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 definitions across states, transparent reporting, and institutional reform to ensure that every rupee spent is visible and accountable. Drawing on lessons from global peers, Singh argues that sustainable growth depends on seeing and managing what governments spend. “You cannot manage what you can’t see,” he warns. Tune in for insights on how India can build a more transparent and resilient fiscal framework for the years ahead.

PDF - The State of State Finances in India: Bridging the Data Gaps: https://www.thecore.in/h-library/is-3aanoops.pdf

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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 resilience. The discussion also delves into the role of media in shaping economic narratives and the lessons India can learn from China’s measured rise. Kathuria emphasizes India’s intrinsic entrepreneurial talent, frugal innovation, and the need to engage in global trade frameworks like CPTPP and RCEP. Tune in for insights on how India can leverage its strengths to become a leading global economic power.

(00:00) Introduction

(01:15) The Politics Behind India–US Trade Relations

(04:40) Why Agriculture Is Always a Sticking Point

(08:05) The Role of Tariffs and Market Access

(11:20) What India Can Offer the United States

(14:35) Mini Deals vs. Comprehensive Trade Agreements

(17:10) How Global Trust Has Broken Down Since the Pandemic

(20:25) India’s Strategy for Building Economic Resilience

(23:45) The Importance of Diversifying Energy and Trade Partners

(26:30) Media Narratives and Policy Misunderstandings

(29:10) Learning from China’s Measured Global Strategy

(31:45) Redefining India’s Red Lines in Trade Negotiations

(33:00) Why Rajat Kathuria Remains Optimistic About India’s Future

(34:56) Conclusion

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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 tariff-led industrial policy, and why inclusive development—not just fiscal incentives—will ultimately determine the size of India’s consumer class and its ability to attract sustained private capital.

Tune in for insights on what it will take to reignite private investment, implement reforms that actually deliver, and unlock India’s long-awaited growth potential. This episode offers both a reality check on India’s reform story and a roadmap for policymakers to create a more predictable, investment-friendly future.

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