Subtext by Zerodha

Nishit and Ankush from Phillip Capital have spent years working with NRI and global investors navigating India's financial ecosystem — and they are two of the clearest voices explaining why Gift City is changing everything. Gift City sits in a 34-kilometre stretch between Ahmedabad and Gandhinagar — technically in India, but operating as an offshore jurisdiction. NRI onboarding, which used to take...

Deepak Shenoy of Capital Mind joins us to explain what has been happening with the rupee over the past few weeks. Some of it is straightforward — India imports a lot of oil, oil is now significantly more expensive, and that means we need a lot more dollars than before. But there has been a more technical layer to the story involving something called the NDF market, which most people haven't heard...

Rory Johnston runs Commodity Context and has spent years tracking the oil market — and he is someone who, by his own admission, is normally the calm one in the room. The fact that he is genuinely alarmed right now tells you something. Since February 28th, the Strait of Hormuz — a 34-kilometre stretch of water that carries roughly 20% of the world's oil supply — has been closed. Asian governments a...

Most commentary on China operates at a surface level. Xi Jinping is authoritarian, the economy is state-directed, and the Communist Party controls everything. That's all true, but it doesn't actually help you understand why specific things happen the way they do. Manoj Kewalramani is one of the few Indian analysts who can go deeper than that. He's a China Studies research fellow at the Takshashila...