Hey, this is Grant's interest rate observer of the air. Welcome, ladies and gentlemen, I'm Jim Grant, and with me, as always, is the great Evan Lorenz, the deputy editor of Grants and Eric Whitehead at the dials. And joining us today, our very special guest is James Littinsky, who is the

founder and chief investment officer in just about every executive position available at

J-H-L Capital Group in Chicago. And today's episode of Grants, Interest Rate Observer of the Air,

is brought to you by, well, money for the rest of us, a very fine podcast itself, and

linked in learning now featuring linda.com content, the leader in online earning for the past 20

years. Without further ado, welcome Jim Littinsky. Thank you. Happy to be here. Hey, Jim, we would like to talk

with you about a couple of things. One is how you see the world at large, you know,

kind of cosmically in the second, with which we will begin, is how you view India and for the

information of those who are not in attendance at the grants conference. It was the spring of 2015,

I think. Jim held forth on the kind of the country of the future, the country poised, on the brink

of capitalist emergent. That country was India.

Narenda Modi had only recently, not so recently, but he had come in to take the place in the America analogy of India with Ronald Reagan.

So, Jim, how has this story played out?

You talked about the rupee, and you talked about a couple of specific activities,

and you talked about the Indian market more broadly.

Please bring us up to date.

Sure.

So I guess since we're starting with India first before the rest of the world, I guess it's almost like having dessert before dinner.

So, and so thank you.

Thank you, being here.

And, yeah, you know, since the presentation this past March, I guess I'll start with a plug for you, Jim. I'm not sure if you're aware, but the JhL India Index that we presented this March at Grants is year-to-date up close to 29% versus the S&P, which is up 12, and the Nifty, which is up a little bit more than that, around 12.5. So we've seen some great performance from the index that we pitched at your conference. And to continue to perform over the next few years,

we view our bullish view on India. And obviously, like with anything in the markets, there'll

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