Intermission Transistor (https://transistor.fm) https://feeds.transistor.fm/intermission Every great Indian enterprise has a story worth telling in full. With Intermission, The Ken's flagship long-form podcast, hosts Rohin Dharmakumar and Seetharaman G do exactly that—tracing the origins, turning points, and defining strategies of the companies that shaped modern India. © 2026 Kenrise Media Private Limited 8f51c137-3c64-5b8c-bdc7-060efa687900 no TRAILER - ITC: The remaking of a giant | Intermission E04 | The Ken TRAILER — How Bharti Airtel Refused to Die | Intermission E03 | The Ken en Mon, 17 Aug 2026 06:21:33 +0530 Mon, 17 Aug 2026 06:22:47 +0530 http://the-ken.com https://img.transistorcdn.com/zHfcxiU0R_ezB01Lt9Kb308PdTSBBzqBTRAHDv80k38/rs:fill:0:0:1/w:1400/h:1400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8wNDJh/ZDIzYWIzYTFhNjNm/OTUxYjNjNTY3OGUw/ODAxMi5wbmc.jpg Intermission http://the-ken.com episodic The Ken Every great Indian enterprise has a story worth telling in full. With Intermission, The Ken's flagship long-form podcast, hosts Rohin Dharmakumar and Seetharaman G do exactly that—tracing the origins, turning points, and defining strategies of the companies that shaped modern India. Every great Indian enterprise has a story worth telling in full. business stories, india, company histories The Ken intermission@the-ken.com No No ITC: The remaking of a giant | Intermission E04 | The Ken 4 4 ITC: The remaking of a giant | Intermission E04 | The Ken full b1624372-c844-4b11-9c9f-3bc8c170ec06 https://share.transistor.fm/s/c7789ba7 ITC is the great paradox of Indian business: a tobacco company that spent decades trying to become something other than a tobacco company, and pulled it off. 

Getting there meant surviving a tax demand five times its net worth, the arrest of two former chairmen, and a long, bruising war with BAT for control of the company. It meant winning at atta when even Hindustan Unilever couldn't, rewiring how India's farmers sell their crops, and building it all without a founder or a family at the helm.

Today ITC turns over roughly ₹80,000 crore, owns a ₹9,000 crore brand in Aashirvaad alone, and counts the Indian government as its single largest shareholder. Among them, LIC, which insures the lives of the very smokers keeping ITC's profits alight.

This is the story of how a colonial cigarette company became one of India's most valuable — and most unlikely — conglomerates. Tune in!

---------

We also have an interactive companion page to explore the history of ITC with reading lists, infographics and source notes: https://the-ken.com/intermission/the-fmcg-company-in-a-cigarette-pack-itc/

----------

Credits: 

Hosts: Rohin Dharmakumar, Seetharaman G
Podcast Producer: Vidhatri Rao 
Director: Vijay Subramaniam
Video Producer: Vishnu S
Sound Design and Technical Producer: Rajiv CN
Lead Researcher: Raghav Batra
Art Direction: Kavipriya OG
Data Visualisation: Anuj Debnath

Production Agency: Nesara Films
Creative Direction: Sunayana Kashyap
DoP: Subash KP
Animation:⁠⁠ Karthik N
Video Editing Team: Spandan Joshi, Prajwal
Colourist: Akhil Raj
Graphic Design and Styleframes: Anusha Sarah
On-Set Production: Veeresh and team
Production Coordination: Kevin Raj
Audio: ⁠⁠Murthy and team
Spot Edit: Girish
Set Design: Saanvi Joshi, Thejaswini

Promotions: Pranav Pate, Adhavan RK
Writer (Microsite): Brady Ng
Editor: Sumit Chakraborty
Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

----------

About Intermission: 

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1. 
Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken: 
The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠https://the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more. 

Follow The Ken on socials: 

Instagram: https://www.instagram.com/theken_web/
LinkedIn: https://www.linkedin.com/company/the-ken/
Twitter: http://x.com/thekenweb/

]]> ITC is the great paradox of Indian business: a tobacco company that spent decades trying to become something other than a tobacco company, and pulled it off. 

Getting there meant surviving a tax demand five times its net worth, the arrest of two former chairmen, and a long, bruising war with BAT for control of the company. It meant winning at atta when even Hindustan Unilever couldn't, rewiring how India's farmers sell their crops, and building it all without a founder or a family at the helm.

Today ITC turns over roughly ₹80,000 crore, owns a ₹9,000 crore brand in Aashirvaad alone, and counts the Indian government as its single largest shareholder. Among them, LIC, which insures the lives of the very smokers keeping ITC's profits alight.

This is the story of how a colonial cigarette company became one of India's most valuable — and most unlikely — conglomerates. Tune in!

---------

We also have an interactive companion page to explore the history of ITC with reading lists, infographics and source notes: https://the-ken.com/intermission/the-fmcg-company-in-a-cigarette-pack-itc/

----------

Credits: 

Hosts: Rohin Dharmakumar, Seetharaman G
Podcast Producer: Vidhatri Rao 
Director: Vijay Subramaniam
Video Producer: Vishnu S
Sound Design and Technical Producer: Rajiv CN
Lead Researcher: Raghav Batra
Art Direction: Kavipriya OG
Data Visualisation: Anuj Debnath

Production Agency: Nesara Films
Creative Direction: Sunayana Kashyap
DoP: Subash KP
Animation:⁠⁠ Karthik N
Video Editing Team: Spandan Joshi, Prajwal
Colourist: Akhil Raj
Graphic Design and Styleframes: Anusha Sarah
On-Set Production: Veeresh and team
Production Coordination: Kevin Raj
Audio: ⁠⁠Murthy and team
Spot Edit: Girish
Set Design: Saanvi Joshi, Thejaswini

Promotions: Pranav Pate, Adhavan RK
Writer (Microsite): Brady Ng
Editor: Sumit Chakraborty
Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

----------

About Intermission: 

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1. 
Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken: 
The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠https://the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more. 

