Lord Meghnad Desai, renowned British Indian economist and House of Lords peer, has died at the age of 85. Tributes pour in from political figures and colleagues.
The University of Chicago has conferred its Alumni Award for Professional Achievement to India's former chief economic adviser Krishnamurthy V Subramanian, the first Indian economist to receive the honour since 1941.
MNS president Raj Thackeray questions the fuel consumption during recent election campaigns, asking if austerity measures are only meant for the common people.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
Petrol and diesel prices have been increased by Rs 3 per litre each, marking the first hike in over four years, as state-run fuel retailers pass on some of the impact from surging global crude prices, which have been exacerbated by the Iran war.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
India's services sector growth reached a five-month high in April, with the HSBC India Services PMI Business Activity Index rising to 58.8, primarily driven by robust domestic demand and a shift from international to local suppliers amidst the West Asia crisis.
India's manufacturing sector growth slowed to a four-year low in March, impacted by cost pressures, competition, market uncertainty, and the Middle East conflict, according to the HSBC India Manufacturing PMI.
Ashok Lahiri, a distinguished economist with experience in government, the private sector, and electoral politics, has been appointed as the new Vice-Chairman of NITI Aayog, tasked with strengthening India's reform trajectory and policy-making.
Petrol and diesel prices in India have been increased by Rs 3 per litre each, marking the first rate hike in over four years. This decision follows a period of stable prices during recent state elections, despite rising global crude oil prices and significant losses for fuel retailers.
A prolonged supply shock can transmit to lower incomes, and dampen confidence and sentiment, warns Aditi Nayar, chief economist, head-research and outreach, ICRA.
'At the first sign of real trouble, that money will move. There will be a run.'
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
A foreign brokerage warns that sustained crude oil prices above USD 100 per barrel could push India's inflation above the RBI's tolerance level, potentially triggering interest rate hikes.
India's manufacturing sector experienced a mild recovery in April, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) rising to 54.7 from 53.9 in March. However, inflationary pressures intensified, with input costs increasing at the fastest pace since August 2022, largely attributed to the Middle East conflict.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
World Bank South Asia Chief Economist Franziska Ohnsorge advocates for the removal of obstacles hindering the adoption of artificial intelligence to foster business growth and job creation, particularly in South Asia.
Aditya Puri is one of the cleanest examples we have, in Indian corporate history, of a leader who understood early that the measure of his work was not what happened while he was in the chair. It was what would keep happening when he was no longer there, says Suresh M K.
Under the TMC, Bengal has seen expansion of welfare, but not big-ticket private investment.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
India's private sector activity saw a significant recovery in April, driven primarily by robust growth in manufacturing output and sales, following a three-year low in March attributed to the West Asia conflict.
The contraction in total reserves was driven by a fall in gold reserves, which dropped $13.49 billion to $117.19 billion during the reported week.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
India is one of the few nations, and perhaps the only nation, that has good relations with America, Israel and Iran. Knowing that a war in the Gulf would damage our economy, hurt supply of fertilisers and fuel, and cause general chaos, we should have tried to ensure this war did not begin, asserts Aakar Patel.
The Reserve Bank of India (RBI) Governor Sanjay Malhotra is now confronting the classic growth-inflation tradeoff, a situation exacerbated by the West Asia war, which threatens to end the 'goldilocks period' of low inflation and robust growth.
The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
Goldman Sachs has materially lowered its earnings growth forecast for Indian companies by a cumulative 9 percentage points over the next two years.
India's services sector growth slowed in March, reaching a 14-month low, according to the HSBC India Services PMI. The slowdown reflects weaker new business intakes and rising input costs, particularly in fuel, transport, and logistics.
India's new manufacturing project announcements more than halved in the fourth quarter of FY26, falling 60 per cent sequentially and 78 per cent year-on-year to approximately 1.7 trillion, driven by global uncertainties, geopolitical conflicts in West Asia, and existing unutilised manufacturing capacity.
Trump may strike. He may announce productive talks and extend again. He may do both at the same time. Iran will not open the Strait on someone else's terms, so no matter what happens, that problem will remain unsolved. And the IRGC will still be collecting its $2 million toll from every ship bold enough to ask permission to pass.
The benchmark BSE Sensex's trailing 12-month price-to-earnings (P/E) multiple has declined to 20.2x, its lowest since May 2020, driven by a record $42 billion FPI selloff since September 2024 and concerns over corporate earnings and economic growth.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
'After the Galwan clash, the rules of engagement changed with the army commanders allowed to use any means at their disposal as they deem fit for tactical operations.'
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
The United States, which entered this war in expectation of a short, sharp win along the Venezuela model, is now preparing for deeper involvement in a conflict it does not fully control, without the allies it typically relies on, against an adversary that is not behaving as expected, in a global environment that is already absorbing economic shock. Prem Panicker continues his must read daily blog on the Gulf War.
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