This paper presents an ethnographic study of a redevelopment controversy in Delhi's old city. It considers the perspectives of traders, hawkers, politicians and officials on the proposed revamping of the Meena Bazaar. The paper illustrates how hermeneutic and aesthetic dimensions suffuse public and political life in India. Specifically, sincere intentions, evoked in speech and performance, are seen as a prerequisite of public presentation and as a locus of interpretive scrutiny. In an ambiguous and indeterminate milieu, promises and motives are probingly assessed, often in ironic and dramaturgical form. The paper foregrounds the ‘hermeneutics of the bazaar’, an interpretive sensitivity to intentionality, and ‘structured sincerity’, the efficacy, and reflexive steering, of performed conviction.