the whole 9 mozy, but the yale nipples is, and they said it was the non unable 0 i think it's an investment in new right now and get it on the roll as well. i mean, there is no, nobody wants to be left behind a, we have some of the most successful merchant national companies and you, in the same companies, i'm not seeing this kind of money in china, i think as a whole. and i always felt i was a bit of a full, efficient and bully that there was people are, they were just waiting for me to feed maybe to, you know, i mean, the mention the fact. i mean, most of my career i've spent positioning in deal because i worked with foreign bags and a lot of my work was trying to bring capital into the to hello and welcome. my name is arnold from kids. come to my show in this w and an uncertain world of today. the focus now more than ever is on india bought

a guess today is the form of the country head of at sbc and the next president of the federation of indian chambers of commerce. and industry may not allow the kid why isn't indian banker chartered accountants and business executives. she was not only the 1st indian woman to get an m b, a from harvard business, but also the 1st woman to lead a foreign bank in india. and she has served on various boards and has been involved in the numerous role as an advisor for the indian government, including the prime ministers, trade and industry council. in 2013, she was awarded the pod mustering one of india's highest civilian honors for her contributions to trade and industry. nina is a strong advocate for ginger diversity in the workplace and is deeply involved in philanthropic activities, particularly in the fields of health care and sanitation coming in

a lot of good. we thank you in such an honor to be here with you today. no, i'm so happy. i'm so happy that you have come. you come from a legacy family. what was it like growing up? well, i would love to say that i was fortunate to have of a progressive parents of father and mother who delighted in the achievements of mine and my sister who went on tools to become india is needing golfer and his students. one of them does needing a coaches in gauze and that are janelle woody. and in my case, my sort of tragic g much more into the finance of my father was the you of an insurance company. so she took the golfing gmc, was an absolute because fanatic, and i took his financial jeans. oh, and i think the listen for a lot of us is how important father is in the she being all of us goes as we go up itself and just lift mother's it's left to y to families because the funds are busy

as they're working. but i put together a book i knew from co t women and thought, okay, their voice has their stories. and almost with one voice, every one of these women that she was the biggest influence in their life was their father's. and what was the strict in his teachings annoyingly to you, or was he affectionate? loving. how is it a matter of great integrity, very busy, affectionate, but not physically, demonstrably sober to boy who is there for me. and though i had a lot of influences though, that were very not content in nature. so at every stage of my career, particularly i wanted to go off to do it. and then be at the harvard business school. and because we're in detractors and sort of trying to influence my mother into, you know, she's just 22 years old and i'm going to send her off to the us. you know, she's never come back. she get married to a foreigner. no, it does. all of this nonsense and luckily, luckily, had

a father who understood my aspirations for myself and the mother who didn't let any of this getting the week. and the good part of it is because i had all these nice fields of how it was going to be a waste of money and time that i was out to prove them wrong to do it wrong. so it's head sometimes to have those negative influence or yeah, because they can become big, positive and light. and you're the 1st for me to go to harvard business school, how it's being and, and then women in less than 1982. huh. well, you know, i didn't go, they knowing i was the 1st step one month into the school having started, i was someone to the office and i thought, oh my god, those men executive. okay. i don't know what have i done. and the, the was, they gave me a little check and they said you were the 1st indian woman and you know, the business school is amazing. so, so that's how i know about it when i was there in the eighty's. so this was 90 need to 3 to 2. it was very little news in india and for the television those days you

relied on newspapers. the only reporting on india was about family lives in floods and poverty. and we have a scene as a nation of sneak thomas and advocates on not for what we are doing today. oh, so a lot of energy and time on my part to mentioned to educating my classmates in to what we are about. and the 2 visas that they used to be taught at the harvard business school and the 2 and a half cases that they had at the time. whereas is how corporate struct auto india and ibm had to even deal in the days when we, when we close with the federal dad solutions to fire change regulation act with indian companies. and the foreign companies were not allowed to hold more than 40 percent. so it was a very negative treatment and understanding of india, even at the business school today, that same business school has a research center in, in do and let's name cases and some of the important clauses happens on indian cases. i mean,

