Crackdown Begins

Meet Anjan Chatterjee

Why Cleanup Matters

 London Model Audits

Courts And Compliance

Moderation Not Shutdowns

Meet Ashwin Bhadri

Why Scrutiny Surged

Fair Enforcement Playbook

Updating Rules Faster

School Junk Food Ban

One Year Outlook

Wrap Up 

In the second part of the series, Ratna Bhushan, ET's FMCG Editor, brings in two industry voices to dissect the impact of FSSAI and Maharashtra FDA's crackdowns. Anjan Chatterjee, founder of Speciality Restaurants, argues surprise audits are overdue but says license suspension should be a last resort, not a first response. Ashwin Bhadri, founder of Equinox Labs, backs the enforcement push while calling for improvement notices before suspensions, faster novel-ingredient approvals, and mandatory food-safety education in schools. With the Cricket Club of India already in Bombay High Court challenging its suspension, and more legal disputes brewing, this episode asks: can India's food and drink industry clean up fast enough, without the crackdown becoming counterproductive?

Listen in:
You can follow Ratna Bhushan on her social media: Twitter and Linkedin.

Link to Part 1 https://m.economictimes.com/news/morning-brief-podcast/morning-brief-podcast-no-place-to-hide-inside-maharashtras-food-drug-crackdown-part-1/podcast/132753100.cms

Catch the latest episode of ‘The Morning Brief’ on ET Play, The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube.

In the second part of the series, Ratna Bhushan, ET's FMCG Editor, brings in two industry voices to dissect the impact of FSSAI and Maharashtra FDA's crackdowns. Anjan Chatterjee, founder of Speciality Restaurants, argues surprise audits are overdue but says license suspension should be a last resort, not a first response. Ashwin Bhadri, founder of Equinox Labs, backs the enforcement push while calling for improvement notices before suspensions, faster novel-ingredient approvals, and mandatory food-safety education in schools. With the Cricket Club of India already in Bombay High Court challenging its suspension, and more legal disputes brewing, this episode asks: can India's food and drink industry clean up fast enough, without the crackdown becoming counterproductive?
Listen in: You can follow Ratna Bhushan on her social media: <a href="https://mobile.twitter.com/ratnabhushanET">Twitter</a> and <a href="https://www.linkedin.com/in/ratna-bhushan-aa83aa21">Linkedin</a>.
Link to Part 1 <a href="https://m.economictimes.com/news/morning-brief-podcast/morning-brief-podcast-no-place-to-hide-inside-maharashtras-food-drug-crackdown-part-1/podcast/132753100.cms">https://m.economictimes.com/news/morning-brief-podcast/morning-brief-podcast-no-place-to-hide-inside-maharashtras-food-drug-crackdown-part-1/podcast/132753100.cms</a>
Catch the latest episode of &lsquo;The Morning Brief&rsquo; on <a href="https://www.etplay.com/etplay">ET Play</a>, <a href="https://economictimes.indiatimes.com/podcast?from=mdr">The Economic Times Online</a>,<a href="https://open.spotify.com/show/6PL5kfPbwURBEu6fHCVTOL?si=26ec0fbfa7134fea"> Spotify</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777">Apple Podcasts</a>, <a href="https://www.jiosaavn.com/shows/the-morning-brief/1/GNPiFQD2xpY_">JioSaavn</a>, <a href="https://music.amazon.in/podcasts/f378141f-9afb-495d-83da-9b08ec5047ac/the-morning-brief">Amazon Music</a> and <a href="https://www.youtube.com/@theetpodcasts">Youtube</a>.

To make sense of the week’s hottest stories in business, economy, politics and markets, journalists from the Economic Times chat with reporters and industry leaders in this thrice-weekly (Tuesday, Thursday, Friday) podcast.

The Morning Brief

No Place To Hide (Part 2): Why India’s Food Industry Is Cleaning Up Its Act 

AI Hype to ROI

Token Spending Problem

Building the AI Harness

Cognizant as AI Builder

Scaling Beyond Pilots

M&A Strategy Explained

Geopolitics and Sovereign Models

GCCs and Healthcare Impact

Future of Work and Wrap

AI adoption is soaring, but where are the financial returns? Surya Gummadi, President, Americas at Cognizant, argues that enterprises are consuming tokens without always choosing the right use cases. He joins Anirban Chowdhury to explain why companies remain trapped in pilot mode and what it takes to scale AI successfully. Gummadi discusses the coming transformation of coding, testing, talent models and IT contracts; Cognizant’s approach to acquisitions; the evolution of GCCs; and AI’s potential in healthcare. He also reveals how Cognizant used context agents to identify $200 million in new opportunities within three to four months.

