Hello Readers,
We are meeting after a week. Apologies for the unannounced absence.
The Independence Day week is usually a time to celebrate India's achievements, remember the sacrifices of our freedom fighters, and think about where the country goes from here. While doing exactly that, I realised there are countless things that shape a nation's future. We obviously can't discuss all of them. But over the past two weeks, I found myself writing about some of the foundations that quietly influence India's growth. They are undersea internet cables, working women's hostels, trade deals, global leadership, and building institutions.
Let's begin under the ocean.
We use the internet every day without thinking much about how it actually reaches us. Around 99% of international internet traffic travels through undersea cables. They are becoming strategic assets just like ports, oil pipelines and semiconductor factories. The interesting part is that India is largely a user of this ecosystem, not a builder. We don't manufacture submarine cables. We don't have our own repair fleet. Around 95% of our international cables land near Mumbai, creating a single point of failure. As geopolitics shifts from controlling territory to controlling infrastructure, this feels like one of India's next strategic opportunities. Read more here: India's Next Strategic Opportunity Lies Beneath The Ocean.
That article naturally reminded me of another kind of infrastructure we rarely discuss.
We are talking about working women's hostels. A few weeks ago, I wrote about how more than half of urban Indian women fall into the NEET category – they are neither in education nor employment. For women, getting a job is itself a challenge, but finding a safe place to stay is an even more daunting task.
Factories often build dormitories for workers. But service sector companies don't. That leaves thousands of young women trying to convince their families that moving alone to another city is safe enough.
Tamil Nadu's Thozhi hostels show that good public policy doesn't always have to be complicated. Sometimes safe accommodation, good management and the right location are enough to help women remain in the workforce. That's why I wrote We Need More Hostels For Working Women.
Then I went back to international economics.
These days, the idea of a common BRICS currency makes headlines. In my first TV appearance on NDTV Profit, I was asked about that. I wasn't very prepared then. But if someone asks me the same question today, my answer would be a clear "No". It sounds attractive, but the more I read, the less practical it appeared. There are several economic reasons behind it, backed by decades of research and theory. Rather than giving everything away here, I would encourage you to read the full piece: Let's Dump The Idea Of A BRICS Currency.
Then I found myself thinking about institutions again. In many previous newsletters and articles, I have highlighted the importance of institutions, and here's another one.
Many people have been celebrating Maharashtra bureaucrat Tukaram Mundhe. I completely understand why. In a corrupt system where enforcement feels weak, an honest officer naturally stands out.
But a different question bothered me. Why do we keep hoping for exceptional officers instead of expecting exceptional institutions?
India has produced remarkable individuals from TN Seshan to Verghese Kurien to E. Sreedharan. But perhaps their greatest contribution wasn't that they became heroes. It was that they built systems capable of surviving after they left. That's what Tukaram Mundhe Is Not The Problem. Our Love For Heroes Is is really about.
After this, let's talk about towels and bedsheets. Did you know India and Pakistan compete fiercely in the same Western markets for these products? In Europe, Pakistan wins due to tariff-free access, while India still pays duties. In the US, where neither country has that advantage, India has steadily gained market share thanks to its manufacturing scale and ability to produce higher-value products. It reminded me that trade isn't just about making good products. Trade policy matters too. With India's trade deals with the UK already in force and the EU and US progressing, the competitive landscape could look very different over the next few years. Let's hope India makes the most of that opportunity. Read more: India-Pakistan Fighting For Same Textile Market—And Trade Deals Are Changing It.
All these, in some ways, are core foundations of nation-building. Yes, we have made considerable progress through the years, but there's still more to do. And the things that are needed the most aren't the ones that grab headlines or dominate everyday conversations.
That's the week.
If you made it this far, I'd love to hear from you.
Which of these stories stayed with you? What stories can you share around these topics?
And more importantly, what should I dig into next?
An everyday object, a policy, a price that suddenly changed, a trend that's growing around... send it my way. Just hit reply. I read everything.
See you next Saturday.
Cheers,
Swapnil Karkare
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