most of my career i've spent positioning in deal because i worked with foreign bags and a lot of our workforce trying to bring capital into india. and it used to be in a post story trying to sell it in this story. you know, 2515 years ago. what do you think the perception changed because of india to new york, they're becoming more educated about to deal with multiple studies elective to the left to, to and read to became a lot of clicked on 5200. i'm just happy to to, to the, the, the big change and 1992. i mean in the opened up yes. and with that opening came a marketing of india, a broad, the desire to bring capitalist into india, both in terms of what we call for an institutional investors into our capital markets. but also the foreign direct investment companies being actually invited to come in and looked at change. i think we've been able to ensure that those

that have tom has made good money, have stayed hill. we have some of the most successful merchant actually companies they knew into what the same company is. i'm not me of this kind of money in china . we look at the success stories and some things like geneva or in india, in this, on the verse and the scale of the engine operation, which is, you know, easily a quarter of what's needed globally. or even banks like i worked with with india. i was amongst the top 5 even when i will see you of the bank of top 5 in the h as me see system in terms of profits and performance. i'm equally to do, you know, maybe rising to be amongst the top treat. so the subsidiaries that are in deal in successful m. n c's, a very important subsidiaries of the multinational companies and the success stories as watched by others. so see what if they can do it? so can we, right? and so we can get more and more the excitement to come in and invest in our story. and right now india is on the road. i mean, there is no,

nobody wants to be left behind, but it will be a really beautiful point. and history, which the muskrat with both hands. i totally agree with you. what you went into banking hope chauvinistic was the environment when you started really, you know i, i have to see that icon feeling that i was discriminated. ok in any way. i think the business school degree helped me because it was sort of a top of great ability. of course, i was also fortunate to be working in investment banking. me where you kind of sink or swim based on the data to do it to the office which has succeeded, was it to me? so it was hard for bosses to dispute what you had done because it was your dean and nobody else could. you really came credit for it. so i think for these factors helped me if at all that was sort of strain which was much more of an india in the corporate was, it was a hierarchy to me and that tends to go more to age. if you be young,

me was creating more of a challenge and trying to move it into which was a matter of dr. see, to get rewarded for which one did not for the age that just went in the company was probably more of a challenge than know the agenda thing. so what was your driving force? what was it that does make you go for it? i just felt every time i met other people and who was successful in good, i did with many listen, seem to know me. and i would often think when, if he or she would do it in prison more he's and she's been why not i, what does it take me to be there? the big driving force, of course, often was denise is the people who would say, oh, i mean, you know, she's a woman. so she's a lightweight or the own codes and had said in the past that education is ways from energy and time. she has to get them married, so it's the nice heroes at every stage that i guess have an order to be competitive

. i paid a lot of sports. i was out there to get those. if have it is good. but i, i paid basketball for the school for the state. i played badminton for the school in state. uh so yeah. so primarily those 2 games, but then monday i gave them up soon after college. but the competitiveness of knowing what it seems like to renew, stayed with me and i think that drove it to that. it was always a little bit of i can get the if i want to, if i were cod. and so there was always encouragement at the homefront to help me drive my says into directions that i felt to important for me to all, to do, dealing with failures in the early stages of your life. very bad, very bad. think because you feel as juvenile and you're ready and secure and unsure of your sense as a young person, you may not show it to me, but he just thought i'd a video feels like this has to collapse. this is june, steve. and i think as a roland, i always felt i was a bit of

a vision and boy that they were people or they were just waiting for me to feed maybe the one who, you know, i mean, the mention the bank. so you felt that you sort of let down all of them and kind of not just yourself and that put a hell of a lot of stream on one. so i see if i hadn't had that i might have had more fun than i have. i have to seriously, in the process, but uh, i think at the end of the day i learned at the, again, my father was a big thoughts with an influence to really help me understand that celia was always the list going forward of it. it was only a feeling if i didn't know, and with the lesson. and some of the most interesting turning points in like 3 of a points with which looked like female. mm. but when i looked back, actually shaped, which was a very important mix, still, vickers. so my says,