Listen in:

You can follow Anirban Chowdhury on his social media: X and Linkedin

Catch the latest episode of ‘The Morning Brief’ on The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube.

AI adoption is soaring, but where are the financial returns? Surya Gummadi, President, Americas at Cognizant, argues that enterprises are consuming tokens without always choosing the right use cases. He joins Anirban Chowdhury to explain why companies remain trapped in pilot mode and what it takes to scale AI successfully. Gummadi discusses the coming transformation of coding, testing, talent models and IT contracts; Cognizant&rsquo;s approach to acquisitions; the evolution of GCCs; and AI&rsquo;s potential in healthcare. He also reveals how Cognizant used context agents to identify $200 million in new opportunities within three to four months.
Listen in: You can follow Anirban Chowdhury on his social media:<a href="https://twitter.com/AnirbanET"> X</a> and<a href="https://www.linkedin.com/in/anirban-chowdhury-b5067219/"> Linkedin </a>Catch the latest episode of &lsquo;The Morning Brief&rsquo; on<a href="https://economictimes.indiatimes.com/podcast?from=mdr"> The Economic Times Online</a>,<a href="https://open.spotify.com/show/6PL5kfPbwURBEu6fHCVTOL?si=26ec0fbfa7134fea"> Spotify</a>,<a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777"> Apple Podcasts</a>,<a href="https://www.jiosaavn.com/shows/the-morning-brief/1/GNPiFQD2xpY_"> JioSaavn</a>,<a href="https://music.amazon.in/podcasts/f378141f-9afb-495d-83da-9b08ec5047ac/the-morning-brief"> Amazon Music</a> and<a href="https://www.youtube.com/@theetpodcasts"> Youtube</a>.

 Cognizant’s Surya Gummadi on How AI Can Deliver Returns

Hospitals Already Transformed

Schools The Next Prize

Why Parents Keep Paying

Scale Stories And Demand

How School Trusts Work

Regulation And Fee Limits

Hospital Playbook Opco Propco

Promise Versus Profit Fears

Exits Still Unproven

Private equity is expanding into India’s K-12 school sector, following the same playbook it used to reshape private hospitals. Since Indian schools must legally operate as not-for-profit trusts, PE firms like KKR, Blackstone, and Kedaara invest indirectly through separate for-profit “OpCo” service companies that charge trusts for management, infrastructure, and operations—mirroring hospital structures. The appeal: predictable, long-term cash flow from families who rarely withdraw children mid-cycle, rising fees, and unmet demand for quality private education. Regulatory hurdles, fee caps, and mandated free seats for low-income students complicate profitability. Unlike hospitals, no major PE-backed education platform has yet achieved a successful exit, leaving the model’s long-term viability untested.

Alenjith K Johny and Mohit Bhalla report; Anirban Chowdhury narrates for audio. 

You can follow Anirban Chowdhury on his social media: X and Linkedin

Check out other interesting episodes like:ET Deep Dive: Swipe Left on Reality,India wants manufacturing at 25% of GDP — will AI in factories help?, Tanay Kothari Wants To Kill The Keyboard,From Doer to Director: The LinkedIn Playbook for the AI Agea, Semaglutide Goes Generic: Big Pharma’s Moat Breaks  and much more.

Catch the latest episode of ‘The Morning Brief’ on The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube.

