Business Standard Podcast

It had hit a boundary on the very first ball. The Indian Premier League (IPL) became the country’s first unicorn in 2008 -- the year it was formed. And in its 15th year, just before the beginning of this year’s season, it became a decacorn, with its business value crossing the $10 billion mark. IPL has indeed brought unprecedented windfall to cricket. Its huge popularity has brought lucrative media and sponsorship deals over the years. So in today’s first story we explore if the IPL has become what Super Bowl is in the USA?  Did unwanted messages irk you while you were enjoying the nail- biting IPL match? And do you also get annoying calls? Then you are not the only one who is complaining about it. An increased number of people are reporting about such unwanted calls and messages. And the government is working to address it. Last week, it asked retailers not to insist on phone numbers of customers. So what are the regulations around sharing of phone numbers? Which authority monitors it? And finally, how will the upcoming Digital Personal Data Protection Bill protect your data?  Talking about data, Meta was slapped with a record $1.3 billion privacy fine last week. The reason? It was accused of transferring data to the US agencies. Moving on, the US leaders reached a tentative deal to raise the government’s 31.4 trillion dollar debt ceiling for two years. This measure brought a relief rally in equity markets across the globe on Monday, May 29. Going ahead, will this uptrend sustain or fizzle out soon? Moreover, will the expanded US debt limit make emerging markets a favourable bet?  It is not just lifting of the debt ceiling. The US took another big decision last week which may also have far reaching consequences. The country’s Food and Drug Administration finally gave a nod to Elon Musk’s brain-implant startup Neuralink to go ahead with the first human clinical study. The company plans to use its microchips to treat conditions such as paralysis. Listen to this episode of the podcast for more.

Prime Minister Narendra Modi inaugurated the new Parliament building on Sunday, May 28 - two days after completing nine years in office and just months before he faces general elections. So as the seat of power shifts from the iconic Parliament building to the new one a couple of blocks away, Tushar Verma offers a peek into exactly how it was built. Who built it? And why was it needed?  From the seat of power for the world’s largest democracy, let us turn our gaze to the world’s highest peak. But it is no longer lonely out there. During the season, Mount Everest is brimming with climbers brushing past each other to reach the summit. The peak is also a pillar for Nepal’s economy. So if you are also planning to hit the mountain trail, Thareek Ahmed’s report will for sure come handy. It tells how much money and time you will need, apart from a sound health, to climb Everest. This is the month when weather is clear in the Himalayas for climbers trying to reach Everest peak. Moving on, this time, the month of May has proved to be volatile for the Indian equity markets. So how long will the range-bound movement continue amid volatility? Puneet Wadhwa caught up with Nilesh Shah, Group President & MD, Kotak Mahindra AMC on how he sees the markets playing out over the next few weeks and his interpretation of the recent Sebi norms for the mutual fund industry. February saw one of the sharpest market capitalisation declines in the history of Indian stock markets. While markets have recovered from the shock delivered by Hindenburg Research, Adani group stocks haven’t. One of the main allegations leveled by the short seller against the Adani group was that it indulged in price rigging. But what is it? Listen to this episode of the podcast to know.    

Prime Minister Narendra Modi has completed nine years in office. Between bowing down at the steps of Parliament to stepping into a new Parliament building, these nine years were marked with several challenges-- including the once-in-a-century pandemic. But how do we judge the performance of any government? One of the ways is to find out how the predecessor performed. We analyse how the governments led by Narendra Modi and Manmohan Singh performed on select economic and social indicators across applicable periods.  What may also go down as one of the hallmarks of the Modi government is its proposed privacy law. The reworked Digital Personal Data Protection Bill is likely to be tabled in the Monsoon session of Parliament. Meanwhile, in Europe, Facebook owner Meta Platforms has been slapped with a record $1.3 billion fine for failing to protect users’ personal information from the US security services. It has been told to stop transferring users’ data to the US. So how will this action by the European Union privacy regulator influence India’s plans to regulate big techs?  Meta, meanwhile, has started the third and last round of layoffs. Several top Indian executives have also found their names in the list. Moving on, India’s largest insurance company, Life Insurance Corporation, had hit the bourses a year ago. But the stock proved to be a wealth destroyer for investors, crashing nearly 40% during the period. The management had to deal with the decline in the value of its investments in Adani group, along with higher tax rate on insurance premium above five lakh rupees. Going ahead, what does the road look like for LIC stock? Will it finally reward its investors or should you stay on the sidelines?  From Dalal Street, let us shift focus to the corridors of the newly-built Parliament. Prime Minister Narendra Modi will inaugurate the building this Sunday, on May 28. He will also install a historic sceptre from Tamil Nadu next to the Lok Sabha Speaker’s seat. It is called Sengol. Listen to thjs episode of the podcast for answers. 

