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14min chapter
Ep 402: Ajay Shah Brings the Dreams of the 20th Century
The Seen and the Unseen - hosted by Amit Varma
Revolutionizing India's Stock Markets
This chapter explores the critical evolution of the Bombay Stock Exchange (BSE) and the rise of the National Stock Exchange (NSE), highlighting reforms needed to tackle past failures. It discusses how the NSE implemented innovative governance structures and technological advancements to create a fair trading environment and the successful development of the Nifty Index. The chapter emphasizes the transformative impact these changes had on the Indian market landscape and the principles of transparency and integrity behind the innovations.
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Episode notes
He's a polymath who cares deeply about the world, tries to understand it, and straddles many fields. He's played a key role over the last few decades in India's journey towards development. Ajay Shah joins Amit Varma in episode 402 of The Seen and the Unseen to talk about his life and times. (FOR FULL LINKED SHOW NOTES, GO TO SEENUNSEEN.IN.) Also check out: 1. Ajay Shah on Twitter and Substack. 2. Everything is Everything -- Ajay Shah's YouTube show with Amit Varma. 3. Life Lessons -- A course taught by Ajay Shah and Amit Varma. 4. In Service of the Republic: The Art and Science of Economic Policy — Vijay Kelkar and Ajay Shah. 5. XKDR Forum. 6. The LEAP blog. 7. Previous episodes of The Seen and the Unseen with Ajay Shah: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13. 8. The Surface Area of Serendipity -- Episode 39 of Everything is Everything. 9. The Economic Lives of the Poor -- Abhijit Banerjee and Esther Duflo. 10. The Universe of Chuck Gopal — Episode 258 of The Seen and the Unseen. 11. The Hiking Episode -- Episode 35 of Everything is Everything. 12. Declutter -- Episode 30 of Everything is Everything. 13. The Life and Times of Mrinal Pande — Episode 263 of The Seen and the Unseen. 14. Pushpesh Pant Feasts on the Buffet of Life — Episode 326 of The Seen and the Unseen. 15. The Life and Times of Ira Pande -- Episode 369 of The Seen and the Unseen. 16. A Meditation on Form -- Amit Varma. 17. A Passion for Cycling -- Episode 53 of Everything is Everything. 18. Il Lombardia: Tadej Pogačar delivers historical fourth consecutive victory. 19. Centre for Monitoring Indian Economy. 20. Seven Stories That Should Be Films -- Episode 23 of Everything is Everything (including Ajay's retelling, 'The Fat Frogs of Tatsinskaya'). 21. India’s Greatest Civil Servant — Episode 167 of The Seen and the Unseen (w Narayani Basu, on VP Menon). 22. VP Menon: The Unsung Architect of Modern India — Narayani Basu. 23. Five Epic Stories That Must Be Films -- Episode 29 of Everything is Everything (including Amit's retelling of VP Menon's story). 24. Postwar: A History of Europe Since 1945 — Tony Judt. 25. The God That Failed -- Edited by Richard Crossman. 26. One Day in the Life of Ivan Denisovich -- Aleksandr Solzhenitsyn. 27. Free to Choose -- Milton Friedman and Rose Friedman. 28. Both Sides Now -- Joni Mitchell. 29. How to Write a Paper -- Episode 62 of Everything is Everything. 30. Jim Corbett on Wikipedia and Amazon. 31. Trek The Sahyadris -- Harish Kapadia. 32. Inflation Targeting Rocks! -- Episode 68 of The Seen and the Unseen. 33. The Heckman Equation. 34. A Deep Dive Into Education -- Episode 54 of Everything is Everything. 35. The Two Cultures -- CP Snow. 36. Shivaji and His Times -- Jadunath Sarkar. 37. Suyash Rai Embraces India’s Complexity — Episode 307 of The Seen and the Unseen. 38. Seeing Like a State — James C Scott. 39. The Tyranny of Experts — William Easterly. 40. Are You Just One Version of Yourself? -- Episode 3 of Everything is Everything. 41. Episodes of The Seen and the Unseen with Ramachandra Guha: 1, 2, 3, 4, 5, 6. 42. The Life and Times of KP Krishnan — Episode 355 of The Seen and the Unseen. 43. Our Population Is Our Greatest Asset -- Episode 20 of Everything if Everything. 44. Population Is Not a Problem, but Our Greatest Strength -- Amit Varma. 45. Plato (or Why Philosophy Matters) — Episode 109 of The Seen and the Unseen (w Rebecca Goldstein). 46. How to Do Development -- Episode 57 of Everything is Everything. 47. Lant Pritchett Is on Team Prosperity — Episode 379 of The Seen and the Unseen. 48. The Life and Times of Chess -- Episode 52 of Everything is Everything. 49. Fixing the Knowledge Society -- Episode 24 of Everything is Everything. 50. The Importance of the 1991 Reforms — Episode 237 of The Seen and the Unseen (w Shruti Rajagopalan and Ajay Shah). 51. The Reformers -- Episode 28 of Everything is Everything. 52. The Beauty of Finance -- Episode 21 of Everything is Everything. 53. What's Wrong With Indian Agriculture? -- Episode 18 of Everything is Everything. 54. The Life and Times of Montek Singh Ahluwalia — Episode 285 of The Seen and the Unseen. 55. The Importance of Finance — Episode 125 of The Seen and the Unseen (w Ajay Shah). 