Leading with purpose creates wins for consumers, community and country: Hina Nagarajan of Diageo India

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Nobody’s Perfect Retro Porsche Ad

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In conversation with IHCL’s Puneet Chhatwal & GroupM’s Kate Scott-Dawkins

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Storyboard18 x The English Nut: How to pronounce these 10 brand names

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In conversation with VMLY&R’s Hari Ramanathan

For centuries, the allure of a diamond, mined from deep within the earth, forged over billions of years, has captivated hearts and anchored fortunes. But in the heart of India, one of the world’s largest diamond polishing hubs, that tradition is undergoing a dramatic transformation. The emergence of lab-grown diamonds, once viewed as a technological curiosity, has become a disruptive force in the natural diamond market. Increasingly favored by a younger, value-conscious consumer base, lab-grown diamonds are gaining traction among a new class of entrepreneurs, challenging both the business and cultural dominance of mined stones.

In response, legacy diamond companies are fighting back. De Beers Group, the South African–British titan, has ramped up its advertising efforts, leveraging mass media to emphasize the authenticity and allure of natural diamonds.

In one of its print campaigns, De Beers made its stance unmistakably clear, declaring, “Love so natural, only a natural diamond will do.”

The message did not go unanswered. Priyanka Gill, the founder of the soon-to-be-launched lab-grown diamond brand Coluxe, offered a pointed rebuttal. 'Real things don’t leave scars behind,' she said, reframing the debate around environmental responsibility and modern authenticity.

De Beers’ retreat from its own lab-grown venture, Lightbox, earlier this year after a six-year run further signals the shifting dynamics. The company cited declining value in the segment as a key factor in its exit.

Storyboard18 reached out to De Beers' India office for comment. The story will be updated if and when an official response is received.

“The market has moved,” said Gill. “There’s a new reality in fine jewelry, and legacy brands are struggling to keep up.”

One company riding that wave is Jewelbox, a rising lab-grown diamond startup that has quickly gained momentum among Indian consumers. The firm, co-founded by Vidita Kochar, has grown from a niche digital brand into a brick-and-mortar player, closing FY25 with Rs30 crore in revenue and projecting a sixfold increase by FY26. It currently operates eight stores, with plans to expand to 25 by year’s end.

“Our initial focus was purely educational,” said Kochar. “We needed to tell people what lab-grown diamonds were. Now, it’s about brand recall and emotional connection.”

That strategy has included high-visibility moves - Jewelbox has invested in outdoor advertising and even fielded a cricket team, the Jewelbox Jaguars, in the Surat Cricket League. Kochar says sports marketing is a natural extension of the brand’s identity.

“Cricket is not just a game in India. It’s emotion,” she said. “We’re starting small, but one day we hope to be on the IPL stage.”

The competition between traditional and lab-grown players is not only a commercial rivalry but also a regulatory and reputational one. Industry leaders are calling for guidelines to ensure fair play.

Vipul Shah, former chairman of the Gem and Jewellery Export Promotion Council (GJEPC), advocated for a unified educational campaign by lab-grown diamond brands to raise consumer awareness. Meanwhile, GJEPC member Smith Patel emphasized the importance of responsible marketing.

“Negative campaigns hurt everyone,” Patel said. “Brands should promote their strengths, not attack each other.”

Even India’s biggest conglomerates are taking notice. Tata Group’s Trent, Senco Gold, and Aditya Birla Group’s Indriya brand are all testing the waters in the lab-grown segment. Government support, insiders say, is forthcoming - with guidelines expected soon on hallmarking for both natural and lab-grown diamonds.

“Natural diamonds will likely see hallmarking rules similar to those for gold,” Shah noted. “That’s good for transparency and consumer trust.”

Still, legacy brands face difficult decisions. While adapting to market trends is essential, shifting into lab-grown territory may jeopardize the exclusivity they’ve spent decades cultivating.

“If a brand known for mined diamonds starts selling lab-grown ones, the price gap and visual similarity could confuse or even alienate customers,” said Gill. “Trust takes years to build - and minutes to erode.”

