businessline's State of the Economy Podcast

In this episode of the State of the Economy podcast, businessline’s Amiti Sen talks to with Mohit Singla, Chairman at Trade Promotion Council of India about the recent concerns surrounding the quality and safety of Indian spices following recalls by Hong Kong and Singapore due to ethylene oxide (ETO) contamination. 

ETO is used as a sterilising agent in spices but is considered carcinogenic if present beyond certain limits. This incident has sparked increased scrutiny from other countries like the US, Australia, and New Zealand, prompting significant discussions within the industry. 

Singla provides a comprehensive analysis of the situation, emphasising India's prominent role in the global spice market as the largest producer, consumer, and exporter. He explains the importance of maintaining high standards for quality and safety to protect India's reputation and market share. 

Singla addresses the specific concerns raised by the recalls, noting that regulatory frameworks and acceptable residue limits (MRLs) for chemicals like ETO vary significantly across countries. He highlights the ongoing efforts by the Spices Board of India to ensure compliance with international standards, including mandatory ETO testing for exports to Hong Kong and Singapore, a practice already in place for exports to the UK and EU. 

The conversation also explores the broader implications of such regulations on exporters, including increased costs and procedural complexities.  

In this episode of the State of the Economy podcast, businessline's Subramani R Mancombu talks to Ashish Dobhal, CEO of UPL SAS, about how climate-smart farming contributes to saving our climate, making agriculture resilient, and sustainable.

The discussion sheds light on the importance of education, awareness, and collaboration in promoting sustainable development and addressing climate change in agriculture through climate-smart farming.

Dobhal highlights opportunities in scaling up climate-smart farming, highlighting real-world examples and lessons learned from pioneering initiatives.

With a focus on climate change issues and food security, the podcast goes on to discuss the solutions to implement smart-climate farming that not only heals the planet but also ensures food security for all.

The discussion concludes by advocating climate-smart practices that reduce methane emissions and enhance soil moisture retention, thus holding the key to a resilient and sustainable agricultural future.

Host: Subramani Ra Mancombu; Producers: Tanujaa Shri, Amitha Rajkumar.

In this State of the Economy Podcast, businessline’s S Ronendra Singh talks to Puneet Gupta, Director (India & ASEAN Markets), Sales & Powertrain forecast, S&P Global, on the thriving Indian passenger vehicles market. 

The latest data from the Society of Indian Automobile Manufacturers (SIAM) reveals a marginal 1.3 per cent year-on-year growth in April, with total domestic passenger vehicle sales reaching 335,629 units. 

Despite a 23.4 per cent decline in the passenger car segment, the utility vehicle segment saw a remarkable 21per cent surge during the same period. 

"In India, we're in a sweet spot, being the only top 10 global market to surpass pre-pandemic sales levels," Gupta highlights. "With a projected growth in car sales from 5 to 8 million units by 2035, India's automotive sector is poised for significant expansion." He adds. 

The podcast takes a look at India's position relative to global markets, emphasising its resilience amidst geopolitical tensions and supply chain disruptions. 

Gupta underlines India's promising market status, projecting a positive trajectory for the foreseeable future. 

"Factors like rising incomes, shifting consumer preferences, and demographic trends are driving growth," Gupta notes. 

"With India's GDP per capita expected to rise, there's immense potential for growth, especially in first-time buyers and rural markets.", he adds. 

Transitioning to the evolving landscape of powertrains, they discuss India's gradual shift towards electric vehicles (EVs) and the role of Chinese manufacturers in this transition. 

"India's transition to EVs is inevitable," Gupta says. "While the global market is dominated by BEVs and hybrids, India's shift may begin with CNG and hybrid options before moving to pure BEVs." 

"The entry of Chinese EV manufacturers could accelerate India's EV ecosystem development," Gupta adds.

The conversation concludes with a look at luxury EVs and their potential in the Indian market. 

Listen in! 

(Host: S Ronendra Singh, Producer: Rowan Barnett, Siddharth Mathew Cherian)

About the State of the Economy podcast 

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.

In this State of the Economy podcast, Abhishek Law dives deep into the realm of real estate trends with special guest Gautam Saraf, Managing Director, Mumbai & New Business at Cushman & Wakefield.

