Indian households are believed to hold about 25,000 tonnes of gold, the largest private stock of any country’s households in the world.
The best ability of Indian refineries is that they can switch between Gulf crude, Russian Urals, and Venezuelan heavy oil. They were built with deep conversion capacity, with units that crack the heavy, sulphur-laden bottom of the barrel into clean diesel and petrol.
At the 18th BRICS Summit, India drew a definitive line between geopolitical posturing and macroeconomic reality. Discover why New Delhi is explicitly rejecting a centralised BRICS currency and SWIFT rival in favour of pragmatic, interoperable national payment systems.
Economists have a name for what happens when a central bank’s independence quietly bends under the weight of government borrowing needs: fiscal dominance. It’s the slow drift toward that condition, not some Hollywood-style default, that should worry anyone watching from outside America’s borders.
An Indian company that writes brilliant software for a foreign platform gets paid well for the work. It almost never owns a slice of what that platform eventually becomes worth. This is the exact distinction Naoroji’s arithmetic always hinged on, not whether India earns money, but what kind of money it earns, and what kind slips past it entirely.
Selected issues, clear explanations and thoughtful perspectives—delivered when we publish.