Instead, she believes the lab-grown sector must be led by purpose-driven newcomers. Coluxe, set to launch in June, is built around “luxury for everyday life” and a philosophy of stacking jewelry to mark life’s milestones.

“Starting a lab-grown diamond business is easy,” Gill said. “Building a brand? That’s the real challenge.”


Diamond Brand Wars: As lab-grown sparkles rise, traditional giants push back

As the Indian Premier League (IPL) continues to command attention across the nation, marketing experts are advocating for an omnichannel approach to advertising, urging brands to expand their presence beyond traditional platforms.

<a href="https://www.storyboard18.com/special-coverage/leading-with-purpose-creates-win-for-consumers-community-and-business-hina-nagarajan-of-diageo-india-60584.htm">Leading with purpose creates win for consumers, community, and business: Hina Nagarajan of Diageo India</a>

"Since IPL is omnipresent - with consumers simultaneously scrolling, tweeting, and shopping during matches—leveraging a cross-channel strategy is crucial to capturing fragmented attention across the open web, social media, and mobile platforms," said Saurabh Khattar, Country Manager at IAS India. "Brands should move beyond a single-screen focus and adopt a multichannel approach."

Speaking at the Storyboard18 Global Pioneers Summit 2025, Khattar emphasized the importance of contextual advertising, advising brands to align their campaigns with key IPL moments. "Beyond brand safety, marketers must prioritize measuring audience attention and optimizing ad spend to maximize returns on advertising investment (ROAS)," he noted.

<a href="https://www.storyboard18.com/special-coverage/colgate-palmolives-prabha-narasimhan-on-prioritizing-integrity-instead-of-metrics-in-business-60587.htm">Colgate-Palmolive's Prabha Narasimhan on prioritizing integrity instead of metrics in business</a>

The shifting dynamics of media consumption were also a focal point of discussion. Tushar Malhotra, Director of Sales and Marketing at Bisleri India, highlighted the growing influence of younger consumers. "The digital landscape has evolved rapidly. Traditional metrics like Share of Voice (SOV) and Gross Rating Points (GRP) once dominated advertising budgets, but Gen Z audiences are moving away from television in favor of digital platforms. To engage this demographic effectively, brands must cultivate a strong digital presence," Malhotra said.

He further emphasized the need for an integrated marketing approach, in which messaging is seamlessly distributed across multiple channels to reach a diverse consumer base.

MVS Murthy, Chief Marketing Officer at Federal Bank, acknowledged the challenges of engaging an increasingly fragmented audience. "My concern is whether a narrative designed for a 45-second television spot can be effectively translated into an Instagram Reel," he said. With consumers engaging with media content around the clock, brands must find innovative ways to remain relevant and sustain audience engagement, he added.

<a href="https://www.storyboard18.com/special-coverage/democratisation-partnerships-and-purpose-driven-growth-to-achieve-viksit-bharat-jagrut-kotecha-of-pepsico-60598.htm">Democratisation, partnerships, and purpose-driven growth to achieve 'Viksit Bharat': Jagrut Kotecha of PepsiCo</a>

Looking ahead, Murthy predicted that global brands will prioritize measurable advertising performance, while mid-sized companies may continue to allocate resources to non-digital channels. "We are witnessing a significant shift in above-the-line (ATL) advertising as mid-market and mid-tier segments in India experience growth," he observed.

Khattar also highlighted the growing role of Connected TV (CTV) in digital marketing. "Digital and video marketing are expanding rapidly, and within this space, CTV has emerged as a premium channel," he said. "In 2023, India had nearly 28 million CTV households, a number expected to reach 50 million by the end of 2025. As a result, ad-supported streaming is on the rise, offering brands enhanced measurability and real-time optimization capabilities."

As digital media consumption patterns continue to evolve, marketers remain focused on devising innovative strategies to keep pace with an ever-changing landscape.