The conversation starts with a focus on the emergence of diversified segments within the real estate market. Saraf elaborates on the significant growth observed in alternate sectors such as logistics, infrastructure, warehousing, and data centers. He attributes this surge to a confluence of factors, including supply chain disruptions, the rapid shift to online retail, and government initiatives like the Production Linked Incentive scheme.

Saraf goes onto outline the transformative impact of data centers, emphasising their critical role in enabling digital transformation and supporting India's burgeoning digital economy. He elucidates how factors like power availability and optic fiber connectivity drive the proliferation of data centers, with regions like Mumbai, Chennai, and Noida emerging as key hubs.

As the discussion goes on, Saraf explores sustainability considerations within the real estate sector, particularly in data center operations. He also elucidates on the adoption of green energy practices and measures to enhance energy efficiency, aligning with global trends towards carbon neutrality.

In this State of The Economy Podcast, businessline’s Subramani Ra Mancombu speaks to Colin Shah, founder and Managing Director of Kama Jewelry, on India's Gems and Jewellery exports. 

In the 2023-24 fiscal, India saw a significant downturn in its Gems and Jewellery Exports, experiencing a 15% decline in dollar terms from a substantial $37.64 billion to $32.02 billion. This decline comes amidst a backdrop of geopolitical tensions in West Asia, coupled with the ripple effects of inflation and tepid economic growth, painting a challenging scenario for the industry. 

As the sector prepares for further setbacks, it's important to understand the reasons for this decline and find ways to revive the industry. 

The podcast also looks at the role of policy initiatives in fostering a conducive environment for manufacturing and investment within the industry.  

Amidst the volatile gold and silver prices and the looming specter of geopolitical uncertainties, Shah offers nuanced projections for the trajectory of these commodities. 

(Host: Subramani Ra Mancombu, Producer: Siddharth Mathew Cherian)

About the State of the Economy podcast 

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.

In this State of Economy Podcast, businessline’s Chitra Narayanan speaks to Shiv Shivakumar, Operating Partner, Advent International and veteran ad man Ambi Parameswaran, on the reasons behind the longevity of some brands. 

From the enduring legacy of century-old brands like Lux, which is celebrating its 100th anniversary this year, to the intricacies of brand reinvention, Shiv Shivakumar underscores the importance of staying relevant in a rapidly changing market.  

“Brands need to adapt, innovate, and redefine their core propositions to resonate with evolving consumer preferences," says Shiv. 

Ambi advocates for a nuanced approach to brand longevity. He highlights the significance of brand authenticity and consumer-centricity, stressing that successful brands are built on timeless principles and genuine consumer connections. 

The podcast explores the delicate balance between tradition and innovation, shedding light on the challenges and opportunities facing legacy brands in today's digital age.  

They dissect case studies ranging from Nokia's struggles to adapt to changing technology to Lux's attempts at staying relevant amidst shifting consumer trends. 

Host: Chitra Narayanan, Producer: Siddharth Mathew Cherian.

About the State of the Economy podcast 

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.

In this episode of the State of the Economy podcast, businessline’s Kurmanath K V talks to Nishant Patel, Founder and CTO of ContentStack and Dayakar Puskoor, Founder and Managing Director of Dallas Venture Capital about the intricacies of startup investments amidst a shifting landscape. The discussion sheds light on critical aspects that determine a startup’s success in securing funds. 

The podcast not only explores challenges but also highlights opportunities within specific sectors. With a focus on mobility, EV, AI, and cybersecurity, the experts discuss promising sectors that are weathering the storm and attracting investor attention. 

The discussion goes on to talk about India’s emergence as a hotbed for SaaS companies, echoing the success story of IT giants. Puskoor emphasises the untapped potential in Indian startups, predicting a future where Indian SaaS companies dominate the global market. 

Digital Public Infrastructures (DPIs) play a major role in India’s digital economy's growth. It emerges as a cornerstone for future growth. In this State of the Economy podcast, businessline’s Anjana PV speaks to Achyuta Ghosh, Senior Director & Head- Insights, Nasscom, on the importance of DPIs based on Nasscom’s ‘India’s Digital Public Infrastructure - Accelerating India’s Digital Inclusion report. The report was drafted by Nasscom and Arthur D. Little.  

DPIs, encompassing networks and platforms facilitating citizen access to social services, are pivotal in India's digital transformation agenda. As articulated by Ghosh, DPIs represent a tripartite structure: the infrastructure layer, the solution layer, and the digital public infrastructure layer. This layered approach depicts the interoperability and citizen-centric design, creating an ecosystem conducive to innovation and problem-solving. 

