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The Caravan

Issue : September 2016

By Delhi Press

Published on : August 30, 2016

Published Monthly | 38 issues

Art & Culture Entertainment News

Price 75.00

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The country’s first and only publication devoted to narrative journalism, The Caravan’s stories present a unique mix of detailed reporting, lively and vivid writing, and a commitment to the art of storytelling whether the subject is politics, culture, travel or art. Our artfully constructed stories are based on months of reporting and research, and are crafted into dramatic narratives combining the excitement and immediacy of great literature with real plots and real consequences.

Drawing on the tradition established by magazines like The New Yorker and Granta, The Caravan fills a niche in the Indian media that has remained vacant for far too long. It caters to a new kind of reader, one who seeks a magazine of exceptional quality, style and substance.

In the November issue, Dinesh Narayanan tracks the downfall of Jignesh Shah, the controversial billionaire who transformed India’s commodities market. After founding a successful trading-software firm in the early days of India’s market liberalisation, Shah established multiple lucrative trading platforms, including the pioneering commodity exchange MCX and the spot exchange NSEL, that operated in the crevices between official regulatory agencies—seemingly overseen by multiple bodies, but effectively overseen by none. His personal worth topped out, at above $1 billion, in 2008. But regulators shut down the NSEL last July, had Shah arrested this May for supposedly illegal trading on the bourse, and forced another of his companies to assume financial responsibility for the fallout, threatening an end to his entire empire. Shah’s tale is a parable of how far India still has to go in establishing capable institutions, free of bureaucratic and political tampering, that can ensure the health of the financial markets crucial to a robust market economy.

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