businessline's State of the Economy Podcast

• Theme: IT services | AI governance, compliance & risk: what Indian enterprises must prioritise

  In this episode of  State of the Economy podcast, Businesslines’s Sanjana B speaks with Siddesh Naik, Country Leader, Data & AI Software, IBM India & South Asia and Rajesh Ganesan , CEO, ManageEngine to unpack how AI is transforming Indian industries.   From banking and healthcare to IT operations, AI is moving from pilot projects to full-scale deployment. The discussion covers AIOps, intelligent automation, and the rise of agentic AI—digital agents that make autonomous decisions. With a focus on enterprise readiness, governance, and real-world use cases, this episode offers key insights for businesses aiming to harness AI's true potential.  (Host: Sanjana B, Producer: Prethicshaa Gurumoorthy) About the State of the Economy podcast  India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.

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• Theme: Real Estate | Why is redevelopment such a hot bet in India's financial capital?

  In this episode of The State of the Economy podcast by BusinessLine,  Abhishek Law speaks with Bamasish Paul, Co-founder, Managing Partner and CEO of Ethonhurst Capital Partners discussing the evolving landscape of India’s real estate sector.   The episode begins with Paul unpacking the nuances of Mumbai's ₹3 lakh crore redevelopment market, explaining how older cooperative housing societies are being transformed into premium high-rises with modern amenities—without upfront land acquisition. It's a capital-efficient strategy that offers lower risk, staggered investment, and significant returns for investors.  From society redevelopment models to the impact of regulatory frameworks and FSI (Floor Space Index) norms, Paul explains why this niche segment, though challenging, presents a unique opportunity. He also sheds light on the broader real estate investment climate, the shifts from equity to structured credit, and the cautious optimism surrounding foreign investments amid global uncertainties like Trump-era tariffs.  Listeners will gain rare insights into how redevelopment differs from conventional residential projects, what makes Mumbai so uniquely suited for it, and whether this model can scale to other Indian cities. Paul also touches on the current state of commercial real estate, the rising influence of GCC demand, and the evolving interest of global PE giants like Blackstone in India’s housing market.  (Host: Abhishek law Producer: Prethicshaa Gurumoorthy) About the State of the Economy podcast  India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.

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• Theme: Automobiles | What will it take for EVs to truly take off in India?

  In this episode of BusinessLine’s State of the Economy Podcast, host Ronendra Singh is joined by Som Kapoor, Partner and Leader for Future of Mobility and Retail at EY India, for a conversation on how India’s mobility sector is rapidly evolving. Som begins with a bold statement: “Mobility in India, all over the world according to me, will change more in the next 5 years than it’s changed in the last 50.” He unpacks the trends behind this shift—from the rise of alternative fuels and electrification to the way people are rethinking car ownership. Traditional models of owning vehicles are being replaced with more flexible approaches like leasing, subscriptions, and shared mobility. As Som explains, “There’s a fair amount of people who may want to buy car for usage rather than buy car for just ownership.” The episode also explores why India is unlikely to rely on a single fuel source. Instead, a mix of electric, CNG, ethanol, hydrogen, and hybrid options will coexist to suit different needs and geographies. But challenges remain—especially when it comes to infrastructure and user confidence. “If there were no challenges, we wouldn’t be only at 2%, we would be at a much higher percentage anyway,” Som notes, referring to the current uptake of electric vehicles. From the growing influence of rural consumers to India’s potential as a global automotive exporter, this episode paints a realistic picture of where mobility in India is heading—and what it means for the road ahead. Listen in! (Host: S Ronendra Singh, Producer: Siddharth MC) About the State of the Economy podcast India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.

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• Are GCCs and IT services allies or adversaries in India’s tech growth story?

  In this episode of the State of the Economy Podcast, host Sanjana B is joined by a distinguished panel of industry leaders—Ajay Prabhu, President, Technology Services, Quest Global; Mamatha Madireddy, Managing Director and Head of HSBC India Global Service Centres & Chairperson, Nasscom GCC Council; Jitender Mohan, Business Unit Head, Travel & Hospitality, WNS; and Srikanth Srinivasan, Vice President and Head of Membership & Outreach, Nasscom—for an insightful deep dive into India’s evolving IT sector. Together, they explore the shifting landscape of Global Capability Centres (GCCs), the transformational impact of AI on Business Process Management (BPM), the rising strategic role of Engineering R&D (ER&D), and the policy-level catalysts needed to unlock further innovation and scale. Setting the tone, Srikanth Srinivasan emphasises the cooperative nature of the ecosystem: “GCC’s and IT services companies, nobody’s posing a threat to anybody. It’s a very symbiotic relationship. It is a relationship of 1 + 1 is greater than two.” Mamatha Madireddy elaborates on the evolution of GCCs, observing: “Now GCC’s have moved away from being this traditional back-office operations to now GCC’s are centers of innovation. They are centres of research and centres of development.” On the engineering side, Ajay Prabhu highlights how India is gaining global recognition: “It just puts you on the engineering map of the world, brings that kind of credibility because engineering is very core.” Meanwhile, addressing the buzz around AI in BPM, Jitender Mohan reflects on the narrative shift: “Will AI eat BPM for breakfast? That’s where the joke started... But today, we are truly able to create transformation solutions and value differentiation offerings.” Host:Sanjana B; Producer: Siddharth Mathew About the State of the Economy podcast  India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.

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• Theme: Commodities | Indian households and the gold budget: How price hikes are affecting consumption

  In this episode of the State of Economy Podcast, businessline's  Subramani Ra Mancombu speaks with NS Ramaswamy, Head - Commodity desk & CRM, Ventura Securities offers his insights into gold's performance, noting a 35% return over the past 15 months and forecasting a minor short-term correction before a continued bullish trend.  The podcast highlights how geopolitical tensions and concerns about the global economy have driven precious metals like gold and silver to new highs. Ramaswamy explains that medium to long-term factors, such as a potential economic slowdown and anticipated interest rate cuts, support his optimistic outlook for gold.  The discussion also touches on the impact of rising gold prices on Indian demand, particularly in the jewellery sector, where price hikes are expected to dampen consumer appetite. In contrast, silver has been experiencing gains alongside gold, but Ramaswamy suggests that its performance may be more volatile due to its reliance on industrial demand. He points out that while physical shortages could push silver prices higher, factors like weak manufacturing activity and the global economic slowdown may limit its growth.  Finally, the podcast shifts to copper, which faces a subdued demand outlook due to weakness in China's real estate sector and broader industrial slowdown. Ramaswamy suggests that while supply constraints might support prices, the overall demand in key economies will likely keep copper's growth limited in the near term.   (Host: Subramani Ra Mancombu Producer: Prethicshaa Gurumoorthy) About the State of the Economy podcast  India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.

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