Oil shock

The West Asia conflict jolted global markets, pushing crude oil prices briefly above $100 a barrel amid fears of shipping disruptions through the Strait of Hormuz, which carries about 20% of global oil supply. Global stocks also slid as investors worried the crisis could trigger one of the biggest oil shocks since 1990, an analysis by howindialives.com showed.

In the 12 days of the conflict so far, oil prices surged about 34%, the sharpest rise among major oil-shock episodes.

Prices have since eased to around $98 a barrel.For the analysis, prices are indexed at 100 on the event start date, and all other values are re-based to it, up to 90 days before and after each event.

Race to the top

India and Vietnam have been locked in a close race on Mint's Emerging Markets Tracker. While India benefits from strong gross domestic product (GDP) growth, manufacturing strength and stable inflation, weakness in the rupee and stock markets has hurt its rankings since December.

Vietnam, newly added to the tracker, has surged ahead, topping the rankings in three of the past four months on the back of rapid economic growth, strong exports and rising stock market capitalization.

Over the past 12 months, however, India retains a narrow lead, ranking first six times compared with Vietnam's five.

Numbers talk

₹88.7 crore: The government's spending on promoting the GST Bachat Utsav, aimed at publicizing GST rate rationalization that took effect on 22 September 2025, the finance ministry said in a reply to the Lok Sabha.

$692 million: The potential pay package for Google CEO Sundar Pichai over the next three years under Alphabet's new compensation plan, placing him among the world's highest-paid corporate leaders.

$93.4 billion: Saudi Aramco's net profit for 2025, down 12% from $106.2 billion in 2024 as weaker revenues, US tariffs and broader economic headwinds weighed on earnings.

9 million: Women removed from Maharashtra's Majhi Ladki Bahin Yojana, reducing beneficiaries to 15.3 million, with 283,000 names dropped in Beed district alone, NDTV reported.

₹8.69 trillion: The outlay approved for Jal Jeevan Mission 2.0, extending the rural drinking water programme to December 2028 from the earlier 2024 timeline and restructuring it to emphasize sectoral reforms.

Lopsided growth

E-way bill generation rose 18.8% year-on-year in February to over 132 million, from 111.6 million a year ago, Goods and Services Tax Network (GSTN) data showed, indicating strong movement of goods across factories, warehouses and retail networks.

Sequentially, the number fell 3.1%, marking the second straight monthly decline after a 1.1% fall in January. The moderation is seasonal, as February is shorter and typically follows stronger January activity.

Activity is expected to pick up in March as businesses accelerate transactions ahead of the financial year-end, potentially supporting stronger GST collections.

Startup shutdowns

About 6,800 startups, or 3.2% of the total recognized by the Department for Promotion of Industry and Internal Trade had shut down as on 31 January 2026, government data showed.

Traditional as well as emerging sectors saw higher shutdown rates. Non-renewable energy startups had the highest closure rate at 8.1%, followed by social networking platforms (7.8%) and dating and matrimonial ventures (6.3%).

Among technology-led segments, computer vision startups saw 6.2% of ventures shut down, followed by augmented reality (AR)/virtual reality (VR) startups at 6.1% and Internet of Things startups at nearly 6%, pointing to higher churn in experimental and consumer-internet segments.

Arms reliance

India accounted for 8.2% of global arms imports during 2021-25, making it the world's second-largest buyer after Ukraine, according to the Stockholm International Peace Research Institute.

Purchases are driven by security tensions with China and Pakistan, including the May 2025 clash with Pakistan, the report said. Pakistan also ranked among top importers with a 4.2% share, after Saudi Arabia and Qatar.

While India's share remains elevated, it has come down from 9.3% during 2016 to 2020. India's recent defence purchases include French combat aircraft and German submarine.