training; the FT article's opening anecdote, notably, is set in an aesthetics clinic. 2) Second, CDSCO has issued an advertising ban covering influencer promotions and disease awareness campaigns, which addresses the most visible promotional excess but does not constitute a prescribing protocol or a quality assurance framework for fifty brands whose active pharmaceutical ingredients are, by Novo Nordisk's own account, largely being synthesised with Chinese inputs whose consistency at scale is unverified. 3) Third, India has no insurance architecture for obesity as a chronic disease, no formulary inclusion, no reimbursement structure, no classification mandate, at a moment when the WHO has formally designated obesity a lifelong condition requiring sustained treatment, and when the US, which did build coverage reactively, has just watched twelve million patients lose it in a single year as benefit structures collapsed under cost pressure. The market will scale regardless; the question is whether the institutions that should govern it are being built in sequence or in arrears. @_jesthetic ft.com/content/022ec18d-f3e9…