businessline's State of the Economy Podcast

Theme: Energy | Are forests the missing piece in India’s climate plan?

In this episode of the State of the Economy podcast, businessline’s Rishi Ranjan Kala talks to Professor Ashwini Chhatre, Executive Director, Bharti Institute of Public Policy at Indian School of Business (ISB) about how India’s green energy transition can and must include its poorest citizens, particularly those living in and around forest areas.  Chhatre argues that bioenergy is not just important but “extremely critical” to India's decarbonisation journey. He explains why forest lands—covering 23% of India—must be re-integrated into the production economy in a sustainable, community-driven way.  He makes a strong case for forest lands—especially degraded lands with little or no tree cover—to be repurposed for bamboo plantations, which offer carbon sequestration, flood control, and community income.  Chhatre also discusses the need for community ownership to prevent overexploitation of forest resources and ensure long-term sustainability. Drawing on decades of research and active policy work, he calls for reforms in subsidies, outdated regulations like transit permits, and a mindset shift away from a narrow focus on farmers to a broader recognition of India’s diversified livelihood economy.

Theme: Agriculture | Why India must rethink its fertiliser and farming policies

In this episode of the State of the Economy Podcast, businessline’s Subramani Mancombu speaks to Maninder Singh Nayyar, Founder and CEO, CEF Group about the urgent issue of soil degradation in India and its far-reaching economic, environmental, and health impacts.  Nayyar traces the roots of this degradation to the Green Revolution and excessive use of chemical fertilisers and pesticides. He explains how this has created a vicious cycle of deteriorating soil health, rising input costs, and declining yields, pushing farmers into debt. The alarming decline in soil organic carbon—from 2–3% to just 0.6–0.9%—could render Indian soil unfit for agriculture within 10–15 years.  He goes on to talk about the need for a middle ground between chemical and organic farming through the promotion of “safe” or “health” food categories, revised soil quality ratings, and better market linkages for naturally grown produce. He advocates for a new pricing and certification system, practical standards, and incentives such as dedicated marketplaces and integration with delivery platforms.  The episode also explores innovative approaches like converting agricultural residue into organic manure, reducing dependence on chemical imports, and tackling issues like stubble burning. Nayyar calls for a complete overhaul of outdated policies like the 1985 Fertiliser Control Order and stringent regulation of organic manure production.  This comprehensive discussion highlights the urgent need for sustainable, scalable reforms to preserve India’s soil health and secure its agricultural future.

Theme: Commodities | Are rising commodity prices eating into India's food sector growth?

In this episode of the State of Economy Podcast, businessline's  Subramani Ra Mancombu speaks with Sanjay Kumar, MD & CEO of Rassense Pvt Ltd, to decode how commodity prices are shaping the future of India’s fast-growing food services sector — currently valued at $80 billion and projected to reach $150 billion by 2030.  Kumar provides a clear-eyed view of inflation trends across key food commodities include pulses, dairy, vegetables, and edible oils and their impact on pricing and profitability. He highlights the double-edged nature of low inflation, questioning whether it reflects healthy supply or weak consumption in India’s largely rural economy.  The discussion covers everything from the effects of currency depreciation and global fuel trends to the risks of diverting food crops for fuel. Kumar also weighs in on the challenges posed by unpredictable import duties and the need for a stable policy to ensure better business forecasting.  Is rising demand during festive seasons set to push prices higher and what’s the role of logistics in price escalation?  (Host: Subramani Ra Mancombu Producer: Prethicshaa Gurumoorthy) About the State of the Economy podcast  India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.

Copper’s new age: Why India can’t afford to miss out

In this episode of the State of the Economy podcast, businessline’s Subramani Ra Mancombu speaks with Mayur Karmarkar, Managing Director of the International Copper Association, about the future of copper in India’s economy.  While copper prices globally are experiencing a bearish phase, India’s domestic demand is on an upward trajectory, driven by construction, infrastructure, and industrial growth. Karmarkar explains that India saw over 1.8 million tonnes of copper usage in the last fiscal year—an 8% increase—and anticipates a similar trend this year. The driving force? Rising capital formation in both private and public sectors, growing electricity needs, and more resource-intensive buildings.  The conversation also explores sunrise sectors that are accelerating copper demand. Electric mobility, particularly in EV battery and motor manufacturing, is creating new investment avenues. India has already announced 118 GWh of battery production capacity, and products like EV foils are gaining traction.   Karmarkar raises long-term concerns about copper supply security, especially given China’s dominant position in processing and refined copper production.   (Host: Subramani Ra Mancombu, Producer: Amitha Rajkumar)   About the State of the Economy podcast    India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem to set to fire on all cylinders.

Theme: Defence | Can Indian drones outfly global giants in defence tech?

In this episode of the State of Economy Podcast, businessline's  Dalip Singh speaks with Ashok Atluri, CMD of Zen Technologies, a pioneer in India’s simulation and counter-drone defence ecosystem.  The conversation dives into Operation Sindhoor, where Zen’s counter-drone systems played a vital role in India’s air defence against threats from Pakistan. From autonomous drone warfare and indigenous defence tech development to post-quantum threats and India's strategic push for defence self-reliance, this episode explores the cutting edge of modern military technology.  They discuss the evolving global perception of Indian defence manufacturing. Once mocked as a major importer, India is now seen as an innovator, particularly in drones and simulators. He shares how foreign delegations were impressed by India's containerised tank simulator, even calling it more advanced than US systems.  Atluri stresses the need to shift from being mere suppliers in the defence chain to creating complete, world-class products. He advocates for nurturing innovation-driven Indian companies and reforming policy to support them. The conversation closes with reflections on national security, intelligence, and technological preparedness.  (Host: Dalip Singh Producer: Prethicshaa Gurumoorthy)   About the State of the Economy podcast    India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem to set to fire on all cylinders.