India’s growth, rupee, rates, and equity flows.
India
Tata Capital’s USD 1.85 billion IPO, offered at a 56 % discount, mirrors Africa’s illusion—when prestige and politics outweigh governance. A “bargain” isn’t value when returns lag and risk is priced in, from [BSE:500034] to [NSE:COOP] and [NGX:ZENITHBANK] alike.
Markets
California’s trucking collapse shows oversupply and retreat. India faces driver shortages, Latin America struggles with costly roads, and Africa—undersupplied but growing 6–7% annually toward USD 500B—emerges as the frontier, offering 8–12% IRRs where others strain.
Regions
India’s GST 2.0 simplifies slabs, cuts rates on 375+ items, and could lift consumption while straining revenues. For markets, it’s a test of delivery: FMCG and retail may gain, IN10Y:IND and USD/INR=X show fiscal credibility. Global spillovers reach US, EU, Africa.