Follow The Ken on socials: 

Instagram: https://www.instagram.com/theken_web/
LinkedIn: https://www.linkedin.com/company/the-ken/
Twitter: http://x.com/thekenweb/

]]> Mon, 17 Aug 2026 06:00:00 +0530 The Ken The Ken 8816 ITC is the great paradox of Indian business: a tobacco company that spent decades trying to become something other than a tobacco company, and pulled it off. 

Getting there meant surviving a tax demand five times its net worth, the arrest of two former chairmen, and a long, bruising war with BAT for control of the company. It meant winning at atta when even Hindustan Unilever couldn't, rewiring how India's farmers sell their crops, and building it all without a founder or a family at the helm.

Today ITC turns over roughly ₹80,000 crore, owns a ₹9,000 crore brand in Aashirvaad alone, and counts the Indian government as its single largest shareholder. Among them, LIC, which insures the lives of the very smokers keeping ITC's profits alight.

This is the story of how a colonial cigarette company became one of India's most valuable — and most unlikely — conglomerates. Tune in!

---------

We also have an interactive companion page to explore the history of ITC with reading lists, infographics and source notes: https://the-ken.com/intermission/the-fmcg-company-in-a-cigarette-pack-itc/

----------

Credits: 

Hosts: Rohin Dharmakumar, Seetharaman G
Podcast Producer: Vidhatri Rao 
Director: Vijay Subramaniam
Video Producer: Vishnu S
Sound Design and Technical Producer: Rajiv CN
Lead Researcher: Raghav Batra
Art Direction: Kavipriya OG
Data Visualisation: Anuj Debnath

Production Agency: Nesara Films
Creative Direction: Sunayana Kashyap
DoP: Subash KP
Animation:⁠⁠ Karthik N
Video Editing Team: Spandan Joshi, Prajwal
Colourist: Akhil Raj
Graphic Design and Styleframes: Anusha Sarah
On-Set Production: Veeresh and team
Production Coordination: Kevin Raj
Audio: ⁠⁠Murthy and team
Spot Edit: Girish
Set Design: Saanvi Joshi, Thejaswini

Promotions: Pranav Pate, Adhavan RK
Writer (Microsite): Brady Ng
Editor: Sumit Chakraborty
Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

----------

About Intermission: 

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1. 
Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken: 
The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠https://the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more. 

Follow The Ken on socials: 

Instagram: https://www.instagram.com/theken_web/
LinkedIn: https://www.linkedin.com/company/the-ken/
Twitter: http://x.com/thekenweb/

]]> business stories, india, company histories No TRAILER - ITC: The remaking of a giant | Intermission E04 | The Ken TRAILER - ITC: The remaking of a giant | Intermission E04 | The Ken trailer 5becd378-5329-4e37-8a8a-0ba9077b9935 https://share.transistor.fm/s/a63c22b6 Ask two generations of Indians what ITC is, and you'll get two completely different answers. 
That gap might be one of the most remarkable reinventions in Indian business.

The story goes all the way back to 1910 — to a British tobacco company that taught India how to smoke — and follows ITC's journey into food, paper, hotels and agri, all without a founding family, and with more boardroom drama than most thrillers.

The question at its heart: how does a company build a future beyond tobacco?

Episode 4 of Intermission on ITC goes live on Monday, 17 August. 

]]> Ask two generations of Indians what ITC is, and you'll get two completely different answers. 
That gap might be one of the most remarkable reinventions in Indian business.

The story goes all the way back to 1910 — to a British tobacco company that taught India how to smoke — and follows ITC's journey into food, paper, hotels and agri, all without a founding family, and with more boardroom drama than most thrillers.

The question at its heart: how does a company build a future beyond tobacco?

Episode 4 of Intermission on ITC goes live on Monday, 17 August. 

]]> Thu, 13 Aug 2026 12:25:03 +0530 The Ken The Ken 69 Ask two generations of Indians what ITC is, and you'll get two completely different answers. 
That gap might be one of the most remarkable reinventions in Indian business.

The story goes all the way back to 1910 — to a British tobacco company that taught India how to smoke — and follows ITC's journey into food, paper, hotels and agri, all without a founding family, and with more boardroom drama than most thrillers.

The question at its heart: how does a company build a future beyond tobacco?

Episode 4 of Intermission on ITC goes live on Monday, 17 August. 

]]> business stories, india, company histories No Intermission E03: Airtel 4 4 Intermission E03: Airtel full 3d86a9df-fb2e-48e4-a029-a1e35b48fac4 https://share.transistor.fm/s/a6c9e2ca
Stream a video, send a message, call a loved one. For nearly 474 million Indians, that connection runs through Bharti Airtel.


Over three decades, the company has made it through price wars, near-bankruptcy, a botched overseas acquisition, and two incursions from Reliance. Each time, it weathered the crisis and came back stronger. Investors who held on through every crisis have been rewarded with returns that match the best businesses in India. 


But the forces that shaped Airtel — regulation, technology, and competition — have never stopped moving. Jio is back, this time with a $110 billion bet on AI and data centres. The hyperscalers are customers today and competitors tomorrow. And the telecom industry is shifting from minutes to bytes to tokens. 


At the centre of it all is Sunil Bharti Mittal, a founder who operates with the intensity of someone still trying to prove himself, even after building a company worth more than $100 billion. He turns 70 in 2027. He wants to raise his family's stake in Airtel from 40% to 51% — a Rs 1 lakh crore buyback he believes can be funded through dividends and share repurchases over three to four years. The question that now hangs over Airtel is what happens to it when Mittal is no longer at its core.


Airtel has survived every version of telecom so far. But it hasn't fully solved its three-body problem yet.


Where does it go from here?



We also have an interactive webpage to explore the history of Airtel Finance with reading lists, infographics and source notes: https://the-ken.com/intermission/the-unkillable-network-bharti-airtel/

You can also watch the episode on Youtube: https://www.youtube.com/watch?v=O_dONpkY7-U

Corrections

In the interest of accuracy, this section documents any factual errors made during the episode, along with the correct information.

