Ajay Shah

Who's afraid of IPO market? Policymakers should only worry about disclosure

Despite weak listing gains and rising anger among retail investors, long-term data shows the IPO pipeline is healthier than ever, and heavy-handed regulation would do more harm than good

Early data shows strong resilience of Indian exports to Trump tariffs

To understand the impact of any shock, we must first measure the system correctly. Aggregate export figures have noisy components

As US cuts funding, India must do more to attract scientific researchers

As the US dismantles its basic research engine, it creates a global crisis and a singular opportunity for India

India must seize strategic geopolitical opening US-China face-off offers

Amid US-China trade tensions and economic vulnerabilities, India must seize the "China +1" opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth

GST without a seamless input tax credit system fails its core principles

We are losing touch with the soul of the indirect tax

Short-date options provide opportunity for resilient financial systems

The debate is being framed incorrectly as a tradeoff between speculation and investor protection

Heading into China's corner will dilute India's democratic dividend

With American President Donald Trump's tantrums, some in India are ready to rethink the China relationship

Building a better GST: New reforms mark progress, but more is needed

The call for a single rate correctly identifies this multiplicity as a central problem

India needs to take a comprehensive stance against increasing digital fraud

State action overhaul: Three policy suggestions

Mumbai's trillion-dollar realty faces real climate risk, not a distant threat

With seas rising and drainage failing, Mumbai's property market is heading for a climate reckoning that few investors or policymakers are truly prepared for

Choking China+1? Chinese govt actions against Apple, Foxconn won't deliver

The Chinese elite has traditionally had a lofty disdain for India. You could argue that being five times bigger is a vast degree of superiority

The essence of great leadership: Rising above pride and nationalism

By doing this, we sign on to the interests of the regime. There is a small matter of the interests of the people

An opening for Indian gains as many aspects of macro policy are clarifying

The recent moves by the monetary policy committee, of cutting rates, are in the right direction, and should be seen in the larger context of macro policy

Regulating payments better: Improvements in governance within RBI will help

At an organisation like the RBI, the prestigious and powerful activities are monetary policy and banking. Bank deposits in India are about ₹220 trillion

Improving govt buying: Foreign companies join in, but hurdles remain

Government procurement is, at its core, about expenditure efficiency

We need to talk about China as global economic tensions remain high

Chinese govt made important mistakes during pandemic. It chose to support Russia in its invasion of Ukraine in 2022. Embracing nationalism, it chose hostile behaviour against India in 2017 and 2020

A new Plaza Accord? Dollar's depreciation now needs no global agreement

Trump-era whispers of a 'Mar-a-Lago Accord' echo the 1985 Plaza Accord, but global realities, shifting alliances and a weaker dollar complicate any such grand bargain

Liberation day: How should Indian firms and policymakers respond?

Firms in India tend to be highly connected into the US economy through elite human networks

A dark phase for CO2 control? The crisis is severe, but improvement likely

How should we make sense of this situation? What is the path ahead? Are we headed for a runaway climate change dystopia or can we do better?

Blow hot or blow cold? Trusted indicators give conflicting signals

How could we find our way out of this gloom to a happier scenario?