
#38: Why is private equity paying 16x for India's schools?
A loss-making school chain was just valued at ₹7,200 crore, as the playbook that built a $14.5bn global giant reaches India's classrooms.
By Jayant Mundhra
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A loss-making school chain was just valued at ₹7,200 crore, as the playbook that built a $14.5bn global giant reaches India's classrooms.

India has won zero-tariff access across New Zealand, Britain and beyond, yet its produce keeps failing at the world's inspection counters.

Delhi has just put ₹23,731 crore behind compressed biogas. Denmark already runs 40% of its gas grid on cow dung.

On remittances, Kerala looks less like an Indian state and more like Nepal, and a fresh war in the Gulf is now testing that model to its limit.

India’s economy has multiplied many times over since 1991, yet almost nobody it employs has been handed a formal, secure job.

India caps how much floor its cities can build, then acts surprised when the poor crowd into slums and its expensive new metros run half-empty.

India counts orchards, rubber and bamboo as forest, so the map keeps greening even as tens of thousands of square kilometres of natural forest quietly degrade underneath.

India promises cheap grain to two-thirds of its people, then counts them using a 2011 census that shrinks a little more against reality every year.

India's official books value the damage at 1.36% of GDP. The Lancet's method says it is seven times bigger.

India trains one in ten of the world's best AI researchers, then hands almost all of them to America.

India ships a record $825bn of goods and services a year, yet per head Vietnam sends out roughly eight times as much.

The official books say ~4.1mn tonnes a year. The best science says 9.3mn. India is the world's biggest plastic polluter, and it barely counts it.

India keeps building dams and treatment plants, yet almost no city gets water round the clock, because the pipes leak faster than we can fill them.

India gets enough rain to be water-rich. It is going dry anyway, because it priced the one thing that could have saved it at zero.

The 2.5% target was due in 2025. India missed it, and the gap does not show up in a budget line. It shows up at the pharmacy counter.

India tops the world in women studying science, then loses almost all of them on the walk from the classroom to the lab bench and the boardroom.

As of early 2025, only ₹41,000 crore out of ₹1.03 lakh crore collected under District Mineral Foundation funds has been spent, leaving over ₹60,000 crore unused.

A 2015 study found India was losing ₹92,651 crore worth of major agricultural products annually to post-harvest mishandling.

In 2019, one-third of all air pollution related deaths in the country were due to indoor pollution.

Surveys show 85% of platform gig workers put in over 8 hours a day, and nearly one-third of app-based drivers work over 14 hours daily.