In this special episode, we feature a conversation recorded recently in Delhi with the government of India’s Chief Economic Advisor, Dr Anantha Nageswaran. I began by asking Dr Nageswaran for an overview of the current state of the economy. We then move on to buffers, from energy to financial, to deal with a world of frequently occurring shocks. The conversation then delves into the high interest rate environment, supply side constraints, India’s fiscal dynamics, risk premium, investment environment, trade friction and liberalisation policy, AI disruption, relationship with the US, challenges with pursuing strategic autonomy, laying the foundation of high-end manufacturing through activist policies, green transition, outlook for exports, agriculture, and the exchange rate. Wide ranging and excellent insights.