<a href="https://www.storyboard18.com/special-coverage/dream11s-ipl-campaign-creators-unveil-behind-the-scenes-insights-at-storyboard18s-global-pioneers-summit-60662.htm">Dream11's IPL campaign creators unveil behind-the-scenes insights at Storyboard18's Global Pioneers Summit</a>


More about the Storyboard18 Global Pioneers Summit

The Global Pioneers Summit is a celebration and exploration of the transformative potential of creativity, empowering individuals and businesses to think differently, act boldly, and craft a future that resonates with purpose and vision. Creativity is not just about artistic expression — it is a force for solving real-world problems, innovating products, and creating connections in ways that traditional methods cannot. And there are pioneers behind this shift, who have dared to think different.

The Global Pioneers Summit stands as a premier celebration of the visionary forces propelling businesses forward, spotlighting the global brands emerging from India — an ever-growing hub of creativity and innovation on the world stage. From groundbreaking innovations to impactful storytelling, key decision-makers and innovators from business, marketing, advertising, tech, and academia exchange insights, build connections, and draw inspiration from some of the most compelling work driving industries forward globally.

In today's rapidly evolving world, creativity can be a powerful force to drive business growth, shape industries, and influence societal behavior, culture, and values. Storyboard18 Global Pioneers Summit puts the spotlight on the true purpose and power of creativity and the pioneers leading the way.

Watch here:

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Cricket, commerce, connectivity: Top marketers on how brands can win big in IPL

In a highly engaging panel curated on the opening day of India Digital Summit 2025 titled ‘Amplifying Voices: How India’s Streaming Platforms are Shaping the Future of Entertainment’, Sonal Kabi, Director & Head of Marketing, Prime Video, India, delved into various aspects of story selection and marketing innovation in streaming, while highlighting Prime Video’s role in taking Indian stories to global audiences.

 
Moderated by Archita Kashyap, in addition to Sonal Kabi, the panel saw participation from Aloke Majumder, Vice President of Technology at Hoichoi, and Saurabh Srivastava, COO - Digital Business at Shemaroo Entertainment.

 
She further spoke about evolving viewing tastes and preferences, along with the growing demand for diverse, fresh content, are key factors in developing or commissioning a project. 


On being asked about what kind of value addition to Indian storytelling can be expected to be seen in the long run, Kabi replied, “It’s a privilege that we are able to take Indian stories to audiences in over 240 countries and territories. When we're developing a story, we’re thinking first – how will it find sizable viewership and success within the market where we are commissioning it. But there's no denying that it will be streamed and appreciated by audiences across many countries. A good story will always find its audience.”

 
Being asked about her views on how Prime Video uses marketing for customer engagement, Kabi shared, “We're in the entertainment business. If the campaign is not entertaining, it's not a great campaign. So, with every campaign, what we're trying to look for is something bold, interesting, and something disruptive.”

 
Responding to the question on whether Indian content is making a mark globally, Kabi spoke about the fact that with localisation, Indian content has actually gained fans worldwide, and over 25% audience of Indian titles on Prime Video comes from outside India. Elaborating on the same with examples of Amazon Originals, she said, “Citadel: Honey Bunny was the most watched series on Prime Video worldwide in its launch weekend, and was streamed in 200 countries worldwide, trending in Top 10 on Prime Video in almost 150 countries. Similarly, Call Me Bae was viewed in over 165 countries worldwide, featuring among the top 10 trending titles on Prime Video in 50+ countries in its launch week.”

