Best of the week | Shrinkflation and disappearing bakeries of Bengaluru

Bengaluru, my home for nearly a decade, is a vibrant melting pot of cultures, buzzing with energy and flavor. What makes this city even more special is its quirky and diverse food scene. From Udupi-style darshinis to Ambur biryani joints, Bengaluru is packed with places where people don’t just grab an affordable bite—they gather, connect, and soak in the local vibes. These eateries are the heart and soul of the city’s community-driven lifestyle.

Among these gems, Iyengar bakeries hold a special place in Bengaluru’s cultural and culinary heritage. Last week, I visited one of the city’s most iconic, and probably oldest, bakeries: VB Bakery in Basavanagudi. With over 70 years of history, it’s more than just a place to eat—it’s a slice of Bengaluru’s past. The bakery is especially famous for its beloved ‘khara bun Congress’, a snack as delicious as its name is curious. The story goes that this savory treat, made from split peanuts, got its name during the 1960s, after the Congress party split.

But like the city itself, even these old favorites aren’t immune to change. What struck me most during my visit was the unmistakable ‘shrinkflation’ of VB Bakery’s famous ‘nutty toffee’. These candy sticks, made with cashews and almonds, have long been a favorite for many who grew up in Bengaluru, evoking childhood memories for its loyal patrons. Now, though, they’re about three-quarters of their original size! And to add to the heartbreak, the old-school paper packaging has been swapped out for plastic.

As Bengaluru speeds ahead with the rise of quick-commerce, places like these bakeries and the iconic ‘hot chips’ shops are slowly disappearing. Once the symbols of the city’s laid-back charm, they’re now fading in the face of a faster, more hurried way of living.

Thankfully, here at Mint, we still believe in taking our time to bring you well-researched, thoughtful stories.

Here are some of the best stories from this week:

🎯 The Competition Commission of India is nearing the end of its four-year antitrust investigation into Amazon and Flipkart. The online marketplaces were asked to hand over their financials, which could determine hefty fines based on global sales if found guilty of anti-competitive practices like favoring certain sellers and pushing aggressive discounts. This move came as the CCI looked to ensure fair play in India’s rapidly growing digital market. With the law now requiring a thorough hearing before a final decision, all parties involved will get a chance to present their case, making sure the process is transparent and just. Gireesh Chandra Prasad reported on the antitrust body’s push for a level playing field where small businesses can compete fairly against the big e-commerce platforms.

📢 In India, the push for inclusivity in advertising is gaining momentum, challenging the traditional beauty standards of fair skin and conventional looks. Veteran adman Sandeep Goyal argues that advertising should reflect society’s aspirations and connect swiftly with consumers, suggesting that the primary goal of ads is to sell, not to spearhead social change. However, Manisha Kapoor of the Advertising Standards Council of India notes that younger, progressive consumers demand representation and reject ads that cling to outdated stereotypes. This tension highlights a broader debate: should ads lead societal change or merely reflect it? As brands navigate this landscape, the challenge is to balance genuine inclusivity with commercial success, writes Gaurav Laghate.

👨‍🏭 📱 Hundreds of Samsung India workers, dressed in their factory uniforms, have been striking near the company’s Sriperumbudur facility, protesting low wages and unfair labor practices. The strike, now in its second week, has halted production, impacting nearly 30% of Samsung’s annual revenue from this plant. Samsung, which is dealing with other significant challenges, including declining smartphone sales and competition from both Chinese and luxury brands, has responded by hiring contractual workers to mitigate production losses. This labor dispute comes at a critical time as the festive season approaches, which typically sees a surge in consumer electronics sales. Meanwhile, the broader company struggles include a global restructuring that might lead to job cuts in India, compounding the unrest among employees. N. Madhavan and Sumant Banerji delve deeper into the problems the Korean tech giant faces.

🛂 🌎 Mint Money’s Neil Borate wrote about an intriguing travel hack for Indian travelers: leveraging a Schengen visa to access multiple countries. With a Schengen visa, not only can one roam freely across 26 European countries, but it also opens doors to several non-Schengen countries like Bosnia, Cyprus, South Korea, and even Saudi Arabia under specific conditions. This comes in handy especially when US visas have long wait times and UK visas come with hefty fees. In April, the Schengen rules got even sweeter, allowing frequent travelers to secure multi-entry visas lasting up to five years, making it a strong competitor against other major visas.

