Subodh Gupta
The rupee has slid from about 85 per dollar in January 2025 to over 96 by mid-May 2026, a loss of roughly 12%. It is not one problem. It is four problems feeding each other, and we have covered each one in this series. Force 1: The tech meltdown India’s biggest export success story, IT … Read more
Foreign portfolio investors have pulled roughly ₹2.2 lakh crore (about $30 billion) out of Indian stocks in 2026 by early June. That makes it the worst year for foreign outflows since 1993, when FPIs were first allowed into Indian equities The year-by-year picture (net FPI equity flows, NSDL data) 2022 saw an outflow of about … Read more
On 1 February 2026, Finance Minister Nirmala Sitharaman announced that the government will borrow a record ₹17.2 lakh crore (about $188 billion) from the market in FY27. That is 17% more than the ₹14.61 lakh crore borrowed in FY26, and higher than what most economists expected. Where does the money come from? Not foreign lenders. … Read more
India’s IT stocks just recorded their worst first half of a year since 2003. The Nifty IT index fell 31% between January and June 2026. The damage to individual stocks is brutal. Infosys lost 38%, TCS fell 37% and Wipro dropped 35% in six months. From its December 2024 peak of 46,089, the index is … Read more