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Gulf Conflict Reignites Global Anxiety
For those of us old enough to remember the 1990 Gulf War, the current moment feels eerily familiar. That conflict was the first true television war, beaming graphic images of guided missiles and live trench coverage straight into our living rooms. It began when Iraq, then ruled by Saddam Hussein, invaded and occupied neighboring Kuwait. A...
India Must Strive For Reform Not Better Trade Bargains
The US Supreme Court’s recent ruling striking down President Donald Trump’s tariffs as illegal—rejecting the administration’s expansive reading of the 1977 International Emergency Economic Powers Act—has granted New Delhi an unexpected, albeit temporary, reprieve. Although Trump quickly bypassed the ruling by invoking Section 122 of the Trade...
India’s AI Ambition Meets Analog Limits
French President Emmanuel Macron was spotted jogging along Mumbai’s Marine Drive on Tuesday morning, cutting an almost solitary figure against the backdrop of the Arabian Sea. There is perhaps some wisdom in a prominent head of state pacing himself, focusing on acclimatisation rather than speed. It is a lesson the global markets—and the...
Gold And Silver Havens Crumble In New Era Of Market Volatility
Market gravity has a way of reasserting itself, often without warning or a clear explanation. Just ask the crypto faithful. Bitcoin, an asset we don’t track much and for good reason, recently suffered its largest weekly decline in over three years, tumbling 16% to $70,008, a staggering 45% retreat from its October peak of $126,273. The...
India’s US Trade Deal Forces A Long-Delayed Economic Detox
The price of admission to the global marketplace is rarely cheap, and for New Delhi, the bill has just arrived in the form of an 18% tariff. India’s recent Union Budget, which slashed import duties on everything from aircraft components to lithium-ion manufacturing equipment, was the preamble. The main event is a trade recalibration with...
Nirmala Sitharaman’s Budget 2026 Lacked The Big Bang That Markets Wanted
It was the worst budget-day performance in the markets in six years. Perhaps the markets should have remained shuttered on Sunday; a Monday opening might have allowed investors more time to digest the announcements in the Union Budget 2026. But the gates were open, and the markets sank like stone even as Finance Minister Nirmala Sitharaman...
The India-EU ‘Mother Of All Deals’ Is Also A Geopolitical Message To Trump
India and the European Union (EU) have finally signed off on a free trade agreement after two long decades of discussions. The deal may be signed, but even at this point, there is much legal scrubbing left to be done on both sides. The whole process, including the ratification by various EU member states, could take another year, at least. ...
India’s Budget 2026 Signals A Sunday Moment For Reform
The Union Budget 2026 is scheduled for presentation on February 1. Notably, the date falls on a Sunday. As far as political signaling goes, it is a potent one. It suggests an India that is open for business 24x7, even requiring the stock markets to break their weekend silence for a full trading session. Yet, for the global financial...
