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PODCAST

How India"s Economy Works

Join journalist Puja Mehra as she breaks down one story to give you all the context you need to understand how it fits into the larger picture of India"s economy.

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All Episodes

00:30:35

What India’s Impressive GDP Growth Numbers Are Hiding

How India"s Economy Works ·

2026/01/14

In this episode, journalist and author Puja Mehra speaks with economist Partha Chatterjee and Dean of Academics at Shiv Nadar University. They talk about how the Indian economy is really performing beneath the headline numbers and what recent data signals about growth prospects through 2026. Drawing on the latest GDP estimates, inflation readings, labour market indicators, and credit trends, Chatterjee explains why strong real GDP growth and low inflation—hailed by the Reserve Bank of India as a

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00:21:24

What the Data Reveals about India–US Trade Under 50%...

How India"s Economy Works ·

2025/12/31

In this episode, journalist and author Puja Mehra speaks with trade policy expert Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), about the impact of steep US tariffs on India’s exports and what the latest data reveals about the state of India–US trade negotiations. Drawing on sector-wise export trends, Srivastava explains the puzzling two-step trajectory in India’s exports to the US—a sharp initial fall followed by a partial recovery even as tariffs climbed to 50%—and

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00:27:24

Cash Transfers For Women Is Sound Economics

How India"s Economy Works ·

2025/12/17

In this episode, journalist and author Puja Mehra speaks with economist N. R. Bhanumurthy about the rise of women-focused cash transfer schemes and what they reveal about India’s social policy priorities. Drawing on his evaluations of early pilots in Madhya Pradesh that shaped the Ladli Behna programme, Bhanumurthy explains why cash outperforms kind transfers, how implementation improved with better beneficiary identification and payment systems, and what the evidence shows about nutrition gains for

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00:25:04

Is India’s Demographic Dividend Over?

How India"s Economy Works ·

2025/12/03

In this episode, journalist and author Puja Mehra speaks with economist Arjun Jayadev, Director at the Centre for the Study of the Indian Economy (CSIE) at Azim Premji University and co-author of a major new study on how India’s demographic dividend has actually contributed to economic growth across states. Jayadev explains why India’s per-capita growth has diverged sharply across regions, how GDP per capita can be decomposed into productivity, employment, and demographic effects, and what this

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00:26:43

The Economics Behind a Viksit Bihar and Real...

How India"s Economy Works ·

2025/11/19

In this episode, journalist and author Puja Mehra speaks with economist Prachi Mishra, Professor at the Department of Economics, and Director and Head of Isaac Center for Public Policy at Ashoka University and lead author of a forthcoming report on how the Bihar can accelerate its path to Viksit Bihar. Mishra explains why Bihar must aim for sustained double-digit growth to close its large per-capita income gap with the rest of India, and why doing so requires more than traditional agriculture or

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00:30:32

We Assume India Can’t Export to China, But There’s a...

How India"s Economy Works ·

2025/11/05

In this episode, journalist and author Puja Mehra speaks with economist Dr. Nisha Taneja, Professor at ICRIER and author of a comprehensive study on India–China trade, about how India can recalibrate its economic relationship with China. Taneja explains why India’s imports from China continue to rise despite policy tightening and geopolitical tensions, and why efforts to restrict trade have not reduced dependence. She outlines how India can expand its export base by targeting a $161 billion

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00:25:51

The Shift from Trade to Public Spending as the New...

How India"s Economy Works ·

2025/10/22

In this episode, Puja Mehra speaks with economist Dr. Anoop Singh, author of Managing Public Finances in a New Global Era: India’s Experiences and Challenges, about how India can strengthen fiscal discipline in an age of slowing trade and rising public debt. Singh explains why the world is shifting from trade-driven to fiscal-driven growth and how India must confront the challenges of opaque accounting, off-budget borrowing, and mounting subsidies. He highlights the urgent need for common

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00:36:10

The Give and Take Needed to Bring the India–US Trade...

