If you’ve ever used a Classmate notebook or a Doms pencil, you’ve already been an unwitting part of one of India’s quietest rivalries in action. For years, ITC ruled the stationery aisle — backed by its giant paper mills and powerful brands. But Gujarat-based Doms is catching up fast. Since its 2023 IPO, Doms’ sales have surged, its stock has tripled, and it’s closing in on ITC’s notebook empire. With everything made in-house and a perfectionist at the helm, Doms is turning pencils into profit, and giving one of India’s biggest conglomerates a run for its money. Tune in. 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.
