The Core Report
The Core
Every Monday to Saturday, tune in as financial journalist and host Govindraj Ethiraj gives you the latest news in business, economy and technology
Episodes
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Mar 31, 2025 • 26min
#545 Markets Close Last Financial Year In Positive
On Episode 545 of The Core Report, financial journalist Govindraj Ethiraj talks to Madhavi Arora, Chief Economist, Emkay Global Financial Services as well as Aditya Valiathan Pillai, Visiting Fellow at Sustainable Futures Collaborative.SHOW NOTES(00:00) Stories of the Day(01:09) Markets crackle in slog overs to close last financial year in positive(02:14) Gold hits a fresh record high, up 37% in last financial year(05:50) Credit card spends fall to a 7-month low of ₹1.67 trillion in February(08:37) Tariffs will hit tomorrow, how should India be thinking about them going ahead?(18:36) Fresh predictions on a hot April and summer. How should private and Government sectors be approaching this?Listeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 30, 2025 • 41min
#544 The Man Who Built India’s First Data Centre: Sharad Sanghi On Power, AI & The Future
He built India's first data centre when the term didn't even exist. Today, he's powering the AI revolution.In this special episode of The Core Report Special Edition, Govindraj Ethiraj speaks with Sharad Sanghi, founder of NetMagic and CEO of NEYSA, about the evolution of India’s data centre industry — from server closets in the early 2000s to AI-powered hyperscale campuses today.What you’ll learn in this episode:1. How India’s first data centre was built2. Why Mumbai is the data centre capital of India3. The pivotal role of banks, hyperscalers, and AI in industry growth4. How power, fibre, and cooling define modern data centres5. Sharad’s vision for democratizing AI with NEYSAA must-watch for anyone interested in tech infrastructure, enterprise IT, AI adoption, and the future of cloud services in India.Listeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 28, 2025 • 52min
#543 India: From Consumer to Export Powerhouse – DHL’s Bold Outlook | R.S. Subramanianm
In this episode of The Core Report Weekend Edition, Financial Journalist Govindraj Ethiraj speaks with R.S. Subramanian, Senior Vice President South Asia at DHL Express, to explore how global logistics is evolving amid economic uncertainty, supply chain complexity, and geopolitical shifts.From India's emergence as a global manufacturing hub to DHL's on-ground response during the Nepal earthquake, this episode dives deep into how DHL builds resilient, crisis-proof logistics networks and ensures supply chain continuity in the face of disruption.Discover how DHL is enabling faster trade routes, embracing digitalisation, and leading sustainable logistics practices across sectors like electronics, automotive, e-commerce, and life sciences. Learn why global trade isn’t shrinking—but becoming more intricate—and how India is positioned to benefit.SHOW NOTES(00:00) Introduction(01:00) How is DHL coping with the current trade war situation(03:55) Understanding DHL’s presence in India(07:06) Migration of Supply Chains(09:40) Sophistication of supply chains(11:32) Complexities of Electronics Supply chains(14:45) Trade Growth + DHL(17:08) International trade(20:16) Manufacturing(21:47) Multi-contingency options(24:20) Delivery infrastructure, partner network(29:19) TDS(31:11) Customs is very efficient, capacity is the issue(35:19) Supply Chain resilience(36:35) GT20(41:00) DHL’s Sustainability efforts(46:14) DHL has been a market creator in India(47:36) DHL Express Network + customer Service(48:14) DHL + Customs(49:33) DHL Go Help (Disaster Relief Logistics)Listeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 27, 2025 • 32min
#542 Markets Survive a Fresh Volley of Tariff Fire
On Episode 542 of The Core Report, financial journalist Govindraj Ethiraj talks to Ajay Bagga, veteran investor and market analyst as well as Ajay Srivastava, Founder of Global Trade Research Initiative.SHOW NOTES(00:00) Stories of the Day(01:09) Markets survive a fresh volley of tariff fire(03:29) How FIIs continue to drive sentiment and price movements(14:29) Goldman raises its year end gold price target to $3,300(16:56) India is now facing tariff impact on auto, auto components, steel and aluminium from the US. What’s next?(26:06) Indian media and entertainment industry revenues fell 3% last year even as Digital advertising in 2024 grew 17 per cent to Rs 70,000 crore, which was 55 per cent of total Listeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 26, 2025 • 28min
#541 Markets Retreat as Tariff Fears Reign Once Again
On Episode 541 of The Core Report, financial journalist Govindraj Ethiraj talks to Dr. Suresh Itapu, Chairman of the Soy Food Promotion and Welfare Association (SFPWA) as well as Himanshu Parekh, Partner and Head of Tax (West) at KPMG Assurance & Consulting Services LLP.SHOW NOTES(00:00) The Take(04:41) Markets retreat as tariff fears reign once again. FII buying at $2 billion in four days.(07:44) The Rupee continues to rise towards the year end(10:34) Why India’s soy makers would welcome America’s reciprocal tariffs on soybean and thus lower import duties in India(18:46) A 6% equalisation levy or Google tax is set to go, what does it meanListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 25, 2025 • 25min
