Grand Tamasha

Latest Episodes:

How Will the Ukraine Crisis Impact India’s Economy? Mar 09, 2022

Show notes

This week, the Indian government revealed that India’s economy expanded by 5.4 percent in the third quarter of the current fiscal year, which was well below market expectations. The latest GDP print raises fresh questions about the health of the Indian economy at a time when global headwinds are starting to pick up. Russia’s invasion of Ukraine, the spike in oil and other commodity prices, and persistent inflation all pose serious risks to India’s macroeconomic outlook.

This week on the podcast, Milan sits down with economist Sajjid Chinoy to discuss how India might weather these external shocks. Sajjid is chief India economist at JP Morgan and one of the most respected voices on the Indian macroeconomy. Milan and Sajjid discuss India’s policy trade-offs, the latest underwhelming GDP numbers, and India’s progress on asset sales. Plus, Milan asks Sajjid about the reforms needed to boost India’s long-term growth outlook.

Episode notes:

Sajjid Chinoy, “Managing the crude price pressure,” Indian Express, March 4, 2022.
Sajjid Chinoy, “4 choices, no free lunch: Budget attempted a balancing act in a complex domestic & global macro environment,” Times of India, February 3, 2022.
“Breaking Down India’s Budget,” (with Roshan Kishore), Grand Tamasha, February 16, 2022.
Sajjid Chinoy and Toshi Jain, “India’s 4Q21 GDP underwhelms, underscoring the pandemic’s scars,” J.P. Morgan, February 28, 2022.

India's High-Wire Act on Russia-Ukraine Mar 02, 2022

Show notes

Late last week, Russia launched a full-scale military invasion of Ukraine, deploying the might of the Russian military to conduct a hostile takeover of its sovereign neighbor. Over the past few days, India’s role has received significant attention as it has neither condoned Russia’s behavior nor condemned it in the strongest terms.

India has a long strategic relationship with Russia that it can ill afford to rupture when it has thousands of Chinese troops on its northern border. At the same time, there are increasing calls from the West for India to “get off the fence.”

This week on the show, Milan sits down with strategic affairs expert Dr. Rajeswari (Raji) Pillai Rajagopalan to talk about the ongoing Ukraine crisis. Dr. Rajagopalan is the director of the Centre for Security, Strategy and Technology at the Observer Research Foundation in New Delhi. She has extensive experience—both inside and outside of government—on matters of Indian foreign policy and national security.

Milan and Raji discuss the history of India-Russia relations, the extent of shared defense ties, and the friction that has developed in the relationship. Plus, the two discuss India’s tight-rope walk on Ukraine and the ramifications of the crisis for the Indo-Pacific.

Rajeswari Pillai Rajagopalan, “Why Did Russian President Putin Visit India?” Observer Research Foundation, December 15, 2021.
Rajeswari Pillai Rajagopalan, “India’s Place in the New U.S. Indo-Pacific Strategy,” Observer Research Foundation, February 24, 2021.
Rajeswari Pillai Rajagopalan, “Putin and Xi Frame a New China-Russia Partnership,” Observer Research Foundation, February 15, 2021.
“The Looming Cloud of Sanctions Over U.S.-India Relations,” (with Sameer Lalwani), Grand Tamasha, September 29, 2021.

Nehru's Long Shadow Over India Feb 23, 2022

Show notes

India’s first prime minister, Jawaharlal Nehru, died nearly six decades ago, but it is remarkable how much his legacy continues to color modern Indian life.

From the border dispute with China to debates over fundamental rights and Hindu-Muslim relations, the current policy discourse in India cannot be disentangled from Nehru’s own ideological convictions and those who did battle against him.

A new book by Adeel Hussain and Tripurdaman Singh, Nehru: The Debates That Defined India, shines a spotlight on four consequential debates that Nehru engaged in that get to the heart of the Indian polity. The authors join Milan on the show this week to discuss Nehru’s enduring legacy, his intellectual sparring partners, and contentious debates over nationalism, communalism, civil liberties, and foreign policy.

“Episode 262: Nehru’s Debates,” (with Adeel Hussain and Tripurdaman Singh), The Seen and The Unseen (podcast), January 31, 2022.
Tripurdaman Singh, Sixteen Stormy Days: The Story of the First Amendment of the Constitution of India.
“Madhav Khosla on India’s Founding Moment,” Grand Tamasha, January 29, 2020.

