Eleanor Roosevelt once said, ‘Great minds discuss ideas; average minds discuss events; small minds discuss people.’ In an era increasingly dominated by personalities and passing controversies, it is essential to refocus on enduring ideas and transformative events. This is especially true in the post-2020 world, where a series of global shocks has fundamentally reshaped geopolitics. In response, India’s foreign policy is being fundamentally recalibrated. From managing a volatile border with China to cultivating new alliances across the Global South, India is navigating a multipolar world with caution and intent.

Against this backdrop, Suhasini Haidar, Diplomatic Editor at The Hindu, led a timely discussion at a recent India CEO and CFO Forum session in Delhi NCR. Her insights offered business leaders a candid perspective on how India’s foreign policy may evolve in 2025 and beyond, balancing principles, pragmatism and power in a complex and shifting global order. This podcast summarises these discussions.

The emergence of US tariffs as a policy tool, is a decisive shift in global trade and indeed the liberal world order, which facilitated the emergence of Asia’s tiger economies. Once dismissed as a temporary measure, tariffs are now rooted in a broader economic agenda that merges protectionism, domestic manufacturing and geopolitical influence.

For companies, this carries far-reaching implications, shaping inflation, growth and production strategies. At the start of the year, markets assumed tariff increases would remain limited, more negotiation tactic than economic reality. However, recent decisions from the US administration, targeting Canada, Mexico, China and potentially Europe and India, have splintered that expectation. This podcast explains.

In the discussions that your columnist has had, over the course of the past couple of months, with IMA Forum Members, it was evident that urban consumption has begun to taper.

As it happens, the trend really became apparent several quarters ago. Still, consumer goods companies are likely to record annual revenue growth between 5% and 8%. But that is largely on account of higher prices rather than larger volumes. Analysts have offered various explanations such as greater inflation, poor wage growth and higher home rentals.

Whilst these may well be true, the fact is consumption growth is usually in sync with urban employment. That has failed to happen. This podcast explains.