  • Light speed — Rohin said light travels at 200,000 km/s. The correct figure is roughly 300,000 km/s.
  • Gopal Vittal's age — Rohin said Gopal Vittal was in his 30s when he became CEO of Airtel. He was actually in his 40s. Seetha corrects this at 4:14:30.

----------

Chapters:

00:00 — Introduction
4:09— Chapter 1: Ludhiana — India's industrial Manchester
16:00 — Chapter 2: Delhi — School of power & hard knocks
41:07 — Chapter 3: Policy pivot and partnership model
1:09:27 — Chapter 4: The Reliance juggernaut's first attack
1:31:05 — Chapter 5: Akhil Gupta, the 2000s, and the art of financial judo
1:54:42 — Chapter 6: The Singaporean pillar
2:03:31 — Chapter 7: Gopal Vittal, the flawless executor from HUL
2:29:36 — Chapter 8: The Africa no-yes-no-yes story
2:45:02 — Chapter 9: The Airtel culture
2:59:47 — Chapter 10: The zero rating debacle
3:11:27 — Chapter 11: The three-body problem and the 2G scam
3:21:58 — Chapter 12: The Reliance juggernaut is now "Jio"
3:52:04 — Chapter 13: Airtel after/without Sunil Mittal

----------

Credits:

Hosts: Rohin Dharmakumar, Seetharaman G
Podcast Producer: Vidhatri Rao
Director: Vijay Subramaniam
Video Producer: Vishnu S
Sound Design and Technical Producer: Rajiv CN
Lead Researcher: Raghav Batra
Art Direction: Kavipriya OG
Data Visualisation: Anuj Debnath

Production Agency: Nesara Films
Creative Direction: Sunayana Kashyap
DoP: Subash KP
Animation:⁠⁠ Karthik N
Video Editing team: Sarthak Pujar, Jayesh Sahu
Colourist: Akhil Raj
Graphic Design and Styleframes: Anusha Sarah
On-Set Production: Veeresh and team
Audio: ⁠⁠Murthy and team
Spot Edit: Girish
Set Design: Saanvi Joshi, Thejaswini

Promotions: Pranav Pate, Adhavan RK
Writer & Editor (Microsite): Brady Ng
Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

----------

About Intermission:

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1.
Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken:
The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠https://the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more.

Follow The Ken on socials:

Instagram:   / theken_web 
LinkedIn:   / the-ken 
Twitter: https://x.com/thekenweb/

]]>
Stream a video, send a message, call a loved one. For nearly 474 million Indians, that connection runs through Bharti Airtel.


Over three decades, the company has made it through price wars, near-bankruptcy, a botched overseas acquisition, and two incursions from Reliance. Each time, it weathered the crisis and came back stronger. Investors who held on through every crisis have been rewarded with returns that match the best businesses in India. 


But the forces that shaped Airtel — regulation, technology, and competition — have never stopped moving. Jio is back, this time with a $110 billion bet on AI and data centres. The hyperscalers are customers today and competitors tomorrow. And the telecom industry is shifting from minutes to bytes to tokens. 


At the centre of it all is Sunil Bharti Mittal, a founder who operates with the intensity of someone still trying to prove himself, even after building a company worth more than $100 billion. He turns 70 in 2027. He wants to raise his family's stake in Airtel from 40% to 51% — a Rs 1 lakh crore buyback he believes can be funded through dividends and share repurchases over three to four years. The question that now hangs over Airtel is what happens to it when Mittal is no longer at its core.


Airtel has survived every version of telecom so far. But it hasn't fully solved its three-body problem yet.


Where does it go from here?



We also have an interactive webpage to explore the history of Airtel Finance with reading lists, infographics and source notes: https://the-ken.com/intermission/the-unkillable-network-bharti-airtel/

You can also watch the episode on Youtube: https://www.youtube.com/watch?v=O_dONpkY7-U

Corrections

In the interest of accuracy, this section documents any factual errors made during the episode, along with the correct information.

  • Light speed — Rohin said light travels at 200,000 km/s. The correct figure is roughly 300,000 km/s.
  • Gopal Vittal's age — Rohin said Gopal Vittal was in his 30s when he became CEO of Airtel. He was actually in his 40s. Seetha corrects this at 4:14:30.

----------

Chapters:

00:00 — Introduction
4:09— Chapter 1: Ludhiana — India's industrial Manchester
16:00 — Chapter 2: Delhi — School of power & hard knocks
41:07 — Chapter 3: Policy pivot and partnership model
1:09:27 — Chapter 4: The Reliance juggernaut's first attack
1:31:05 — Chapter 5: Akhil Gupta, the 2000s, and the art of financial judo
1:54:42 — Chapter 6: The Singaporean pillar
2:03:31 — Chapter 7: Gopal Vittal, the flawless executor from HUL
2:29:36 — Chapter 8: The Africa no-yes-no-yes story
2:45:02 — Chapter 9: The Airtel culture
2:59:47 — Chapter 10: The zero rating debacle
3:11:27 — Chapter 11: The three-body problem and the 2G scam
3:21:58 — Chapter 12: The Reliance juggernaut is now "Jio"
3:52:04 — Chapter 13: Airtel after/without Sunil Mittal

----------

Credits:

Hosts: Rohin Dharmakumar, Seetharaman G
Podcast Producer: Vidhatri Rao
Director: Vijay Subramaniam
Video Producer: Vishnu S
Sound Design and Technical Producer: Rajiv CN
Lead Researcher: Raghav Batra
Art Direction: Kavipriya OG
Data Visualisation: Anuj Debnath

Production Agency: Nesara Films
Creative Direction: Sunayana Kashyap
DoP: Subash KP
Animation:⁠⁠ Karthik N
Video Editing team: Sarthak Pujar, Jayesh Sahu
Colourist: Akhil Raj
Graphic Design and Styleframes: Anusha Sarah
On-Set Production: Veeresh and team
Audio: ⁠⁠Murthy and team
Spot Edit: Girish
Set Design: Saanvi Joshi, Thejaswini

Promotions: Pranav Pate, Adhavan RK
Writer & Editor (Microsite): Brady Ng
Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

----------

About Intermission:

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1.
Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken:
The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠https://the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more.

