Ambassador Dr Mohan Kumar, Former Diplomat, explains why President Putin’s state visit to India is a moment of huge geopolitical significance. With the world shifting from a unipolar to a multipolar order, India is asserting its independent foreign policy despite Western sanctions on Russia and tensions with the United States. Key priorities include de-risking exports by expanding opportunities in Russia—particularly in garments, shrimps, textiles, and pharmaceuticals—while also strengthening defence ties with potential full technology transfer and joint production of cutting-edge systems. All eyes will be on the visit’s outcome document, India’s body language, and the reactions from Washington and Europe, especially on Ukraine’s mention in the joint statement.
Russian President Vladimir Putin begins a landmark two-day visit to India, his first since the Ukraine war began in 2022. Arriving in Delhi for the 23rd India–Russia Annual Summit, Putin will hold crucial talks with Prime Minister Narendra Modi on trade, defence, energy, healthcare, education, and cultural cooperation. Several major agreements are expected, even as India navigates with the US and the challenge of Trump-era tariffs and sanctions. Following a private dinner hosted by PM Modi, the visit carries significant economic and strategic stakes.Watch Siddharth Zarabi, Group Editor Business Today in conversation with Jayant Krishna, Senior Fellow, CSIS and Ambassador Dr Mohan Kumar, Former Diplomat as they break down the business and economic stakes of this historic visit.
Business Today's special coverage of Russian President Vladimir Putin’s visit to India, the India Today Group brings you a world exclusive interview with the Russian leader, offering rare insights into the evolving India–Russia relationship and the shifting global order. In this special broadcast, we decode the key diplomatic signals ahead of the Modi–Putin meeting, assess the strategic, business and geopolitical stakes, and analyse what this high-profile visit means for both nations. Catch Siddharth Zarabi, Group Editor, Business Today in conversation with Divesh Kumar, CEO of SafePharm (based in Moscow), and Manish Kumar, Vice Chairman of the Moscow Chamber of Commerce (Indian Commission), breaking down the implications for trade, defence, energy and global diplomacy.
The Indian Rupee has breached the 90 mark, triggering intense debate across markets and industries. Is this a warning sign or a strategic advantage for India’s economy? In this discussion, experts highlight that a falling rupee cuts both ways — exporters gain competitiveness while import costs rise. However, the movement is largely driven by market forces, and once the US agreement is finalized, a reversal or stabilization may follow. Despite currency pressure, India continues to shine with quarterly GDP growth crossing 8%, a milestone achieved by very few global economies today. Whether you’re an importer, exporter, investor, or market watcher, this breakdown reveals why the narrative isn’t just about decline — it’s about opportunity.
In this insightful discussion, we explore whether the recent GST-driven surge in demand is sustainable and what it means for India’s growth trajectory. With ₹2.4 lakh crore returned to consumers, sectors like automobiles are witnessing record sales and strong momentum. While growth levels may normalize after the festival surge, the overall trend is expected to remain significantly higher than previous years. The conversation also delves into the private capex debate - why corporate India has been slow to invest in new capacity and whether that cycle is about to turn. As capacity utilization rises and demand stabilizes, a new wave of private investment may finally be on the horizon, complementing the government’s capex push and strengthening India’s global competitiveness.
In an exclusive conversation, Anant Goenka, President of FICCI, highlights the significance of President Vladimir Putin’s state visit to India at a critical global geopolitical moment. Goenka underscores that India-Russia relations are time-tested, built on deep defense partnerships and decades of mutual support. While political ties are strong, he believes business potential remains vastly underutilized, with huge opportunities in pharma, IT, heavy engineering, and manufacturing. Goenka reveals that more than 100 Russian CEOs will accompany the delegation, meeting Indian industry leaders to explore new trade possibilities from both sides. He also indicates potential progress in labour and manpower exports to Russia, given Russia’s smaller workforce and large economy- an untapped opportunity that could reshape bilateral economic engagement.
Russian President Vladimir Putin’s India visit is set to strengthen longstanding strategic ties between New Delhi and Moscow. Leading a high-level government and business delegation, the agenda focuses on enhancing cooperation in defence, energy and trade, while also advancing a key logistics pact known as ‘RELOS’ aimed at improving military mobility between the two nations. Discussions are expected to include a mobility agreement addressing skilled workforce access and smoother trade movement, alongside several significant defence-sector announcements. To unpack the implications of this crucial diplomatic engagement, Manish Kumar, Vice Chairman of the Moscow Chamber of Commerce and Industry, joins Business Today’s Group Editor, Siddharth Zarabi, for an in-depth conversation.
