256: Who’s Really Getting Ahead in India’s Economy? | Saurabh Mukherjea (Manager, Marcellus Invest)

In this episode of Bharatvaarta, Roshan talks to Saurabh Mukherjea for an in-depth discussion on India's economic prospects, the transformative impacts of political and economic policies over the last two decades, and the rising number of new DMAT accounts. They explore the key themes from Saurabh's book 'Behold the Leviathan', touching on India's macroeconomy, market investing strategies, and the socio-economic shifts impacting the nation. The conversation delves into the consequences of educational and healthcare investments, the disparity between the North and South, and the evolving entrepreneurial ecosystem. Additionally, they discuss the impact of digital public infrastructure and direct benefit transfer schemes, and the future challenges and growth potential of India's middle class. Saurabh also provides valuable investing insights, shares personal anecdotes, and reflects on the importance of adaptability in the rapidly changing economic landscape.

Topics:

00:00 Sneak Peak

00:51 Introduction

01:53 Capitalism vs. Socialism in 1947

03:01 The Impact of Education and Policy Choices

05:54 Digital Public Infrastructure and Political Vision

07:40 The Rise of Women and Non-Elite Entrepreneurs

11:14 Challenges and Opportunities in the Indian Economy

17:27 Direct Benefit Transfers and Welfarism

21:58 Formalization and Access to Credit

26:02 Economic Growth and Income Inequality

34:30 Challenges to India's growth

39:30 Lessons from China and the Role of AI

46:33 Policy Interventions and Future Growth

49:39 Employment Linked Incentives (ELI)

50:37 Role of Conglomerates in India's Economy

53:17 Rise of Challenger Companies

57:23 Investing in the Indian Market

01:09:10 Principles of investing

01:18:42 Personal Insights and Reflections