Private equity is expanding into India&rsquo;s K-12 school sector, following the same playbook it used to reshape private hospitals. Since Indian schools must legally operate as not-for-profit trusts, PE firms like KKR, Blackstone, and Kedaara invest indirectly through separate for-profit &ldquo;OpCo&rdquo; service companies that charge trusts for management, infrastructure, and operations&mdash;mirroring hospital structures. The appeal: predictable, long-term cash flow from families who rarely withdraw children mid-cycle, rising fees, and unmet demand for quality private education. Regulatory hurdles, fee caps, and mandated free seats for low-income students complicate profitability. Unlike hospitals, no major PE-backed education platform has yet achieved a successful exit, leaving the model&rsquo;s long-term viability untested.
Alenjith K Johny and Mohit Bhalla report; Anirban Chowdhury narrates for audio. You can follow Anirban Chowdhury on his social media:<a href="https://twitter.com/AnirbanET"> X</a> and<a href="https://www.linkedin.com/in/anirban-chowdhury-b5067219/"> Linkedin </a>Check out other interesting episodes like:<a href="https://podcasts.apple.com/in/podcast/et-deep-dive-swipe-left-on-reality/id1568661777?i=1000763614435&amp;l=te">ET Deep Dive: Swipe Left on Reality</a>,<a href="https://podcasts.apple.com/in/podcast/india-wants-manufacturing-at-25-of-gdp-will-ai-in/id1568661777?i=1000760758322">India wants manufacturing at 25% of GDP &mdash; will AI in factories help?</a>, <a href="https://podcasts.apple.com/us/podcast/tanay-kothari-wants-to-kill-the-keyboard/id1568661777?i=1000758892178">Tanay Kothari Wants To Kill The Keyboard</a>,<a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777?i=1000738205536"> </a><a href="https://podcasts.apple.com/in/podcast/from-doer-to-director-the-linkedin-playbook-for-the-ai-age/id1568661777?i=1000756242616">From Doer to Director: The LinkedIn Playbook for the AI Agea</a>, <a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777?i=1000756051799">Semaglutide Goes Generic: Big Pharma&rsquo;s Moat Breaks</a>&nbsp; and<a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777"> much more</a>.
Catch the latest episode of &lsquo;The Morning Brief&rsquo; on<a href="https://economictimes.indiatimes.com/podcast?from=mdr"> The Economic Times Online</a>,<a href="https://open.spotify.com/show/6PL5kfPbwURBEu6fHCVTOL?si=26ec0fbfa7134fea"> Spotify</a>,<a href="https://podcasts.apple.com/in/podcast/the-morning-brief/id1568661777"> Apple Podcasts</a>,<a href="https://www.jiosaavn.com/shows/the-morning-brief/1/GNPiFQD2xpY_"> JioSaavn</a>,<a href="https://music.amazon.in/podcasts/f378141f-9afb-495d-83da-9b08ec5047ac/the-morning-brief"> Amazon Music</a> and<a href="https://www.youtube.com/@theetpodcasts"> Youtube</a>.

The New Kids' Table: Private Equity Goes to School

No Place to Hide

Maharashtra Crackdown

Meet Tulka Ram Munde

 Why the Raids Now

Mission Safe Food Drugs

Public Complaint Tools

Building Compliance Culture

Pressure and Pushback

Hospitals Pharmacy Rights

Spurious Drugs and GMP

Drug Pricing Scrutiny

Stopping OTC Antibiotics

Whats Next on Radar

Wrap Up

Since late May 2026, Maharashtra has been in the middle of one of its most aggressive food and drug enforcement drives in years — adulterated prasad seized near Shirdi, synthetic milk units shut down, the license of Mumbai’s Parsi Dairy Farm suspended, hospitals pulled up for forcing patients to buy from in-house pharmacies, and over 1,100 raids conducted statewide in just two months. The trigger: a widening gap between food safety standards on paper and enforcement on the ground, rising antimicrobial resistance from unchecked antibiotic sales, and a regulator willing to finally use the full force of the law.

This is the first of a two-part series on that crackdown. In this episode, ET’s pharma editor Vikas Dandekar speaks to the man driving it: Tukaram Mundhe, Commissioner of Maharashtra FDA. A 2005-batch IAS officer transferred 25 times in 21 years, Mundhe is known for his uncompromising style. They discuss what’s fueling the crackdown, whether it can survive political pressure, and if this enforcement is sustainable.

Listen in

Since late May 2026, Maharashtra has been in the middle of one of its most aggressive food and drug enforcement drives in years &mdash; adulterated prasad seized near Shirdi, synthetic milk units shut down, the license of Mumbai&rsquo;s Parsi Dairy Farm suspended, hospitals pulled up for forcing patients to buy from in-house pharmacies, and over 1,100 raids conducted statewide in just two months. The trigger: a widening gap between food safety standards on paper and enforcement on the ground, rising antimicrobial resistance from unchecked antibiotic sales, and a regulator willing to finally use the full force of the law.
This is the first of a two-part series on that crackdown. In this episode, ET&rsquo;s pharma editor Vikas Dandekar speaks to the man driving it: Tukaram Mundhe, Commissioner of Maharashtra FDA. A 2005-batch IAS officer transferred 25 times in 21 years, Mundhe is known for his uncompromising style. They discuss what&rsquo;s fueling the crackdown, whether it can survive political pressure, and if this enforcement is sustainable.
Listen in

No Place to Hide: Inside Maharashtra’s Food & Drug Crackdown (Part 1) 

No Place To Hide (Part 2): Why India’s Food Industry Is Cleaning Up Its Act

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