This article explores the gender divide in India's labor force and highlights Cult.Fit's IPO filing as it aims for public markets.
New Delhi, India Jul 8, 2026 ALN: Hello,
Swiggy has crossed a key ownership milestone. The company’s foreign shareholding has fallen below 50% for the first time as the company seeks to qualify as an Indian Owned and Controlled Company (IOCC). This shift is significant in the context of India's regulatory framework, which aims to promote domestic ownership in key sectors. However, the company stated that this change does not alter its ownership, control, or day-to-day operations, indicating that the shift in shareholding is more of a compliance measure rather than a fundamental change in its governance structure.
In other news, the Competition Commission of India (CCI) has cleared upGrad’s acquisition of a stake in Unacademy parent Sorting Hat Technologies, paving the way for the company’s merger with upGrad Education. This merger is part of a broader trend in the Indian edtech sector, where companies are consolidating to strengthen their market positions and expand their offerings amid increasing competition. The merger is expected to combine the strengths of both platforms, potentially leading to enhanced learning experiences for students and a wider array of courses and resources.
The AI race, meanwhile, is becoming strategic. China’s DeepSeek is reportedly building its own inference chip designed to power AI responses, a move that could reduce its reliance on Nvidia and Huawei and strengthen China's homegrown AI ecosystem. This development highlights China's ambition to become a leader in AI technology and reduce dependence on foreign technology providers, which has been a significant concern for the Chinese government. At the same time, Beijing is said to be considering restricting overseas access to its most-advanced AI models, a move that could have implications for global AI research and collaboration.
The global AI hardware race is also fueling a massive hardware boom. Samsung Electronics expects a 19-fold jump in quarterly profits on soaring demand for AI memory chips, highlighting how the AI revolution is creating winners far beyond software. This surge in demand for specialized hardware underscores the growing importance of AI in various sectors, from cloud computing to autonomous vehicles, and signals a shift in investment priorities within the tech industry.
While China tightens control over AI, Australia is grappling with another tech challenge. A new study suggests the country’s world-first ban on social media for under-16s is struggling in practice, with major platforms failing to verify users’ ages during sign-up. This issue raises questions about the effectiveness of age verification measures and the responsibilities of social media companies in protecting young users from potential harms associated with online engagement.
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Insight
India’s labour force data reveal a telling gender divide: while men who stay out of the workforce are often investing in their future through education, women are more likely to step away to shoulder unpaid caregiving and household responsibilities. This disparity is indicative of broader societal norms and expectations that often place the burden of domestic work disproportionately on women. New NSO data show that despite rising female workforce participation in urban India, childcare and domestic work remain major barriers to women’s economic inclusion.
The gender gap is particularly pronounced in the context of unpaid labor. More than half of men (53.5%) who are outside the labour force cite education as the reason, while a striking 68.7% of women report that childcare and household responsibilities keep them from working. This data highlights the urgent need for policy interventions that address the systemic barriers to women's participation in the workforce. Female labour force participation in India’s 46 million-plus cities rose from 19.8% in 2017-18 to 27.2% in 2025, while the Worker Population Ratio increased from 17.9% to 25.5%. Even with these improvements, the progress remains slow and uneven, particularly in rural areas where traditional gender roles are more entrenched.
Women spend nearly three times more time on unpaid domestic and caregiving work than men—363 minutes daily versus 123 minutes. This stark contrast not only reflects the unequal distribution of household labor but also has significant implications for women's economic empowerment and overall well-being. Experts suggest that better childcare infrastructure, flexible work policies, returnship programmes, and shared caregiving responsibilities are essential to keep more women in the workforce. These measures could help create a more equitable work environment and support women's aspirations for career advancement.
Furthermore, the economic impact of caregiving is profound. As women disproportionately shoulder the burden of unpaid work, their contributions to the economy are often undervalued and overlooked. This has implications for economic growth, as a more inclusive workforce could drive productivity and innovation. Addressing the caregiving gap is not only a matter of social justice but also an economic imperative that requires concerted efforts from policymakers, businesses, and society at large.
News
After a decade of building one of India's largest fitness and wellness platforms, Cult.Fit is heading to the public markets. The company has filed its IPO papers, betting that strong growth and shrinking losses will convince investors it's on the path to profitability. The fitness industry in India has seen significant growth in recent years, driven by increased health awareness and a shift towards preventive healthcare.
The IPO includes a Rs 950 crore fresh issue, with funds earmarked for opening new fitness centres, meeting lease obligations, repaying debt, marketing, and expanding its Cultsport retail business. This strategic move reflects Cult.Fit's ambition to solidify its market position and capitalize on the growing demand for fitness and wellness services in India. Existing investors, including Tata Digital, Temasek-backed MacRitchie, Accel, and founder Mukesh Bansal, will also partially exit through an Offer for Sale (OFS), allowing them to realize returns on their investments.
The company’s revenue jumped 41% year-on-year to Rs 1,720.6 crore in FY26, while net losses nearly halved to Rs 251.9 crore. The company is moving closer to break-even, though it is yet to turn profitable. This trajectory is indicative of the broader trends in the wellness industry, where consumer spending on health and fitness is on the rise. Fitness services still contribute about 70% of revenue, but the faster-growing products business such as sports equipment, apparel, and nutrition shows Cult.Fit’s ambition to become a broader consumer wellness brand. This diversification strategy is essential for long-term sustainability and growth in a competitive landscape.
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Which country has the highest share of electric cars?
Answer: Norway
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