Piecing together disparate data for economic and market insights
In this video, Bidisha and I discuss India’s economic outlook, focusing on the upcoming Union Budget 2026: global economic turbulence, India’s growth drivers, and critical policy priorities. Main points We discuss the significant risk posed by disruptions to global capital flows, drawing parallels to the period between 1989 and 1993. Major global players like the … Read more
How has fiscal consolidation helped bring down the cost of capital in India? What are its implications for macroeconomic stability, investment cycles, and capital markets? In NISM’s Masterclass Episode 26, Sashi Krishnan, Director, NISM, and I discuss fiscal discipline, government borrowing, interest rates, and their transmission into the real economy.
It’s a freewheeling chat. A lightly edited Gemini summary of the video: We discuss India’s journey and ambitions in the semiconductor industry, the India Semiconductor Mission (ISM), its objectives, and the challenges faced in building a semiconductor ecosystem.ISM started in December 2021 with a $10 billion budget to create a robust semiconductor ecosystem in India. … Read more
Mukesh and I discuss why we are at the start of a true golden age of Indian entrepreneurship:
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In this chat we put the recent changes to GST into context, discussing the history of indirect taxes in India, some of the challenges in implementing GST, and the impact of this reset on inflation, demand, and growth. We discuss how rate rationalization can boost consumption without straining fiscal math, how input tax credit works … Read more
We discuss India’s opportunities across semiconductors, AI, digital public infrastructure, and startup ecosystems. From India’s $18B bet on chip manufacturing to the role of Aadhaar, UPI, GST, and ONDC in transforming credit and payments, to India’s chances of leapfrogging in innovation and diffusion while building global partnerships. We chat about India’s competitiveness in the AI … Read more
We discuss how the world is changing, the thawing of India China relationship, US Tariff impact on India, the US India relationship, possibility of de-dollarisation, the rise of Digital Currency, how the US policymakers are much more agile than India’s governance structure allows, India’s growth slowdown and how it is reversing, FII selling in India.
We decode the macroeconomic outlook for India, addressing: How India is navigating economic headwinds, The impact of tariff trends and trade policies, Key drivers of India’s growth story and policy reforms, and what lies ahead for investors, businesses, and policymakers.