Una Galani is Associate Editor of Reuters Breakingviews, based in Mumbai. She covers a cross-section of business, finance, and politics in South Asia. Una was in Hong Kong from 2013 and previously spent three years in Dubai writing about Middle Eastern economies during the Arab Spring. She joined Breakingviews in 2006 in London. In 2016, she won Asia Pacific Best Editorial Comment at the State Street Press Awards and Reuters global analysis/commentary of the year. She read English Literature at St Catherine’s College, Oxford. Follow @ugalani
After a long legal spat, the family of ousted chairman Cyrus Mistry is ready to sell its 18% stake in the holding company of Tata group. But a mooted $24 bln price tag double counts the value of India’s top household name. The conglomerate has rare reason to play down its brand.
Raju has resumed selling tea at his Mumbai roadside stall, but his post-lockdown business is diminished. Covid-19 has accelerated a shift to a more efficient, formal Indian economy. One consequence is that, from street to stock market, the strong are displacing the weak.
New Delhi is considering forcing domestic companies that list shares overseas to do so at home as well. China has wooed Alibaba and others back to Hong Kong and Shanghai, but by making it easier not by fiat. A heavy-handed approach risks pushing Indian startups away even sooner.