Healthcare, Tourism Sectors Key Foundations of Developed India, Says Modi
Prime Minister Narendra Modi highlighted healthcare, education and tourism as pillars for a developed India, urging reforms and stakeholder collaboration. He stressed expanding telemedicine and training youth for the burgeoning "care economy," which could employ 60 million people and generate a $300 billion market by 2030. The FY27 budget allocates resources for caregiver training, medical‑tourism hubs, and a National Institute of Hospitality, while the New Education Policy aims to align curricula with AI, automation and the digital economy. Modi also called for greater women’s participation in STEM fields.
Oil Surges Past $100 as West Asia War Escalates, Raising Supply Fears
Global crude prices jumped ~20% on Monday, breaching $100 per barrel as the West Asia war escalated. Brent hit $111 and WTI $114, driven by the near‑closure of the Strait of Hormuz and production cuts in Kuwait, UAE and Iraq....
Japan Seeks Exemption From US Tariff Hike Amid Trade Concerns
Japan has asked the United States to exclude it from a planned tariff hike that would raise duties from 10% to 15%, warning that higher rates could damage its auto sector and jeopardise the $550 billion Strategic Investment Initiative tied to...
US-Israel-Iran War: JMIC Data Shows ‘Near-Total Temporary Pause in Routine Commercial Traffic’ Through Strait of Hormuz
JMIC data shows routine commercial traffic through the Strait of Hormuz has virtually stopped, with only two cargo vessels recorded in the past 24 hours versus the usual 138. The pause follows a U.S.–Israel strike on Iran and Iran’s retaliatory...
IMF Chief Says Ready to Act if Countries Crippled by Middle East Conflict Need Help — ‘We Recognise Our Responsibility’
The International Monetary Fund announced it is prepared to assist nations whose balance‑of‑payments are strained by the escalating Middle East conflict. Managing Director Kristalina Georgieva warned that higher energy prices could lift inflation by 40 basis points and shave up...
1,000 Kg of Venezuelan Gold Headed for US Markets? Report Reveals Massive Deal Brokered by Trump Officials
Venezuelan state miner Minerven has signed a deal with the Trump administration to supply between 650 and 1,000 kg of 98 % pure gold dore bars to commodities trader Trafigura for the U.S. market. The agreement follows President Donald Trump’s recent removal...
The Week in Charts: GDP Growth, National Monetization Plan, IT Troubles
India’s economy grew 7.8% in the December quarter, a deceleration from 8.4% in the prior quarter, driven by weaker agriculture, non‑manufacturing output and reduced government spending. The statistics ministry’s revised base year projects FY25‑26 GDP at 7.6%, up from 7.1%...
India's Energy Demand to Surpass US by 2040s and China by 2060s, Report Reveals
Shell India’s new scenarios sketch projects that India’s total energy demand will outpace the United States in the 2040s and overtake China by the 2060s, driven by rapid economic and population growth. The report shows the fossil‑fuel share in the...
Goal Is to Remove Fear of ‘Tariff Wall’, but Can’t Rush: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman said the 2026‑27 budget will lower tariffs only after a detailed sector‑by‑sector review of protection duration and domestic capacity. She emphasized removing the fear of a “tariff wall” while avoiding rushed cuts that could harm...
Cabinet Approves Infra Projects, Farm Benefits of ₹12,236 Crore
The Indian cabinet approved infrastructure projects worth roughly ₹12,236 crore, covering rail line expansions, a new civil enclave at Srinagar airport, and a metro extension in Gujarat. It also raised the raw jute minimum support price to ₹5,925 per quintal, a...
In Big Boost, Cabinet May Approve Critical Minerals Pacts with Germany, Canada: Report
The Union Cabinet is set to approve Joint Declarations of Intent with Germany and Canada on critical minerals. The agreements will target joint exploration, sustainable mining, supply‑chain resilience and technology transfer for minerals such as lithium, cobalt, nickel and rare...
Trump’s 10% Global Tariffs Take Effect After Supreme Court Ruling; 15% Hike Under Consideration
President Donald Trump enacted a 10% global tariff on Tuesday, following a Supreme Court ruling that invalidated his earlier sweeping duties. The administration is preparing a formal order to lift the levy to 15%, though a timeline remains unclear. The...
Too Soon to Comment on US Tariff Change Impact on India, Says FM Sitharaman
Finance Minister Nirmala Sitharaman said it is too early for India to assess the impact of the U.S. Supreme Court’s decision to overturn Trump‑era global tariffs, as the commerce ministry continues its review. She also urged banks to refocus on core...
Quote of the Day: ‘Benefits of Tariffs Are…’ — What Milton Friedman Said on Protectionism
Milton Friedman’s 1980 warning that tariffs show visible benefits but hide widespread costs resonates amid recent US‑China trade frictions, where higher import duties have pushed up consumer prices and strained global supply chains. At the same time, India and Brazil...