Follow The Ken on socials:

Instagram:   / theken_web 
LinkedIn:   / the-ken 
Twitter: https://x.com/thekenweb/

]]> Mon, 29 Jun 2026 05:00:00 +0530 The Ken The Ken 15621
Stream a video, send a message, call a loved one. For nearly 474 million Indians, that connection runs through Bharti Airtel.


Over three decades, the company has made it through price wars, near-bankruptcy, a botched overseas acquisition, and two incursions from Reliance. Each time, it weathered the crisis and came back stronger. Investors who held on through every crisis have been rewarded with returns that match the best businesses in India. 


But the forces that shaped Airtel — regulation, technology, and competition — have never stopped moving. Jio is back, this time with a $110 billion bet on AI and data centres. The hyperscalers are customers today and competitors tomorrow. And the telecom industry is shifting from minutes to bytes to tokens. 


At the centre of it all is Sunil Bharti Mittal, a founder who operates with the intensity of someone still trying to prove himself, even after building a company worth more than $100 billion. He turns 70 in 2027. He wants to raise his family's stake in Airtel from 40% to 51% — a Rs 1 lakh crore buyback he believes can be funded through dividends and share repurchases over three to four years. The question that now hangs over Airtel is what happens to it when Mittal is no longer at its core.


Airtel has survived every version of telecom so far. But it hasn't fully solved its three-body problem yet.


Where does it go from here?



We also have an interactive webpage to explore the history of Airtel Finance with reading lists, infographics and source notes: https://the-ken.com/intermission/the-unkillable-network-bharti-airtel/

You can also watch the episode on Youtube: https://www.youtube.com/watch?v=O_dONpkY7-U

Corrections

In the interest of accuracy, this section documents any factual errors made during the episode, along with the correct information.

  • Light speed — Rohin said light travels at 200,000 km/s. The correct figure is roughly 300,000 km/s.
  • Gopal Vittal's age — Rohin said Gopal Vittal was in his 30s when he became CEO of Airtel. He was actually in his 40s. Seetha corrects this at 4:14:30.

----------

Chapters:

00:00 — Introduction
4:09— Chapter 1: Ludhiana — India's industrial Manchester
16:00 — Chapter 2: Delhi — School of power & hard knocks
41:07 — Chapter 3: Policy pivot and partnership model
1:09:27 — Chapter 4: The Reliance juggernaut's first attack
1:31:05 — Chapter 5: Akhil Gupta, the 2000s, and the art of financial judo
1:54:42 — Chapter 6: The Singaporean pillar
2:03:31 — Chapter 7: Gopal Vittal, the flawless executor from HUL
2:29:36 — Chapter 8: The Africa no-yes-no-yes story
2:45:02 — Chapter 9: The Airtel culture
2:59:47 — Chapter 10: The zero rating debacle
3:11:27 — Chapter 11: The three-body problem and the 2G scam
3:21:58 — Chapter 12: The Reliance juggernaut is now "Jio"
3:52:04 — Chapter 13: Airtel after/without Sunil Mittal

----------

Credits:

Hosts: Rohin Dharmakumar, Seetharaman G
Podcast Producer: Vidhatri Rao
Director: Vijay Subramaniam
Video Producer: Vishnu S
Sound Design and Technical Producer: Rajiv CN
Lead Researcher: Raghav Batra
Art Direction: Kavipriya OG
Data Visualisation: Anuj Debnath

Production Agency: Nesara Films
Creative Direction: Sunayana Kashyap
DoP: Subash KP
Animation:⁠⁠ Karthik N
Video Editing team: Sarthak Pujar, Jayesh Sahu
Colourist: Akhil Raj
Graphic Design and Styleframes: Anusha Sarah
On-Set Production: Veeresh and team
Audio: ⁠⁠Murthy and team
Spot Edit: Girish
Set Design: Saanvi Joshi, Thejaswini

Promotions: Pranav Pate, Adhavan RK
Writer & Editor (Microsite): Brady Ng
Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

----------

About Intermission:

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1.
Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken:
The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠https://the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more.

Follow The Ken on socials:

Instagram:   / theken_web 
LinkedIn:   / the-ken 
Twitter: https://x.com/thekenweb/

]]> business stories, india, company histories No TRAILER — How Bharti Airtel Refused to Die | Intermission E03 | The Ken TRAILER — How Bharti Airtel Refused to Die | Intermission E03 | The Ken trailer 5b0db889-aacc-4a0d-8b7b-148b018cbd8a https://share.transistor.fm/s/824386ba Dozens of companies entered the Indian telecom market in 1994. 
Almost all of them are gone. 

One is still standing — and it's how a billion people connect today.

 Episode 3 of Intermission on Bharti Airtel goes live on June 29. 

]]> Dozens of companies entered the Indian telecom market in 1994. 
Almost all of them are gone. 

One is still standing — and it's how a billion people connect today.

 Episode 3 of Intermission on Bharti Airtel goes live on June 29. 

]]> Sat, 27 Jun 2026 19:51:43 +0530 The Ken The Ken 61 Dozens of companies entered the Indian telecom market in 1994. 
Almost all of them are gone. 

One is still standing — and it's how a billion people connect today.

 Episode 3 of Intermission on Bharti Airtel goes live on June 29. 

]]> business stories, india, company histories No Intermission E02: Bajaj Finance 3 3 Intermission E02: Bajaj Finance full 24e9ec78-e8a5-4e1e-a396-1f4dbc0a0f9a https://the-ken.com/story/why-you-cant-ignore-bajaj-finances-call/

Sell a Bajaj scooter, finance their EMIs. For years, that was the entire purpose of Bajaj Auto Finance. 

But consumers in India wanted much more. 

