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Every Monday to Saturday, tune in as financial journalist and host Govindraj Ethiraj gives you the latest news in business, economy and technology
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In this episode of The Core Report Special Edition, financial journalist Govindraj Ethiraj is in conversation with Gurcharan Das, author and commentator, on whether 2026 could become India’s biggest reform moment since 1991 and if the country can finally cut red tape, boost manufacturing, and create jobs at scale.As US tariffs and global trade shifts reset supply chains, India has responded with steps like GST reform, labour codes, easing non tariff barriers, and changes to quality control orders. But the deeper question remains. Why did India grow strongly after the 1991 economic reforms, lift millions out of poverty, and still struggle to create enough factory jobs, exports, and global manufacturing leaders?The conversation explores how overregulation, protectionism, and policy bottlenecks weakened competitiveness, and why deregulation and business friendly reforms could unlock investment, exports, and mass employment. Gurcharan Das also explains what India can learn from the iPhone manufacturing shift, the role of exports in driving prosperity, and how 2026 could shape India’s long term growth story.If you follow the India economy, economic reforms, business and world news, manufacturing, exports, global trade, tariffs, investment, and job creation, this episode offers context, clarity, and perspective on what may lie ahead.Like, share, and subscribe to The Core Report for in depth conversations on India’s economy, policy, markets, and global trends.#IndiaEconomy #EconomicReforms #Manufacturing #Jobs #GlobalTrade #TheCore #TheCoreReport
Will We Say Goodbye to OTPs in 2026? As India enters the next authentication era, this episode of The Core Report explores whether one-time passwords are finally reaching the end of the road and what could replace them in banking, payments, and everyday digital life.In this special edition, Govindraj Ethiraj speaks with Pramod Varma, Co-Founder & Chief Architect, Networks For Humanity (NFH), Co-Creator, FINTERNET & BECKN Protocol, architect behind Aadhaar, UPI, DigiLocker, eSign, Account Aggregator, and ONDC, to unpack how India’s digital public infrastructure is quietly moving beyond OTPs. From face authentication and biometrics to smartphone-based security, layered KYC, and verifiable credentials, this conversation explains why the current system feels broken and what a smarter, more inclusive model could look like by 2026.As digital scams rise and compliance burdens grow, are OTPs still the safest option or have they become a bottleneck? Why do banks still rely on paper, repeated KYC, and friction-heavy verification when India already has the technology to go fully digital? And could Aadhaar-based face authentication and app-driven cryptographic security offer a future that is both safer and easier for consumers and businesses?This episode breaks down the future of authentication in India, the shift away from OTP-based security, and what it means for financial services, digital identity, KYC reform, and ease of doing business. Essential viewing for professionals tracking fintech, policy, digital transformation, and India’s evolving digital economy.Subscribe to The Core Report for conversations shaping India’s business, policy, and digital economy.#OTPs #DigitalIndia #Authentication #Fintech #TheCoreReport #TheCore
Growth Up Inflation Down. How India Defied Economic Logic? That question shapes this Core Report Special Edition with Govindraj Ethiraj, as India closes out 2025 with stronger GDP growth even as inflation cooled sharply.Govindraj Ethiraj speaks with DK Joshi, Chief Economist at CRISIL Ratings, on the biggest macro surprises of 2025 and what India should watch in 2026. They break down why GDP growth was revised up, why inflation fell when it usually rises, and how low nominal growth can quietly impact tax collections and corporate earnings.You will also hear what powered India’s resilience. Normal monsoon and softer oil prices, strong bank and corporate balance sheets, RBI rate cuts and liquidity support, income tax relief, GST cuts, and state level direct benefit transfers that boosted consumption.The episode also connects India to the global story. US