India's supplements wild west; Payments firms' SaaS play
Happy Monday! As over-the-counter health supplements are increasingly available online, concerns arise about their efficacy and regulation. This and more in the latest edition of ETtech's Morning Dispatch.
Also in the letter:
■ Tepid IT job demand ■ Top Tata Electronics' hire■ Info Edge readies VC fund
Pills, promotions and a dose of doubt: Influencers, VC money fuel India's booming supplements market
From collagen powders and gut health liquids to magnesium tablets and hormone-balancing pills, wellness supplements have become lifestyle staples in post-pandemic India. However, as demand surges, so do questions around efficacy and oversight.
Growing concern: Most supplements are sold directly to consumers via ecommerce websites and quick-commerce apps.
They're available over the counter – no prescription, no pharmacist, and often, no evidence that they work.
Multiple experts and industry executives told us this supplement boom is driven by post-Covid-19 health consciousness, amplified by influencer marketing, and backed by venture capital (VC).
Tell me more: The sector attracted over $500 million in funding between 2020 and May 2025, according to data firm Venture Intelligence.
Brands like Plix, Kapiva, Fast&Up, and The Good Bug are leaning into influencer-led marketing, with some partnering with doctors and wellness experts to add a veneer of credibility.
Industry analysts say brands pay anywhere between 15-30% of their budgets on influencer marketing.
What about regulation? In India, most supplements are regulated by the Food Safety and Standards Authority of India, not the drug regulator.
This means weaker scrutiny and lighter penalties.
Online pay aggregators focus on anti-fraud tech to up revenues
Payment companies are transforming their in-house fraud detection tools into software-as-a-service (SaaS) products for banks and fintechs, unlocking a new source of recurring revenue.
Tell me more: Payment aggregators (PAs) like PayU, Razorpay, and PhonePe have developed fraud detection systems to safeguard their platforms. Now, they are pitching these tools to lenders, promising improved transaction rates and enhanced customer security.
Quote, unquote: 'While we already work with large banks to address their payment fraud needs, many mid- and small-sized financial institutions need strong technology solutions to fight payment fraud. We are also targeting this segment, and the opportunity is significant,' said Anirban Mukherjee, chief executive officer, PayU.
Zoom out: As competition intensifies and regulatory caps squeeze margins, payment firms are eyeing SaaS as a more stable, margin-friendly revenue stream beyond their core payment business.
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IT's Q1 headcount growth likely to stay flat despite improved macro
Headcount growth in the IT sector is expected to remain flat, experts say, even as a pause on US President Donald Trump's 'reciprocal' tariffs lifts some clouds of uncertainty.
Driving the news: Hiring demand for new IT joinees continues to hover around 55,000, well below the brief peak of 80,000 seen earlier in 2025, according to staffing firm Xpheno.
There are currently 60,000 open roles in the IT services segment.
Job scenario: Roughly 88% of active demand is concentrated in the technology and engineering roles. The remaining 12% spans consulting, project management, business development, analysts, and other support functions, Xpheno added.
AI-led hiring: With firms prioritising quality over volume, demand is shifting towards 'future-ready' specialised roles in artificial intelligence (AI), machine learning, cloud, and cybersecurity. These segments are reported to grow by 30-75%, depending on the area, according to another staffing firm, Teamlease.
Quote, unquote: 'Although there is long-term optimism, companies remain cautious in the short term, reflecting a careful approach to hiring amid ongoing global uncertainties,' said Neeti Sharma, CEO, Teamlease Digital.
Other Top Stories By Our Reporters
Tatas rope in Intel veteran Tim McIntosh to steer Assam chip assembly plant: Tata Electronics has appointed Tim McIntosh as vice president and head of operations and manufacturing for Tata Semiconductor Assembly and Test (TSAT), marking the latest leadership hire of an Intel veteran at the firm.
Spacetech gets an opening as India seeks more eyes in the sky: While India currently has around 10–11 defence satellites operated by ISRO, "revisit times are long" and there's an urgent need for more satellites, Lt Gen AK Bhatt (Retd), DG of the Indian Space Association (ISpA), told us.
Info Edge's shareholders clear Rs 1,000 crore VC fund play: The Noida-based firm will invest up to Rs 1,000 crore in Info Edge Ventures Fund III, paving the way for increased startup investments.
Byju's app taken down from Google Play Store: The Byju's app has been removed from the Google Play Store due to payment disruptions for its services, while other apps remain available on the platform.
Apple's India bet reflects global confidence: Rajeev Chandrasekhar | Apple's ongoing expansion of its iPhone manufacturing operations in India indicates increasing global confidence in the country's electronics manufacturing ecosystem, said former IT minister Rajeev Chandrasekhar.
Global Pick We Are Reading
■ India's richest man can't crack e-commerce, even with Shein (Rest Of World)
■ Gemini in Chrome feels like a small step toward Google's agentic era (The Verge)
■ Builder.ai founder plots potential deal to buy failed company (FT)
Updated On May 26, 2025, 07:11 AM IST
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