However, amidst the optimism, challenges loom, notably the need for proactive policy support and regulatory clarity. The lack thereof inhibits seamless integration and data exchange across disparate systems, hindering the full realisation of DPIs' potential. Addressing these challenges necessitates concerted efforts from stakeholders, spanning government, corporations, and startups. 

Furthermore, the podcast discussed the pivotal role of DPIs in India's ambitious economic aspirations. With projections suggesting a significant boost to GDP by 2030, driven by DPIs, the imperative for inclusive growth becomes apparent. Bridging the digital divide, enhancing digital literacy, and fortifying data privacy measures emerge as imperative steps towards fostering a thriving digital society. 

The Ayushman Bharat Digital Mission emerges as a beacon of transformative potential, poised to revolutionise healthcare delivery and contribute substantially to India's growth trajectory. Its integration with DPIs underscores the multifaceted impact of these infrastructures on various sectors. 

Ghosh points out to think globally and ambitiously about DPIs. Beyond national boundaries, DPIs hold the promise of global scalability, catalysing inclusive growth on a monumental scale. In envisioning this future, collaboration, innovation, and steadfast commitment are paramount, paving the way for a digitally empowered India and beyond. 

(Host & producer: Anjana PV, Edits: Siddharth Mathew Cherian)

In this State of the Economy podcast, businessline’s Shishir Sinha speaks to Devendra Kumar Pant, Chief Economist, India Ratings and Research, about the impact of heat waves and elections on the High Frequency Indicators. 

The podcast initially focuses on GST collections surpassing 2 trillion for the first time and a dip in the Purchasing Managers' Index (PMI) for the manufacturing sector. This could be due to seasonality or because manufacturers are waiting to make investment decisions until the new government is formed after the elections. The discussion emphasises the complexity of interpreting these figures amidst a dynamic economic landscape, noting improvements in compliance and leakages in the GST system 

Elections' potential impact on economic activity is debated, with skepticism about a significant boost in demand. Heat waves and monsoon variations are predicted to affect sectors like travel and agriculture, albeit with some mitigating factors such as increased agricultural efficiency and government food distribution.  

Expectations for April's retail inflation hover around 4.75%, with a minimal decline anticipated. This is because the government is supplying food grains at subsidized rates. However, there could be some upward pressure due to vegetable inflation. Regarding interest rates, the consensus is that with consistent economic growth at 7.6%, any rate cuts by the RBI would be nominal.  

The conversation touches on revised growth forecasts, highlighting the unexpected strength of India's economy and the role of factors like tax policies and monsoon patterns. The speaker suggests awaiting further data post-elections for a clearer picture, signalling a cautious approach to economic projections amidst uncertainties.  

 (Host: Shishir Sinha, Producer: Anjana PV)

In this State of the Economy podcast, bl.portfolio editor Parvatha Vardhini C speaks to Vishal Jain, CEO, Zerodha fund house, on passive investing through index funds and ETFs.

Vishal Jain begins by discussing his background in launching India's first ETFs in 2001 and emphasized the significance of passive investing, especially in volatile market conditions.

The conversation then looks at the role of passive investing in the current market scenario, particularly focusing on small and mid-cap segments. 

The discussion covers the potential benefits of passive investing in small and mid-cap spaces. The podcast also touches upon the recent surge in passive launches in the market and the need for a balanced portfolio approach, incorporating both active and passive strategies. 

The podcast looks at international diversification, addressing regulatory restrictions affecting overseas ETF investments and recommending US listed ETFs based on broad-based indices like S&P 500 or NASDAQ 100 through the LRS route for investors seeking exposure to international markets. 

Vishal Jain discusses Zerodha's approach to passive investing, highlighting why their choice for first fund was from the large & midcap category. The discussion also covers debt passive options, including whether target maturity funds are still attractive, and the potential for future growth in passives in the debt space.

The conversation ends with a discussion on the challenges and advantages of ETF investing, including liquidity issues and regulatory changes implemented by SEBI to improve transparency and market stability. Vishal Jain talks about how a diversified portfolio using passive products can be built to achieve long-term financial goals effectively. 

Listen in! 

Host: Parvatha Vardhini C, Producers: Anjana PV, Siddharth Mathew Cherian

About the State of the Economy podcast 

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.