🇱🇰 Anura Kumara Dissanayake’s (AKD) ascent to the Sri Lankan presidency marks a major political shift, moving away from the established powerhouses to its National People’s Power (NPP), a socialist alliance championing anti-corruption and economic reform. Rising from a modest 3.2% vote in 2019 to the presidency, AKD’s campaign resonated with the working class amid economic turmoil, advocating for tax cuts, increased welfare spending, and renegotiation of IMF loans. His victory was buoyed by the large-scale protests in 2022 that demanded significant political and economic changes. Shweta Singh, associate professor at the Department of International Relations at South Asia University, explains how AKD’s presidency could reshape Sri Lanka’s relations with its neighbors, particularly India, given India’s role as a first responder during Sri Lanka’s economic crisis.

🏃‍♂️🚪 Accel, an early-stage venture capital firm, plans to sell partial stakes in several of its high-profile portfolio companies, including Swiggy, Urban Company, BlackBuck, and BlueStone. These planned sales are expected to occur through a mix of pre-IPO secondary sales and offer-for-sale transactions during upcoming IPOs. This move is especially timely as Accel pursues its fundraising objectives, looking to capitalize on secondary market opportunities to exit long-held investments. Ranjani Raghavan and Priyamvada C. report on the strategy, which not only reflects Accel’s proactive approach to portfolio management but also underscores a broader VC industry trend towards structured exit processes amid robust demand for pre-IPO equity.

🚘 🤝 Mahindra & Mahindra and Volkswagen Group are in advanced talks to intensify their partnership. The two companies aim to leverage shared investments in future technologies rather than engage in cash transactions. Sources told Alisha Sachdev that Mahindra might make significant investments in platforms and technologies to acquire a sizeable stake in Volkswagen’s India operations, with a formal agreement potentially being finalized by early 2024. The focus of this collaboration is on utilizing Volkswagen’s underutilized Pune plant, which has a substantial expansion capacity.

🔋 The Indian government is steering state-run energy companies toward public listings of their renewable segments, aiming to enhance asset value without privatization. For example, NTPC Green Energy Ltd is positioned for a ₹10,000 crore IPO in November, while SJVN Ltd and Solar Energy Corp. of India are also planning public offers. This move is part of India’s broader strategy to monetize assets and reinvest in emerging green technologies like solar, hydropower, and battery storage. Rituraj Baruah and Gulveen Aulakh report on how these companies face the challenge of attracting investors and scaling operations to meet ambitious renewable energy targets.

🎥 The Indian film industry is grappling with systemic issues of sexual harassment, highlighted by the Hema Committee report’s revelations in Kerala and similar accounts across various regional cinemas. These reports have catalyzed a broader reckoning, reminiscent of the MeToo movement, urging other states like West Bengal and Karnataka to consider similar investigative mechanisms. Despite the formation of committees and promises of scrutiny, the Telangana state’s inquiry into sexual harassment in Telugu cinema remains unpublished, showcasing the political complexity and the sluggish pace of institutional accountability. The persistent issues are compounded by the industry’s unstructured nature, which complicates the implementation of protective measures like Internal Complaints Committees, often reducing them to token gestures. Lata Jha takes a deep dive into this highly sensitive issue plaguing the Indian cinema industry.

🏥 India’s National Medical Commission, which oversees medical education, is facing some internal challenges. The commission’s four autonomous boards are reportedly working at odds with one another, leading to the cancellation of several public notices due to poor coordination. This issue has become serious enough that the NMC has sought help from the Union health ministry to resolve the internal conflicts, sources told Mint’s Priyanka Sharma. The problem surfaced when conflicting decisions were made by the boards while reviewing applications from medical colleges. For instance, while one board penalized a college, another approved an increase in that institution’s number of seats. This inconsistency is raising concerns, especially following recent controversies like the leak of NEET exam papers.

That’s all for this week. I hope you have a pleasant weekend!

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