AI investment boom, trade tensions and tariffs, capital outflows, rupee depreciation, and why markets can stay volatile even when the macro picture looks solid.Key topics include India GDP growth 2025, CPI inflation, food inflation, deflation signals, RBI repo rate, monetary policy transmission, forex reserves, current account deficit, services exports, GCC expansion, data centre investment, private capex, and what to expect from Budget 2026 and fiscal policy.If you work in finance, consulting, business, startups, or strategy, this is a clear guide to what these macro shifts mean for demand, hiring, and investing in 2026.Stay with The Core Report for calm, data driven conversations on India’s economy that help you think clearer in uncertain times.#IndiaEconomy #Inflation #GDP #RBI #TheCoreReport #TheCore
How India Is De-Risking Oil Exploration One Well At A Time is the focus of this in-depth conversation on The Core Report with Govindraj Ethiraj. As India looks to secure its energy future, this episode explores how ONGC is changing the way it approaches oil exploration, reducing risk one well at a time while navigating geopolitics, technology shifts, and rising energy demand.In this discussion, Financial Journalist Govindraj Ethiraj speaks with Arun Kumar Singh, Chairman & CEO, ONGC, about how India is de-risking oil exploration through deep water and ultra-deep water drilling, global collaboration, and advanced digital and AI-driven seismic analysis. The conversation explains why India’s biggest oil discoveries, if they come, are likely offshore and why patience, data, and repeated drilling matter more than quick wins.We look at how oil exploration economics have changed, why a single ultra-deep water well can cost many times more than traditional drilling, and how India is balancing risk, cost, and technology to improve success rates. The episode also unpacks how global oil markets, crude prices, geopolitics, and deglobalisation are shaping India’s energy strategy and why domestic exploration has become even more critical.This episode of The Core Report also dives into India’s broader energy transition, including renewables, solar power, energy storage, and why oil and gas will continue to play a central role in India’s growth story for decades. From AI in drilling decisions to building global capability centres and attracting young engineering talent, this is a rare inside look at how India is de-risking oil exploration one well at a time.If you follow business news, world news, energy policy, or the future of India’s economy, this conversation offers clarity on how oil exploration, technology, and energy security intersect at a crucial moment.Subscribe for more deep-dive conversations on business, energy, markets, and policyShare this episode with anyone tracking India’s energy futureComment with your view on how India should balance oil exploration and renewables#OilExploration #IndiaEnergy #ONGC #EnergySecurity #TheCoreReport
On Episode 759 of The Core Report, financial journalist Govindraj Ethiraj talks to Saurav Ghosh, co-founder of Jiraaf as well as Amit Prothi, Director General at the CDRI.SHOW NOTES(00:00) Stories of the Day(01:48) Markets have thinned out now as traders take a break(05:10) Copper joins the party, hits all time highs along with gold and silver(07:05) How the dollar is heading for its weakest annual performance in eight years(08:27) Why investing in disaster resilience is critical to economic growth(23:55) The big trends from retail bond markets in 2025 for 2026Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 758 of The Core Report, financial journalist Govindraj Ethiraj talks to Sandip Agarwal, Fund manager at Sowilo Investment Managers LLP as well as Parizad Sirwalla, Partner and National Head – Tax, Global Mobility Services, KPMG in India.SHOW NOTES(00:00) Stories of the Day(01:09) The markets are up as FIIs step in for some late or early buying(11:28) Why an appreciating Thai Baht should concern us all(13:16) The surprise market that beat Wall Street in 2025(14:10) Geopolitical tensions drive up oil and gold prices(17:09) India-New Zealand sign third FTA for India this yearRegister for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 757 of The Core Report, financial journalist Govindraj Ethiraj talks to Ranjit Rath, Chairman & Managing Director, Oil India Limited (in an excerpt from our recent Energy Special) as well as Shankkar Aiyar, veteran economic journalist, columnist and author.SHOW NOTES(00:00) The Take(05:38) Financial stocks are doing well in a sign that markets will do well(08:13) India joins the race for critical minerals with oil giants leading it(19:48) India opens up visas for Chinese even as the US launches unexpected crackdown on H1B workers(21:02) MNREGA, a dole in many ways, is now VB-G-RAM-G, what does it mean for workers in specific and the economy in generalRegister for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
