How India's Economy Works

In this episode, author and journalist Puja Mehra speaks to economist Dr. Rajiv Kumar about his new book “Everything All At Once: India and the Six Simultaneous Global Transitions” co-authored with Ishan Joshi. The book argues that at a time the world is in a geoeconomic and technological flux, India’s development goals cannot be met through “business as usual.” Drawing on decades of experience, D...

In this episode, author and journalist Puja Mehra speaks to trade policy expert Prof. Abhijit Das about the India-UK Free Trade Agreement (FTA) that was signed on 24th July 2025 after years of negotiation. Hailed as a major breakthrough, the agreement promises tariff-free access for Indian exports like textiles, leather, and marine products, along with visa commitments for service professionals. B...

In this episode, author and journalist Puja Mehra speaks to trade policy expert Prof. Abhijit Das about the status of India’s trade negotiations with the United States under the Trump administration. While President Trump had promised 90 trade deals in 90 days, only two have materialised—one with the UK and another with Vietnam—and even those remain light on details. Meanwhile, Indian negotiators...

In this episode, author and journalist Puja Mehra speaks to senior aviation journalist Ashwini Phadnis and former Senior Deputy Editor at Business Line (aka The Hindu Business Line) about the long and chequered history of India’s civil aviation sector—from the post-Independence days of Air India under JRD Tata to the airline’s recent crash under Tata Group ownership. They trace how government poli...

In this episode, author and journalist Puja Mehra speaks to Amit Basole, Professor of Economics and Head, Centre for Sustainable Employment and the lead author of the State of Working India report. They talk about why India’s unemployment challenge remains unresolved, why fixing the employment crisis goes beyond grand economic reforms, touching on issues like local governance, municipal underfundi...

In this episode, author and journalist Puja Mehra speaks to trade policy expert Abhijit Das about what’s at stake for India in its free trade agreement (FTA) with developed economies like the UK. Why do countries push for non-trade clauses such as labour, environment, and gender standards in trade deals? How do intellectual property (IPR) obligations affect India’s ability to innovate? Drawing on...

In this episode, journalist Puja Mehra speaks to economist and Director of the Delhi School of Economics, Ram Singh about why India's income tax base remains so narrow. Why do the richest Indians pay a smaller share of their income in taxes than the middle class? Drawing on his research, Ram Singh explains how India's tax system unintentionally favours the wealthy, and why income reporting becomes...

In this episode, journalist Puja Mehra speaks to economist and competition law expert Payal Malik about India’s push to become an AI powerhouse. While India has advantages in data and digital talent, Malik argues that inadequate computing infrastructure, limited R&D spending, and over-reliance on big tech threaten to stall its progress. They discuss how initiatives like AIRAWAT aim to build in...

In this episode, author and journalist Puja Mehra speaks to trade policy expert Abhijit Das. President Donald Trump's Liberation Day, as Trump calls it, is a serious blow to the rules-based global trade order that the US had led as a champion of free trade for 80 years. This trading system was biassed against developing countries like India and in favour of developed countries, but the rise of...

In this episode, author and journalist Puja Mehra speaks to Journalist and Consulting Editor at Business Standard, Subhomoy Bhattacharjee. They discuss the deficiencies within the power sector, why it is incurring losses, the parallels between Power Sector Policy and GST policy, how the power sector disincentivises business and much more. Tune in for insights into the absurdities into one of the m...

In this episode, author and journalist Puja Mehra speaks to trade policy expert Abhijit Das. They discuss the recent spat of Trump Tariffs, the implications it has for the world and how it fits in the context of the overall US trade strategy. Tune in for insights into the current state of Trump's trade war. For more of our coverage check out ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecore.in⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to...

In this episode, author and journalist Puja Mehra speaks to Raghavan Srinivasan, journalist and former editor for The Hindu Business Line. They discuss the factors and history that gave rise to China’s domination in Global car manufacturing. They also talk about the role of the US, and the opportunities that India might have in this sector.  Tune in for a discussion that clarifies and simplifies t...

In this episode, author and journalist Puja Mehra speaks to economist Rajeswari Sengupta to scrutinize the government's fiscal strategy in the latest budget. Sengupta offers candid insights on how the shift from transparent fiscal deficit targets to a more opaque debt-to-GDP approach—coupled with expenditure cuts and generous tax reliefs—is unlikely to spur growth. Tune in for a discussion tha...