Discussions for India's Full Membership of IEA Underway
The International Energy Agency has opened formal discussions to grant India full membership, building on its associate status since 2017 and a 2023 request. Ministers from IEA member states agreed in February 2024 to start talks, signaling a push to...
Former US Presidential Candidate Has an Alarming Prediction for Your Job — Salaries Are About to Go Down
Former presidential candidate Andrew Yang warned that artificial intelligence will sharply reduce salaries across the workforce, affecting both white‑collar and service‑sector jobs. In a Substack post he cited examples from dry cleaning to coding, predicting millions of layoffs within 12‑18...
No Reason to Believe India Has Changed Stance on Purchasing Crude Oil: Russia’s Foreign Ministry
Russia’s foreign ministry asserted that India has not altered its policy on buying Russian crude, emphasizing the mutual benefits of the trade. However, Indian import data for January 2026 shows a 40.5% drop in total merchandise from Russia, with crude...
India Seeks New Steel Export Markets in Middle East and Asia to Offset EU Carbon Tax Impact: Report
India, the world’s second‑largest crude‑steel producer, is pivoting toward the Middle East and Asian markets to cushion the impact of the European Union’s new carbon border adjustment tax. Roughly two‑thirds of its steel exports currently flow to Europe, where the...
RBI Eases On-Lending, Current A/C Rules in Final ECB Framework
The Reserve Bank of India released its final external commercial borrowing (ECB) framework, removing the mandatory "current account" condition for banks to become designated authorized dealers. While the RBI clarified that ECB proceeds may be used to purchase land and...
India-US Trade Deal: Indian Chief Negotiator to Visit US Next Week to Finalise Legal Framework for BTA Deal
Indian chief negotiator Darpan Jain will lead a delegation to Washington next week to finalize the legal framework of the bilateral trade agreement (BTA) with the United States. The interim agreement announced on Feb 7 reduces U.S. tariffs on Indian exports...
Higher Imports Push India’s Trade Deficit to $34.68 Billion in January
India's merchandise trade deficit widened to $34.68 billion in January 2026, driven by a sharp rise in imports to $71.24 billion, especially petroleum, gold and electronics. Export value fell to $36.56 billion, with shipments to the United States slipping month‑on‑month despite overall annual...
India's Wholesale Inflation Rises to 1.81% in January
India’s wholesale price index (WPI) accelerated to 1.81% year‑on‑year in January, up sharply from 0.53% in December. The rise was led by higher food prices, while falling fuel costs provided a modest offset. Although the Reserve Bank of India (RBI)...
India Can Lead Globally in AI: Ahead of Delhi Summit, CEA Nageswaran Explains How
Chief Economic Advisor V. Anantha Nageswaran told the AI Impact Summit 2026 that India’s ascent to a global AI leadership position will not happen by accident. He emphasized that sustained political will, robust state capacity, and a national commitment are...
India's Forex Reserves Drop $6.7 Billion to $717 Billion, Gold Reserves Dip, Reveals RBI Data
India's foreign exchange reserves slipped by $6.7 billion to $717.064 billion in the week ending 6 February, after a record high of $723.774 billion the week before. The decline was driven mainly by a $14.208 billion drop in gold reserves, which fell to $123.476 billion, while...
Trump, Netanyahu Back Plan for US Pressure on Iran to Cut Oil Sales to China, Agree to Go ‘Full Force’...
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu have agreed to intensify economic pressure on Iran by targeting its oil exports to China, which account for more than 80% of Tehran’s sales. The coordinated effort is intended to force...
Cabinet Approves India’s First Underwater Road-Rail Tunnel Project in Assam
The Indian cabinet has approved the nation’s first underwater road‑rail tunnel, to be constructed in Assam across the Brahmaputra River. The project will link Assam with Arunachal Pradesh and Nagaland, streamlining freight movement and lowering logistics costs. Officials say the...
Why Does India Need More Energy Suppliers? Union Minister Piyush Goyal Explains
Union Minister Piyush Goyal warned that India’s rapidly expanding energy demand requires a broader base of crude oil suppliers. He argued that additional sources are essential to keep import prices competitive and to shield the economy from supply shocks. The...
Andhra Pradesh Budget 2026-27 Worth ₹3.32 Lakh Crore — What's in for Women, Govt Employees, Health, Agriculture
Andhra Pradesh unveiled its FY 2026‑27 budget at ₹3.32 lakh crore, marking a roughly 8% increase over the previous year. The plan earmarks substantial allocations for women‑focused initiatives, government employee welfare, health infrastructure, and agricultural support. Health spending is set to rise 15%,...
India Reopens Wheat Exports After Four Years
The move follows a review of stock and price conditions.