India’s growth outlook remains strongly positive despite recent volatility, says Anant Goenka, President of RPG Group and FICCI (2023–24). Reflecting on the economic environment, he notes that the first half of the year was marked by high uncertainty, with sectors like gems & jewellery, garments, and marine exports impacted by U.S. tariff pressures. However, he confirms that a U.S.–India trade deal is nearly finalized, and once signed, the rupee may stabilize, offering relief to several industries. Goenka highlights significant progress from recent FTAs and expects the latest U.S. agreement to go beyond tariff matters. He emphasizes strengthening ties with Russia, with vast trade opportunities still unexplored. FICCI has recommended support measures for MSMEs, continued focus on ease of doing business, and further tax & GST relief, which already placed ₹2.4 lakh crore into consumers’ hands, boosting demand. He believes India is on track to become the factory of the world and urges the RBI to prioritize growth with a 25 bps rate cut. Overall, Goenka expects stronger economic expansion ahead.
India posted a stellar macro showing in Q2 FY26, with GDP rising 8.2% vs 7.8% QoQ, smashing estimates, while GVA came in strong at 8.1% versus 5.8% a year ago. Manufacturing surged 9.1% against 2.2% last year, and services expanded 9.2% versus 7.2%. Private consumption grew 7.9%, and gross fixed capital formation rose 7.3%, signalling resilient demand, though government consumption contracted 2.7%. Agriculture grew 3.5% and mining remained flat. For April–September, GDP increased 8.0% and nominal GDP 8.8%. The fiscal deficit touched 52.6% of the FY26 target by October, underscoring strong economic momentum. Watch Siddharth Zarabi, Group Editor, Business Today, break down these blockbuster GDP numbers in conversation with Radhika Rao, ED & Senior Economist, DBS Bank, Singapore; Siddhartha Sanyal, Chief Economist, Bandhan Bank; and Rumki Majumdar, Economist, Deloitte
As one of the world’s most respected business schools, the Indian Institute of Management Ahmedabad (IIMA) continues to shape leaders who navigate complexity with clarity. In an era of rapid technological change, global realignments, and shifting student aspirations, Business Today’s Group Editor Siddharth Zarabi speaks exclusively with Prof. Bharat Bhasker, Director of IIM Ahmedabad, on the evolving landscape of management education, technological transformation, and the institute’s global vision for the future.
As Samvat 2081 draws to a close, markets head into Diwali almost flat, With Sensex and Nifty up 0.1% each, while Bank Nifty gained 9%. Midcap and Smallcap indices fell 2% and 7.4%. Nifty Capital Markets surged 29%, Defence 18%, and PSU Banks 14%, while Media, IT, and Realty declined sharply. Top gainers included Eicher Motors, Bajaj Finance, BEL, and Maruti, while Trent, TCS, and Infosys led losers. Gold rose 55%, Silver 64%. Ahead Of Samvat 2082, Business Today TV brings an exclusive Diwali Special Market Masters with Rajeev Thakkar, CIO & Director PPFAS Mutual Fund in discussion with Siddharth Zarabi, Group Editor, Business Today. Tune in for insights on sectors, trends, and festive investment strategies
The landmark India–UK Free Trade Agreement (FTA) is being hailed as a “hugely important” breakthrough by British Prime Minister Keir Starmer, who is on his first official visit to India since taking office. The deal slashes tariffs on 90% of UK product lines, with average duties dropping from 15% to 3%, while the UK eliminates tariffs on 99% of Indian exports. Bilateral trade, currently at USD 56 billion, is projected to double by 2030, creating massive opportunities for sectors such as textiles, gems and jewellery, leather goods, agriculture, whisky, gin, aerospace, and luxury cars. Starmer, leading the UK’s largest-ever trade delegation to India, described the FTA as “not just a piece of paper, but a launchpad for growth,” as both nations gear up for a new era of economic partnership under ‘Vision 2035’. In this discussion, we decode what the deal means for businesses, jobs, and future trade ties with Sanjay Nayar (President, ASSOCHAM), Jayant Krishna (Senior Fellow, CSIS; former Group CEO, UKIBC), and Professor K. Vijayraghavan (Tata Institute of Fundamental Research).
Dr. Robyn Klingler-Vidra, co-author of Startup Capitalism, Associate Professor in Political Economy and Entrepreneurship at King’s College London and Vice Dean for Global Engagement in an exclusive chat with Siddharth Zarabi, Group Editor, Business Today, brings her expertise on East Asia’s innovation strategies to the discussion, comparing India’s startup ecosystem with models in Japan, Korea, China, and beyond. The conversation explores how India’s entrepreneurial boom, fueled by Startup India and digital infrastructure, stacks up globally, and whether it can drive long-term economic growth. From Shark Tank India to China’s 996 and 007 work cultures, and from the role of government policy to lessons in AI and semiconductors, Dr. Vidra provides sharp, global perspectives. Joined by senior India Today editors and students of the India Today Media Institute, this engaging dialogue captures the opportunities and challenges shaping India’s future in the world of startups.
