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In these insular times of shrill nationalistic rhetoric, there is a danger that we may become less globalised instead of more. But internationalisation (aka I18N) is key to India's progress. The more Indian firms learn to compete in the global marketplace, the more our nation will prosper. Welcome to Episode 48 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Ajay shares his thinking around what I18N implies, how it involves more than exports, and how Indian firms can make that journey. TABLE OF CONTENTS: 00:00 Packaging 00:13 Introduction: Why Firms? 12:31 Chapter 1:What is I18N? 14:15 Chapter 2: Modes of I18N 18:32 Chapter 3: The Wonders of Exporting 30:27 Chapter 4: Everything is Everything in I18N 40:41 Chapter 5: I Am a Policy Person 47:19 Chapter 6: I Am a Manager or Investor 56:13 Chapter 7: I Am a Researcher 58:57 Chapter 8: Ajay’s Recco AJAY'S READING LIST 1. India’s Financial Globalisation -- Ajay Shah and Ila Patnaik: https://tinyurl.com/2reenvry 2. Export Versus FDI with Heterogeneous Firms -- Elhanan Helpman, Mark J Melitz & Stephen R Yeaple: https://tinyurl.com/mvvudx5b 3. Graduating to Globalisation: A Study of Southern Multinationals - Dilek Demirbas, Ila Patnaik & Ajay Shah: https://tinyurl.com/58f293xb 4. Exporting & firm performance: Evidence from India -- Apoorva Gupta, Ila Patnaik & Ajay Shah: https://tinyurl.com/45hwaeka 5. Export vs FDI in Services -- Rudrani Bhattacharya, Ila Patnaik & Ajay Shah: https://tinyurl.com/55xd9dfx 6. Motivations for capital controls and their effectiveness -- Radhika Pandey, Gurnain K Pasricha, Ila Patnaik & Ajay Shah: https://tinyurl.com/3n54yt3p 7. Did the Indian Capital Controls Work as a Tool of Macroeconomic Policy? -- Ila Patnaik & Ajay Shah: https://tinyurl.com/49m7mxra 8. Capital account openness in India and a comparison with China: Then versus now -- Nidhi Aggarwal, Sanchit Arora & Rajeswari Sengupta: https://tinyurl.com/2vyd2n6c 9. Determinants of Trade Misinvoicing -- Ila Patnaik, Abhijit Sen Gupta & Ajay Shah: https://tinyurl.com/3v5zwyta 10. The investment technology of foreign and domestic institutional investors in an emerging market -- Ila Patnaik & Ajay Shah: https://tinyurl.com/4z2yh8rt 11. Foreign Investors under Stress: Evidence from India -- Ila Patnaik, Ajay Shah & Nirvikar Singh: https://tinyurl.com/3rwdhjws 12. Foreign Currency Borrowing by Indian Firms: Towards a New Policy Framework -- Ila Patnaik, Ajay Shah & Nirvikar Singh: https://tinyurl.com/mrxet8rk 13. From domestic to global asset pricing -- Ajay Shah: https://tinyurl.com/2s3h4zyn 14. Instant cross-border payments vs. current account inconvertibility -- Ajay Shah & Bhargavi Zaveri-Shah: https://tinyurl.com/5n79ae6s 15. Cross-border activities in India need more freedom, not less -- Pratik Datta & Ajay Shah: https://tinyurl.com/2mzb6hm8 USEFUL RESOURCES: 1. Amit on Twitter: / amitvarma 2. Ajay on Twitter: / ajay_shah 3. The Seen and the Unseen -- Amit's audio podcast: https://seenunseen.in/ (Also on all podcast apps. And YouTube, though less than 1% of listens come from here: / @theseenandtheunseen ) 4. Ajay's organisation, XKDR Forum, on YouTube: / @xkdr 5. In Service of the Republic -- Vijay Kelkar & Ajay Shah: https://amzn.eu/d/hwGILb3 6. The Art of Clear Writing -- Amit's writing course: https://indiauncut.com/clear-writing/ 7. The India Uncut Newsletter -- Amit's newsletter at https://indiauncut.substack.com/ 8. Three Great Leaps by Firms -- Episode 22 of Everything is Everything: • Three Great Leaps by Firms | Episode 22 | ... 9. How Family Firms Evolve -- Episode 34 of Everything is Everything: • How Family Firms Evolve | Episode 34 | Eve... 10. From Imperial to Adaptive Firms -- Episode 37 of Everything is Everything: • From Imperial to Adaptive Firms | Episode ... 11. Lant Pritchett Is on Team Prosperity -- Episode 379 of The Seen and the Unseen: • Ep 379: Lant Pritchett Is on Team Prosperity 12. Economic Learnings of India for Make Benefit Glorious Nation of Bihar -- Episode 345 of The Seen and the Unseen: • Ep 345: Economic Learnings of India for Ma... 13. Thieves steal 60-feet bridge in broad daylight: https://tinyurl.com/3ueuvs8j 14. Pond stolen in Bihar: https://tinyurl.com/5n7mr8fh 15. They Stole a Bridge. They Stole a Pond -- Amit Varma: https://tinyurl.com/muwfbzvv 16. In Defense of Globalization -- Jagdish Bhagwati: https://amzn.in/d/85SOCQr 17. The Brave New Future of Electricity -- Episode 40 of Everything is Everything: • The Brave New Future of Electricity | Epis... Produced by Amit Varma Shot by Vaishnav Vyas & Nomsita MS Haritashya: / vaishnav.vyas Edited by Nomsita MS Haritashya: / nomsitaharitashya Thanks to Gaurav Chintamani for helping with sound: / gaurav_chintamani Chapter images & additional illustrations by Simahina: / i_am_simahina