They outfitted their homes with new television sets, refrigerators, and washing machines. They wanted iPhones, hair transplants, fitness equipment and more.

Lending for those hinted at a much larger opportunity. And the Bajaj group seized it. 

Bajaj Auto Finance became Bajaj Finance. A legacy auto-financing arm went on to create India’s consumer credit infrastructure, shaping how millions buy things. 

Today, Bajaj Finance manages a loan book of over Rs 5 lakh crore, serves more than 119 million customers, and is valued roughly Rs 6 lakh crore. It is twice as large as Bajaj Auto, the parent company it was spun out of.

This is the story of how that happened. Tune in!

Our team has built an interactive webpage for Bajaj Finance. It’s a research guide to this episode. Check it out here: https://the-ken.com/story/why-you-cant-ignore-bajaj-finances-call/

Additional material: 

Saurabh Mukerjea’s analysis of Bajaj Finance: https://open.spotify.com/episode/70JSD3LIE16jcsGSjhjtr9?go=1&sp_cid=e2ae99a929ea25663dee6c3cf825b11d&utm_source=embed_player_p&utm_medium=desktop&si=qTrmTQ0cS-GUeNDEct3COw&nd=1&dlsi=0aa636ff1f8d44f0

The Harvard Business case study on Bajaj Finance: https://store.hbr.org/product/bajaj-finance-building-an-omnipresent-financial-services-firm/523040?sku=523040-PDF-ENG

Inside Bajaj Finance’s aggressive call-to-sell-loan strategy: https://the-ken.com/story/why-you-cant-ignore-bajaj-finances-call/

Credits for chapter images: 

Bajaj Finserv, Bajaj Group, Business Today/Bajaj Group, Fortune/Bajaj Group and Wikipedia.

Credits: 

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Director: Vijay Subramaniam, 

Video Producer: Vishnu S

Sound Design and Technical Producer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath


Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Motion Graphics:⁠⁠ Karthik N

Video Editing team: Sarthak Pujar, Tejas Kulkarni, Jayesh Sahu

Colourist: Akhil Raj

Graphic Design and Illustrations: Anusha Sarah

On-Set Production: Chaitanya, Veeresh and team

Audio: ⁠⁠Murthy and team

Spot Edit: Girish

Set Design: Saanvi, Thejaswini


Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

About Intermission: 

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1. 

Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken: 

The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more. 


Follow The Ken on socials: 


Instagram: instagram.com/theken_web  

LinkedIn: https://in.linkedin.com/company/the-ken

Twitter: https://x.com/thekenweb/


]]>

Sell a Bajaj scooter, finance their EMIs. For years, that was the entire purpose of Bajaj Auto Finance. 

But consumers in India wanted much more. 

They outfitted their homes with new television sets, refrigerators, and washing machines. They wanted iPhones, hair transplants, fitness equipment and more.

Lending for those hinted at a much larger opportunity. And the Bajaj group seized it. 

Bajaj Auto Finance became Bajaj Finance. A legacy auto-financing arm went on to create India’s consumer credit infrastructure, shaping how millions buy things. 

Today, Bajaj Finance manages a loan book of over Rs 5 lakh crore, serves more than 119 million customers, and is valued roughly Rs 6 lakh crore. It is twice as large as Bajaj Auto, the parent company it was spun out of.

This is the story of how that happened. Tune in!

Our team has built an interactive webpage for Bajaj Finance. It’s a research guide to this episode. Check it out here: https://the-ken.com/story/why-you-cant-ignore-bajaj-finances-call/

Additional material: 

Saurabh Mukerjea’s analysis of Bajaj Finance: https://open.spotify.com/episode/70JSD3LIE16jcsGSjhjtr9?go=1&sp_cid=e2ae99a929ea25663dee6c3cf825b11d&utm_source=embed_player_p&utm_medium=desktop&si=qTrmTQ0cS-GUeNDEct3COw&nd=1&dlsi=0aa636ff1f8d44f0

The Harvard Business case study on Bajaj Finance: https://store.hbr.org/product/bajaj-finance-building-an-omnipresent-financial-services-firm/523040?sku=523040-PDF-ENG

Inside Bajaj Finance’s aggressive call-to-sell-loan strategy: https://the-ken.com/story/why-you-cant-ignore-bajaj-finances-call/

Credits for chapter images: 

Bajaj Finserv, Bajaj Group, Business Today/Bajaj Group, Fortune/Bajaj Group and Wikipedia.

Credits: 

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Director: Vijay Subramaniam, 

Video Producer: Vishnu S

Sound Design and Technical Producer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath


Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Motion Graphics:⁠⁠ Karthik N

Video Editing team: Sarthak Pujar, Tejas Kulkarni, Jayesh Sahu

Colourist: Akhil Raj

Graphic Design and Illustrations: Anusha Sarah

On-Set Production: Chaitanya, Veeresh and team

Audio: ⁠⁠Murthy and team

Spot Edit: Girish

Set Design: Saanvi, Thejaswini


Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

About Intermission: 

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1. 

Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken: 

The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more. 


Follow The Ken on socials: 


Instagram: instagram.com/theken_web  

LinkedIn: https://in.linkedin.com/company/the-ken

Twitter: https://x.com/thekenweb/


]]> Mon, 11 May 2026 07:00:00 +0530 The Ken The Ken 15905

Sell a Bajaj scooter, finance their EMIs. For years, that was the entire purpose of Bajaj Auto Finance. 

But consumers in India wanted much more. 

They outfitted their homes with new television sets, refrigerators, and washing machines. They wanted iPhones, hair transplants, fitness equipment and more.

Lending for those hinted at a much larger opportunity. And the Bajaj group seized it. 

Bajaj Auto Finance became Bajaj Finance. A legacy auto-financing arm went on to create India’s consumer credit infrastructure, shaping how millions buy things. 

Today, Bajaj Finance manages a loan book of over Rs 5 lakh crore, serves more than 119 million customers, and is valued roughly Rs 6 lakh crore. It is twice as large as Bajaj Auto, the parent company it was spun out of.