 
<a href="https://www.storyboard18.com/how-it-works/from-scripts-to-screens-heres-how-ai-is-redefining-indias-entertainment-landscape-53192.htm">Read: From Scripts to Screens: Here's how AI is redefining India’s entertainment landscape</a>


<a href="https://www.storyboard18.com/how-it-works/entertainment-industry-faces-crossroads-slowing-production-and-shifting-trends-52439.htm">Read: Entertainment industry faces crossroads: Slowing production and shifting trends</a>

Over 25% audience of Indian titles on Prime Video comes from outside India: Sonal Kabi

The Indian EdTech sector stands at the intersection of education, technology, and economic growth. In India where over 65%  of the population is under 35 years of age, EdTech platforms are redefining how education is accessed, delivered, and experienced. With a market valued at USD 7.5 billion in 2024 and projected to reach USD 29 billion by 2030, the sector’s journey highlights its transformative potential and resilience in the face of challenges

An EdTech report by Internet and Mobile Association of India (IAMAI) called 'Impact study of EdTech in 
India', says that lowering the GST on EdTech services could significantly boost the sector by making education more affordable and accessible while driving economic growth and increasing revenue.

In recent years, the rising demand for EdTech services has contributed significantly to the economy through taxes. However, the current 18% GST rate on these services poses a challenge by making them more expensive. This is particularly concerning as other segments of education in India benefit from lower tax rates and substantial subsidies.

If the GST rate on EdTech services were reduced from 18% to 5%, the sector could experience an impressive 34% compound annual growth rate (CAGR). This reduction would make EdTech courses more affordable for school students, competitive exam aspirants, and professionals seeking skill development to enhance employability.

Projections show that revenue under a 5% GST regime would consistently exceed what would be generated at the current 18% rate, with revenues expected to reach USD 28 billion by 2031-32. This highlights how a lower GST rate not only promotes greater access to education but also fosters industry growth, increases government revenue, and supports the goal of making quality education more accessible and equitable.



Lowering GST from 18% to 5% in EdTech will boost industry growth: Report

Several new initiatives are being taken and shared at the India Digital Summit being held in New Delhi. Information regarding the World Audio Visual & Entertainment Summit (Waves) has also been disclosed at this summit. Waves 2025 is being organised by the Ministry of Information and Broadcasting, Government of India, to celebrate and amplify India’s creative and media economy. 

As part of the upcoming Waves Summit, the Ministry is also launching the Create in India Challenge, Season 1, which will feature several ‘challenges’ aimed at fostering innovation and creativity. Out of these, the Internet and Mobile Association of India (IAMAI) is collaborating is organising four key challenges: Waves Reel Making Challenge in partnership with Meta, Waves Explorer Challenge in association with YouTube, Waves Chronicles: AI Comic Art Challenge in association with Google Play and Waves AI Art Installation Challenge. These challenges aim to bring together creators, technologists, and innovators to explore the intersection of art, technology, and storytelling, further positioning India as a leader in the global creative economy.

The WAVES Summit is poised to serve as a global platform for India’s creative talents, fostering collaborations and showcasing the country’s potential as a hub for world-class content creation. It will also highlight India's advancements in animation, gaming, entertainment technology, and regional and mainstream cinema. The Prime Minister’s call to action underlines the government’s commitment to nurturing India’s creative economy and solidifying its position as a global leader in media and entertainment.

<a href="https://www.storyboard18.com/how-it-works/breaking-mibs-waves-postponed-likely-to-be-held-in-mumbai-52898.htm">Read: MIB's WAVES postponed, likely to be held in Mumbai</a>

<a href="https://www.storyboard18.com/digital/waves-summit-shows-indias-readiness-to-lead-in-technological-advancements-within-the-media-sector-says-53741.htm">Read: 'Waves Summit shows India’s readiness to lead in technological advancements within the media sector', saysShri C Senthil Rajan, Joint Secy, I&B</a>

I&B Ministry initiates 'Create in India Challenge' for the upcoming Waves summit

Sports brand PUMA India has expanded its sporting portfolio by partnering with Indian badminton icon and two-time Olympic medallist PV Sindhu in a multi-year collaboration. This marks PUMA’s official foray into badminton, making India a pioneer within the PUMA universe to access the racquet-sport. Through this association, PUMA looks to further strengthen its sports-first presence, elevating badminton’s profile in the country, and inspiring the next generation of athletes.

