Fortune India is back with its annual ‘Luxury’ issue, our 5th! Whisky is serious business for Scotland, contributing 7.7 billion to the British economy. And as any novice tippler would know, there are various kinds of whiskies available. Trouble is, it’s not the entry-level Scotch alone that’s in trouble. The most expensive and finest of Scotland’s whiskies, the ones that are part of the luxury whisky industry, are losing their pre-eminence. And that’s the topic of our editor-at-large, Hindol Sengupta’s cover story, on Page 70. Elsewhere in the issue, Sengupta writes on John Lobb and Christian Louboutin, two of the luxury world’s legendary shoemakers. Louboutin tells him about the origins of the famous red sole, and about the company’s move finally into products other than women’s shoes. He also talks about the many legal tussles he has had with everyone from Kering to Zara to YSL to prevent them from using the red sole. He has won most. From the flash and dazzle of Louboutin to the understated, almost zen world of John Lobb. Sengupta visited the iconic British shoemaker yes, British, although it’s owned by France’s Hermès and came back saying John Lobb’s marketing was like its shoes: minimalist but effective. As he does every year, photo editor Bandeep Singh showcases five crafts that he says could die out if they are not supported. Elsewhere in the issue, assistant editor Sanghamitra Mandal, who is passionate about startups, looks at the proliferation of foreign accelerators chasing tech startups in India. This despite repeated warnings of a tech bubble in the making. That’s on page 128. Don’t also miss our story on Ranbaxy page 58, a year after it was acquired by Dilip Shanghvi’s Sun Pharma.