Palmonas' offline push; IndiaAI's GPU crunch

Demi-fine jewellery brand Palmonas is doubling down on its offline retail strategy as the branded jewellery market becomes increasingly competitive, according to cofounder Pallavi Mohadikar. The company currently operates 105 stores and aims to expand to around 160 by the end of the fiscal year, leveraging high repeat purchase rates and higher average order values to stay ahead of both established players and new entrants.

Mohadikar, named a joint winner of the 'Woman Ahead' category at the ET Startup Awards 2026, explained that offline stores offer lower marketing costs and better customer retention compared to online sales. IndiaAI's mission may need to adjust as critical compute components, particularly GPUs, are experiencing severe supply constraints and higher costs, impacting procurement plans under the Rs 10,372-crore initiative.

The government is issuing fresh bids and moving to own some compute directly, indicating a shift in strategy. Meanwhile, India's electric two-wheeler market is expanding rapidly, with registrations up 62% year-on-year to 15.61 lakh units in the first nine months of 2026, driven mainly by established automakers like TVS Motor and Bajaj Auto.