In this episode, author and journalist Puja Mehra speaks to economist Rathin Roy about India's exchange rate policy and its intricate connections with foreign reserves, FDI/FII trends, and the role of the Reserve Bank of India (RBI). Economist Dr. Rathin Roy shares his candid insights on how India's foreign exchange reserves are shaped, the implications of private sector borrowing abroad,...

In this conversation, author and journalist Puja Mehra speaks to Suranjali Tandon, Associate Professor at NIPFP (National Institute of Public Finance and Policy). They talk about India’s tax system, the tax-to-GDP ratio, disparities between salaried and business taxpayers, and the implications of social and economic constraints on tax structures. They also explore the various directions the budget...

In this episode, journalist Puja Mehra is joined by Bazil Shaikh, former RBI official and author of the book The Conjurors Trick An Interpretive History Of Paper Money In India. They discuss the history and evolution of the rupee, exploring how money has served as a medium of communication, a tool for sovereignty, and how it is a reflection of societal values. They also talk about the global reach...

In this episode, journalist Puja Mehra is joined by economist Dr. Rajat Kathuria to explore the evolution of India’s telecom sector. From the early days of competition and spectrum allocation to the challenges faced by both new and legacy operators, Dr. Kathuria discusses the regulatory hurdles and the shift in policies that shaped the industry. They also examine how the telecom sector has driven...

In this episode, journalist Puja Mehra is joined by economist Prachi Mishra to uncover the factors behind Bihar’s economic challenges. From historical policies like the Freight Equalisation Scheme to the migration patterns driven by low wages, Prachi explains the root causes of Bihar’s struggles and its divergence from other Indian states. They also discuss the aspirations of Bihar’s youth, the st...

In this conversation, journalist Puja Mehra speaks to Neelkanth Mishra, Chief Economist at Axis Bank. They explore the global economic ripple effects of Donald Trump’s fiscal and trade policies and what they mean for India, inflationary pressures, shifts in global capital flows, the “China shock” impacting trade and manufacturing. They also discuss Elon Musk’s geopolitical role, US-India trade dyn...

In this conversation, journalist Puja Mehra speaks to former secretary with the Ministry of Agriculture Siraj Hussain about the rapid growth of India's poultry sector and how it has outpaced other agricultural sectors like fisheries and livestock. They discuss the rise of the integrator model in poultry farming, the challenges and benefits of contract farming, the poultry sector versus other crops...

In this episode, Raghavan Srinivasan, journalist and former editor for The Hindu Business Line, talks about the story of Coca-Cola's entry into the Indian market. He highlights how global brands like Coca-Cola and Pepsi, after initially trying to dominate the Indian market, had to adapt to local preferences, even reintroducing beloved brands like Thums Up and Limca. The conversation underscores ho...

In this episode, Puja Mehra talks to economist Ila Patnaik about the complex challenges India faces as it strives to compete with China's export dominance. They talk about the uncompetitive infrastructure, higher labor and energy costs, and irrational tariff structures that hinder India’s manufacturing sector. Patnaik discusses the impact of China's post-COVID economic slowdown, its focus on expor...

In this episode, Puja Mehra talks to economist Payal Malik about the impact of big tech companies like Google and Meta on market competition in India and the recent antitrust ruling against google. They explore how these giants dominate industries through data extraction, stifling innovation and harming suppliers, the need for new regulations to address anti-competitive behavior, the role of digit...

In this conversation, Puja Mehra talks to Dr. Shruti Rajagopalan about the historical context of the 1991 Economic Liberalisation of India. She illustrates how the economy in india worked through the manufacture of a bicycle and goes on to explain the impact of those economic reforms, the careful planning that went into it, the people who brought it to fruition, the political turmoil at the time a...

In this conversation, Puja Mehra talks to Vijay Singh Chauhan about the complexities of government budgeting and fiscal management in India. They discuss discrepancies in GDP numbers, government borrowing, the fiscal deficit, the importance of transparency, statistical skills, and public input in the budget-making process, and much more. For more of our coverage check out thecore.in Subscribe to o...