Trump’s Effect on Indian Economy, Investment Opportunities & US vs India |Saurabh |FO454 Raj Shamani

Jan 6, 2026

Saurabh Mukherjea, an author and founder of Marcellus Investment Managers, shares his insights on the global economy and investment opportunities. He discusses how US policies impact India and the potential effects of a weaker rupee. Saurabh explores rising living costs and lifestyle borrowing among Gen Z, along with predictions about AI's impact on job markets by 2026. He also touches on shifts in taxation, the growth of women's sports, and the importance of diversifying investments globally. His foresight offers a compelling view of the future landscape.

02:26:38

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insights

INSIGHT

US Dominates Global Corporate Profits

America produces ~50–55% of global corporate profits and ~70% of market cap, concentrating economic power.
This concentration means global investors should seriously consider exposure outside India to capture disproportionate profit pools.

insights

INSIGHT

Scapegoating As Political Strategy

Political leaders use scapegoating to redirect mimetic desires and win popularity, per René Girard's theory.
Saurabh argues America's political class may target the Indian diaspora as an easy visible scapegoat for votes.

insights

INSIGHT

Political Risk For Indian Diaspora And FTA

If US politics shifts right, the Indian diaspora may face increased ostracization and policy pressure.
That dynamic reduces the chance of a favourable US–India FTA and could drive Indian talent abroad.

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Framework: 26 predictions for 2026

04:56 • 2min

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Why US power matters for global profits

06:51 • 4min

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Mimetic desire and scapegoating in politics

10:30 • 4min

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Why Indians become a political scapegoat in US

14:31 • 2min

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Midterms, ostracization, and talent flows

16:56 • 2min

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Trade talks and FTA realism with the US

18:39 • 7min

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Foreign exits, IPOs and rupee pressure

25:48 • 2min

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Rupee depreciation: winners and losers

27:31 • 4min

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Cost of living, borrowing and lifestyle loans

31:22 • 7min

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Housing decline and risky consumption borrowing

37:59 • 2min

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RBI easing and systemic stress

40:27 • 1min

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Tax cuts as political relief

41:48 • 3min

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Family offices and capital allocation abroad

44:40 • 1min

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AI substitution now, complementarity later

46:09 • 7min

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India as a gig hub for AI tasks

53:35 • 4min

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AI winners: chips, data centers, and users

57:31 • 3min

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Application companies will extract value

01:00:31 • 3min

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Education, storytelling and new roles

01:03:18 • 12min

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Alternative media and independent journalists

01:15:10 • 2min

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F&O restrictions to curb outflows

01:17:29 • 2min

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Rise of women's sports and endorsements

01:19:52 • 13min

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Chess, streaming and grassroots growth

01:33:20 • 7min

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Winter capital, Ahmedabad and 2036 Olympics

01:40:20 • 5min

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Census, delimitation and north–south politics

01:45:13 • 3min

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Narrative breakdown, scams and disillusionment

01:48:03 • 5min

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Shift from income to consumption taxation

01:52:50 • 4min

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Diversify globally: home bias questioned

01:56:45 • 12min

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Can AI-driven US growth sustain global demand?

02:09:00 • 4min

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Investing in small/mid global leaders

02:13:23 • 7min

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Precious metals stance: wait for fear to abate

• Mentioned in 2 episodes

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Peter Thiel

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Things Unknown Since the Beginning of the World

René Girard

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• Mentioned in 35 episodes

Wanting

The Power of Mimetic Desire in Everyday Life

Luke Burgis

In 'Wanting: The Power of Mimetic Desire in Everyday Life,' Luke Burgis delves into the concept of mimetic desire, which is the tendency to imitate the desires of others. Drawing on the work of René Girard, Burgis explains how our desires are mediated by models and how this can lead to rivalry, conflict, and unfulfilling pursuits. The book distinguishes between 'thin' desires, which are superficial and mimetic, and 'thick' desires, which are deeper and more lasting. Burgis provides tactics for identifying and transforming these desires, such as creating a hierarchy of values, finding sources of wisdom that withstand mimesis, and practicing empathy. The book aims to help readers gain control over their desires and find more meaning in their lives by making intentional choices rather than blindly following mimetic forces.

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Our goal is to provide information to help audience make informed choices. The media used in this video are solely for informational purposes and belongs to their respective owners.

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(00:00) – Intro
(04:57) – Raj Shamani x Saurabh Mukherjea begins
(08:24) – Mimetic desires
(15:21) – The Indian community as a scapegoat
(19:20) – China’s leverage
(25:27) – The rupee heading towards 100
(35:52) – Increase in Gen Z spending
(41:48) – Decrease in taxes
(46:07) – Impact of AI in 2026
(56:00) – Second-order beneficiary companies
(1:17:25) – Restrictions on F&O
(1:19:50) – Rise of women’s cricket
(1:34:23) – Samay Raina’s contribution to chess
(1:36:59) – Geography and sports
(1:40:15) – Pollution and politics
(1:44:12) – Hosting in an alcohol-prohibited state, census, and narratives
(1:52:51) – Earning money when everything is falling apart
(1:56:40) – Is the Indian economy dependent on the US?
(2:00:10) – The old narrative of India
(2:05:07) – Why does the US want India to become a scapegoat?
(2:08:01) – Double-digit growth and Elon Musk
(2:13:20) – Will big companies make profits?
(2:19:47) – Gold and silver
(2:24:51) – Closing thoughts
(2:24:54) – BTS
(2:25:47) – Outro

In today’s episode, we have Saurabh Mukherjea, Author and Founder of Marcellus Investment Managers, sharing clear and practical insights on money and what to expect in 2026. We talk about what’s happening in America, Trump’s role in global politics, and why India often ends up being blamed in bigger economic narratives. The conversation also covers the ups and downs of the Indian economy and what growth is actually real.

We further talk about pollution and politics, and how closely they are connected. These two forces are likely to shape policies, investments, and public decisions in 2026, making them important themes to watch.

Subscribe for more such conversations!

Follow Saurabh Mukherjea Here:

LinkedIn: https://www.linkedin.com/in/saurabh-mukherjea-36196b2/

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⁠⁠⁠⁠⁠⁠About Raj Shamani

Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.

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