The Core Report

In this episode of The Core Report Weekend Edition, Financial Journalist Govindraj Ethiraj in conversation with Sajjid Chinoy, Chief India Economist & Head of Asia Economics, JPMorgan, unpacks the quiet but powerful shift inside India’s economy that is surprising global investors and reshaping the country’s growth path. India’s hidden services boom is expanding even as the world slows and this conversation reveals why it is becoming one of the strongest drivers of India’s next growth wave.

The discussion dives into the rise of high value service exports, the global trade reset, the China export surge, the risks building into 2026, and the pressures created by a slower world economy. The insights are grounded in data and offer a clear view of how India’s services engine is cushioning the economy at a time when manufacturing and global demand face new challenges.

This episode goes deeper into how technology, AI and global capability workstreams are changing the quality of Indian jobs and raising productivity across sectors. It explains the link between wages, education, digital skills and the emerging opportunities that will shape India’s economic future. The conversation also addresses the big question of whether AI becomes a threat to India’s workforce or a multiplier for growth.

If you follow India’s business trends, financial markets, technological shifts or manufacturing opportunities, this discussion offers clarity and a richer understanding of where India’s economy is heading. It is designed for anyone seeking sharp insight, real data and a deeper view of the forces driving India’s next decade.

Hit like, share this with someone who tracks the India stock market, and subscribe to The Core Report podcast for more deep conversations on markets, business, technology and the Indian economy.

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On Episode 731 of The Core Report, financial journalist Govindraj Ethiraj talks to Anil Rego, Co-founder and Fund Manager at Right Horizons PMS as well as Pawan Bachwal, Vice President, Head of Financial Services at Ericsson.

SHOW NOTES

(00:00) Stories of the Day

(00:50) A 14-month wait is coming to an end as markets inch close to all time highs

(03:22) Wall Street is back on buy AI stocks mode after Nvidia results

(04:31) RBI governor says demand for USD is responsible for a weak rupee 

(16:34) How Ericsson is powering India’s fintech play at scale

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On Episode 730 of The Core Report, financial journalist Govindraj Ethiraj talks to Pawan Kumar, President at the Seafood Exporters Association of India as well as Soumya Mohanty, Managing Director and Chief Solutions Officer, South Asia at Kantar and Graham Staplehurst, Director at Kantar BrandZ.

SHOW NOTES

(00:00) The Take: Finding Mechanics

(04:21) Indian markets in sniffing distance of all-time highs again, Sensex crossing 85,000 after 14 months

(05:56) Oil India announces strategic collaboration with Total Energies of France for exploration: the IEW Segment

(07:55) India’s seafood exporters are putting up a fight, with some help from the Government

(16:46) India’s most valuable brand is..

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On Episode 729 of The Core Report, financial journalist Govindraj Ethiraj talks to Ashish Nanda, Chief Digital Business Officer, Kotak Securities.

SHOW NOTES

(00:00) Stories of the Day

(00:55) Global markets turn nervous even as tech leaders downplay the AI boom.

(02:04) Outgoing Meta AI chief blasts LLMs

(04:38) Morgan Stanley updates and upgrades India outlook to 107,000 on Sensex in a year

(08:31) Algo trading is now becoming a retail product. How it works

(17:48) Cloudflare goes down.

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On Episode 728 of The Core Report, financial journalist Govindraj Ethiraj talks to Anand Kulkarni, Director at CRISIL Ratings.

SHOW NOTES

(00:00) Stories of the Day

(00:50) Valuation guru says he wants to move his money into cash and collectibles

(05:03) India’s mid cap index hits record high

(06:23) The green shoots in Agri export exemptions in the US

(07:18) Gold imports jump and drive up trade deficits but there is some good news too

(09:17) India is going on a cement expansion spree and rural India is powering it

(18:23) Feedback

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On Episode 727 of The Core Report, financial journalist Govindraj Ethiraj talks to Paul Gruenwald, Global Chief Economist at S&P Global as well as Nikhil Narendran, Partner – TMT (Technology, Media and Telecommunications) at Trilegal.