Commenting on the partnership, PV Sindhu said, “I’m excited to join the PUMA family, a brand that shares my belief in the power of sport to inspire. This partnership with PUMA India isn’t just about being part of something bigger—it is an opportunity to connect with those who value pushing boundaries and embracing challenges. Badminton has always been a platform for growth and self-discovery for me, and through this collaboration, I hope to encourage others, especially women, to take risks, believe in themselves, and strive for more—both on and off the court."

Karthik Balagopalan, Managing Director of PUMA India, added, “PV Sindhu is a legend and a trailblazer, and we are proud & delighted to welcome her into our PUMA family. She is the most followed badminton athlete in the world. Her extraordinary legacy in Indian sports which includes a lot of historic firsts has not only placed India on the badminton map globally but has also inspired millions, pushed the boundaries, and paved the way for future generations of athletes. As we make our first-ever step into badminton, this association will further our goal to increase PUMA’s footprint in the rapidly growing sports landscape in the country, inspiring more youngsters to take up the racquet-sport.”

Ahead of the announcement, PUMA India launched a never-done-before activation wherein the sports brand made a serious move by changing its brand signage at several of its stores across the country for close to a week. The brand name ‘PUMA’ was changed to ‘PVMA’, as a massive gesture to celebrate the legendary Sindhu. This big move created ample buzz on the internet over the last few days. 

As part of this partnership, PUMA will also launch a high-performance badminton range soon, featuring specialised footwear, apparel, and accessories. The upcoming collection is designed to redefine on-court performance while catering to the lifestyle aspirations of sports enthusiasts, drawing on the insight that community-driven activities—whether sports or otherwise—motivate people to show up looking their best.

PUMA’s association with Sindhu places her alongside an impressive roster of the brand’s elite athletes, featuring cricketing icons Harmanpreet Kaur, Mohammed Shami, Olympian Sarabjot Singh, Paralympian Avani Lekhara, boxing champ MC Mary Kom, to lifestyle icons like Kareena Kapoor Khan, Ibrahim Ali Khan Pataudi and international legends such as Usain Bolt and Neymar Jr.

The partnership between PUMA and Sindhu will debut at the India Open 2025, providing the platform for a dynamic collaboration which will set the tone for the future of badminton in India.

<a href="https://www.storyboard18.com/gaming-news/indias-sports-ecosystem-to-grow-double-its-gdp-at-14-cagr-reveals-google-deloitte-report-47458.htm">Also Read: India's sports ecosystem to grow double its GDP at 14% CAGR, reveals Google-Deloitte report</a>

PUMA India signs PV Sindhu as brand ambassador, targets India's badminton market

Disney has unveiled its latest advancements in artificial intelligence at its fifth annual Global Tech & Data Showcase during CES in Las Vegas. The event highlighted how AI is transforming Disney’s approach to advertising, with groundbreaking tools and collaborations designed to enhance audience engagement, targeting, and campaign efficiency.

Disney’s Pioneering AI Innovations

Disney Select AI Engine: This advanced tool allows brands to create custom lookalike audiences and deliver sequential messaging while expanding reach without breaching frequency limits. Integrated into Disney’s award-winning Clean Room ecosystem, the AI engine uses machine learning to deliver precise and actionable results.

Disney Magic Words LIVE: Building on its beta version from last year, Magic Words now captures real-time mood and emotions during live sports and entertainment events. This innovative technology will soon include biddable activation, offering brands dynamic opportunities to engage audiences in the moment.

Disney Compass: A proprietary data platform that simplifies the advertising process by combining Disney’s first-party data, insights, and vendor integrations in one user-friendly hub. This platform enables brands to launch campaigns seamlessly, supported by unparalleled data insights.

Collaborations and Achievements

Disney announced a landmark partnership with Publicis CoreAI, making Publicis the first agency holding company to integrate with Disney Compass. This collaboration allows brands to activate campaigns using insights from their own data, Publicis’ proprietary data, and Disney’s robust first-party data.