#540 Markets Halt Their Rally but Hold In Positive
On Episode 540 of The Core Report, financial journalist Govindraj Ethiraj talks to Manish Gupta, Senior Director and Deputy Chief Ratings Officer, Crisil Ratings Limited. We also feature an excerpt from our recently released Business Books Edition featuring author and entrepreneur K Ganesh.SHOW NOTES(00:00) Stories of the Day(01:00) Markets halt their rally but hold in positive despite fresh tariff threats and Asian weakness(02:54) Tariffs are back on the table and gold is strengthening again(03:33) Oil prices start inching up on threat of US tariff on Venezuelan crude. Shell unveils major gas targets(05:36) In unusual phenomenon, India’s cement industry is seeing acquisitions at a per tonne cost lower than greenfield projects(15:30) A story of disruption, from the days of the personal computer, with K GaneshListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 24, 2025 • 26min
#539 The Stockmarkets Pull Back Their Entire 2025 Losses
On Episode 539 of The Core Report, financial journalist Govindraj Ethiraj talks to Garima Kapoor, Economist and Executive Vice President at Elara Securities (India) as well as Anindya Banerjee, Head of Research for Forex and Interest Rates at Kotak Securities.SHOW NOTES(00:00) Stories of the Day(01:08) The stockmarkets pull back their entire 2025 losses(04:43) The Rupee gains for ninth session, recovers 2025 losses(05:49) Understanding the dramatic turnaround in the Rupee, the best performing Asian currency this month(12:23) What is changing in the backdrop to the Indian economy that is changing the outlook as well?(21:15) Private capital expenditure's share in the overall investments in the economy dipped to a decadal low of 33 per cent in FY24(23:14) And the one area where the US may not impose tariffs - eggs, which are running outListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 23, 2025 • 35min
#538 The Stock Markets Were Up 3,000 Points Last Week
On Episode 538 of The Core Report, financial journalist Govindraj Ethiraj talks to Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Company as well as Shankhadeep Mukherjee, Principal Analyst at CRU.SHOW NOTES(00:00) The Take(05:38) The stock markets were up 3,000 points last week, on a strong holding pattern(07:33) Rupee is strong, forex reserves hit 3 month high(08:07) Iraq, 2nd largest OPEC oil producer, to hike output too(09:51) India’s bottom of the pyramid needs more institutionalised investment options, Kotak Mutual Fund(27:49) India wants to impose a 12% duty on steel imports, where could that go?Listeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 21, 2025 • 23min
#537 How DBS Became the World's Best Digital Bank with Piyush Gupta
🎙 In this episode of The Core Report Weekend Edition, Govindraj Ethiraj speaks with Piyush Gupta, CEO of DBS Bank, on how DBS transformed from a traditional bank into the world’s best digital bank.🔍 Discover how AI, customer obsession, and cultural change helped DBS lead a fintech revolution — and how they're using embedded finance, predictive analytics, and Gen AI to reshape banking in 19 countries.💡 Key topics covered:1) How DBS became a billion-dollar AI-powered bank2) The concept of "embedded finance" and invisible banking3) Why "nobody wakes up wanting to go banking"4) Cybersecurity in the age of deepfakesThe future of personalized, AI-driven banking5) What DBS learned from Alibaba, Uber, and Netflix6) DBS’s India strategy & digital-only banking insights🔗 Stay tuned till the end as Piyush reveals DBS’s bold bets on blockchain, digital assets, and the future of programmable money.📌 Timestamps(00:00) Introduction(01:22) DBS’ early adoption of technology for banking(03:15) Programme of Change and Digital Transformation(05:29) Balancing being a tech company and a bank at the same time(06:20) Embedded Finance(07:03) Support from Regulatory Bodies(08:00) Issues around trust(10:00) AI and finance and nudges(12:48) Difference of culture between countries(14:23) Example of AI and mortgages and other use cases(16:40) Gen AI(18:22) Innovation processes(19:38) Blockchain and digital assets(20:40) DBS in India(22:20) Plans for IndiaListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Mar 20, 2025 • 32min
#536 The Markets Add Another 899 Points
On Episode 536 of The Core Report, financial journalist Govindraj Ethiraj talks to Sheetal Sapale, Vice President (Commercial) at Pharmarack as well as Sumit Mitra, CEO at Tesco Business Solutions.SHOW NOTES(00:00) Stories of the Day(01:00) The markets are on a strong wicket, add another 899 points(01:59) Wall Street takes solace from Federal Reserve comments on the transitory impact of inflation in the US(03:03) The rupee is on best winning streak since January 2024(03:51) Lifestyle diseases see new launches in weight loss even as other categories grow(13:53) Newer GCCs like McDonalds are coming to India, even as older ones like Tesco complete over 20 yearsListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
