The Macro Brew
The forces shaping India's markets, written for people who actually invest.
The world around the business.
The Macro Brew works top down. It starts with the economy, moves through sectors and industries, and ends up at the businesses sitting inside them. The question behind every issue is a simple one: what is happening around businesses and markets right now, and what does it actually change?
India's macroeconomy
Growth and GDP, inflation, interest rates, the RBI and monetary policy, fiscal policy and government finances, credit and liquidity, employment, consumption, trade, the rupee and capital flows.
Sectors and industries
How an industry is built and where its profits end up. Structure and market size, supply and demand, capacity, pricing, competition, regulation, consolidation, technology and the cycles industries move through.
The bigger currents
Commodities, global developments that reach India, policy and regulation, geopolitics, and the capex, consumption and credit cycles that move several industries at once.
What to expect, and what not to
Long-form written analysis rather than bullet points. Charts with their sources shown. History and base rates rather than forecasts. Plain language for technical subjects. You will not find price targets, buy calls, daily market commentary, or guesses presented as certainty.
Previous Issues
A sense of the range before you subscribe.
Loading issues...
Subscribe to The Macro Brew
One subscription covers both newsletters. New issues land in your inbox as they publish.