Disney’s BridgeID identity framework, which streamlines digital workflows and ensures cohesive cross-platform targeting, has seen rapid adoption. Disney’s new Bridge ID serves as the digital key bridging Disney’s Audience Graph to the data capabilities of advertisers. By 2024, over 6,500 brands had embraced this solution, cementing its role in modern advertising.

Accelerating Innovation

Dana McGraw, Disney’s SVP of Data and Measurement Science, commented on the company’s forward-thinking approach: “Disney isn’t just keeping up; we’re setting the pace for innovation in advertising. With over a decade of investment in machine learning and audience segmentation, we continue to redefine the possibilities for brands across screens.”

These cutting-edge advancements emphasise Disney’s commitment to leading the charge in AI-driven advertising, offering brands sophisticated tools to connect with audiences like never before.

<a href="https://www.storyboard18.com/advertising/disneys-ad-supported-maus-hit-157-million-globally-52780.htm">Also Read: Disney's ad-supported monthly active users' count hits 157 million globally</a>

How Disney is harnessing AI to revolutionise advertising strategies

India's job market continues to witness demand for digital marketers and content creators, despite the boom in Artificial Intelligence jobs.

According to a report by TeamLease Edtech, the Marketing and Advertising sector saw a steady 9 percent hiring intent in the second-half of 2024 (HY2 2024), driven by surge in digital advertising, content marketing expansion, and data-driven marketing strategies.

Hiring in ad and marketing sector is propelled by the rise of e-commerce and digital platforms demanding targeted advertising.

<a href="https://www.storyboard18.com/how-it-works/hiring-2-0-how-indias-ceos-are-leveraging-social-media-and-campus-tours-to-attract-talent-49257.htm">Hiring 2.0: How India’s CEOs are leveraging social media and campus tours to attract talent</a>

According to TeamLease Edtech, companies across sectors such as consumer durables, tourism, automotive, quick commerce and ecommerce are focusing on brand engagement through meaningful content, leveraging analytics for personalised consumer experience.

Industries have also scaled up their digital marketing budgets due to superior targeting capabilities of digital platforms and cost-effectiveness of digital platforms.

Jaideep Kewalramani, COO and Head of Employability Business, TeamLease EdTech said, "We are living in a digital-first world where students aggressively investing in emerging marketing skills will unlock unprecedented career opportunities".

<a href="https://www.storyboard18.com/how-it-works/e-commerce-tech-startups-lead-hiring-sentiments-for-freshers-report-48287.htm">E-commerce, tech startups lead hiring sentiments for freshers: Report</a>

He added that freshers equipped with marketing analytics, content creation, and technological insights are becoming "catalysts" for brands' success.

'Job roles in the ad industry'

TeamLease report highlighted that the high-demand job roles include SEO Executives; Market Research Assistants, Social Media Analyst and Social Media specialists.

Freshers looking to enter the sector should have a comprehensive skill set. Technical skills such as SEO, social media management, and content creation are crucial. Besides, marketing analytics, keyword research, and trend analysis are other areas where freshers can focus.

Mumbai and Bengaluru have emerged as key hiring hubs while Gurugram and Pune have shown moderate growth in hiring for ad and marketing sectors.

AI taking your job?: Marketing, Advertising sector sees 9% surge in hiring intent in HY2 2024

India's job market has witnessed a spike in the demand for skilled entry-level digital marketers despite slowdown in other job roles for freshers, a report by Kraftshala claimed.

The job platform highlighted a steady increase in entry-level hiring in 2024, driven by agencies and large brands actively seeking skilled professionals.

It said that agencies accounted for 60 percent of marketing roles, with Bengaluru, Mumbai, and Delhi emerging as dominant hiring hubs at (67 percent). Interestingly, cities like Pune, Hyderabad, Jaipur, Chennai, and Kolkata are also growing in digital marketing landscape, the report added. 

According to Kraftshala, Bengaluru remained the top choice for competitive compensation, with 28 percent of roles in the city offering higher CTCs. Cities like Chennai and Noida, despite their smaller market size, also offered premium compensation for niche skills.

