#India-Pak Tensions | War, Nuclear Capabilities & Market Vulnerabilities: A Warning Sign For The

In this episode, G Chokkalingam, Founder and Managing Director of Equinomics Research, shares his deep concerns about the market's current complacency in the face of rising geopolitical tensions. Reflecting on the last major war India experienced in 1971, he highlights how vastly different today’s landscape is—with India now being a nuclear power, a population that has multiplied significantly, and a market capitalisation that has grown from under ₹1 lakh crore to several hundred times that. Despite these structural shifts, the markets have not shown signs of pricing in the real risk of a modern conflict. Chokkalingam warns that if such a situation were to escalate, the consequences could be far more severe than what investors currently anticipate. He urges caution and vigilance, noting that while current market declines are notable, they may not fully reflect the gravity of what could unfold.