# Can Adani do with apples what Mahindra did with grapes?

Page: https://stenobird.com/podcast/daybreak-5886514/can-adani-do-with-apples-what-mahindra-did-with-grapes
Text version: https://stenobird.com/podcast/daybreak-5886514/can-adani-do-with-apples-what-mahindra-did-with-grapes.md
Podcast: [Daybreak](https://stenobird.com/podcast/daybreak-5886514)
Published: 2026-06-12T01:49:47+00:00
Episode link: https://share.transistor.fm/s/cd31c6c7
Audio file: https://media.transistor.fm/cd31c6c7/239861c8.mp3
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JSON: https://stenobird.com/v1/public/podcasts/daybreak-5886514/episodes/can-adani-do-with-apples-what-mahindra-did-with-grapes
Duration seconds: 836

## Resource

Adani started buying apples in Himachal Pradesh two decades ago. Not because it wanted to be in the fruit business — but because it wanted to own the cold chain that nobody else was building. Now the India-New Zealand free trade agreement is about to test Indian apple growers like never before. New Zealand yields 50 to 70 tonnes per hectare. Himachal Pradesh averages 7 to 8. Adani just expanded into cherries, plums, and peaches — fruits even more perishable than apples. The bet is the same as it always was: whoever controls refrigeration, controls the market. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

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## Transcript

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