New Delhi, Nov. 18 -- With the beginning of the sell-side conference season, a suited-up Bertie found himself shunting between hotels for corporate meetings. At one of the events, representatives from one of India's oldest consumer staples companies were describing their product innovations and extensions. They had thoughtfully carried a large hamper with samples of their wares which they were showcasing as they talked about them.

Being a visual learner, Bertie was revelling in this experience when the company representatives started talking about bathing soaps. "Good old soap. Nothing new there, right?" Bertie asked. The representatives exchanged a serious look as if to say, "Should we tell him?" Bertie sensed this and waited.

"Nothing...