After the Galwan Valley clash about three year ago, ties between India and China had hit a new low in decades. But trade between the two countries touched an all-time high last year. In our first story, we talk about how trade between India and China is shaping up amid strained ties. Chinese suppliers of Apple have reportedly been given preliminary clearance to form joint ventures with Indian companies. China’s popular fashion brand, Shein, is also re-entering the country. So are Chinese firms back in business in India?  Opposition parties, meanwhile, accuse the government of giving opaque statements on the border situation with China. Talking of politics, Congress recently swept the Karnataka polls. While people hailed Rahul Gandhi and other party leaders for the victory, those working tirelessly behind the scene remained behind the scenes. They prepare election strategies and play a vital role in any party’s victory. Like Prashant Kishore is credited with BJP’s rise. And Sunil Kanugolu for Congress’ recent win. But how do these poll strategists help parties?  One of the BJP’s poll plank has been its ‘Make in India’ drive. And it is showing results too. India’s domestic defence production soared past 1 trillion rupees in FY 23. And share of defence companies have surged up to 160 per cent in the past one year, as against a 14 per cent jump in the S&P BSE Sensex. With India’s indigenisation theme gaining momentum, will this dream run continue in related-stocks or a correction is likely in the near-term? Soft drinks industry too is gung-ho. It is raising a toast to a good season of sales -- thanks to the rising temperature. But should you be wary of opening those bottles and cans full of sweet drinks. Or think twice before relishing your favourite ice cream or even cookies? WHO believes so. But why? Listen to this episode of the podcast for answers. 

The Supreme Court has granted Sebi time till August 14th to complete its probe into the allegations of stock price manipulation by the Adani group. So how is the Sebi probe likely to proceed and what will be the challenges along the way?  Looks like the stocks of Adani group companies are back on the track. After hitting a rough patch, they now seem to be on the onward journey. Well, Delhi metro just completed 20 years of its journey. For millions of people of the national capital and its satellite towns, it has become a lifeline of sorts. But, of late, it has been in the news for a different reason: indecency in public places. Cops in civil clothes will now travel with you to ensure that it doesn’t happen. So how will it change your travelling experience?  Metro is also shielding travelers from this scorching heat. Temperature in Delhi has been hovering above 46 degrees Celsius for a while now. But crude oil-linked companies are keeping their cool. Due to easing commodity costs, they have reported strong March quarter results. And related-stocks have gained up to 84 per cent in the past one year, as against a 14 per cent rise in the S&P BSE Sensex. But will this rally continue? Instead of a prized asset, 2000-rupee note has suddenly turned into a liability. While people like us can easily exchange it, those dealing in Hawala transactions are in a soup. But what is a Hawala? Listen to this episode of the podcast for answers. 

The 2000-rupee note has had quite a journey. It came into being seven years ago, with Narendra Modi's out-of-the-blue demonetisation move in 2016. And now, this ‘pink note’ is set to sail off into the sunset. On that note, we have a special show for you today. We talk about the myriad possible impacts of the RBI’s move to strip the 2000-rupee currency of its status as a legal tender. We start by explaining how you should exchange these notes. We take you through the best possible ways as well as the challenges you might face in the process.    But what about the move’s impact on our economy? Will it affect borrowing rates for the government and the companies? What do experts have to say?    The RBI move was also expected to boost liquidity in the banking system.  The sentiment, however, didn't reflect on the bourses as most banking shares remained weak on Monday. So why didn't investors cheer the move? And what's the road ahead for bank stocks?    And now to the central question: why did RBI decide to do away with the 2000 rupee note? In RBI governor Shaktikanta Das’s words, the step was taken under the central bank’s ‘clean note policy’. But what is this policy? We decoded it for you in this episode of the podcast. 