How an Indian oil giant is leading the critical minerals race is now central to India’s energy security and industrial future. In this Core Report Energy Special 2026, Financial Journalist Govindraj Ethiraj speaks with Ranjit Rath, Chairman & Managing Director, Oil India Limited on why critical minerals like graphite, vanadium, potash, and rare earths are becoming strategic for India and how Oil India is positioning itself in the global critical minerals race ahead of India Energy Week 2026.This conversation explains how Oil India is expanding beyond oil and gas into critical minerals exploration under the National Critical Mineral Mission, including domestic blocks in Arunachal Pradesh and Rajasthan and overseas partnerships across Australia, Latin America, and Africa. We also discuss why processing capacity matters as much as mining, how global supply chains are shifting, and what India must do to reduce import dependence in the EV, defence, fertiliser, and technology sectors.The episode also covers deep water and ultra deep water oil and gas exploration, new seismic imaging, AI and data driven exploration, and the reported natural gas occurrence in Andaman and Nicobar. You will hear updates on the Numaligarh Refinery expansion, major pipeline infrastructure, petrochemicals, and how Oil India is preparing to engage global partners and technology leaders at India Energy Week 2026.If you follow business news, energy markets, geopolitics, manufacturing, or supply chain strategy, this Core Report Energy Special 2026 connects critical minerals, oil and gas, and India’s long term energy transition in one conversation.In this episode1. Why critical minerals are vital for India’s energy security and industrial policy2. Graphite and vanadium exploration in Arunachal Pradesh and what vanadium is used for3. Potash mining in Rajasthan and its impact on fertiliser imports4. Rare earths, processing technology, and China’s dominance in supply chains5. Overseas critical minerals strategy with KABIL6. Deep water drilling, seismic re imaging, and AI in exploration7. Numaligarh Refinery expansion, pipelines, and downstream petrochemicals8. What Oil India plans to showcase at India Energy Week 2026Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateIf this conversation helped you understand how India is approaching the critical minerals race and energy security, like the video, subscribe to The Core Report, and share it with someone working in energy, consulting, manufacturing, finance, or policy. These discussions shape how India competes in the next decade.#criticalminerals #energysecurity #indiaenergyweek2026 #oilindia #thecorereport #thecore
On Episode 755 of The Core Report, financial journalist Govindraj Ethiraj talks to Manas Majumdar Partner and Leader Oil & Gas, Fuels & Resources, PwC India.SHOW NOTES(01:00) Shares drift down the fourth consecutive session(02:45) Rising apprehension over Oracle’s finances, a key player in the AI infra game(04:27) Sebi would like more women to invest in debt(05:06) 2026 is a busy year for Indian energy as more refineries go on stream, a demand outlook(15:45) India strengthens India’s economic and geopolitical presence at the mouth of the Gulf with Oman FTA(18:13) Let that sink in: The Indian telecom industry saw overall overall subscriber base reaching 1.2 billion by NovemberRegister for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 754 of The Core Report, financial journalist Govindraj Ethiraj talks to Biswapriya Bhattacharjee, Director, B2B and Technology- South Asia, Kantar as well as Connor Hill, Head of Circularity at Ingka Group.SHOW NOTES(01:00) Markets need two cues to turn around, they are not in sight(02:06) The rupee turns around after the RBI goes on attack mode(04:12) Let this sink in: Silver is up 128% this year(05:43) Geopolitical tensions center around Venezuela with US blockades, oil prices rise. The IEW Segment(08:43) There are over 300 million digital only consumers of media, what does that mean?