In this exclusive conversation, former Tamil Nadu Minister Dr. Palanivel Thiaga Rajan shares his views on governance, administrative challenges, structural reform, India’s economic outlook, and emerging global risks.PTR discusses the challenges facing the new government, including administrative experience, policy consistency, and the need for deeper structural reforms. He also reflects on the Parandur airport debate and explains why data-driven systems and institutional reforms are essential for effective governance.The conversation then moves beyond Tamil Nadu to the wider global economy. PTR discusses rising liquidity, government debt, the rapid growth of AI investments, and the possibility of an AI-driven investment bubble creating financial instability. He also explains how India could be affected by global economic shocks and why India’s historical integration with global financial markets has provided a degree of protection during previous crises.PTR also talks about his own transition, his efforts to refresh his understanding of global economic developments, and his interest in using emerging technologies to address problems in governance.Topics covered:• Governance and administrative challenges• Policy consistency and decision-making• Parandur airport controversy• Structural and institutional reform• Data-driven governance• AI investments and the potential AI bubble• Global liquidity and financial instability• Rising government debt• India and global economic risks• Technology and the future of governance