Piecing together disparate data for economic and market insights
May 19, 2026 | This appeared in the Economic Times print version on 20 May 2026 (link). The kindest take on the recently concluded US-China summit in Beijing was that the relationship has ‘improved’ from antagonism to direct engagement. That the meeting ended without acrimony was an achievement. The US has recalibrated its approach towards … Read more
This appeared in the Times of India on 14 May 2026 (link). Well into the third month of the Iran war, earlier assumptions of a short-lived conflict have now been well and truly negated. Over the past week, even as physical shortages of oil seem to have eased, the price of oil for March 2027 … Read more
The US-Israel war against Iran is rolling into unrestricted warfare — until oil and gas inventories last This appeared in the Economic Times on 23 March 2026 (link). The war in West Asia is now like a chess endgame in which one side is trying to survive by running down the clock, and the other … Read more
This appeared in the Times of India on 4 March 2026 (link). Nearly everyone expected this to be a short war. Not just those who started it, but also commodity markets. Oil prices jumped around 10% when the conflict started, much less than the reaction when Russia attacked Ukraine. This is understandable: Iran exports only … Read more
In this video, Bidisha and I discuss India’s economic outlook, focusing on the upcoming Union Budget 2026: global economic turbulence, India’s growth drivers, and critical policy priorities. Main points We discuss the significant risk posed by disruptions to global capital flows, drawing parallels to the period between 1989 and 1993. Major global players like the … Read more
How has fiscal consolidation helped bring down the cost of capital in India? What are its implications for macroeconomic stability, investment cycles, and capital markets? In NISM’s Masterclass Episode 26, Sashi Krishnan, Director, NISM, and I discuss fiscal discipline, government borrowing, interest rates, and their transmission into the real economy.
Mukesh and I discuss why we are at the start of a true golden age of Indian entrepreneurship:
Part 1: Part 2:
Post-US/EU sanctions, energy markets aren’t panicking; there’s other supply & India’s macroeconomy can easily adjust This was published in the Times of India on 25 October 2025 (link). In a change of tactics to end the Russia-Ukraine war, the US has blacklisted two Russian oil majors Lukoil and Rosneft. This is designed to prevent foreign … Read more
We discuss how the world is changing, the thawing of India China relationship, US Tariff impact on India, the US India relationship, possibility of de-dollarisation, the rise of Digital Currency, how the US policymakers are much more agile than India’s governance structure allows, India’s growth slowdown and how it is reversing, FII selling in India.