This is the story of how that happened. Tune in!

Our team has built an interactive webpage for Bajaj Finance. It’s a research guide to this episode. Check it out here: https://the-ken.com/story/why-you-cant-ignore-bajaj-finances-call/

Additional material: 

Saurabh Mukerjea’s analysis of Bajaj Finance: https://open.spotify.com/episode/70JSD3LIE16jcsGSjhjtr9?go=1&sp_cid=e2ae99a929ea25663dee6c3cf825b11d&utm_source=embed_player_p&utm_medium=desktop&si=qTrmTQ0cS-GUeNDEct3COw&nd=1&dlsi=0aa636ff1f8d44f0

The Harvard Business case study on Bajaj Finance: https://store.hbr.org/product/bajaj-finance-building-an-omnipresent-financial-services-firm/523040?sku=523040-PDF-ENG

Inside Bajaj Finance’s aggressive call-to-sell-loan strategy: https://the-ken.com/story/why-you-cant-ignore-bajaj-finances-call/

Credits for chapter images: 

Bajaj Finserv, Bajaj Group, Business Today/Bajaj Group, Fortune/Bajaj Group and Wikipedia.

Credits: 

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Director: Vijay Subramaniam, 

Video Producer: Vishnu S

Sound Design and Technical Producer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath


Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Motion Graphics:⁠⁠ Karthik N

Video Editing team: Sarthak Pujar, Tejas Kulkarni, Jayesh Sahu

Colourist: Akhil Raj

Graphic Design and Illustrations: Anusha Sarah

On-Set Production: Chaitanya, Veeresh and team

Audio: ⁠⁠Murthy and team

Spot Edit: Girish

Set Design: Saanvi, Thejaswini


Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

'Intermission' Title Track by Sameer Rahat

About Intermission: 

Intermission dives into the histories of iconic Indian companies. It was produced with vital support and assistance from Zerodha, our sponsor for season 1. 

Disclosure: Zerodha’s perennial fund, Rainmatter Capital, is an investor in The Ken.

About The Ken: 

The Ken is India’s first subscriber-only business journalism platform reporting on business, technology, and startups in India. Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠ and explore our stories, newsletters, podcasts and more. 


Follow The Ken on socials: 


Instagram: instagram.com/theken_web  

LinkedIn: https://in.linkedin.com/company/the-ken

Twitter: https://x.com/thekenweb/


]]> business stories, india, company histories No Intermission E01 - Asian Paints (PART 1) 2 2 Intermission E01 - Asian Paints (PART 1) full a036c236-1638-40b2-8c01-ebcb29a580a1 https://the-ken.com/intermission/the-business-of-colour-asian-paints/ Asian Paints was founded in 1942 by four young Gujaratis in a Bombay garage. Today, it controls more than half of India's paint market. 

This is the story of how that happened. 

The company was among the first to tap into the rural market, become a technology company before most people understood what that meant, crack the supply chain, and bring about a new era of Indian advertising.

Now, Asian Paints is being met with renewed competition and aggression from Birla Opus, JSW Dulux and Berger Paints. 

Understanding why this market is so hard to take requires understanding of how it was built.

—

We also have an interactive webpage exploring Asian Paints' history with reading lists, infographics, and source notes: the-ken.com/intermission.

—

The full episode runs 6 hours and is split into two parts on podcast platforms.

—

About Intermission: Intermission, produced by The Ken, dives deep into the histories of iconic Indian companies. 

Intermission was produced with vital support and assistance from Zerodha, our season sponsor. Disclosure: Rainmatter Foundation is an investor in The Ken's parent company.

—

About The Ken:The Ken is India's first subscriber-only business journalism platform reporting on business, technology, startups and healthcare across India and Southeast Asia. Since our inception, we’ve published thousands of stories that have been widely discussed, debated and referenced.  Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠, and explore our stories, newsletters, podcasts and more.
—

Follow us on our socials:
Instagram: ⁠⁠⁠⁠https://www.instagram.com/theken_web/⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/the-ken/⁠⁠⁠⁠

Twitter: ⁠⁠⁠⁠https://x.com/thekenweb⁠⁠⁠⁠
—

We would also like to thank Anupam Gupta, the writer of "The Rise of Asian Paints: Champaklal Choksey, a Doyen of the Indian Paints Industry" (Penguin India, 2024). You can buy the book here: https://www.penguin.co.in/book/the-rise-of-asian-paints/

—

Credits

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Video Producers: Vijay Subramaniam, Vishnu S, Rajiv CN

Audio Engineer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath

Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Editing and Motion Graphics:⁠⁠ Karthik N

Graphic Design and Illustrations: Anusha Sarah

Colorist: Pranav Bhat

Video Editing team: Sarthak Pujar, Himanshi, Jayesh Sahu

On-Set Production: Veeresh, Chaitanya and team

Audio: ⁠⁠Murthy and team

Set Design: Hritika, Saanvi, Thejaswini

Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar


]]> Asian Paints was founded in 1942 by four young Gujaratis in a Bombay garage. Today, it controls more than half of India's paint market. 

This is the story of how that happened. 

The company was among the first to tap into the rural market, become a technology company before most people understood what that meant, crack the supply chain, and bring about a new era of Indian advertising.

Now, Asian Paints is being met with renewed competition and aggression from Birla Opus, JSW Dulux and Berger Paints. 

Understanding why this market is so hard to take requires understanding of how it was built.

—

We also have an interactive webpage exploring Asian Paints' history with reading lists, infographics, and source notes: the-ken.com/intermission.

—

The full episode runs 6 hours and is split into two parts on podcast platforms.

—

About Intermission: Intermission, produced by The Ken, dives deep into the histories of iconic Indian companies. 

Intermission was produced with vital support and assistance from Zerodha, our season sponsor. Disclosure: Rainmatter Foundation is an investor in The Ken's parent company.

