TMS Ep156: Non-compete clause, AYUSH, markets, Russia's foreign default

A workers’ union has shot off a letter to the central government claiming that IT giant Infosys is using non-compete clause to prevent its employees from joining rival firms. While Infosys, on its part, said the clause doesn’t hamper employees from joining other firms. So what is behind this clause and why it may set wrong precedent? 

In their bid to retain talent, IT firms are also making space for yoga and meditation to ensure mental well-being of employees. Prime Minister Narendra Modi, meanwhile, announced a set of measures this week to boost traditional medicine. The government is now introducing a special AYUSH visa category along with a marking system to give authenticity to quality AYUSH products. Take a peek into the $23-billion industry and tells about the challenges it faces.

From the serene world of traditional healing, let us turn to bustling Dalal Street. Foreign portfolio investors or FPIs have sold equities worth nearly 1.58 trillion rupees since October 2021. Recent market activity, however, shows that even domestic institutional investors and retail investors have slowed down their trading activity. Does this mean dark days ahead for the Indian stock markets? 

A prolonged conflict between Russia and Ukraine may further spook the FPIs -- who are already on the edge. Russia’s war, meanwhile, is now taking a turn for the worse. A host of western sanctions has pushed it to the cusp of its first default on foreign debt since the Bolshevik Revolution over a century ago. Let us know more about it in this episode of the podcast. 

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