Tesla CEO Elon Musk has been trying to drive on to Indian roads for some years now. But, he has been hitting a speed bump of import duties. India, now the world’s third-largest vehicle market, refused to agree on Tesla Inc’s request to lower the import duty on cars, which can be as high as 100 per cent. While the government insisted Tesla to make in India, the electric carmaker wanted to test the market first with imports. With automaker changing its approach recently, the deadlock may not last long. Tesla is now open to manufacture in India. Does this mean you could soon get behind the wheel of a Tesla? What challenges will Tesla have to overcome before that can happen?  If the latest rounds of negotiations work out, a proposed Tesla Model 2 could be your next all-electric ride. Moving on, last week the Finance Ministry had announced the inclusion of international credit card transactions under the Liberalised Remittance Scheme. Now it will attract a 20% tax collected at source, or TCS from July this year. Amendment of the Foreign Exchange Management (Current Account Transaction) Rules has raised concerns from several quarters that have been sending money abroad. Finf out how the 20% TCS on foreign remittances will affect you. The revision of Liberalised Remittance Scheme last week was aimed at prudent foreign exchange management and prevent by-passing of the LRS limits in international transactions. Meanwhile, equity markets in India witnessed downbeat sentiment last week as concerns over a looming US debt default made investors jittery. As Q4 earnings now come to a wrap, will equities shrug off the volatility and stage a turnaround in the near term?  The ongoing US debt ceiling concerns and worries about higher interest rates for a longer period and a looming recession are going to keep investors on tenterhooks this week. India and the UK, on the other hand, are back on the negotiating table to thrash out contours of Free Trade Agreement. But a tussle is brewing between the whisky makers of both the nations. It is over ‘angel’s share’. What is it? And why whisky makers are sparring over it? Listen to this episode of the podcast to know more. 

What’s in focus today is India’s economy. India’s goods exports fell by over 12% in April 2023 -- reflecting the slowing demand in the inflation-hit foreign countries. The industrial output grew just a tad above 1% in March, which was slowest in five months. Inflation numbers meanwhile offered some breather. So what do these three crucial parameters of India’s macroeconomic growth tell about its growth story?  The world economy went into a tailspin when the pandemic struck. And countries are still paying the price. But WHO recently said that it is no longer a global health emergency. Sohini Das recently caught up with prominent epidemiologist K Srinath Reddy to find out where we stand now. And what is the road ahead?  While every aspect of our lives was impacted by the pandemic, Indian markets somehow remained immune to the virus. Over the years, the Nifty IT has closely mirrored moves in the NASDAQ index. Calendar year 2023 so far, however, has proved to be different with both these indices performing differently. So, is the correlation between the two indices ending?  If you are someone who uses credit cards for international transactions, we have news for you. From July 1st, your credit card transactions abroad will get costlier. Not only will you have to pay a 20% TCS on each of these transactions, but you will also have to limit the spending to under $250,000 in a financial year. This episode of the podcast breaks it down for you.

In our first story today, we take a peek at the road ahead for India’s electronics exports. In 2018, during the peak of the US-China trade war, Washington had imposed a 25% tariff on a slew of Chinese electronics products. While the move riled China, its smaller competitors rejoiced. They saw an opportunity. Since then, nations like Vietnam, Malaysia and Mexico, have seen a surge in their exports to the US. India, however, seems to have lagged behind. So how can it catch up in the US-electronics exports race? Twitter is all the rage right now. Like it has always been. And it has been rife with controversies since Elon Musk took over. He had fired almost 50% of the workforce including its CEO Parag Agarwal. He also privatized Twitter. And now, Musk has appointed Linda Yaccarino as the new CEO. So will she tick the right buttons and restore sanity at Twitter?  While the Twitter saga will continue, let us see what is exciting the investors in India. The real estate sector has been on investor's radar. Institutional investment in the sector jumped 37% to 1.65 billion dollars during January-March quarter, driven by higher inflow in office and housing properties. The related stocks, too, have given a stupendous return during this period. So will the sector and the stocks continue to remain a favorable bet going ahead?  While Indian markets are looking up, European stocks meanwhile stumbled yesterday on May 17. Wall Street banks and asset managers are on the edge. But why? Believe it or not, the United States of America is staring at a default. Its leaders, including President Joe Biden, are holding meetings to avert it by raising the debt ceiling. But what is a debt ceiling? Listen to this episode of the podcast for answers. 

