Amit's Blog

How Blinkit's profitable scale, Zepto's capital-intensive growth, and the economics of quick commerce are reshaping India's consumer internet industry India's quick-commerce industry has rapidly evolved from a pandemic-era experiment into one of the country's largest digital commerce sectors. The competitive landscape has crystallized around two dominant players—Blinkit and Zepto—with Swiggy Instamart and BigBasket playing smaller but important roles. Blinkit, backed by Eternal, has emerged as the market leader while demonstrating that rapid growth and profitability can coexist. Zepto has pursued a different strategy, prioritizing speed of expansion through unprecedented capital raising. The contrast between the two companies provides valuable insights into capital efficiency, valuation, and business quality. Blinkit's success has fundamentally changed Eternal's investment thesis, making quick commerce rather than food delivery the company's principal ...

India’s Path to Upper-Middle-Income Status by 2050: Challenges and Opportunities   India, with its 1.4 billion people and rapidly growing economy, stands at a critical juncture in its development trajectory. Eighty years ago, most countries that were poor remained so, with rare exceptions like oil-rich nations aligned with the United States or those benefiting from US-led security and economic support, such as Japan, South Korea, and Singapore. China’s remarkable rise since the 1980s offers a partial exception, though it has not yet fully transitioned to high-income status. India, lacking vast natural resources or a geopolitical patron, faces a unique challenge: can it achieve upper-middle-income country (UMIC) status, defined by the World Bank as a GNI per capita between $4,516 and $14,005 (2024 thresholds), within the next 25 years? This essay explores India’s prospects, drawing on historical precedents, current economic trends, and expert insights. It examines whether India ...

  Executive Summary Over the past 25 years, India and the Association of Southeast Asian Nations (ASEAN) have emerged as dynamic economic forces, each leveraging unique strengths to ascend the global stage. India has transformed from a state-controlled, agrarian economy into a services-driven powerhouse, fueled by a youthful workforce and digital innovation. ASEAN’s ten member states—Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam—have capitalized on export-led industrialization and regional integration to establish themselves as a manufacturing and trade hub. This paper provides a detailed comparison of their economic trajectories, identifying ten major structural differences, areas of complementarity and competition, and the multifaceted impacts of the ASEAN-India Free Trade Area (AIFTA). It examines India’s persistent trade deficit with ASEAN, the associated risks and opportunities for both sides, and the potential for narrowin...