How India"s Economy Works ·

2025/10/08

In this episode, Puja Mehra speaks with economist Dr. Rajat Kathuria about the evolving landscape of India-US trade relations and the broader challenges of global economic engagement. Kathuria explains how India must balance political sensitivities in sectors like agriculture while ensuring competitive access to the US market. He highlights the importance of tariff reductions, strategic concessions, and diversification in trade and energy imports to attract investment and strengthen economic

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00:36:00

India’s Outsized Efforts for Outsized Growth...

How India"s Economy Works ·

2025/09/23

In this episode, economic journalist and author Puja Mehra speaks to Aurélien Kruse, Lead Economist of the Economic Policy team in India at the World Bank and lead author of its recent report on India. The conversation unpacks how India can break out of the middle-income trap, why small firms struggle to scale up, and what stalled reforms on land, labour, and credit mean for the country’s competitiveness.They also discuss whether India’s large domestic market is enough to drive growth, the limits of

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01:00:34

The GST Reform India Needs but Didn’t Get with Arbind...

How India"s Economy Works ·

2025/09/10

In this episode, economic journalist and author Puja Mehra speaks to Arbind Modi, retired IRS officer and Senior Economist at the IMF and one of the chief architects of India’s Goods and Services Tax (GST), about what India’s broken tax system means for its growth ambitions. The conversation explores how GST’s design flaws have hurt competitiveness, why exempting large sections of income undermines fairness, and how Centre–State revenue sharing has created new fiscal strains.The discussion connects

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00:35:50

Why India’s Russian Oil Imports are Suddenly Bugging...

How India"s Economy Works ·

2025/08/28

In this episode, journalist Puja Mehra speaks to Suhasini Haidar, Diplomatic Affairs Editor of The Hindu, about what India’s failed trade deal with Donald Trump reveals about the country’s foreign policy. The discussion unpacks how India balances principles with pragmatism in global negotiations, the costs of missed opportunities in its own neighbourhood, and the deeper shifts from globalisation to populism that are reshaping trade worldwide. Suhasini also explains why India’s diplomatic space

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00:44:22

Trump Has Reset India and the World for at Least the...

How India"s Economy Works ·

2025/08/14

In this episode, author and journalist Puja Mehra speaks to Neelkanth Mishra, Chief Economist at Axis Bank, about the lessons India can draw from past currency wars to navigate the turbulent years ahead. They discuss how, in the decade after the collapse of the Bretton Woods system, countries devalued their currencies to gain trade advantages—and how similar pressures are resurfacing today as major economies look to depreciate their exchange rates. Drawing on global historical patterns, Mishra

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00:35:20

Global Upheaval, National Ambition: India’s Policy...

How India"s Economy Works ·

2025/08/11

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, Dr. Kumar explains that India is perhaps the only country in world history that must develop while

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00:32:14

What India Gained—and Gave Up—in the UK Free Trade Deal

How India"s Economy Works ·

2025/07/30

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. But what lies beneath the surface?Prof. Das explains why, despite the initial excitement, the fine print

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00:40:55

TACO vs Tariffs: Can India Trust Donald Trump

How India"s Economy Works ·

2025/07/16

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 are in Washington for another round of talks, and expectations are high. Prof. Das explains what India

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00:48:35

JRD Tata to Vijay Mallya: The Story of India's...

How India"s Economy Works ·

2025/07/02

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 policy, corporate decision-making, and regulatory uncertainty shaped the rise and fall of airlines like Jet

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00:44:46

Why India's Employment Puzzle Resists Solutions with...

How India"s Economy Works ·

2025/06/18

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 underfunding, and the lack of coordination between ministries and levels of government. They also delve into what

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00:38:56

The Hidden Costs of the India-UK Free Trade Agreement...

How India"s Economy Works ·

2025/06/03

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 his deep experience in global trade negotiations, Professor Das explains how developed countries often

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00:27:37

Do Wealthy Indians Pay Enough Tax with Ram Singh

How India"s Economy Works ·

2025/05/20

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 less honest as wealth increases. They talk about changes in compliance between 2014 and 2019, the role

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00:35:58

The Sovereign Push Fueling India’s AI Aspirations...

How India"s Economy Works ·

2025/05/06

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 indigenous capacity, but without strong competition policy and sustained investment in innovation, India

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