A war of words has erupted between Go First and aircraft lessors -- who want their planes back from the cash-strapped airline. While the Aviation Working Group, which represents the lessors, has put India on a watch list, the Wadia group-owned airline has termed it as an attempt to influence an ongoing case in NCLAT, where lessors have challenged NCLT moratorium on the airline’s assets. The moratorium bars lessors from recovering their aircraft. So how will this tussle between Go First and lessors impact the Indian aviation sector?  Boeing, meanwhile, has said that Indian airlines are likely to require over 2,200 aircraft in the next 20 years, and the Go First episode can't knock the growth trajectory of India’s civil aviation market off course. Moving on, one of the largest conglomerates of the country, Larsen and Toubro, has been flying high for decades now - leaving behind a trail of development projects and much more. Recently it has seen a change of guard. So where is L&T headed from here?  Despite a lower-than- estimated Q4FY23 earnings, several top brokerages like Jefferies and Nuvama have retained their positive views on L&T stock. Moving on, at 6,480 crore rupees, net inflow into equity mutual funds hit their lowest level since November last year. The flows declined even as debt funds saw inflows of over 1 trillion rupees. So, what caused this sharp drop in equity mutual fund inflows? And what is the road ahead?  Once a favourite investment option, debt mutual funds seem to have lost their charm after the government withdrew long-term tax benefits it used to enjoy. But, as they say, where there is a will there's a way. High net worth individuals are now turning to private credit funds. So what are they? Listen to this episode of the podcast to know more. 

Doug McMillon, the chief executive officer of the biggest retail company of the world, Walmart, was in India recently. During this time, in a conversation with Business Standard, he indicated that the retail giant’s aspiration for multi-brand retail might be a thing of the past. What then is Walmart’s future Indian strategy?  Like the retail giant Walmart, WhatsApp too has been eyeing the large Indian market. In a matter of few years, it has become part of daily lives of over 480 million people in India. But, scammers also came along. And despite all the checks and regulations in place, an increasing number of people are falling prey to their tricks. People now are also reporting unsolicited calls from unknown international numbers. Why is it so? And what are WhatsApp and Indian regulators doing to make this platform safe?    During his interaction with Business Standard, the Walmart CEO said that both Flipkart and PhonePe will eventually go for IPOs and the call on timing will be taken by independent boards. The company is waiting for that right moment. Meanwhile, according to a report, over 50 companies are expected to raise a combined 76,190 crore rupees via IPOs in FY24. But primary market activity has remained muted so far in 2023 with weaker-than-expected participation by retail investors. So, what’s keeping retail investors away from IPOs? And will the trend change in the days to come?  Go First has also been planning to raise money from the primary market since 2015. But the airline is now grounded, and its owners have filed for voluntary insolvency. This has left aircraft lessors in a fix and they too have approached NCLAT for relief. But what are aircraft lessors? Listen to this episode of the podcast for answers.

Dust over the campaign trails in Karnataka has settled now. Loudspeakers have fallen silent and EVMs are back in store rooms. Over three crore voters have elected 224 MLAs, and the suspense over the results is now over. So what next for Karnataka?  Both the BJP and Congress had made a host of promises for the state’s young population. While the BJP had vowed 10 lakh new jobs, the Congress had announced a monthly allowance to unemployed graduates and diploma holders. But why is a large section of Indian youth not landing jobs despite degrees and diplomas? Recently the central government has also told the Parliament that the number of students going abroad for higher education has jumped by 68% in 2022. Why then are so many Indian students flying abroad for higher  degrees?  Moving on, while the overall market has remained volatile so far this year, the midcap and smallcap pockets are emerging as winners, outperforming the large caps. Find out the reasons supporting their upward movement and whether the strength will sustain ahead. The stock markets of neighbouring Pakistan, meanwhile, crashed and its rupee fell to a record low after the arrest of opposition leader Imran Khan last week. While the country’s Supreme Court later termed the arrest illegal, and a high court granted him bail, the country remains on the edge. The cricketer-turned-politician was arrested in the Al-Qadir Trust case. But what is this controversy all about? Listen to the podcast for answers.   

