Milind Khandekar

1 week ago | milindkhandekar.substack.com | Milind Khandekar

In October 2008, when the global financial crisis hit, Foreign Institutional Investors (FIIs) sold ₹16,000 crore worth of Indian stocks — and the market crashed by 25%. Fast forward to 2025. FIIs sold more than ₹87,000 crore in January alone…And the market? Barely dropped by 2-3%. What changed? You did. Your SIPs did. And so did millions of other Indian investors who now power the market from within.

2 weeks ago | milindkhandekar.substack.com | Milind Khandekar

Elon Musk is the richest man in the world. When Donald Trump won the U.S. presidential election last November, Musk’s influence grew even stronger. He had both money and power firmly in his grip. Shares of his companies soared to record highs. But five months later, the story has changed. Tesla’s sales are declining, profits are shrinking, and the stock price is falling. Musk has now admitted that he will reduce his involvement with the U.S. government and focus more on Tesla.

3 weeks ago | open.substack.com | Milind Khandekar

Life without UPI — Unified Payments Interface — has become unimaginable. Just like we carry our phones everywhere, we expect UPI to work all the time. Our growing dependence on it is evident from the fact that in 2019 there were 1 billion UPI transactions a month, and now it’s 18 billion. The system is struggling to handle this load — which is why UPI has crashed four times in the past month. In this edition of The Ledger , we explore why this is happening. One major reason is that UPI is free.

1 month ago | milindkhandekar.substack.com | Milind Khandekar

On Wednesday morning, President Donald Trump posted on social media encouraging investors to “buy the dip,” signaling confidence in the stock market despite recent declines following his tariff announcements. However, by 2 PM, he reversed course, announcing a 90-day pause on additional tariffs for countries other than China. This shift was influenced by significant volatility in the bond market, which raised concerns about increased borrowing costs for the U.S. government.

1 month ago | milindkhandekar.substack.com | Milind Khandekar

US President Donald Trump has unleashed an economic storm by slapping tariffs on imports from around the world. Global stock markets are stumbling, and the specter of a recession looms large over the American economy. No one can predict the full fallout—but what does it mean for India? Could this global disruption be a chance for India to step up? In this edition of The Ledger, we break down the impact and explore how India could actually gain ground while the world scrambles.