Author: Sabari Raychaudhuri

India is expected to remain one of the world’s fastest-growing major economies in 2026. The International Monetary Fund projects a growth above 6 per cent. Government tax collections are robust. Infrastructure spending is at record levels. Stock markets, despite bouts of volatility, continue to trade near historic highs. Yet beneath these impressive numbers lies a curious paradox. Many Indians do not appear to share the optimism embedded in the macroeconomic narrative. Consumer confidence surveys remain subdued. Households continue to worry about jobs, incomes and rising living costs. The question is not whether the economy is growing. The question is why…

The recent controversy surrounding Rajesh Exports has attracted significant attention because of SEBI’s allegation that the company’s reported revenues of nearly ₹15.15 lakh crore (approximately $180 billion) could not withstand the scrutiny of a forensic audit commissioned by the regulator. More specifically, SEBI has questioned whether the company’s claim that these revenues were generated through its Swiss subsidiary, Valcambi SA, is adequately supported by the subsidiary’s audited accounts. Predictably, the debate has become polarised. Those defending the company argue that the figures are being misread and misunderstood by people unfamiliar with the intricacies of the bullion business. Those raising concerns…