—

About The Ken:The Ken is India's first subscriber-only business journalism platform reporting on business, technology, startups and healthcare across India and Southeast Asia. Since our inception, we’ve published thousands of stories that have been widely discussed, debated and referenced.  Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠, and explore our stories, newsletters, podcasts and more.
—

Follow us on our socials:
Instagram: ⁠⁠⁠⁠https://www.instagram.com/theken_web/⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/the-ken/⁠⁠⁠⁠

Twitter: ⁠⁠⁠⁠https://x.com/thekenweb⁠⁠⁠⁠
—

We would also like to thank Anupam Gupta, the writer of "The Rise of Asian Paints: Champaklal Choksey, a Doyen of the Indian Paints Industry" (Penguin India, 2024). You can buy the book here: https://www.penguin.co.in/book/the-rise-of-asian-paints/

—

Credits

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Video Producers: Vijay Subramaniam, Vishnu S, Rajiv CN

Audio Engineer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath

Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Editing and Motion Graphics:⁠⁠ Karthik N

Graphic Design and Illustrations: Anusha Sarah

Colorist: Pranav Bhat

Video Editing team: Sarthak Pujar, Himanshi, Jayesh Sahu

On-Set Production: Veeresh, Chaitanya and team

Audio: ⁠⁠Murthy and team

Set Design: Hritika, Saanvi, Thejaswini

Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar


]]> Mon, 23 Mar 2026 01:00:00 +0530 The Ken The Ken 10550 Asian Paints was founded in 1942 by four young Gujaratis in a Bombay garage. Today, it controls more than half of India's paint market. 

This is the story of how that happened. 

The company was among the first to tap into the rural market, become a technology company before most people understood what that meant, crack the supply chain, and bring about a new era of Indian advertising.

Now, Asian Paints is being met with renewed competition and aggression from Birla Opus, JSW Dulux and Berger Paints. 

Understanding why this market is so hard to take requires understanding of how it was built.

—

We also have an interactive webpage exploring Asian Paints' history with reading lists, infographics, and source notes: the-ken.com/intermission.

—

The full episode runs 6 hours and is split into two parts on podcast platforms.

—

About Intermission: Intermission, produced by The Ken, dives deep into the histories of iconic Indian companies. 

Intermission was produced with vital support and assistance from Zerodha, our season sponsor. Disclosure: Rainmatter Foundation is an investor in The Ken's parent company.

—

About The Ken:The Ken is India's first subscriber-only business journalism platform reporting on business, technology, startups and healthcare across India and Southeast Asia. Since our inception, we’ve published thousands of stories that have been widely discussed, debated and referenced.  Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠, and explore our stories, newsletters, podcasts and more.
—

Follow us on our socials:
Instagram: ⁠⁠⁠⁠https://www.instagram.com/theken_web/⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/the-ken/⁠⁠⁠⁠

Twitter: ⁠⁠⁠⁠https://x.com/thekenweb⁠⁠⁠⁠
—

We would also like to thank Anupam Gupta, the writer of "The Rise of Asian Paints: Champaklal Choksey, a Doyen of the Indian Paints Industry" (Penguin India, 2024). You can buy the book here: https://www.penguin.co.in/book/the-rise-of-asian-paints/

—

Credits

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Video Producers: Vijay Subramaniam, Vishnu S, Rajiv CN

Audio Engineer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath

Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Editing and Motion Graphics:⁠⁠ Karthik N

Graphic Design and Illustrations: Anusha Sarah

Colorist: Pranav Bhat

Video Editing team: Sarthak Pujar, Himanshi, Jayesh Sahu

On-Set Production: Veeresh, Chaitanya and team

Audio: ⁠⁠Murthy and team

Set Design: Hritika, Saanvi, Thejaswini

Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar


]]> business stories, india, company histories No Intermission E01 - Asian Paints (PART 2) 2 2 Intermission E01 - Asian Paints (PART 2) full f5f5388a-7a53-4ea3-98df-a2f8845652b1 https://the-ken.com/intermission/the-business-of-colour-asian-paints/ This is Part 2 of Intermission's episode on Asian Paints. We'd urge you to listen to Part 1 first to get a full picture of the company's early history and main bets. 
—
Asian Paints was founded in 1942 by four young Gujaratis in a Bombay garage. Today, it controls more than half of India's paint market. 

This is the story of how that happened. 

The company was among the first to tap into the rural market, become a technology company before most people understood what that meant, crack the supply chain, and bring about a new era of Indian advertising.

Now, Asian Paints is being met with renewed competition and aggression from Birla Opus, JSW Dulux and Berger Paints. 

Understanding why this market is so hard to take requires understanding of how it was built.

—

We also have an interactive webpage exploring Asian Paints' history with reading lists, infographics, and source notes: the-ken.com/intermission.

—

The full episode runs 6 hours and is split into two parts on podcast platforms.

—

About Intermission: Intermission, produced by The Ken, dives deep into the histories of iconic Indian companies. 

Intermission was produced with vital support and assistance from Zerodha, our season sponsor. Disclosure: Rainmatter Foundation is an investor in The Ken's parent company.

—

About The Ken:The Ken is India's first subscriber-only business journalism platform reporting on business, technology, startups and healthcare across India and Southeast Asia. Since our inception, we’ve published thousands of stories that have been widely discussed, debated and referenced.  Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠, and explore our stories, newsletters, podcasts and more.
—

Follow us on our socials:
Instagram: ⁠⁠⁠⁠https://www.instagram.com/theken_web/⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/the-ken/⁠⁠⁠⁠

Twitter: ⁠⁠⁠⁠https://x.com/thekenweb⁠⁠⁠⁠
—

We would also like to thank Anupam Gupta, the writer of "The Rise of Asian Paints: Champaklal Choksey, a Doyen of the Indian Paints Industry" (Penguin India, 2024). You can buy the book here: https://www.penguin.co.in/book/the-rise-of-asian-paints/

—

Credits

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Video Producers: Vijay Subramaniam, Vishnu S, Rajiv CN

Audio Engineer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath

Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Editing and Motion Graphics:⁠⁠ Karthik N

Graphic Design and Illustrations: Anusha Sarah

Colorist: Pranav Bhat

Video Editing team: Sarthak Pujar, Himanshi, Jayesh Sahu

On-Set Production: Veeresh, Chaitanya and team

Audio: ⁠⁠Murthy and team

Set Design: Hritika, Saanvi, Thejaswini

Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

]]> This is Part 2 of Intermission's episode on Asian Paints. We'd urge you to listen to Part 1 first to get a full picture of the company's early history and main bets. 
—
Asian Paints was founded in 1942 by four young Gujaratis in a Bombay garage. Today, it controls more than half of India's paint market. 

