TAKE A STROLL through New Bond Street in London, with sprawling stores of the finest global luxury brands lining both sides of the street — from Gucci to Burberry, Cartier, Dior and Hermès — and you begin to think how, in earlier times, these were brands Indians would have to travel overseas to buy. Cut to 2026, and nearly every major luxury brand is available in India, with all of them vying for a piece of the booming Indian luxury market. And why not? With the number of Indian billionaires and ultra-high-net-worth Indians increasing every year, the spending power of upwardly mobile Indians on the rise, and the emergence of luxury malls across major metros, India has become the next big thing for the global luxury industry.

Deloitte’s Global Powers of Luxury 2026 report underscores the importance of India as a major luxury destination. “India is not just an emerging market; it’s a rapidly transforming luxury landscape. A confluence of robust macroeconomic tailwinds and a young, digitally enabled, and aspirational consumer base, the country presents an opportunity for global luxury brands,” the report says. India is the fastest-growing major economy, and consumer purchasing power is growing rapidly. The Deloitte report points to the fact that the population of affluent Indians is expected to grow from 60 million in 2023 to 100 million by 2027, and this expanding base forms the core market for luxury. Not surprising, then, that global leaders of the luxury industry speak effusively about the Indian market.

Our Luxury Special issue, helmed by Vinod Nair, Fortune India’s Luxury Editor, comes to you amidst this Indian luxury boom, bringing to you some of the biggest global names and their stories. Our cover story talks about how Fendi, one of the world’s best-known and storied luxury brands, is evolving while remaining true to the brand’s roots and value proposition. Silvia Venturini Fendi herself tells us how much she loves the Indian sari because it reflects the ability to transform itself while remaining true to its core. About India, Fendi tells us: “India’s ability to combine heritage and creativity gives it a very distinctive position in the world of luxury.” And then there is Laudomia Pucci telling us the story of the colourful and fantastic world of Pucci’s designs. Fern Mallis, the founder of the New York Fashion Week, writes in an exclusive column about what Indian fashion must do next — convert recognition, craftsmanship and cultural cachet into lasting commercial success. “Perhaps the most fascinating development is the increasingly visible Indian influence at the Met Gala each season. It signals that Indian fashion is no longer looking outward for validation. It is beginning to participate in the global fashion conversation on its own terms,” Mallis writes. This is the moment for Indian luxury and fashion. And the world is watching.

Meanwhile, away from all this, Bombay House — the headquarters of the Tata Group — is witnessing a massive corporate war, the likes India has seldom witnessed. Tata Trusts chairman Noel Tata and Tata Sons chairman Natarajan Chandrasekaran are locked in a grim battle for control of the $185-billion group, with the Trusts itself a divided house, and a potential listing of Tata Sons — which Noel Tata feels would be detrimental to the philanthropic mandate of the Trusts — hanging over the holding company like Damocles’ sword. Venu Srinivasan, Noel Tata’s colleague at the Trusts, is also ranged against him, playing a key role in this messy corporate slugfest. As the battle looks headed to the courts, Nevin John examines what’s at stake.