(17:55) Youth world over want more recyclable materials, how are companies like IKEA responding to that?Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 753 of The Core Report, financial journalist Govindraj Ethiraj talks to Dr. Ajit Ranade, Economist and Former Vice Chancellor of Gokhale Institute of Politics and Economics in Pune.SHOW NOTES(01:00) Why the markets are caught in a perfect storm involving the rupee(06:23) Leading global crude indicators are pointing towards a fall in prices now. The IEW Segment(08:06) The paradox of high growth, low inflation and a falling currency(20:14) The US struggles with putting out critical macro data is a lesson for everyone(23:25) Ford slams reverse gear on EVs globally, are there lessons for India?(26:50) After Australia, Malaysia will have controls on children’s access to social mediaRegister for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateGUEST'S RECOMMENDED READINGAjit Ranade’s SelectionThe Undying Light by Gopalkrishna GandhiGolwalkar by Dhirendra JhaApple in China by Patrick McGeeFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 752 of The Core Report, financial journalist Govindraj Ethiraj talks to Ajay Srivastava, Founder of the Global Trade Research Initiative (GTRI) as well as Ajay Kedia, Director, Kedia Advisory.SHOW NOTES(01:57) The markets slip further on weakening cues and outflows.(02:26) The rupee hits fresh lows on absence of trade deal.(05:49) Why is Mexico hitting India with tariffs and a look at Indian exports 10-month high.(14:08) Copper prices are hitting records as metal traders shift focus, assessing the impact.(19:57) And the nuts and bolts of how GCCs are coming up in India.Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateGUEST’S RECOMMENDED READING 2025Ajay Srivastava’s selection Bahubali 63 insights into Jainism by Devdutt PatnaikThe Great Disruption by Srividya JandhyalaUrdu Shabdo ka Guldasta by Anjara NaqviAjay Kedia’s selection Minimal: How to Simplify Your Life and Live Sustainably by Madeleine Olivia: For more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 751 of The Core Report, financial journalist Govindraj Ethiraj talks to Pranav Haldea, Managing Director at Prime Database and Sanjaya Mariwala, Executive Chairman and Managing Director at OmniActive Health Technologies.SHOW NOTES(00:00) Stories Of The Day(00:20) The Take(05:11) New Industries Opening Up Are A Trigger For Long Term Markets.(10:00) Companies That Have Done Massive Offer For Sales With Promoters And Investor Selling Have Performed Better Than You Think.(19:49) Oil Production In America’s Permian Basin, Its Bedrock Of Shale, Will Peak In December But Will Hold For Some Time.(21:32) A Company Has To Meet Over 8,000 Compliances In India And The Same Company’s Plant In The US Has…Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
In this episode of The Core Report weekend edition, financial journalist Govindraj Ethiraj examines the IndiGo meltdown that disrupted Indian aviation, led to widespread flight cancellations, and exposed deeper fault lines in airline safety, regulation, and passenger protection.The discussion brings together Dr Vandana Singh, Chairperson, Aviation Cargo, Federation of Aviation Industry (India) (FAII), Captain Anil Rao, General Secretary, Airline Pilots' Association India and Sanjay Lazar, Aviation expert & CEO, AVIALAZ CONSULTANTS to analyse why pilot fatigue rules were not implemented on time, how regulatory oversight failed, and what the crisis reveals about market dominance, airline profitability, and the risks of aggressive expansion.As IndiGo holds a majority share of India’s domestic aviation market, the episode explains why one airline’s disruption can quickly turn into a national mobility crisis. The conversation also looks at passenger rights, DGCA accountability, exemptions to Flight Duty Time Limit rules, and whether India’s aviation system is equipped to handle rapid growth without compromising safety.This episode goes beyond breaking news to offer clear lessons for airlines, regulators, and travellers, and what must change to restore trust in Indian aviation.Subscribe to The Core for sharp business journalism on policy, infrastructure, technology, manufacturing, and the forces shaping India’s economy.