This is the story of how that happened. 

The company was among the first to tap into the rural market, become a technology company before most people understood what that meant, crack the supply chain, and bring about a new era of Indian advertising.

Now, Asian Paints is being met with renewed competition and aggression from Birla Opus, JSW Dulux and Berger Paints. 

Understanding why this market is so hard to take requires understanding of how it was built.

—

We also have an interactive webpage exploring Asian Paints' history with reading lists, infographics, and source notes: the-ken.com/intermission.

—

The full episode runs 6 hours and is split into two parts on podcast platforms.

—

About Intermission: Intermission, produced by The Ken, dives deep into the histories of iconic Indian companies. 

Intermission was produced with vital support and assistance from Zerodha, our season sponsor. Disclosure: Rainmatter Foundation is an investor in The Ken's parent company.

—

About The Ken:The Ken is India's first subscriber-only business journalism platform reporting on business, technology, startups and healthcare across India and Southeast Asia. Since our inception, we’ve published thousands of stories that have been widely discussed, debated and referenced.  Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠, and explore our stories, newsletters, podcasts and more.
—

Follow us on our socials:
Instagram: ⁠⁠⁠⁠https://www.instagram.com/theken_web/⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/the-ken/⁠⁠⁠⁠

Twitter: ⁠⁠⁠⁠https://x.com/thekenweb⁠⁠⁠⁠
—

We would also like to thank Anupam Gupta, the writer of "The Rise of Asian Paints: Champaklal Choksey, a Doyen of the Indian Paints Industry" (Penguin India, 2024). You can buy the book here: https://www.penguin.co.in/book/the-rise-of-asian-paints/

—

Credits

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Video Producers: Vijay Subramaniam, Vishnu S, Rajiv CN

Audio Engineer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath

Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Editing and Motion Graphics:⁠⁠ Karthik N

Graphic Design and Illustrations: Anusha Sarah

Colorist: Pranav Bhat

Video Editing team: Sarthak Pujar, Himanshi, Jayesh Sahu

On-Set Production: Veeresh, Chaitanya and team

Audio: ⁠⁠Murthy and team

Set Design: Hritika, Saanvi, Thejaswini

Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

]]> Mon, 23 Mar 2026 01:00:00 +0530 The Ken The Ken 12353 This is Part 2 of Intermission's episode on Asian Paints. We'd urge you to listen to Part 1 first to get a full picture of the company's early history and main bets. 
—
Asian Paints was founded in 1942 by four young Gujaratis in a Bombay garage. Today, it controls more than half of India's paint market. 

This is the story of how that happened. 

The company was among the first to tap into the rural market, become a technology company before most people understood what that meant, crack the supply chain, and bring about a new era of Indian advertising.

Now, Asian Paints is being met with renewed competition and aggression from Birla Opus, JSW Dulux and Berger Paints. 

Understanding why this market is so hard to take requires understanding of how it was built.

—

We also have an interactive webpage exploring Asian Paints' history with reading lists, infographics, and source notes: the-ken.com/intermission.

—

The full episode runs 6 hours and is split into two parts on podcast platforms.

—

About Intermission: Intermission, produced by The Ken, dives deep into the histories of iconic Indian companies. 

Intermission was produced with vital support and assistance from Zerodha, our season sponsor. Disclosure: Rainmatter Foundation is an investor in The Ken's parent company.

—

About The Ken:The Ken is India's first subscriber-only business journalism platform reporting on business, technology, startups and healthcare across India and Southeast Asia. Since our inception, we’ve published thousands of stories that have been widely discussed, debated and referenced.  Visit ⁠⁠⁠⁠the-ken.com⁠⁠⁠⁠, and explore our stories, newsletters, podcasts and more.
—

Follow us on our socials:
Instagram: ⁠⁠⁠⁠https://www.instagram.com/theken_web/⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/the-ken/⁠⁠⁠⁠

Twitter: ⁠⁠⁠⁠https://x.com/thekenweb⁠⁠⁠⁠
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We would also like to thank Anupam Gupta, the writer of "The Rise of Asian Paints: Champaklal Choksey, a Doyen of the Indian Paints Industry" (Penguin India, 2024). You can buy the book here: https://www.penguin.co.in/book/the-rise-of-asian-paints/

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Credits

Hosts: Rohin Dharmakumar, Seetharaman G

Podcast Producer: Vidhatri Rao 

Video Producers: Vijay Subramaniam, Vishnu S, Rajiv CN

Audio Engineer: Rajiv CN

Lead Researcher: Raghav Batra

Art Direction: Kavipriya OG

Data Visualisation: Anuj Debnath

Production Agency: Nesara Films

Creative Direction: Sunayana Kashyap

DoP: Subash KP

Editing and Motion Graphics:⁠⁠ Karthik N

Graphic Design and Illustrations: Anusha Sarah

Colorist: Pranav Bhat

Video Editing team: Sarthak Pujar, Himanshi, Jayesh Sahu

On-Set Production: Veeresh, Chaitanya and team

Audio: ⁠⁠Murthy and team

Set Design: Hritika, Saanvi, Thejaswini

Promotions: Pranav Pate, Aakash Raju, Adhavan RK

Writer & Editor (Microsite): Brady Ng

Product Design (Microsite): Praveen Gopal Krishnan, Ritika Sanikere, Sushmita Vavilala, Karan Kumar

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