Breaking Down India’s Budget Feb 16, 2022

Show notes

On February 1, the Union government presented its budget for the upcoming fiscal year—setting the tone for its midterm pivot as the government turns toward 2024 and the end of its second term in office. What are the biggest takeaways from this year’s budget? How did the markets receive it? And what does it tell us about India’s uncertain economic recovery?

To discuss these questions and much more, Milan is joined on the podcast this week by Roshan Kishore, data and political economy editor at the Hindustan Times.

Milan and Roshan discuss India’s macroeconomic context, the government’s long-term growth strategy, and lagging private demand. Plus, the two discuss potential headwinds arising from the global economy and the debate over India’s long-term trend growth rate.

Roshan Kishore, “Math of the economy: How to understand the Budget,” Hindustan Times, February 2, 2022.
Roshan Kishore, “Three questions which capture India’s medium-term economic challenge,” Hindustan Times, February 3, 2022.
Poonam Gupta, “Budget steers clear of drama in complex economic environment,” Economic Times, February 2, 2022.
Rohit Lamba and Raghuram Rajan, “Don’t Mimic China’s Economic Model,” Times of India, February 15, 2022.

Encore: How Shah Rukh Khan Inspires Female Empowerment Feb 09, 2022

Show notes

Due to scheduling conflicts, there is no new episode of Grand Tamasha this week. A new episode of Grand Tamasha will air next Tuesday at 9:00 PM EST/Wednesday 7:30 AM IST.

Most of our listeners do not need an introduction to the Bollywood superstar Shah Rukh Khan. You’ve watched his movies. You’ve sung the songs his films have popularized. You might even have had his poster on your wall growing up.

A new book by the economist Shrayana Bhattacharya, Desperately Seeking Shah Rukh: India's Lonely Young Women and the Search for Intimacy and Independence, describes another role that Shah Rukh has fulfilled: he has been the north star for women across India as they search for intimacy, independence, and empowerment.

Shrayana joins Milan on the podcast to discuss her new book—which is part economics tract, part reportage, part social commentary, and part feminist call to arms. Milan and Shrayana discuss how Shah Rukh has become a female (but not feminist) icon, the economics behind the lack of women’s agency in India, and her own struggles with love and loneliness. Plus, the two discuss the mysteries of the Delhi social scene and the ways government policy can help challenge conservative, patriarchal social norms.

K.X. Ronnie, “Interview, Shrayana Bhattacharya, author, Desperately Seeking Shah Rukh – “I’m a loud and proud feminist economist,” Hindustan Times, November 27, 2021.
Devesh Kapur, Neelanjan Sircar, and Milan Vaishnav, “Introduction to e-Symposium: Urbanisation, gender, and social change in north India,” Ideas for India, December 6, 2021.
Milan Vaishnav, “Women and work: How much does measurement matter?” Ideas for India, May 10, 2021.
Ruth Pollard, “What a Bollywood Megastar Means for Women in India,” Bloomberg, December 9, 2021.

India’s Future in a Changing Global Order Feb 02, 2022

Show notes

India’s Path to Power: Strategy in a World Adrift is a manifesto written by eight of India’s leading public intellectuals that seeks to chart a future course for Indian’s foreign policy. But, unlike most foreign policy reports, it delves into thorny issues of economics, climate change, global governance, and India’s domestic politics.

This week on the show, Milan is joined by one of the report’s key authors, Ambassador Shivshankar Menon. Ambassador Menon is a distinguished fellow at the Centre for Social and Economic Progress in New Delhi and has had a long and distinguished career in government—serving as national security advisor, foreign secretary, and high commissioner to China and Pakistan, among other notable positions.

Milan and Ambassador Menon discuss the India-China-U.S. triangle, the fate of India’s “Neighborhood First” policy, and the state of civil-military relations. Plus, the two talk about the centrality of democracy at home to India’s power projection abroad.

Episode notes:

India’s Path to Power: Strategy in a World Adrift, Centre for Policy Research and Takshashila Institution.
“The Biden-Modi Summit and the Future of U.S.-India Relations” (with Ashley Tellis), Grand Tamasha, September 22, 2021.

Can India Beat COVID in 2022? Jan 26, 2022

Show notes

On Sunday, January 23, India reported more than 333,000 active COVID cases while the official number of fatalities surpassed 500 deaths. What is the state of COVID in India today? What lessons has this pandemic imparted? And what, if anything, does COVID mean for the future of economics and politics in the country.

To discuss these questions and to kick off the seventh season of the podcast, Milan speaks with Sukumar Ranganathan, editor-in-chief of the Hindustan Times, on the show this week.