56. India in Transition: Freeing the Economy -- Jagdish Bhagwati. 57. The UNIX Episode -- Episode 32 of Everything is Everything. 58. Don't Mess With the Price System -- Episode 66 of Everything is Everything. 59. Four Papers That Changed the World -- Episode 41 of Everything is Everything. 60. The Ghost and the Darkness -- Stephen Hopkins. 61. India’s Massive Pensions Crisis — Episode 347 of The Seen and the Unseen (w Ajay Shah & Renuka Sane). 62. Understanding India's Pensions Disaster -- Episode 65 of Everything is Everything. 63. What Bruce Springsteen Means to Us -- Episode 13 of Everything is Everything. 64. Distance From Delhi -- The Takshashila Institution. 65. Beyond A Boundary -- CLR James. 66. Letters for a Nation: From Jawaharlal Nehru to His Chief Ministers 1947-1963 -- Jawaharlal Nehru. 67. Yes Minister and Yes Prime Minister — Jonathan Lynn and Antony Jay. 68. The Long Road to Change -- Episode 36 of Everything is Everything. 69. The Tragedy of Our Farm Bills — Episode 211 of The Seen and the Unseen (w Ajay Shah). 70. Government's End: Why Washington Stopped Working -- Jonathan Rauch. 71. Understanding deviations from the fiscal responsibility law in India -- Pratik Datta, Radhika Pandey, Ila Patnaik and Ajay Shah. 72. Who Lends to the Indian State? -- Aneesha Chitgupi, Ajay Shah, Manish Singh, Susan Thomas and Harsh Vardhan. 73. The Percy Mistry report. 74. Bare Acts. 75. Subhashish Bhadra on Our Dysfunctional State — Episode 333 of The Seen and the Unseen. 76. Shruti Rajagopalan on our constitutional amendments. 77. The First Assault on Our Constitution — Episode 194 of The Seen and the Unseen (w Tripurdaman Singh). 78. Sixteen Stormy Days — Tripurdaman Singh. 79. Caged Tiger: How Too Much Government Is Holding Indians Back — Subhashish Bhadra. 80. Subhashish Bhadra on Our Dysfunctional State — Episode 333 of The Seen and the Unseen. 81. The Matrix -- Lana Wachowski & Lilly Wachowski. 82. How Family Firms Evolve -- Episode 34 of Everything is Everything. 83. From Imperial to Adaptive Firms -- Episode 37 of Everything is Everything. 84. Graduating to Globalisation -- Episode 48 of Everything is Everything. 85. Jeff Bezos on The Lex Fridman Podcast. 86. Born to Run -- Bruce Springsteen. 87. Go to the root cause (2007) -- Ajay Shah. 88. Bhargavi Zaveri-Shah Will Not Wear a Blue Tie to Work — Episode 389 of The Seen and the Unseen. 89. Understanding the State -- Episode 25 of Everything is Everything. 90. Every Act of Government Is an Act of Violence -- Amit Varma. 91. When Should the State Act? -- Episode 26 of Everything is Everything. 92. Public Choice Theory Explains SO MUCH -- Episode 33 of Everything is Everything. 93. Public Choice – A Primer -- Eamonn Butler. 94. The Journey of Indian Finance -- Ajay Shah. 95. Amrita Agarwal Wants to Solve Healthcare -- Episode 393 of The Seen and the Unseen. 96. Fortress and Frontier in American Health Care -- Robert Graboyes. 97. We Love Vaccines! We Love Freedom! -- Episode 27 of Everything is Everything. 98. The Art and Science of Economic Policy — Episode 154 of The Seen and the Unseen (w Vijay Kelkar & Ajay Shah). 99. Pranay Kotasthane on Amazon. 100. A blog post is a very long and complex search query to find fascinating people and make them route interesting stuff to your inbox -- Henrik Karlsson. 101. For Whom the Bell Tolls -- Ernest Hemingway. 102. Essays in Persuasion -- John Maynard Keynes. 103. The Ascent Of Man -- Jacob Bronowski. 104. How to Modernise the Working of Courts and Tribunals in India -- Many authors including Ajay Shah. 105. How to Modernise the Working of Courts and Tribunals in India -- Ajay Shah. 106. The lowest hanging fruit on the coconut tree — Akshay Jaitly and Ajay Shah. 107. Climate Change and Our Power Sector — Episode 278 of The Seen and the Unseen (w Akshay Jaitley and Ajay Shah). 108. The Brave New Future of Electricity -- Episode 40 of Everything is Everything. 109. False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet -- Bjorn Lomborg. 110. Stay Away From Luxury Beliefs -- Episode 46 of Everything is Everything. 111. Nuclear Power Can Save the World -- Joshua S Goldstein, Staffan A Qvist & Steven Pinker. 112. But Clouds Got In My Way -- Ayush Patnaik, Ajay Shah, Anshul Tayal and Susan Thomas. 113. Everybody Lies — Seth Stephens-Davidowitz. 114. The Truth About Ourselves — Amit Varma. 115. Capitalism and Freedom -- Milton Friedman. 116. Against the Grain -- James C Scott. 117. The Beatles, Dire Straits, Pink Floyd, Led Zeppelin and Bruce Springsteen on Spotify. Amit Varma and Ajay Shah have launched a new course called Life Lessons, which aims to be a launchpad towards learning essential life skills all of you need. For more details, and to sign up, click here. Amit and Ajay also bring out a weekly YouTube show, Everything is Everything. Have you watched it yet? You must! And have you read Amit’s newsletter? Subscribe right away to The India Uncut Newsletter! It’s free! Also check out Amit’s online course, The Art of Clear Writing. Episode art: ‘Dreaming’ by Simahina.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode