Gold has always been India’s favourite investment. Tata has simply decided it would also like to make a business out of it. By acquiring a majority stake in Yogakshemam, Tata Capital is entering India’s $194 billion gold loan market, one of the fastest-growing segments in retail finance. The strategy is straightforward. Millions of Indians already store enormous wealth in gold jewellery, and borrowing against it is often cheaper and faster than taking unsecured loans. The deal also signals that gold loans are no longer a niche business dominated by specialist lenders. When the Tata Group enters a market, it’s usually because it believes the opportunity is only getting started.

Every time the Middle East makes headlines, I instinctively check crude oil prices before anything else. Sure enough, Brent jumped over 4.5% after fresh US-Iran hostilities. For a country that imports nearly 85% of its crude, that’s never just someone else’s problem. Higher oil means a bigger import bill, a weaker rupee, costlier transport, and eventually, pricier groceries. The RBI gets another inflation headache, while the government faces tough choices on subsidies and taxes. We’ve diversified suppliers and built strategic reserves, but geography still matters. When the Strait of Hormuz gets nervous, India’s wallet usually does too.

Everyone wants AI everywhere. Almost nobody wants the bill. Palo Alto Networks CEO Nikesh Arora believes AI token costs must fall by 90% over the next two years if enterprises are expected to move beyond flashy demos and pilot projects. He’s probably right. Companies don’t reject AI because it isn’t impressive. They reject it because finance teams are. The next battle in artificial intelligence won’t be about who builds the smartest model, but who builds the cheapest one to run. History rarely rewards the most powerful technology. It usually rewards the one that becomes affordable enough for everyone else.