The Ideas Powering India’s Next Leap

Good Morning,

From the ground realities of state-led development to the cutting edge of blockchain audio tech, and finally to the macro forces shaping India’s next chapter — this edition brings you three sharp perspectives on a nation in motion.

Prachi Mishra lays out a bold, data-backed roadmap for how Bihar can accelerate prosperity and close its income gap.

Shreyas Kamath reimagines the future of sound, showing how blockchain can protect creators and transform audio IP.

And Sajjid Chinoy steps back to decode the larger picture — why India’s economy continues to hold steady even as global markets shift.

WEEKEND EDITION

AI Boom, Tariff Wars, and India’s Surprising Sweet Spot

A global economy that refused to slow down. An AI boom that no one priced in. And an India navigating tailwinds, turbulence, and the tectonic shifts of 2026.

This weekend, Govindraj Ethiraj is joined by Sajjid Chinoy, Managing Director & Chief India Economist at JPMorgan, to break down why the world avoided the economic “Armageddon” so confidently predicted just months ago — and what the unexpected momentum means for India.

Inside the episode:

• Why the global slowdown never came — and how tariffs, exemptions, and supply-chain rerouting reshaped the story.
• The AI boom nobody forecasted — and why it’s masking deeper fragilities in labour markets worldwide.
• The China dilemma — excess capacity, deflation, and a flood of cheap exports disrupting emerging markets.
• India’s moment of cyclical strength — fuelled by low inflation, strong monsoons, GST cuts, and monetary easing.
• The hard question: Can India sustain 7–7.5% growth in a world turning inward — and can private capex finally revive?
• The big 2026 risks — from a potential U.S. recession to an AI bubble and rising global debt.
• Why India must brace for labour vs. capital battles, rethink manufacturing competitiveness, and double down on skilling.

“This is a new world — less global, more fragmented, driven by capital-intensive AI,” Sajjid warns.
“And India must figure out how to stay competitive when traditional growth engines weaken.”

If you care about the Indian economy, global markets, trade dynamics, or the future of jobs in an AI-led world — this is the episode you cannot miss.

MESSAGE FROM OUR SPONSOR

But what can you actually DO about the proclaimed ‘AI bubble’? Billionaires know an alternative…

Sure, if you held your stocks since the dotcom bubble, you would’ve been up—eventually. But three years after the dot-com bust the S&P 500 was still far down from its peak. So, how else can you invest when almost every market is tied to stocks?

Lo and behold, billionaires have an alternative way to diversify: allocate to a physical asset class that outpaced the S&P by 15% from 1995 to 2025, with almost no correlation to equities. It’s part of a massive global market, long leveraged by the ultra-wealthy (Bezos, Gates, Rockefellers etc).

Contemporary and post-war art.

Masterworks lets you invest in multimillion-dollar artworks featuring legends like Banksy, Basquiat, and Picasso—without needing millions. Over 70,000 members have together invested more than $1.2 billion across over 500 artworks. So far, 23 sales have delivered net annualized returns like 17.6%, 17.8%, and 21.5%.*

Want access?

Click here to skip the waitlist →

_{Investing involves risk. Past performance not indicative of future returns. Reg A disclosures at masterworks.com/cd}

BUILD ON BLOCKCHAIN

Powering sound. Elevating experiences. Transforming audio — with blockchain

What can a blockchain really do?

Meet Shreyas Kamath, Founder of WebSonix.

The future of audio IP is transparent, creator-first, and secured on-chain — and Shreyas is building it.

Stay tuned for more conversations on blockchain innovation, breakthroughs in audio tech, and the evolving world of on-chain creativity.

The Blockchain Audio Revolution with WebSonix at the Algorand India Summit is just the beginning.

The 2025 Algorand India Summit is coming to Bengaluru on December 6-7. Register today to discover how blockchain technology is helping transform access to finance.

Register today at https://algorand.co/india-summit-2025.

HOW INDIA’S ECONOMY WORKS

Can Bihar Leap to Double-Digit Growth?

In this Weekend Edition, journalist Puja Mehra speaks with economist Prachi Mishra of Ashoka University, lead author of a forthcoming report on Bihar’s path to becoming a Viksit Bihar.

Mishra argues that Bihar must move beyond traditional agriculture and services to close its large per-capita income gap with the rest of India. Her roadmap highlights targeted agro-industrialisation (maize, makhana, litchi), tourism built on cultural circuits, and the development of GCC hubs, SEZs, and logistics zones.

But growth hinges on stronger state capacity, better public investment quality, improved revenue mobilisation, and clearer fiscal rules. Drawing on district-level data, she outlines how geography, value addition and jobs must align for Bihar to truly transform.

A concise, actionable blueprint for policymakers — and a must-watch for anyone invested in Bihar’s economic future.

MESSAGE FROM OUR SPONSOR

7 Actionable Ways to Achieve a Comfortable Retirement

Your dream retirement isn’t going to fund itself—that’s what your portfolio is for.

When generating income for a comfortable retirement, there are countless options to weigh. Muni bonds, dividends, REITs, Master Limited Partnerships—each comes with risk and oppor-tunity.

The Definitive Guide to Retirement Income from Fisher investments shows you ways you can position your portfolio to help you maintain or improve your lifestyle in retirement.

It also highlights common mistakes, such as tax mistakes, that can make a substantial differ-ence as you plan your well-deserved future.

Download your free copy today.

THE TEAM

✍️ Zinal Dedhia, Kudrat Wadhwa | ✂️ Rohini Chatterji | 📹️ Maitrayee Iyer | 🎧 Joshua Thomas

🤝 Reach 80k+ CXOs? Partner with us.

✉️ Got questions or feedback? Reach out.

💰 Like The Core? Support us.