Business & Beyond

Can creativity become one of India's most influential exports?

India's AVGC-XR journey has come a long way from service delivery and execution. The next frontier may lie in combining storytelling, technology and creative talent to build content that resonates with audiences across the world.

In episode 6 of our #BeyondTheScreen podcast series, Ashish Kulkarni, Chairman, FICCI AVGC-XR Forum and Founding Director, Indian Institute of Creative Technologies, joins Ananay Jain, Partner and Media Industry Expert, Grant Thornton Bharat, for a discussion on the ideas, capabilities and long-term vision shaping the future of India's creative industry.

Key insights:

• Why storytelling remains the foundation of creative excellence

• The role of creative education in preparing future-ready talent

• How AI and emotional intelligence may influence the next generation of content creation

• Why AVGC-XR can strengthen India's global cultural influence

Is UPI becoming a paid service? Not quite.

India’s UPI ecosystem has reached a scale where the conversation is shifting from adoption to sustainability. The new Merchant Discount Rate (MDR) framework introduces a targeted charge for certain higher-value merchant transactions, while keeping consumer payments free.

In the latest episode of #GTBharat’s PolicyCast, Dharmender Jhamb, Partner and Fintech Industry Leader, Grant Thornton Bharat, explains what has changed, who pays, and what the framework means for merchants, consumers and the wider digital payments ecosystem.

The conversation covers:

• How the 0.4% MDR applies to eligible merchant transactions above INR 2,000

• Why a INR 300 cap matters for larger transactions

• Special treatment for essential sectors such as insurance, fuel, utilities and education

• How the framework protects micro and small merchants

• What this could mean for the long-term sustainability of UPI

Listen to the latest episode for a closer look at what the new MDR framework means for India’s digital payments ecosystem.

#PolicyCast #UPI #DigitalPayments #MDR #Fintech #PaymentsIndustry #PodcastSeries

An equity award may be granted in one country, vest in another and still have tax implications across both.

For employees moving between India and the US, stock options, RSUs and other forms of equity compensation can create complex questions around the timing of taxation, income characterisation, reporting and potential double taxation.

In the latest episode of #GTBharat’s PolicyCast podcast series, Chitranshi Gupta, Executive Director, US Tax, Grant Thornton Bharat, discusses the US tax implications of cross-border equity compensation and the considerations for globally mobile employees and their employers.

The episode looks at:

• How different forms of equity compensation are treated under US tax rules

• When tax can arise at vesting, exercise or sale

• How the location of services performed can influence the US tax treatment

• Potential double taxation across India and the US and avenues for relief

• The role of employers, payroll and mobility teams in managing tax and reporting requirements

For globally mobile employees, understanding the tax journey of equity compensation early can help address compliance challenges and avoid surprises across jurisdictions.

#PolicyCast #EquityCompensation #USTax #ESOP #CrossBorderTax #PodcastSeries

Every company preparing to go public will, at some point, face a crisis. It rarely gets advance notice.

In the latest episode of IPO Access, Karan Marwah, Partner and Capital Markets Advisory Leader, Grant Thornton Bharat, is joined by Gaganpreet Puri, Partner and Crisis & Resilience Leader, Grant Thornton Bharat, for a candid conversation on preparing for the unexpected.

From whistleblower letters and cyber attacks to questions around management integrity, the discussion explores how a crisis can test a company at the most critical stage of its IPO journey.

Gagan shares why vulnerability and leverage shape how companies experience and respond to risks, why anticipating a crisis is more effective than simply reacting to one, and why the response team needs specialist expertise beyond legal or reputation management capabilities.

The conversation also looks at the role of boards and what can help preserve value when a crisis strikes.

One message comes through clearly. Credibility is difficult to rebuild once it is lost. It starts with the willingness to acknowledge what went wrong.

A practical conversation for boards, promoters and leadership teams preparing to go public or already operating under public market scrutiny.

🎧 Watch the full episode now.

#IPOAccess #CrisisAndResilience #IPO #CorporateGovernance #RiskManagement

India’s foreign investment framework is heading for a significant reset.

The Draft Foreign Exchange Management (Foreign Investment) Rules, 2026 propose to replace the existing 2019 framework in its entirety, with changes that could affect how foreign investment is structured, classified and reported.

In the latest episode of #GTBharat’s PolicyCast podcast series, Riaz Thingna, Partner, Tax, decodes the proposed changes and their implications for investors, businesses and advisors.

The discussion covers:

• The shift from “non-debt instruments” to “equity”

• The move from FOCC to the new Foreign-Controlled Entity framework

• The proposed 10% threshold for control and FDI classification

• The wider range of entities that can receive foreign investment

• Key areas requiring greater clarity before implementation

With the proposed rules introducing a new structure for foreign investment in India, the consultation period also presents an important opportunity for stakeholders to examine the practical implications and areas that may need further clarification.

#PolicyCast #ForeignInvestment #FEMA #FDI #PodcastSeries

Investor Relations is no longer just about reporting results. It’s about shaping market confidence.

