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India Dispatch

Manish Singh

Insights and commentary on India market, VCs and startups.

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Substack
PricingOnly free issuesPublishesWeekly
Issues168Foundeda year agoLast Issue17 days ago
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Latest Issues

The Indian IT Compounding Machine Has Stopped Compounding

India’s IT services giants have successfully defended profitability over the last four years, but the model that once made those profits compound is now visibly beginning to fray.

Full-year FY26 operating margins held across the six larges...

17 days ago
18
2

How Big is India's E-commerce Market? Don't Ask Bain.

India’s online shopping market is very hard to forecast. It has 1.4 billion people, spread across income levels, languages and infrastructure realities that vary vastly between regions. Its total retail market is worth somewhere around $1 t...

a month ago
26
3

Speaking Volumes

In 2017, the Wall Street Journal wrote a story about a porter at New Delhi’s railway station. Megh Singh, the porter, earned less than eight dollars a day, had never sent an email and was not comfortable with a keyboard. He was using voice...

a month ago
14

Distribution Is Still Destiny

In parts of Uttar Pradesh, the largest Indian state, a single wholesale distributor can reach 50 to 60 villages. Snack maker Balaji has built its factories close to those clusters, keeping the chain between factory and shop as short as poss...

2 months ago
10

India's Insurance Commission Problem

When someone in India buys an insurance policy, the company that sells it typically doesn’t find the customer on its own. An agent, a broker, or an online platform like Policybazaar provides that service — and the insurer pays them a commis...

2 months ago
8
1

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