Cash-strapped Go First has now been granted bankruptcy protection. The airline wants a “comprehensive debt restructuring” and its planes may well hit the runways soon. But will the future bring clear skies or more turbulence for Go First? And, what do the latest developments mean for the Indian civil aviation sector?  Bengaluru’s airport, meanwhile, has been ranked among the most punctual airports in the world in 2022. It bagged 20th spot in the list by Cirium -- an aviation data analytics company. The city, which is also famous as India’s IT capital, has been the driving force behind Karnataka’s economic growth. And that of the country’s too. Karnataka, which has seen eight chief ministers since 2008, is also the third largest state economy in India. So, as the people of the state wait for the new assembly after a historic 73% turnout, find out if there is more to the numbers than what meets the eye,  Moving on to financial markets, US-based investment arm Invesco recently slashed Swiggy’s valuation to 5.5 billion dollars, nearly 50% down from its peak valuation of over 10 billion dollars. This also coincided with a new delivery platform ONDC spreading its wings in the domestic market. All of this sent Zomato’s shares down 5% between May 9 and 10. But is there more pain ahead for the stock? Will Zomato’s valuation also come under threat? And what should investors do amid the ongoing uncertainty?  After the markets, let us shift focus to our privacy. “Messages and calls are end-to-end encrypted. No one outside of this chat, not even WhatsApp, can read or listen to them.” If you are a WhatsApp user, you are sure to have read this message on at least one of your contact’s message windows. But have you ever wondered what it means to have your messages end-to-end encrypted? Listen to this episode of the podcast for answers. 

At the fag-end of January this year, when Adani group stocks were falling like house of cards, heads had started turning towards another highly-leveraged conglomerate: Vedanta Resources Ltd. But, during the last three months, both the companies have trimmed their debt, and some skepticism too. So can we safely say that Adani and Vedanta have come out of the woods?  Experts, meanwhile, point out that better planning and foresight may have saved the two big groups the hassle they have just gone through. Moving on, we also need to devise a wise strategy to ensure a hassle-free retirement. The EPFO recently came out with a long-awaited replacement methodology for contribution towards higher EPS pension. But what is it? And why are some people still skeptical about it? And will it not add extra burden on the retirement fund body?  Let us move on to markets now. Analysts believe that India Inc could be embarking on a new phase of capex cycle. With capacity utilisation at around 75%, orders are streaming in for related companies. At the bourses, shares of capex-related companies have surged in the range of 13-41% thus far in 2023. So, is there any headroom for more gains?  The stock of Zomato slipped on bourses on May 9 amid reports that government-backed ONDC may hit its business. People are hailing the lower prices of food items being offered on ONDC. But there is much more to it? In our decoded segment, This episode of the podcast tells about ONDC and more.  

Global slowdown, it seems, is now casting a shadow over engineering college campuses in India. It’s no longer just a textbook subject. For millions of engineering students and pass outs, it’s a grim reality now. After years of aggressive hiring, major IT firms are now giving a miss to campuses. Those hired are also in a limbo, as their on-boarding has been delayed. New Wipro recruits were recently taken aback when the IT major asked them to settle for a 3.5-lakh rupee package instead of 6.5-lakh rupee offered to them initially. So is the IT dream of Indian youngsters turning sour?  The Russian attack on Ukraine -- which plunged the world into economic slowdown -- completes one year today. The UN has said that the 8,000 civilian deaths in Ukraine is just a “tip of the iceberg”, as the war-ravaged nation continues to count its dead amid no sign of truce. The world too is paying a heavy price as several major economies are staring at recession. India too couldn’t remain unaffected. So, how did the war affect India’s economy and foreign policy?  India’s aviation sector, meanwhile, is on the cusp of a change as airlines are planning to induct a record number of aircraft. Air India recently placed an order for 470 aircraft. IndiGo is to take deliveries of around 500 planes, and Go First and Akasa Air have orders for up to 72 aircraft. Analysts believe that these increased capacities will support the world’s third largest and the fastest growing aviation market in the world. But, are these triggers enough to give wings to related shares? Or are there risks that the markets are not factoring in?  Indian companies with larger greenhouse gas footprints will soon have to pay a new tax on their products in several developed countries. It is called the carbon border tax. India recently wrote to the WTO to register its objections, calling it discriminatory and protectionist. But what exactly is the carbon border tax? Listen to this episode of the podcast to know more.