India is winning in business - thanks to Trump
here's what's up
Happy Wednesday!
Today’s edition dives into a surprising twist in India’s business story, one where Donald Trump plays an unexpected supporting role.
Yep, turns out the former U.S. President’s policies may have accidentally given Indian businesses the global runway they needed.
So, let’s connect the dots…
📌 How are US tariffs turning into a big win for Indian businesses
It’s not often that tariffs sound like good news, but for Indian companies, they just might be. Thanks to U.S. tariffs, especially those ramped up during Donald Trump’s presidency, Indian firms are suddenly looking a lot more attractive to American partners.
Top companies like Dixon Technologies, Tata Consumer Products, Blue Star, Havells, and Arvind are reporting a surge in export inquiries from U.S. associates.
Why?
Because tariffs on Chinese goods are high, and India’s lower rates, plus talk of an India-U.S. bilateral trade agreement (BTA), make it a compelling alternative.Dixon’s Managing Director, Atul Lall, mentioned a 50% capacity expansion to meet growing North American demand. While he didn’t name brands, analysts believe Dixon is exporting Motorola phones and could soon produce Google Pixel devices for the U.S. market.
Meanwhile, Arvind’s Punit Lalbhai said some American clients faced cost hikes, which hit margins temporarily, but order volumes are up. He’s optimistic that margins will stabilize and garment exports will grow significantly this year.
Gokaldas Exports, too, sees this as India’s moment, especially with Chinese tariffs still elevated and Bangladesh facing political instability.
Even Havells has shipped its first India-made air conditioners to the U.S., with more expected soon.
Tata Consumer’s Sunil D’Souza added that exports like coffee and tea remain competitive, while Titan is closely watching price shifts as the BTA gains momentum.
The bottom line is Indian companies are ramping up production and eyeing the U.S. as a growth hotspot, thanks, ironically, to a policy meant to do the opposite.
📌 The only IPO you need to know about today
All eyes are on Belrise Industries as it gears up for its big debut on the BSE and NSE today, May 28.
The company’s ₹2,150 crore IPO closed on May 23 after a strong three-day run, and the allotment was finalized on May 27.
So, why the hype?
According to the grey market, Belrise shares are trading at a ₹24 premium over their issue price of ₹90, indicating an expected listing price of ₹114 per share, that’s a neat 25% premium. Not bad for day one!
Analysts believe this bullish sentiment is backed by strong fundamentals.
Belrise is a key player in the automotive components sector, especially in the EV and commercial vehicle space. It commands a 24% market share in India’s two-wheeler metal components segment and has shown consistent revenue growth.The IPO itself was a hit, subscribed 41.30 times overall:
4.27x by retail investors
108.35x by QIBs
38.33x by NIIs
With such strong demand, experts like Mahesh M. Ojha from Hensex Securities and Prashanth Tapse from Mehta Equities are optimistic about a strong listing.
They cite the company’s OEM partnerships, appealing valuation, and leadership in its segment as key factors attracting investor interest.
📌 Unacademy’s founders are taking a step back
Big shifts are happening at Unacademy.
Co-founders Gaurav Munjal and Roman Saini are reportedly planning to step away from their operational roles in the next 2–3 months. But this isn’t just an exit, it’s a pivot.
The duo is in advanced talks with the board and investors to spin off Airlearn, Unacademy’s growing language learning app, into a separate company.
Gaurav is expected to lead the new venture, which already boasts 70,000 daily active users and $2 million in annual recurring revenue, pretty solid for a product that’s quietly competing with giants like Duolingo.Inside Unacademy, succession plans are underway.
Graphy’s founder, Sumit Jain (who became a partner after co-founder Hemesh Singh moved into an advisory role), is expected to take over the offline business.
Meanwhile, a new leadership team is being assembled for Unacademy’s core online operations.
This move comes after months of internal restructuring.
Munjal, who had expressed his desire to step back earlier, was asked by the board to first slash the company’s cash burn, which he did. Unacademy has now brought its burn rate down from over ₹1,000 crore annually to under ₹200 crore, and claims to be in a “default alive” state with ₹1,250 crore still in the bank.
The spin-off seems nearly set with over 90% alignment between the founders and board, with final touches being added around equity. Interestingly, existing Unacademy investors have been offered a shot at investing in Airlearn too.
So, that’s it for today. If you enjoyed this edition, subscribe to hear from us every day!
See ya 👋