Milan asks Sukumar to assess India’s COVID response, the impact the pandemic has had on federalism, and whether India’s economy has turned a corner. Plus, Milan and Sukumar discuss whether COVID has fundamentally changed India’s future economic and political trajectories.

Sukumar Ranganathan, “In 2022, what India must do to learn to live with Covid,” Hindustan Times, December 11, 2021.
“Anup Malani on India’s COVID Second Wave,” Grand Tamasha, April 27, 2021.
“Niha Masih on Reporting on India's COVID-19 Crisis,” Grand Tamasha, June 16, 2021

The State, the Economy, and the Art of Podcasting Dec 22, 2021

Show notes

This week, we conclude Season Six of Grand Tamasha with a bang. Before Milan was a podcast host, he was a podcast consumer. And two of his favorite India podcasts are “The Seen and the Unseen” with Amit Varma and “Ideas of India” with Shruti Rajagopalan. So, what better way to end our season than with a massive mash-up of three leading India podcasts.

Amit and Shruti join Milan on the show this week to discuss the relevance of Lant Pritchett’s popular characterization of India as a “flailing state” and whether there is such a thing as the “Modi economic doctrine” eight years into his prime ministership. Plus, the three discuss the art and science of podcasting.

Grand Tamasha will be taking a little holiday break, but we will be back in late January with a new season of insightful conversations on Indian politics and policy. Stay tuned for more information about our new season!

Lant Pritchett, “Is India a Flailing State?: Detours on the Four Lane Highway to Modernization,” Harvard Kennedy School.
Shruti Rajagopalan and Alex Tabarrok, “Premature Imitation and India’s Flailing State,” The Independent Review.
Keshava Guha, “In Farmers vs Modi, A Big Lesson For Congress,” NDTV.com.
Amit Varma, “Narendra Modi Takes a Great Leap Backwards,” Times of India.
Amit Varma, “#9: Why Are My Episodes so Long?” The India Uncut Newsletter.
Emergent Ventures, Mercatus Center at George Mason University.
“The Seen and The Unseen” book project.
Amit Varma, “We Are Fighting Two Disasters: Covid-19 and the Indian State,” Times of India.
Amit Varma, “Lessons from an Ankhon Dekhi Prime Minister,” Times of India.
W.S. Merwin, “Separation.”

How Shah Rukh Khan Inspires Female Empowerment Dec 15, 2021

Show notes

K.X. Ronnie, “Interview, Shrayana Bhattacharya, author, Desperately Seeking Shah Rukh – “I’m a loud and proud feminist economist,” Hindustan Times, November 27, 2021.
Devesh Kapur, Neelanjan Sircar, and Milan Vaishnav, “Introduction to e-Symposium: Urbanisation, gender, and social change in north India,” Ideas for India, December 6, 2021.
Milan Vaishnav, “Women and work: How much does measurement matter?” Ideas for India, May 10, 2021.
Ruth Pollard, “What a Bollywood Megastar Means for Women in India,” Bloomberg, December 9, 2021.

Tibet: India and China's 'Three-Body Problem' in the Himalayas Dec 08, 2021

Show notes

Ambassador Nirupama Rao has had the kind of career that every Indian Foreign Service aspirant dreams of. In 2011, she retired as foreign secretary to the Government of India, the most senior position in the foreign service. She has served as spokesperson for the Ministry of External Affairs, ambassador to Sri Lanka, ambassador to China, and ambassador to the United States of America.

She is also the author of a new book, The Fractured Himalaya: India Tibet China, 1949-62. The book is a deep dive into one of the most consequential periods of India-China relations—a period whose repercussions are felt even today.

Ambassador Rao joins Milan on the podcast this week to discuss Nehru’s long fascination with China, his inability to settle India’s border dispute with China, and his “flawed heroic” character. Plus, the two discuss the current state of border tensions and the deep roots of China’s infrastructure advantage in the Himalayas.

“Pallavi Raghavan on an Alternative History of India-Pakistan Relations,” Grand Tamasha, April 7, 2020.
“Modi's Farm Law Reversal, India-China, and Trade Policy,” Grand Tamasha, November 23, 2021.
“Kanti Bajpai on Why China and India Are Not Friends,” Grand Tamasha, July 6, 2021.
C. Raja Mohan, “Nirupama Rao’s latest book, The Fractured Himalaya, is a lucid account of Sino-Indian relations,” Indian Express, November 7, 2021.

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