TMS Ep571: Local job quotas, Gaza, China, exchange-related stocks, Pannun

This is a sticky subject that pits industry against politicians. While industry leaders prefer merit, politicians want to ensure what they call “social justice”. Last Friday, Congress released its manifesto in poll-bound Telangana and promised 75% quota for locals in private jobs. But just hours later, a High Court nixed a similar law which was invoked by ruling BJP in Haryana. So are local job quotas the right way to go? 

Let us now move on to another sticky subject: the ongoing clash between Israel and Hamas. It has cast a dark shadow over the ambitious India-Middle East-Europe Economic Corridor. Business Standard’s Bhaswar Kumar caught up with former foreign Secretary Shyam Saran to know his take on it. Saran also spoke at length about other issues which have a bearing on India, like the recent talks between US President Joe Biden and Chinese leader Xi Jinping. The seasoned diplomat also gave insight on developments in the Maldives, Bangladesh and Pakistan. 

India’s bullish financial markets also reflect the country’s growing might. Shares of market intermediaries like BSE, CDSL and CAMS have posted massive gains this year led by a swift market rally. Naturally, the questions on investors’ minds are if there is more upside in these stocks or is it time to book profits. 

Softer than expected inflation data in the United States has also lifted market spirits. But a recent news from the US has triggered a row here. Its authorities have claimed to have foiled a bid to kill Gurpatwant Singh Pannun. India considers him a terrorist. Listen to this episode of the podcast for more.