As investors expect greater transparency, clearer strategic direction and more meaningful engagement, companies can no longer rely on strong financial performance alone to tell their story.

In the latest episode of #GTBharat’s PolicyCast, Meenakshi Sharma, Partner, CFO Advisory, Grant Thornton Bharat, discusses how Investor Relations has evolved into a strategic business function and what organisations need to do to build credibility with the investment community.

The conversation explores:

• Why investor expectations are changing

• The importance of a compelling equity story

• Common Investor Relations gaps companies often overlook

• How digitalisation is reshaping investor engagement

• What Boards and management teams should prepare for as expectations continue to evolve

As investor scrutiny intensifies, the differentiator may no longer be just how companies perform, but how effectively they communicate their strategy, execution and long-term value creation potential.

🎧 Tune in to the latest episode of PolicyCast.

#PolicyCast #InvestorRelations #CapitalMarkets #CorporateGovernance #InvestorEngagement #BusinessStrategy

IPO structure is not just a compliance decision. It is a value decision.

And the earlier founders make it, the more room they have to get it right.

In Episode 2 of IPO Access, Karan Marwah, Partner and Capital Markets Advisory Leader, Grant Thornton Bharat, speaks with Priyanka Duggal, Partner, Tax Structuring, Grant Thornton Bharat, on why corporate structuring needs to be on the table from the moment an IPO becomes a possibility.

They discuss the questions founders should be asking early: Are legacy structures still serving the business? Is the promoter holding structure right? What needs to be cleaned up before listing? And where could tax, regulatory or succession considerations create complications later?

Because the structure that helped you build the business may not be the one that helps you take it public.
As Priyanka puts it: “Eventually it is value. Tax risk either takes away from it or, if you manage tax risk, you are enhancing value.”

The takeaway? Start early. Keep it simple. And build a structure that supports where the business is headed.

🎧 Watch the full episode.

#IPOAccess #IPOReadiness #CorporateStructuring #ValueCreation #CapitalMarkets

India has built scale in smartphone assembly. The next opportunity is to capture more value across the mobile manufacturing value chain.

In the latest episode of #GTBharat’s Policycast, Sohrab Bararia, Partner and Global Trade & Incentives Advisory Leader, Grant Thornton Bharat, explores what the Mobile Phone Manufacturing Scheme (MPMS) could mean for India’s electronics manufacturing ambitions.

Key themes from the conversation:

• Moving beyond assembly: MPMS aims to drive deeper domestic value addition and local sourcing.

• Building capabilities: Stronger capabilities across components, sub-assemblies, design and R&D will be critical to the next phase of growth.

• Looking beyond incentives: Infrastructure, logistics, skills and technology will be key to translating investments into sustainable manufacturing capabilities.

• Balancing global scale with domestic capability: Global players can bring technology and scale, while a stronger Indian supplier base can deepen localisation.

• Connecting the ecosystem: MPMS and Semicon 2.0 can work together to build a more complete and competitive electronics ecosystem.

🎧 Listen to the full episode

#Policycast #MPMS #ElectronicsManufacturing #MobileManufacturing #Semiconductors

When Customs law refers to goods being “for use”, should eligibility depend on actual use or intended use?

The distinction can have important implications for businesses assessing eligibility under the Manufacture and Other Operations in Warehouse Regulations (MOOWR) framework, particularly where imported capital goods serve a defined purpose.

In the latest episode of #GTBharat’s PolicyCast podcast series, our leader, Manoj Mishra, discusses the CESTAT ruling in Dalmia and its relevance to the ongoing question of Battery Energy Storage System (BESS) eligibility under MOOWR.

He outlines:

• How CESTAT interpreted “intended for use” under Customs law
• Evidence that can support intended use
• Potential relevance for BESS for eligibility under MOOWR

Tune in to understand what the ruling could mean for businesses assessing Customs benefits and compliance.

#PolicyCast #MOOWR #CustomsLaw #IndirectTax #TaxPolicy #Podcast

What will you do when a fraud hits you?

It is not a question most organisations like to answer.

For Deepankar Sanwalka, Senior Partner and National Consulting Leader, Grant Thornton Bharat, it offers a window into how an organisation and its leaders think, respond and prepare for operating in the public domain.

In Episode 1 of IPO Access, hosted by Karan Marwah, Partner and Capital Markets Advisory Leader, Grant Thornton Bharat, the conversation goes beyond the mechanics of an IPO to explore what public market readiness really looks like. Because IPO readiness is not built in the months leading up to a listing. It is reflected in how an organisation is governed, how it responds under pressure, how transparent it is with stakeholders, and whether the right culture, leadership and controls are already in place.

As Deepankar shares in the episode, independent directors must ask difficult questions, regulators should be engaged proactively, and culture cannot be created overnight for an IPO.

The real challenge is not getting listed.

It is building an organisation that can withstand the scrutiny, accountability and expectations that come after.

🎥 Episode 1 of IPO Access is now live.

#IPOAccess #IPOReadiness #CapitalMarkets #Governance