In an exclusive conversation with India Today and Business Today, Børge Brende, CEO and President, World Economic Forum discussed the current state of the US amid global and domestic challenges. While President Trump’s core agenda on peace in Ukraine remains unfulfilled and hostage releases by Hamas delayed, the US economy continues to grow robustly, surpassing European expectations. Inflation and immigration issues remain key focuses. On the international front, the Ukraine war’s end depends on Russia’s calculation, with Putin holding only partial territory. The humanitarian crisis in Gaza adds complexity, with unexpected developments surprising the U.S. administration. Despite these difficulties, the strong domestic economy and ongoing diplomatic efforts suggest the US still holds significant influence, though many outcomes remain uncertain. Listen in
In an exclusive conversation with India Today and Business Today, Børge Brende, CEO and President, World Economic Forum highlighted that while mixed signals may emerge from the Trump administration—friendly remarks from President Trump alongside disparaging comments from his team—these are temporary “hiccups” rather than a fundamental shift. He stressed the historic perspective of decades of growing cooperation, underscoring common strategic and economic interests that bind the two nations. With Indian talent deeply integrated into top U.S. companies and the diaspora’s vital role in America’s economy, bilateral ties have a strong foundation. Despite recent tensions, general public affinity between the two countries remains high. The warm exchanges between Prime Minister Modi and President Trump suggest normalcy will likely return with further breakthroughs ahead. Listen in
Chris Wood, Global Head of Equity Strategy at Jefferies, shares his outlook on gold, silver and Bitcoin amid global economic uncertainty. He explains how the gold bull market, which gained momentum in 2022, has been driven by non-G7 central banks buying bullion since the Ukraine war and the freezing of Russia’s reserves. Gold now makes up a larger share of official foreign exchange reserves than the euro, while retail participation in the West has also picked up. Wood sees gold as a hedge against dollar weakness, with 10% of his global equity portfolio in gold miners and 6% in a Bitcoin ETF. He notes that Indian investors lack access to gold mining stocks, even though the sector is currently highly profitable. On silver, Wood calls it “high beta gold”, best suited for more aggressive investors seeking leverage on the gold trade.
Chris Wood, Global Head of Equity Strategy at Jefferies, shares his outlook on the most promising investment opportunities in India. While IT services face potential disruption from artificial intelligence, Wood emphasises India’s strength as a domestic demand-driven economy. His portfolio remains anchored in banks and financials, with a tilt towards financing companies benefiting from lower rates and consumption growth. He also highlights infrastructure—such as airports—along with travel, cement consolidation, healthcare, and defence as long-term themes to watch. According to Wood, India’s equity story has moved well beyond its historic focus on IT and banks, with diverse sectors now driving the country’s growth narrative.
Jefferies Global Head of Equity Strategy Chris Wood joins us for a breakdown of what’s really driving India’s markets right now—foreign outflows vs. domestic SIP strength, valuation vs. equity-supply dynamics, earnings through-cycle, the policy pulse (GST, taxes, RBI), and how geopolitics and tariffs may reshape capital flows. We also dive into sectors beyond Financials & IT, whether AI is forcing a structural rethink in Indian IT services, and why his portfolio has tilted toward new-age consumption platforms, as well as his views gold, silver and bitcoin. If you invest in the Indian stock market - this one is a must-watch.
India’s Q1FY26 GDP growth hit a five-quarter high at 7.8%, surprising analysts and fueling debate on policy direction. Rumki Majumdar, Economist at Deloitte, highlighted that while income tax and GST cuts, along with a 100 bps rate reduction, have supported momentum, the RBI is likely to pause for now amid tariff-driven global uncertainty. She noted that clarity may emerge by November, after which the central bank could deliver a limited 25–50 bps rate cut by fiscal year-end. According to her, any trade deal with the U.S. would ease uncertainty and guide India’s monetary path.
In the panel discussion, Radhika Rao, ED & Senior Economist, DBS Bank, noted that India’s strong Q1 GDP print at 7.8% was partly supported by front-loading of exports ahead of US tariff hikes. She highlighted that exports to the US rose over 20% between April and July, but the real tariff impact will show from September onwards as the second tranche of duties kicks in. On GST, Rao said relief measures could aid consumption, though some demand may be postponed in anticipation of cuts. She also flagged slowing nominal GDP near 8%, which could weigh on tax collections and corporate earnings.
India’s Q1FY26 GDP growth stunned analysts at 7.8%, the highest in five quarters, against 6.5% last year. In a panel discussion with Siddharth Zarabi on Business Today TV, experts broke down the surprise numbers. Radhika Rao highlighted robust GVA growth at 7.6%, beating expectations. Rumki Majumdar pointed to strong consumption, investment, and manufacturing, aided by record PMI readings. Madhavi Arora cautioned that temporary boosts like front-loaded government spending and low deflator effects inflated the headline, while weak corporate sales flagged underlying consumption stress. Overall, economists agreed this was a standout quarter, though sustainability will depend on future trends.
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