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In today's episode of The Daily Brief, we cover 2 major stories shaping the Indian economy and global markets: 1. Inside Pine Labs’ Big IPO Bet Pine Labs has filed for its IPO, revealing its journey from a POS terminal provider to a full-stack merchant payment platform. While the company handles massive transaction volumes and leads in gift card issuance, it still struggles with profitability. The IPO sheds light on its strengths, growth potential, and risks in a competitive fintech landscape. 2. India’s Industrial Policy: Promise vs Reality Industrial policy is making a global comeback, with countries using subsidies and incentives to strengthen domestic manufacturing. India too has embraced this, but its results remain mixed due to weak fundamentals and flawed execution. This piece explores when industrial policies succeed — and when they don’t. Timestamps: 00:00 Thanksgiving! 02:50 Intro 03:21 Behind the Pine Labs IPO 12:15 The New Age of Industrial Policy 24:53 Tidbits Get smarter every day with our daily newsletter. Subscribe here: https://thedailybrief.zerodha.com/ Checkout The Chatter here: https://thechatterbyzerodha.substack.... Check out our latest newsletter "Aftermarket Report" here: https://aftermarketreport.substack.com/ Every day, each team member shares something they've learned, not limited to finance. It's our way of trying to be a little less dumb every day. Check it out here: https://onethingwelearned.today/ Listen to this episode on your preferred podcast platform: Spotify: https://open.spotify.com/show/2SJiLdv... Apple Podcasts: https://podcasts.apple.com/in/podcast... Watch this episode in Kannada on @marketsbyzerodhakannada : • Pine Labs files for IPO — Is the Hype Real... Disclaimer: Some image(s) may have been created using Al, no copyright infringement is intended. Note: This content is for informational purposes only. None of the stocks, brands or products mentioned are recommendations or endorsements.