SHOW NOTES

(00:00) The Take

(05:00) Why FP Inflows could restart soon

(11:01) Trump starts rolling back tariffs on food products as inflation bites

(12:11) The shocking fact about US GDP Growth

(25:57) The latest DPDP rules will mean sea change for consumer facing company operations

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Retail investors in India are no longer the “weak hands” of the market. They are behaving more like pros, staying invested through volatility and forcing everyone to rethink how India’s stock market really works.

In this episode of The Core Report Weekend Edition, Financial Journalist Govindraj Ethiraj in conversation with Mr. Pranav Haridasan, MD and CEO, Axis Securities, to decode how the Indian markets have changed from 2020 to 2025 and what that means as we head toward 2026. They unpack the rise of the equity culture, the new discipline in retail investors, and the real story behind flows into equities, derivatives, and IPOs in India.

You will hear a ground level view from a leading brokerage on:

1) Why retail investors now think and act more like institutional investors

2) How the 2020 to 2025 bull run reshaped confidence in Indian equities

3) Whether India’s stock market rally can survive global shocks and AI bubbles

4) Equities versus derivatives and why regulation is cooling risky short term trading

5) How themes like consumption, capex, Make in India, defence, EMS, building materials are shaping market leadership

6) What is really happening in India’s IPO and tech IPO pipeline and how to think about profitless tech valuations

7) Why volatility, climate shifts and changing cycles make forecasting demand harder for manufacturers and consumer companies

8) How policy, GST moves and ease of doing business reforms affect brokers, investors and markets

If you follow business news, markets, tech, manufacturing, policy and IPOs and you want a clear, jargon light view of where India’s markets may be headed next, this conversation is for you.

Watch till the end to hear Pranav’s candid take on:

a) Whether 2025 was the “hard reset” the market needed

b) How he sees earnings, growth and sentiment playing out in the year ahead

c) What long term investors should really focus on in Indian equities

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On Episode 725 of The Core Report, financial journalist Govindraj Ethiraj talks to Ramesh S Damani, Member at the Bombay Stock Exchange (BSE) as well as Chirag Doshi, Chief investment Officer-Fixed Income at LGT Wealth India.

SHOW NOTES

(00:00) Stories of the Day

(01:00) The earnings story sinks in as mid caps race ahead

(03:06) Market watchers are predicting an oil glut next year which is good news for India

(06:03) What India’s ambitious $5 billion export promotion mission needs to become a reality

(08:26) Moody’s says India will grow at 6.5%

(09:06) What low inflation levels mean for fixed income in general and specific

(16:46) The art of writing letters to shareholders and insights from the world’s greatest investor

(31:41) How London luxury home prices are crashing

Register for the 3rd Edition of the Algorand India Summit 

https://algorand.co/india-summit-2025

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On Episode 724 of The Core Report, financial journalist Govindraj Ethiraj talks to Pooja Vijay Ramamurthi, Fellow at Centre for Social and Economic Progress (CSEP) as well as Madhavi Arora, Lead Economist at Emkay Global Financial Services.

SHOW NOTES

(00:00) The Take

(06:17) Markets perk up on trade signals

(07:02) Inflation hits record low, what does that mean?

(14:57) COP30 kicks off in Brazil. What’s at stake this time?

(23:58) International Energy Agency now says electric vehicle sales could slow down and fossil fuel consumption will rise, in a reversal of sorts

Register for the 3rd Edition of the Algorand India Summit 

https://algorand.co/india-summit-2025

For more of our coverage check out ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecore.in⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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On Episode 723 of The Core Report, financial journalist Govindraj Ethiraj talks to Sanjeev Prasad, Managing Director & Co- Head at Kotak Institutional Equities.

SHOW NOTES

(00:00) Stories of the Day

(00:48) Why the more sceptical market analysts are changing their mind on Indian markets

(04:59) Is the US taking a step back from its aggressive stance on tariffs globally, including India?

(07:34) Britannia sees another sudden CEO resignation

(09:32) Are Indian investors selling their mutual funds to fund their purchases, including for festivals?

(11:15) Picking new investment themes as 2025 comes to an end

FULL EPISODE ft Sanjeev Prasad

Register for the 3rd Edition of the Algorand India Summit 

https://algorand.co/india-summit-2025

For more of our coverage check out ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecore.in⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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