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Capital, Confidence And Capacity
The Weekend Playlist
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Good morning.
Some of India’s biggest opportunities now depend on whether the systems around them can keep pace.
Anirudh Bhuwalka examines what it will take to move heavy trucking beyond diesel. Abhay Laijawala looks at the industrial infrastructure behind AI, from data centres and power equipment to metals and defence. Kaushlendra Sinha examines why India’s gold market needs greater transparency as consumers become more discerning. Vidya Mahambare turns to housing, where building homes far from jobs can limit mobility, manufacturing and women’s workforce participation.
Across markets, mobility, retail and employment, the larger question is the same: can India build the infrastructure, incentives and institutions needed for the next phase of growth?
WEEKEND EDITION
What Comes After Diesel For India’s Trucking Industry?
Can India clean up trucking without making freight more expensive?
In this episode of Weekend Edition, Govindraj Ethiraj speaks with Anirudh Bhuwalka of Blue Energy Motors, about what it will take to move heavy-duty trucks away from diesel.
Trucks are a particularly difficult part of the energy transition. India’s freight market runs on thin margins, while electric trucks still carry far higher upfront costs and require dependable charging infrastructure. Yet operating economics are beginning to shift as battery and electricity costs fall.
Bhuwalka sees LNG as a transition fuel for long-haul trucking, while electric could increasingly work on fixed corridors. Blue Energy is testing battery swapping on the Mumbai-Pune route and separating the battery from the truck through an “energy-as-a-service” model to reduce the initial purchase price.
China’s rapid electric-truck adoption offers a reference point, but India’s lower-cost diesel base means its transition will require a different commercial model.
Key Insight
India’s shift away from diesel trucks will depend on whether cleaner technologies can match the economics, infrastructure and operating reliability of an industry built around thin margins and high utilisation.
SPECIAL EDITION
Is India Entering A New Investment Cycle?
In this episode of Special Edition, Govindraj Ethiraj speaks with Abhay Laijawala of Lighthouse Canton, about where the next investment cycle could emerge across Indian and global markets.
Laijawala sees India’s opportunity in the physical infrastructure around AI. Data-centre capacity is expected to expand sharply, creating demand for electrical equipment, cooling systems and gensets, with many beneficiaries sitting outside the large-cap universe.
The same electrification cycle is tightening global supplies of copper, aluminium and silver, while defence manufacturing is creating another set of mid- and small-cap opportunities.
At the same time, improving industrial credit growth and stronger corporate earnings could mark a broader turn in India’s economic cycle after two subdued years for equities.
Key Insight
India’s next investment cycle could be shaped by the physical economy behind AI, electrification and defence, with demand shifting towards infrastructure, metals and industrial companies outside the traditional large-cap universe.
Why Transparency Matters More In A High-Price Gold Market
When gold prices rise, the question is not only what consumers pay, but whether they understand exactly what they are paying for.
In this episode of Special Edition, Govindraj Ethiraj speaks with Kaushlendra Sinha, of the India Association for Gold Excellence and Standards or IAGES, about efforts to bring greater transparency and standardisation to India’s gold market.
Gold retail remains deeply fragmented, with differences in invoicing, making charges, product tagging, buyback terms and sourcing practices. IAGES is trying to address this through voluntary accreditation and third-party audits across retailers, refiners, manufacturers and bullion traders.
Yet the challenge is larger than compliance. As younger consumers become more price-sensitive and investment options such as ETFs grow, jewellery retailers increasingly need to compete on trust as much as tradition.
Key Insight
As gold becomes more expensive and consumers more selective, India’s jewellery market will have to compete not only on purity and design, but also on transparent pricing, sourcing and business practices.
THE CORE QUIZ
What share of India's exports goes to the United States? |
HOW INDIA’S ECONOMY WORKS
India Is Building Homes. But Are They Near Work?
What good is an affordable home if it is far from where the work is?
In this episode of How India’s Economy Works, Puja Mehra speaks with Dr. Vidya Mahambare of Great Lakes Institute of Management, about the link between housing, migration and employment.
Mahambare’s concern is not that India is spending on housing, but where that housing is being created. Subsidised homes in rural areas can tie families to places with fewer jobs, even as workers continue moving to cities and industrial clusters in search of employment.
That makes housing a productivity issue as much as a welfare one. Large manufacturing projects need worker accommodation nearby, while women’s participation depends on safe hostels, childcare and reliable transport. Rental support may also offer more flexibility than subsidising ownership in locations people may eventually leave.
Why This Matters
Affordable housing near employment centres could make it easier for workers to migrate, families to stay together and companies to hire at scale.
SPOTIFY UNLOCK
Longer lives. Rising costs. Market volatility. Uncertain returns.
The assumptions that once shaped retirement planning are being challenged, and the rules of long-term wealth creation are changing with them.
The Core, in partnership with Spotify Unlock, invites a select group of senior leaders, founders and investors to a closed-door conversation on Building Wealth for a Longer Life, moderated by Govindraj Etihraj in conversation with Saurabh Mukherjea, Founder & CIO, Marcellus Investment Managers.
August 25, 2026 | 8:30 AM | Lower Parel, Mumbai
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