Infosys has seen two president-level exits in a matter of months, with Ravi Kumar and Mohit Joshi leaving the company to join top tier IT firms Cognizant and Tech Mahindra, respectively.
Most of the founders of unicorn Zetwerk have two things in common: they studied at IIT or worked at ITC. Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary, Zetwerk is a manufacturing platform connecting original equipment manufacturers and engineering procurement construction customers across India, North America and Southeast Asia with small and medium-sized enterprises (SMEs). It is present in categories such as fabrication, machining, casting and forging and helps customers in procuring custom products (which are not available off-the-shelf), real-time tracking and project management all the way till delivery. On this episode of Bits to Billions, the founders weighed in on How Zetwerk started, why manufacturing is broken in India, how they plan to fix it, the currency macro environment and why Zetwerk is insulated.
Though 70% of the company's topline is dollar denominated, rupee depreciation helped it clock only 2 or 3 percentage points gain.
Charles Kaye and Joseph Landy, Global Co-Presidents, of Warburg Pincus are among the minority who believe that the India story is still intact, despite the volatile currency and depressing economic indicators. They feel there can be large investment opportunities even in times of slow growth.
The macro situation in India is so challenging that it tends dominate people's thinking on the market says Dhawal Mehta, head- India equity investments, Reliance AMC.