An article on the eve of August 12, the day when Trump tariffs come into force against dozens of countries, including China. Introduction When Trump announced – the so-called “Liberation Day” tariffs – on April 2, 2025, during a White House Rose Garden address, he framed it as an act of economic nationalism. The accompanying […]
I decided to publish this piece on Alka’s birthday, July 8, a day that made me reflect on where we’ve come from as a nation, and where we’re headed. I found myself revisiting the question that is often echoed in political speeches and casual conversations alike: Will India become a dominant global power in the
The Rise and Fall of Nations: A Two-Century Story Told Through Numbers Read More »
A casual question about the Nirav Modi episode recently nudged me to revisit the notes I had compiled seven years ago—notes that captured the anatomy of the massive fraud unearthed at Punjab National Bank in January 2018. I had used this case extensively in my corporate governance lectures as a telling example of governance failure
The Rise and Fall of Nirav Modi: Glamour & Greed Read More »
That morning, I was scheduled to catch an early flight from Ahmedabad to Kolkata. Around 5 a.m., I quietly pushed open the door to her bedroom downstairs. The room was dim, still, as if it too was holding its breath. She was asleep, lying motionless in the bed, the soft rhythm of her breathing the
On March 10, 2025, IndusInd Bank—a well-known private bank in India—made a shocking announcement. It had been quietly accumulating financial losses for years, and only now, under pressure from a new Reserve Bank of India (RBI) directive, was it telling the public. The total hit? Nearly Rs 1,960 crore in losses, and a significant fall
What Went Wrong at IndusInd Bank? Derivatives Accounting Mess and Insider Trading Read More »
On April 15, 2025, the Securities and Exchange Board of India (SEBI) issued a scathing interim order against Gensol Engineering Limited (GEL), alleging serious governance failures: diversion of company funds for personal gain, falsification of documents, misleading disclosures, manipulation of share prices, and a systemic breakdown of internal controls. These findings stem from an investigation
Gensol Engineering and the SEBI Order: A Wake-Up Call for Corporate Governance Read More »
As I sat in front of my desktop on the sweltering Saturday afternoon of April 19, the wanderlust within me refused to sit still. Though I was in Ahmedabad for just a handful of days, the thought of a short road trip started shimmering like a mirage. Bindu Sarovar—one of India’s five holiest lakes had
On April 2, President Trump announced sweeping tariffs on nearly 90 countries, claiming they were “Reciprocal Tariffs.” But as it turned out, the only thing they reciprocated was confusion. The rates bore no resemblance to the tariff these countries were charging on imports from USA. Instead, the tariff math seemed to follow a logic of
Unilateralism Unleashed: The Global Risk of U.S. Trade Policy Read More »
Ashis was a man of sharp intellect, yet what made him truly remarkable was his warmth, humility, and innate ability to put people at ease. He carried no arrogance despite his brilliance and no sharp edges despite his incisive mind. Whether in the intense world of academia or in the playful company of a child,
With Malice Towards None Read More »
We hadn’t noticed it while on the move, but the 475-kilometre journey had quietly drained the life from our limbs. As we settled into the languid rhythm of the village our aching muscles signalled a craving for relief. We spread ourselves on our backs on the inviting charpaees in Prabhu’s courtyard. Steaming cups of chai
Footloose in Sadakmalia Read More »