On Episode 749 of The Core Report, financial journalist Govindraj Ethiraj talks to Vinish Bawa, Partner and Leader at Telecom PwC India and Karan Taurani, Executive VP at Elara Capital for Media, Retail, Consumer Discretionary and Internet.SHOW NOTES(00:00) Stories Of The Day(02:03) Federal Reserve Rate Cuts Cheer Markets (04:09) The Rupee Hits A Fresh Low(07:16) Investors Are Looking At Global Energy Stocks As They Look Beyond AI(08:46) What Is Driving The Latest Stampede For Setting Up Data Centres In India By The Hyperscalers.(16:41) Why Are Netflix And Paramount Fighting For Warner Bros And What It Means For India?Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 748 of The Core Report, financial journalist Govindraj Ethiraj talks to Garima Kapoor, Chief Economist at Elara Securities and Dr. Vandana Singh, Chairperson, at Aviation Cargo Federation of Aviation Industry in India (FAII).SHOW NOTES(00:00) Stories Of The Day(00:18) The Take(03:44) Markets Slide Further As Fresh Set Of Bullish Brokerage Calls Arrive(09:59) India Is Seeing Unprecedented Crop Price Deflation, Decoding The Impact(21:43) Indigo Will Have To Cut 10% Of Its Capacity, What Does That Mean For The Industry And Passengers At Peak Travel Time?(31:30) Australia’s Move To Ban Social Media To Teenagers Below 16 Years Starts, With Some Learnings.Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 747 of The Core Report, financial journalist Govindraj Ethiraj talks to Ajay Bhalotia, General Secretary at All India Rice Exporters Association (AIREA) and Sumit Singhania, Partner at Deloitte India.SHOW NOTES(00:00) Stories Of The Day(01:02) Markets Slip Again As Santa Rally Hopes Fade(05:18) Oil Prices Are On Standby As Ukraine-Russia Talks Falter.(06:53) Indigo Says Operations Are Back To Normal.(08:28) Fresh Tariff Threats, This Time On Rice, Decoding The Impact.(14:06) Telangana Is Pulling Non Data Centre Investments As Well.(15:20) How Big Tax Firms Are Racing To Save Your Time With Customised Llm Solutions.Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 746 of The Core Report, financial journalist Govindraj Ethiraj talks to Gautami Gavankar , President Banking Solutions at Kotak Mahindra Bank Limited and Sheetal Sapale, Vice President at Pharmarack.SHOW NOTES(00:00) Stories Of The Day(01:20) Unrelenting FPI Outflows(03:29) China’s Big Export Push Is Visibly Moving From The Us To Other Countries Including India.(08:12) Why Buying Jewellery As An Investment Is Not The Best Of Ideas.(09:43) How Worsening Aqi Levels Has Meant Record Sales Of Anti Asthma And Other Respiratory Drugs.(15:37) Why Succession Planning Is Important In India’s Family Owned Businesses, For Inheritors And Shareholders.(24:31) How Harvard Is Investing Your School Fees In Bitcoin And Losing It.Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
On Episode 745 of The Core Report, financial journalist Govindraj Ethiraj talks to Dharmakirti Joshi, Chief Economist at Crisil. SHOW NOTES(00:10) The Take(06:04) The Markets Recover On A Rate Cut and Why The Markets Divergence Is Growing Wider.(10:22) India Will Slow Down On Coal Power Plants, IEW Segment.(12:06) What The Latest Rate Cut Means For The Economy ?(22:13) Will A Netflix Acquisition Of Warner Sail Through ? Streaming Now.Register for India Energy Week 2026https://www.indiaenergyweek.com/forms/register-as-a-delegateFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter |Instagram |Facebook |Linkedin |Youtube
India is sending more students abroad even as visa rules tighten and costs rise. So why are so many young Indians still choosing foreign universities over campuses at home. And what will it take to build Indian institutions that can truly compete globally and serve our demographic dividend.In this episode of The Core Report Weekend Edition, Govindraj Ethiraj sits down with Pramath Raj Sinha, founder and trustee at Ashoka University and founding dean of the Indian School of Business, to unpack the hard truths about higher education in India. From the demand supply gap to the campus experience to academic freedom and funding, this conversation looks at institution building with the same seriousness that business families bring to succession and long term planning.You will hear about:a) Why visas for Indian students have tightened and what that means for study abroad plans?b) How India’s demographic boom creates enormous pressure on universities and policymakers?c) Why even an average foreign community college can often offer a better student experience?d) What Ashoka and ISB tried to do differently in curriculum, faculty and governance?e) How to balance academic freedom with institutional survival and brand risk?f) Why quality in education is so hard to scale and why many private universities lose steam?g) What it really takes to build an 8 to 10 thousand student world class university in India?For India based professionals who track business, policy, world news and long term growth, this episode offers a rare inside view of how universities are designed, funded and governed. It speaks to anyone interested in Indian higher education, liberal arts, global talent flows, institution building, philanthropy and the future of Indian students who might otherwise choose the US, UK, Canada, Europe or China.If you care about Indian growth, talent, opportunity and the next generation, this conversation is worth your time.#IndiaEducation #IndianUniversities #StudyAbroad #TheCoreReport #AshokaUniversity
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