how does the banking and cooperate in the scene and get changed over the past few decades of how i go about. i mean, when i entered the industry, we made of fortunes on sarah di uses, which was company's di, noting the shares in india and going out. and today it's absolutely the reverse and bear with me one company is to come into india. when i started my career, we did not have 2 stock exchanges. the bond based off the exchange was refusing to change with the times to improve us had issued the ideal of setting up a new stock exchange and hence use for the in this seat. yes. come up because we just could not get the order to change. and so the innocent came in and so we took them on based off the exchange. and that for the moment still could change to change. we had stocks, shares certificates, which will buy it up. invoice move fort myers because of the people this to which has been the whole stock exchange corporation of india. maybe had every

certificate had to actually move in. can just this is more and we have a lot of scans. as a result, you have to click it certificates floating around what it was so much that was different. but we weren't able to bring a lot of change of views with difficulty that we were doing $400.00 corps and to the, you know, the 1000 towards us from and l. i see it show that market has already observed. so the scale of what we are able to absorb to be an adult with a name deal because people like you and me are putting money into the stock market and putting it into mutual funds. and these funds now buying these shifts, right? which otherwise we used to wait for forward and capital july. i remember that we were looking to do a 100 deal bond for lines in the seas when i was at morgan sandy and no other firm

had done this in india. and we struggled to make sure that it could get off the ground and when the reliance could really do it, and it did, but from day to maybe up to date in terms of addictions that's happening in the markets. so it's not just in a quick story for us, we need to do more. but the success of our capital markets, the steals on banks and i, c, i, c, h, e, a, c, a v is banks to deem to not exist as banks, right? when i started my career, i see i see i was a project finance institution. imagine you put the money in which bank did you to in terms of equity. yeah. you know, because i work for a bank, we didn't invest in stock. so my principal of this was no conflict, so i only have invested in mutual funds. i didn't trade on the self market. yeah. and what do you think are the advantages of india's finding sector today? the advantages, i think the biggest advantage is derives from the high savings rates in the country

. but also from the fact that we now have, what can i launch bags. and this is particularly true of the private sector banks, the strength of the i, c. c, as each day of c's. actually, this particular hundreds, these banks coming to the system. also the scale of a steep bank that we can do at the public sector backs. uh, if at all i have some of his vision and seeing that it is absolutely the id, the banking system, it is that we have to pay for it as of a banking system is with public sector banks. and i would certainly like to see some of that shareholders do that sort of dilute down either. so what was being promised, some privatization over to the group of the private sector doesn't have to meet some shrinkage on one side to can be to growth. and the other so that we get a little more balance into the system. but so this, this principle of bags today and the law not performing assets or not in fairly

good shape. so next question is very important for me personally. what you'd indian to invest in today to be there tomorrow. but i think it mentioned investment in new uh, goes is not about investing abroad. and these fortunately, limited money, budgeted school abroad. i think for each of us, it is uh uh, at one level. of course, if i can go over you from financial markets, it's education, it's our culture out. it's everything that is the south side of india, which actually is football foot in a global context. i mean, it goes north for bollywood and before we even known for anything we were doing the financial hawkins quite honestly. yeah. i mean even in china and russia, you name these countries in india was known for the fillings, it was making. oh for odd for her it was not becoming a soft file. means we were known that oh yeah, for them like snake john was in india and they thought they didn't send them. i is only about dancing around the trees and things like that. yeah. and it is and for

the good excited them about in the i was it's poverty and send them. oh yeah. it's uh, you know, it's the back door and they said something like that. the subsidy 3 isn't. yeah. yeah. they would classics. they what amazing but yeah i, i feel that the send them off and they present it outside should be send them up in the afternoon. yeah. and i'll prove, i've got to tell them that is coming through it. is it, does it seem yes, a lot more thoughtful and it's so important because it is a fortune of what india is today. yeah. and i think if we can continue to invest in all of the course general is what you would find the invest in to do the digital model. yeah, so i think we have the state. okay, so even though it was the land in short supply and just the sure special population, but we have to have, i think about in sports. and so the idea would be, you know, maybe a put in real estate as heard and ditch instruments. i put in the equity and

