Category: Indian economy
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India’s Microfinance Moment: From Financial Inclusion to Financial Fragility
Microfinance in India was born with moral ambition. It promised to democratise credit, liberate households from moneylenders, and convert the poor into micro-entrepreneurs. In its early decades, the narrative carried the glow of social transformation—small loans, collective responsibility, and women-centric empowerment were presented as antidotes to exclusionary banking. Yet, by…
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The Long Road to an India–US Trade Compact: Between Strategic Convergence and Structural Friction
A Relationship Shaped by History, Not Habit The idea of an India–US Free Trade Agreement has resurfaced many times over the past three decades, only to stall at the intersection of economics and politics. Unlike India’s trade engagements with the EU, ASEAN, or even the UK, a US trade deal…
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India–EU Free Trade Agreement: From Missed Opportunities to a Strategic Economic Reset
The India–European Union economic relationship has long been defined by potential rather than performance. Despite being natural partners—India as a fast-growing consumption and manufacturing base, and the EU as a technology, capital, and standards powerhouse—bilateral trade has remained modest relative to scale. The renewed push toward an India–EU Free Trade…
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Manufacturing at a Crossroads: Reading India’s Mixed Industrial Signals
India’s manufacturing sector today stands at an inflection point, reflecting a familiar but important pattern in the country’s development journey. Industrial output growth has moderated, especially in consumer durables and export-oriented manufacturing, even as infrastructure-linked sectors such as steel, cement, and capital goods tied to public projects continue to show…
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External Sector at a Crossroads: When Goods Stall and Services Carry the Load
India’s external sector has entered a familiar but increasingly fragile phase. Merchandise exports remain under sustained pressure, reflecting not just cyclical weakness but deeper structural shifts in the global economy. Weak global demand, prolonged manufacturing slowdowns in advanced economies, and ongoing trade-policy uncertainty have combined to dampen orders for goods-intensive…
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India–Russia Trade Reset: Strategic Openings After Putin’s 2025 Visit
India’s renewed engagement with Russia following Vladimir Putin’s December 4–5, 2025 visit marks a decisive shift in New Delhi’s long-term foreign economic strategy. The new Economic Cooperation Programme till 2030 signals that the partnership is evolving beyond energy dependency into a structured, multi-sector commercial relationship with a clearly stated ambition:…
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India’s GDP Growth Story: Strong Numbers, Softer Foundations?A Critical Look Through the IMF Lens
India’s growth narrative today stands at an intriguing crossroads—powerfully expanding, yet increasingly questioned. The International Monetary Fund (IMF), in its October 2025 World Economic Outlook, reaffirmed India as the fastest-growing major economy, projecting 6.6% GDP growth for FY2025-26 and 6.2% for FY2026-27, despite intensifying US tariff pressures and global supply-chain…
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India’s Manufacturing Moment: From “Make in India” to “Invent in India”
India stands at an inflection point. The next two decades will determine whether the nation becomes one of the world’s leading manufacturing and innovation hubs—or remains a peripheral contributor to global supply chains. The ambition is clear: by 2047, when India completes 100 years of independence, manufacturing must evolve from…
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