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Mamdani's New York rise: Welfarism versus populism

Mint Mumbai

|

July 01, 2025

There's a crucial difference between the two and his plan for the city might be just what it needs

- AJIT RANADE

Mamdani's New York rise: Welfarism versus populism

The 33-year-old Uganda-born son of immigrants, Zohran Mamdani, defeated 67-year-old Andrew Cuomo, three-term governor of New York state, in the city's mayoral primary poll for a Democratic party candidate. Mamdani's thumping victory has sent shockwaves in the party and exposed a divide between moderates and progressives. Cuomo has name recognition. He represents a powerful political dynasty, is a well-funded establishment figure and was backed by national heavyweights and endorsed by labour unions. Mamdani is a relatively unknown democrat socialist with a left-wing vision for the city, focused on issues of affordability, fairness and redistribution. If elected, he would be New York City's first Indian-American mayor and also the first Muslim to hold that office. His win made news in the US as a major upset that has overturned expectations and perhaps signalled an ideological shift. Mamdani was careful to assert that if elected, he would duly represent all New Yorkers.

FLERE HISTORIER FRA Mint Mumbai

Mint Mumbai

Bank-funded acquisitions won't displace private credit

The Reserve Bank of India's (RBI) draft framework for bank-led acquisition finance marks a decisive policy turn: Indian banks can now enter the acquisition finance market within a clear perimeter, reshaping the competitive dynamics between banks and private credit funds.

time to read

3 mins

November 20, 2025

Mint Mumbai

Air India lobbies to use airspace over China's Xinjiang

India-China flights resumed after a five-year hiatus.

time to read

1 mins

November 20, 2025

Mint Mumbai

Nitish Kumar to take oath as Bihar CM

JD(U) supremo Nitish Kumar to be sworn-in as Bihar chief minister for a record 10th time.

time to read

1 min

November 20, 2025

Mint Mumbai

Mint Mumbai

A fresh perspective on abstraction in art

A new exhibition in Mumbai showcases different approaches to abstraction by artists like Zarina, Seher Shah and Mehlli Gobhai

time to read

3 mins

November 20, 2025

Mint Mumbai

Govt eyes post-cut GST revenue surge

FinMin expects Nov GST receipts growth to rebound to 10%

time to read

2 mins

November 20, 2025

Mint Mumbai

PayMate pulls plug on West Asia operations

The Visa-backed B2B payments firm is scrambling to raise more funds

time to read

2 mins

November 20, 2025

Mint Mumbai

Exide's dual bet: Can lithium-ion offset a weakening core?

Exide Industries Ltd is struggling to fuel its core lead-acid business while simultaneously turning its capex-heavy lithium-ion venture into a viable second growth engine.

time to read

1 mins

November 20, 2025

Mint Mumbai

Bank-funded acquisitions won’t displace private credit

The Reserve Bank of India's (RBI) draft framework for bank-led acquisition finance marks a decisive policy turn: Indian banks can now enter the acquisition finance market within a clear perimeter, reshaping the competitive dynamics between banks and private credit funds.

time to read

3 mins

November 20, 2025

Mint Mumbai

Afghanistan trade minister seeks India investments, goods

Afghanistan's Taliban trade minister arrived in India on Wednesday on a maiden visit to draw greater investments and goods as both countries consider ways to enhance their relations in the backdrop of souring relations with neighboring Pakistan.

time to read

1 min

November 20, 2025

Mint Mumbai

Mint Mumbai

Fractal Analytics bets heavily on R&D in AI race before IPO

Enterprise artificial intelligence firm Fractal Analytics plans to maintain high research and development (R&D) spending ahead of its market debut for which a date has not yet been set, a top executive has said.

time to read

2 mins

November 20, 2025

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