a little bit in maybe the commodity markets like for that citrus. so you end up with this balance portfolio. and i would say it's best to do it for mutual funds. and that's what's really happening. people are investing to fix and that whole money is helping and do because even when do with capital went out. this is the 1st time in history that when buddhist capital markets reacted with money when dealing in deal, we did not see our stuff markets because we had enough of domestic savings coming through of a 6 and the buying that is happening into our mutual funds. so our mutual funds through the gap is always an as an opportunity to buy a share price as fit. and this is what we call in that material market. it's domestic saving, domestic money, which is fair, has been pop up all markets. we're not over dependent on foreign capital it anymore . how much is the role of the government doing that? i would like to say it's really, there's

a lot of companies that companies have to do with markets to grow up, and government can shout from the rooftops. but in my company's going to where it's no markets won't go up. the government creates an ecosystem for the companies to do it. right? the government has to create an ego system where it's regulations don't keep jumping and changing, which makes it hard for them. the one on the corporate sector to keep up, but also for investors to have to understand the tax and the payments. and we did a lot of shopping and changing which put all foreign capital because they just put an understand tax the on the point. and there was too much litigation, their own tax, which means a lot of funding capital unhappy. and we do have some dependency on private equity, which is money that comes in in large chunks into our companies, and been going to need for institutional investors investing here. and we have to say goodbye to the teams like for the phone at the time the tax mess we got us headed into with the retrospective taxation. and the heart of the reputation we

created for us is with the fact that we could come in would risk retrospective sax . so visa, hard lessons and lessons been known to by us and which i'm show even known as in do some governance rule has to be about fan is a just is a quick resolution of problems lending a hill to things that are not so happening. being able to solve for that uh, making sure that they play a very fast system that we do is create an on even playing field full in favor of some reason. the others as though they knew the corporate. it's just what they do best, which is the run they companies, they make sure that they create what they make sure that they put the community spirit to corporate. and if they don't do it right here, one of them, oh, you make sure that they get find me, gets to tools. and david and the justice system has prepared what? so what government in this, in our institutions,

which would be the strength of and get tomorrow one. so how important is the corporate social responsibility initiative? the csr it serves very important. i think when csr 1st came in that to be taught who, how do they come in? just as human as legislation of having said that, there was a village tradition among indian companies in giving yes, like does belong that they have for very long, even without regulation, you know, being give us into society. what did change was when became a regular nation, that those that weren't in there had to know thoughts with 2 percent of their profits into areas that were important in terms of community and community development. i think it gave a whole new focus to the rig companies sold themselves, and many companies initially just throw checks between jews and they've begun to feel to be shipped to more. so the engagement of companies in actually monitoring

and working down at the grass roots began to change. and in fact, one of the areas i'm working in now, which is inside edition with the ministry of drinking water and sanitation. so you can just send additional coordination, which is an engine which i started. and what we're doing big is with the corporate sector of going in and adopting models, images down at the grassroots where the government has said, we don't need your money. if the corporate, we don't need to money, we have enough money sitting in the system to help these villages become model villages. the ones you're in the corporate sector to adult. these villages to make sure that we can take all of the boxes of what goes into a model village, and then you can just make sure the execution happens. we've had the 1st 10 culprits come forward in this program. they've adopted these villages to make sure

that they become one of the villages and the next phase of the program. we have another 54 parents coming in saying, hey, if we liked the success of what you've seen, this is a top public private partnership. we would love to play a role to hasn't government spending money in segmentation in war 2, in the villages. it'd be bulkhead or the village is the sound effect. cheese or the villages that have both in to us. and so it's a national program, and i think this is what we want. but if you citizen and re corporate, takes the responsibility to make sure that money that needs to be spent in particular ways and then money that's sitting there and on getting spends gets spent. so tell us about the invest in addition collision and the impact it has had . so my work is really sanitation for to it impacts women in a very big way as you can imagine, what a such and so forth, a subject for women. but the area we work, it is really more to do with the bringing what was initially this like product

