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Indias quiet drift toward duopoly: A risk investors can no longer ignore

India's markets are consolidating into duopolies, with two dominant players controlling nearly 90% of sectors like aviation, food delivery, and digital payments. This concentration, exemplified by IndiGo and Air India, shifts incentives from customer service to market management, potentially harming consumers and innovation. The government is now intervening to foster new competition.

27 Dec 2025 10:05 am