The Morning Brief

Nilanjan Banik, a Professor of Economics and Finance at Mahindra University, joins Anirban Chowdhury to discuss the implications of Trump's latest tariffs affecting India. They dive into how these tariffs could disrupt India's booming exports in tech, pharmaceuticals, and textiles. The conversation explores the potential retaliatory actions from India and the broader impact on U.S.-India economic relations. They also touch upon the possible legal ramifications under WTO regulations and question whether Trump's tariff strategy can truly benefit American manufacturing.

Keith Svendsen, CEO of APM Terminals, and Christopher Cook, Managing Director for India, Bangladesh, and Sri Lanka at Maersk, dive into the company's ambitious $5 billion investment in India. They discuss the transformation of port operations and Maersk's evolving role in global trade. Insightful topics include the launch of the innovative Gemini network, enhancing shipping capacity, and India's shipbuilding advancements at Alang Shipyard. The conversation also touches on adapting to global shipping challenges and future growth strategies.

Tata Play and Airtel Digital TV are merging their DTH businesses, creating a massive subscriber pool of 35 million. This strategic move is seen as a response to the decline of traditional TV viewership amid rising streaming. The hosts discuss how this partnership may reshape the media landscape in India. Additionally, they explore the historical context of the merger and its implications for both companies’ future, including Tata's media ambitions and Airtel's plans to broaden its service offerings.

Dr. S.K. Manjul, an archaeologist leading the Rakhigarhi excavations, delves into the remarkable discoveries of this ancient Harappan city. He discusses the mud-brick stadium predating similar structures in Rome and Greece, shedding light on communal rituals from the era. Despite its significance, Rakhigarhi faces preservation challenges—fragile ruins lie beneath tarpaulin, and there’s a lack of proper museums or viewing decks. The conversation highlights the ongoing efforts to turn it into a tourist destination and the urgent need for conservation.

Dia Rekhi, an ET journalist with deep insights into Tesla's negotiations, discusses the fierce competition among Indian states to attract Elon Musk's electric vehicle giant. She highlights Andhra Pradesh's strategic incentives, from land deals to tax benefits, aimed at enticing Tesla amid a challenging EV landscape. The conversation delves into the implications for job creation and the existing Indian auto industry. Rekhi also examines the geopolitical aspects and the unpredictable nature of Musk's decisions regarding Tesla's Indian adventure.

Sean (Hyunil) Sohn, CEO of Krafton India, shares insights into the booming Indian gaming market driven by millions of players and a vibrant esports culture. He discusses the intricate regulatory landscape that Krafton has navigated, especially with popular games like PUBG. Sohn highlights a significant $160 million investment in local startups and the role of artificial intelligence in game development. As cloud gaming rises, he envisions a dynamic future for gaming in India, shaped by innovation and increasing player engagement.

Sameer Nair, a veteran media executive known for transforming Indian television, teams up with Vikramaditya Motwane, celebrated Bollywood auteur behind hits like Sacred Games. They explore the evolution of entertainment from state-run TV to streaming platforms and discuss the adaptation of 'Black Warrant,' blending history with storytelling. Motwane and Nair deliberate on the future of indie filmmaking and the importance of capital in supporting creative ventures, with a hopeful outlook for the Indian entertainment industry in 2025.

Umang Vohra, the Global CEO and Managing Director of Cipla, speaks about the company's transformational journey from its altruistic roots to a more profit-driven model. He shares insights on navigating the challenges of global pharma, including regulatory pressures and the rise of AI in drug discovery. Vohra discusses Cipla's groundbreaking innovations in obesity and diabetes management and reflects on the ethical dilemmas in weight loss treatments. He emphasizes the need for a supportive ecosystem for continued innovation while maintaining a purpose-driven approach to global health.

David S. Waddell, CEO and Chief Investment Strategist at Waddell & Associates, brings his expertise in macroeconomic forecasting to discuss the global economic shifts spurred by the Trump administration. He delves into how tariff wars impact emerging markets, particularly India, while analyzing AI’s potential to reshape productivity. Waddell remains optimistic about India’s growth story and offers insights into why certain economic indicators hold promise amid uncertainty. His perspectives on investment opportunities in India are both enlightening and thought-provoking.

Nishanth Vasudevan, ET’s markets editor, dives into the turmoil of India's stock market, which is facing its longest slump in years. He discusses the mass exodus of foreign investors and the significant decline in small- and mid-cap stocks. Nishanth also examines the reasons behind the record sell-off, including weak corporate earnings and global economic pressures. Is this downturn just a temporary blip or the start of a deeper decline? Tune in for insights on navigating current stock valuations and potential recovery strategies.