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👓️ Seeing clearly, thinking bigger

PLUS: Why global money is flowing into Indian banks

Author

Ruchirr Sharma
October 28, 2025

 

Good morning. It’s Oct 28 - International Animation Day and Plush Animal Lover’s Day.

Hug your teddy, thank a cartoon, and let’s see what the real world’s sketching today 👇

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

IPO

After 17 years of tweaking frames, tech, and trust, Lenskart is finally ready for the markets. The eyewear giant will launch its ₹7,300 crore IPO this week, eyeing a valuation north of ₹70,000 crore — a far cry from its scrappy beginnings selling contact lenses online.

Founder and CEO Peyush Bansal says the vision hasn’t changed — just scaled. What began as a mission to “give vision” to millions is now a push to improve life through vision, with smarter, lighter, more stylish eyewear for a billion people.

Once distracted by experiments in watches and bags, Lenskart refocused early, betting on eyewear alone — a move that paid off. Today, it sells over 20 million pairs a year, runs 2,500 stores, and makes half its revenue abroad, from Singapore to Saudi Arabia. Manufacturing, once China-heavy, is now largely Made in India, powered by facilities in Rajasthan and a new factory in Hyderabad.

The IPO, Bansal says, isn’t about raising capital — it’s about earning credibility with a new set of investors. Lenskart is already profitable, cash-rich, and looking long-term.

The next phase? Smart glasses and AI-driven eye care. Lenskart’s “Phonic” Bluetooth eyewear already integrates UPI payments and voice controls — part of its bet that glasses could become the next smartphone.

In short: Lenskart isn’t just listing stock; it’s reframing how India — and the world — sees vision itself.

FDI

After years of keeping foreign investors at arm’s length, India’s banking sector has suddenly become one of the hottest tickets in global finance. Nearly $15 billion in international deals have been struck this year alone — from Blackstone’s $705 million bet on Federal Bank to investments by Emirates NBD, Sumitomo Mitsui, and Zurich Insurance.

So what’s driving the rush? Three things: growth, stability, and scale. India remains the fastest-growing major economy, with credit demand booming across retail, housing, and MSMEs. Despite global headwinds, Indian banks look remarkably clean and well-capitalized — a sharp turnaround from the bad-loan crisis a decade ago. Analysts now call them “primed for growth,” with S&P projecting 11–12% annual credit expansion through FY27.

Add to that India’s digital backbone - UPI, Aadhaar, and online lending rails - and investors see a system that’s modern, underpenetrated, and ready to scale. For global funds, buying into Indian lenders isn’t just a financial bet; it’s an early entry into a trillion-dollar consumption story.

Even public sector banks may soon open up; the government is reportedly weighing a hike in the FDI limit from 20%, signaling that the reform wave isn’t over yet.

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🇩🇪 India, Germany Push for Swift India–EU FTA - India and Germany reaffirmed their strategic partnership and shared goal of swiftly concluding the India–EU Free Trade Agreement (FTA) during Commerce Minister Piyush Goyal’s visit to Brussels. Goyal met German Foreign Minister Johann Wadephul to discuss market access, non-tariff barriers, and regulatory cooperation as both sides aim to finalise the FTA by December 2025. Talks also cover an investment protection pact and a deal on geographical indications. The EU seeks tariff cuts on cars and alcohol, while India wants data-secure status and easier temporary work access for skilled professionals. Bilateral trade between India and the EU reached $136.5 billion in FY25.

🛢️ India boosts U.S. oil imports - India’s crude oil imports from the United States surged to 575,000 barrels per day in October—the highest since 2022—driven by favorable pricing and efforts to diversify away from Russian dependence. The jump, supported by a wider Brent-WTI spread and reduced Chinese demand, made U.S. grades like WTI Midland and Mars more attractive to Indian refiners. While Russia remains India’s top supplier, followed by Iraq and Saudi Arabia, the U.S. share is rising amid tightening sanctions on Russian oil. Analysts say the surge reflects short-term economic gains rather than a structural shift but carries strategic value in strengthening U.S.–India energy ties.

 

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

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