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India’s External Sector: Playing the Long Game in a Fragmenting World
India’s external sector in 2025–26 stands at a moment where history, geopolitics, and technology intersect. The world economy is moving away from hyper-globalisation toward fragmented blocs, supply-chain realignments, industrial subsidies and weaponised trade policy. Chapter 4 of the Indian Economic Survey 2025-26, titled External Sector: Playing the Long Game, captures…
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Monetary Management in Transition: India’s Regulatory Touch in a Fragmenting Global Economy
The Indian Economic Survey 2025–26 marks a decisive phase in India’s long journey of monetary evolution. From the license-permit era of the 1970s to the post-liberalisation financial deepening after 1991, and from inflation-targeting adoption in 2016 to the digital acceleration post-UPI in 2019, India’s monetary system has continuously reinvented itself…
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Fiscal Credibility at a Crossroads: India’s Consolidation Agenda in Economic Survey 2025–26
India’s Economic Survey 2025–26, Chapter 2—“Fiscal Developments: Anchoring Stability Through Credible Consolidation”—presents a decisive shift in the country’s macro-fiscal architecture. At a time when global economies are battling fiscal profligacy, debt overhang, and costly geopolitical uncertainty, India’s strategy seeks to build a new fiscal compact driven by credibility, transparency, and…
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India’s Growth Frontier in a Fragmented World: A Critical Outlook Based on Economic Survey 2025–26
India enters FY26-27 at a rare intersection of structural stability and global turbulence. Chapter 1 of the Economic Survey 2025-26, “State of the Economy: Pushing the Growth Frontier,” captures this paradox sharply: while the world remains caught between tariff wars, geopolitical realignments, and supply-chain volatility, India’s domestic engines continue to…
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Fiscal Policy Is Carrying the Growth Burden
For the first time in decades, the global economic cycle is being shaped less by the movements of central banks and more by the decisions of fiscal authorities. With monetary policy constrained by high inflation, elevated interest rates, and limited room for further tightening or easing, governments across both advanced…
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The Final EU–India FTA: A Historic Breakthrough and Its Deep Impact on India’s MSMEs
When India and the European Union formally announced the conclusion of their Free Trade Agreement at the 16th India-EU Summit in New Delhi, the moment marked the end of a negotiation marathon that began almost two decades ago. Now widely described as the “mother of all deals,” the pact connects…
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Global Growth Enters a Low-Gear Phase
The world economy is entering a distinctly different phase—neither overheating with inflationary pressure nor collapsing into recession. Instead, global growth is settling into a low-gear, below-trend trajectory that reflects structural adjustments across major economies. This new normal challenges the assumptions that shaped global policy, trade flows, and investment strategies over…
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Challenges of Quantum Computers for the Current State of International Economic Systems
Quantum computing is no longer a distant scientific curiosity—it is becoming a strategic, geopolitical, and economic force that could reorder global hierarchies. While the technology remains in its early commercial phase, its disruptive potential has already begun testing the resilience of international economic systems built on classical computing, secure communication,…
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