	
<a href="https://www.storyboard18.com/how-it-works/b-school-placements-digital-marketing-social-media-managers-among-most-in-demand-roles-for-freshers-49544.htm">B-School placements: Digital marketing, social media managers, among most in-demand roles for freshers</a>

Further, the report mentioned the workplace trend in 2024, wherein it said that 93 percent of the roles floated in 2024 were either in-office or hybrid, and only 7 percent were fully remote.

According to Krafshala's report, Eemployers emphasized on collaboration and on-the-ground problem-solving. Besides, fluency in English remained another significant factor for success, with over 80 percent of marketing roles requiring understanding and a certain level of fluency in the language.

<a href="https://www.storyboard18.com/how-it-works/broadcasting-media-and-advertising-salaries-soar-in-october-digital-marketing-lags-foundit-48409.htm">Broadcasting media and advertising salaries soar in October, digital marketing lags: Foundit</a>

It also noted that recruiters are shifting their focus away from traditional hiring processes like aptitude and psychometric tests, instead prioritizing tasks that gauge problem-solving abilities and encourage candidates to apply themselves. 

"Recruiters are not just looking for candidates with certificates but those who can bring real value through their problem-solving abilities and technical knowledge. There is a clear departure from traditional hiring practices. Employers are willing to pay premium salaries even for entry-level roles, provided the candidates can demonstrate their ability to think critically and adapt to emerging technologies," Varun Satia, Founder and CEO of Kraftshala said.

India sees steady increase in entry-level digital marketing jobs in 2024: Report

SpiceJet on Wednesday settled its $131.85 million (approximately Rs 1,107 crore) dispute with its lessors, Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd, which are the lessors under the management of Babcock & Brown Aircraft Management (BBAM). In a stock exchange filing, SpiceJet said it resolved the dispute with the lessors for $22.5 million.

The no-frills carrier said that by resolving the dispute, the airline has "cleared a significant hurdle, paving the way for improved financial stability and operational efficiency".

The settlement comes close on the heels of SpiceJet’s successful resolution of a dispute with Engine Lease Finance Corporation (ELFC) on September 24, which had claimed $16.7 million. SpiceJet also raised Rs 3,000 crore via Qualified Institutional Placement (QIP) last month.

<a href="https://www.storyboard18.com/agency-news/spicejet-appoints-joyakesh-podder-as-dy-chief-financial-officer-as-cfo-ashish-kumar-resigns-37309.htm">SpiceJet appoints Joyakesh Podder as Dy Chief Financial Officer as CFO Ashish Kumar resigns</a>

Ajay Singh, Chairman and Managing Director of SpiceJet, stated, “This landmark settlement with BBAM allows us to significantly reduce our liabilities and reinforces our efforts to emerge as a more robust airline. Together with the funds raised through our QIP, we are well-positioned to focus on growth, ungrounding our fleet, and expanding our services".

Yesterday, SpiceJet informed that it would be expanding its fleet by November-end by inducting 10 aircraft. According to the domestic carrier, seven aircraft will be acquired on lease, while three previously grounded planes will be reintroduced into service.

The airline has already signed agreements for the leased aircraft, with the full induction of all seven planes expected by November 15. Two of these leased aircraft have already arrived in India and are scheduled for immediate induction, the airline told in an exchange filing on Monday.

<a href="https://www.storyboard18.com/quantum-brief/spicejets-turbulent-aviation-journey-explained-24596.htm">SpiceJet’s turbulent aviation journey: Explained</a>

SpiceJet reported nearly a 20 percent year-on-year drop in net profit at Rs 158.2 crore for the first quarter of FY2025. In the corresponding quarter last year, the company posted a net profit of Rs 197.6 crore.

The revenue from operations fell 15% year-on-year to Rs 1,708 crore between April and June 2024 as against Rs 2,003 crore in the same period of the previous year.

SpiceJet shares were up 4.28 percent to Rs 65.49 on Wednesday at around 11:48 am.

DIGITAL MARKETING