missions, program and i started and decided it is going to some just 6 months before the prime minister announced the switch by that mission. so just to look at, be moved from behavior change and toilet building inventory. let's make sure people use them. you get them to make the toilets. but now it's a lot about treatment that what goes into the, to and it needs to be treated otherwise goes right back into the feed, a ride back into our water bodies right back into our rivers untreated. and it's the same mess. mice will let people mess it up in the 1st place. yeah. for the treatment side of it is very important in the government or the huge program on that too. and the mommy gun the gun geez. but also at each village level how, how the seat debrief comes from the door and how do we recover water and how, which is called the waste. fortunately, company program at no cost increase management. i mean the last to, every way, it's also just thoughts. it's something that if we can, donal, it can be viewed,

it can be used for fewer, it can be used for recycling. it can be used in methods which we have get to discover. but what do we do? we just, it every way rather than collect it in a way that they can be used. so this journey for and it's going to be a very important one on how the cover at the site and waste everything with it sewage, whether it's water, whether it's plastic so that we can really have a clean, hygienic, in deal one way beyond fully sick. all the time we have women benefit in particular because via the caregivers, the other one is left to stay at home, low cost and sick children. the other ones have to fetch water for months. and at the end of the day, just of the proud of the nation, we had because it would be a keen and dream in depth. so apart from your father, who has been years or older, margaret or mentors or if i may ask, is what so many for me because to life one doesn't just learn from one person.

yes. if every person one comes in contact me, i mean i learned from my executive assistant who at the height of the rides and bomb b, and b will only being advised not to come to office and, and i was in the senior road. i don't have to walk off the we go to office to find that my executive assistant today and should come from bend of so you know, november all the way down to the 4th to ill. i'm leaving a tier to a child with a neighbor, and i was like, what on earth think you're doing him? but do need the chief search was he? i put you would be here and you would need me. i mean, i was like this. she had every excuse not to come, which is here, and people like her. it's an individual who brings all that like d. o the know i think people just bear with me a little. i'm sure i'm sure that, but i don't think it's when we chatted,

but she had the hardwood boss. she would have not done that. i would like to pay the heart of the motion. we have color to fill that side but but so what insurance? and then i was like, what might think twice about what am i trying to do coming to office? i mean i came in track bad. i came with my sneakers. so if i have to run back home, i'm just going to get back up and wondering why i'm doing this. and i mean, look at the lesson. she said, so i think we take lessons every day from so lots of the p d would save off. and the goal is, you know, and you see, and you come back with the such enforcement of thoughts of what you want to me. so yeah, i think mentors that meeting and having to do the thinking that a lot of good. right. thank you so much and thank you for watching. and joining me next week for another 15 conversation and let's talk about it almost. the,

the 1st 3rd of the 19th century was marked by the aggressive expansion of the united states. the american sought to seize as much territory for settlement as possible. ignoring the sovereignty of the new during states and the interests of the indigenous peoples in $1845.00, washington, and now the annexation of the mexican texas. and in march, 1846 american troops invaded mexico. however, mexico itself did not have enough means to effectively confront the enemy. besides, it was being torn apart by internal conflicts. the americans manage to turn the tide of the war in their favor. in september 18, 47, the u. s. army captured mexico city. mexico was horse designed

a humiliating peace treaty according to wait to get lost 55 percent of its territory. vieques agent of the lands to the united states lead to terrible consequences, bloodshed, genocide was committed against the indians in california. during the 1st half century of the american ruled, the number of the indigenous people in the region decrease from 150216000 people. slavery, which had been abolished in mexico long before the united states attacked was restored on the occupied territories. this will later become one of the reasons for the civil war in the united states themselves. nations like individuals are punished for their transgressions. we got our punishment. american president ulysses grant wrote about the consequences of aggression against mexico several decades later. the

time, not sooner than say, welcome back to going underground broadcast to go around the world from you. a newest member of one of the world's largest economic blocks breaks along with saudi arabia, ethiopia, and roman egypt. the new members will be attending the f us to have a 2 day break summit tomorrow in the russian city of cause on the long side, original members in global south power houses, brazil, russia, india, china, and south africa as well as representatives from over 20 other countries, members of the rivals circle genocide, 7 block along side of the nature of nations and allies with.