iPhone 17 components have started arriving at Foxconn’s plant in Tamil Nadu. It signals Apple’s quiet but serious shift toward next-gen production in India, potentially starting as early as August.

But as India is stepping into a more central role in Apple’s global supply chain, Foxconn is being forced to pull hundreds of Chinese engineers out of India. These are people who helped set up and run these complex manufacturing lines. The move has raised eyebrows with many interpreting it as Beijing’s geopolitical pushback against Apple’s China-plus-one strategy.

Here’s the twist: what if this squeeze isn’t a setback, but a necessary shock? Could China’s pressure may actually accelerate India’s path to manufacturing independence?

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Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

CIBIL or Credit Information Bureau (India) Ltd is one of only four credit information providers in the country that is licensed by the RBI. It is considered the oldest and the most reliable. It essentially calculates your credit score, a three digit number between 300 and 900, and provides it to banks so they can judge your creditworthiness. Usually, anything over 700 is considered good.

But this whole process is anything but straightforward. In fact, it is shrouded in mystery. Each of these bureaus typically have their own algorithm to compute your credit score. And they are all somewhat similar. But nobody–not the borrowers and not even the banks–fully understand how these credit information providers, like Cibil, actually rate finances.

In this episode, we try to demystify these credit bureaus and their mystery calculations that decide our fate.

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*This episode was first published on February 6, 2025

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

On June 23, Ola Electric’s stock crashed to an all-time low of ₹43.

This week, the stock staged a brief rebound, jumping nearly 20% in a single session. But at ₹47, it’s still trading far below its IPO price of ₹76 and more than 70% off its post-listing peak.

On an earnings call, founder Bhavish Aggarwal insisted the company was on track. With rising margins and tighter cost control, he said, Ola would hit EBITDA break-even at 25,000 units a month.

But a closer look at Ola’s financials tells a very different story.

For FY25:
— Revenue dropped nearly 10%
— Losses ballooned over 40%, to ₹2,300 crore
— And cash flow from operations? Deeply negative at ₹2,391 crore—nearly 4x worse than the year before

In today’s episode, we unpack the growing gap between narrative and numbers at Ola Electric and ask: can Bhavish really steer this ship to safety?

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