SCALE IS DEAD

Why India’s most competitive brands are trading ‘growth-at-all-costs’ for better ‘unit economics’.

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India enters 2026 with strong momentum. Even amid global trade slowdowns and tariff uncertainty, the country is still projected to grow at around 7.4%, reinforcing its position as the world's fastest-growing major economy. But for Indian businesses, the bigger question has shifted. It's no longer just about how fast the economy grows, it's about how companies grow within it.

For much of the last decade, growth meant expansion. Brands chased scale by entering new markets, adding channels, increasing headcount, and pouring money into customer acquisition. In a demand-heavy environment, this worked.

Consumption was rising fast, digital reach was widening, and capital was abundant.

Growth rewarded speed.

Today, the context is different.

Demand is still strong, but it’s more fragmented. Consumers are more selective. Marketing costs are higher. And leadership teams are under pressure to show not just growth, but profitable, repeatable growth. In this environment, expansion alone is no longer the safest lever.

Efficiency is.