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

This is a difficult subject, pitting the industry against politicians. While industry leaders prioritize merit, politicians want to ensure what they call “social justice.” Last Friday, the Congress released its manifesto in poll-bound Telangana and promised a 75% quota for locals in private jobs. But just hours later, a Supreme Court struck down a similar law invoked by BJP’s ruling in Haryana. Are local labor quotas the right way to go?

Now let’s move on to another difficult topic: 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 spoke to former External Affairs Minister Shyam Saran to get his views on the matter. Saran also spoke at length about other issues affecting India, such as the recent talks between US President Joe Biden and Chinese leader Xi Jinping. The seasoned diplomat also provided insight into developments in the Maldives, Bangladesh and Pakistan.

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India’s bullish financial markets also reflect the country’s growing power. The stocks of market intermediaries such as BSE, CDSL and CAMS have posted huge gains this year, led by a rapid market rally. The questions that arise for investors are of course whether there is more upside potential in these shares or whether it is time to book profits.

Softer-than-expected inflation figures in the United States have also lifted market sentiment. But recent news from the US has sparked a row here. Authorities claim to have foiled an attempt to assassinate Gurpatwant Singh Pannun. India considers him a terrorist. Listen to this episode of the podcast for more.