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WPI and PPI Explained: How India’s New Inflation Measures Affect Economic Data

India is changing how it measures price movements faced by producers, introducing new Producer Price Indices while modernising the Wholesale Price Index. The reform sounds technical, but it can improve how policymakers and businesses understand inflation. The Wholesale Price Index, or WPI, tracks changes in the prices of a selected basket of goods at the wholesale level. It covers primary articles, fuel and power, and manufactured products. India’s new WPI series uses 2022–23 as its base year. A base year provides the reference point against which later price changes are measured. Updating it helps the index reflect newer products, production patterns and their relative importance within the economy. The expanded series covers 957 items, compared with 697 in the earlier basket. Broader coverage should make the index more representative, although accuracy also depends on reliable price collection, transparent weights and appropriate revision procedures. A Producer Price Index, or PP...
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Russian Strikes Force Shutdown of Ukraine’s Largest Steel Plant as Kyiv Toll Rises

Ukraine’s largest steel plant is stopping production after repeated Russian attacks made continued operation unsafe, while another strike in Kyiv killed seven people and injured dozens. ArcelorMittal said it had informed the Ukrainian government that safe and sustainable production was no longer possible at its Kryvyi Rih facility. The company reported four strikes in five weeks, extensive damage and the deaths of five workers at the plant. The shutdown illustrates how attacks on industrial facilities can affect a country beyond the immediate physical destruction. Steel production supports employment, exports, rail transport, construction and a wide network of suppliers. Before the war, steel represented around 15% of Ukraine’s exports, according to Reuters. The sector has since faced damage to plants and energy supplies, interrupted logistics, reduced access to ports and tighter conditions in important overseas markets. ArcelorMittal also expects to record an impairment charge of ...
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Iran Proposes Seven-Day Hormuz Plan, but Official US Response Remains Unclear

Iran says it has presented a diplomatic proposal that could reopen the Strait of Hormuz and pause fighting across the wider Middle East within seven days. As of early September 26, however, there was no publicly confirmed official acceptance from the United States. Iranian Foreign Minister Abbas Araqchi outlined the initiative during the United Nations General Assembly in New York. According to Iran, the proposal was conveyed to the United States through Qatari mediators. The plan would begin a seven-day countdown leading to the reopening of the strategic waterway and a broader pause in regional hostilities. Iran has also indicated that wider negotiations could follow if the United States agrees to the initial arrangement. The Strait of Hormuz is one of the world’s most important energy-shipping routes. It connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. Disruption can affect oil and gas deliveries, shipping insurance, freight costs and energy prices far beyond t...
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Cauvery Authority Upholds 4,000-Cusec Water Release to Tamil Nadu for 15 Days

The Cauvery Water Management Authority has upheld a direction requiring Karnataka to release 4,000 cubic feet per second of Cauvery water to Tamil Nadu for 15 days. The authority confirmed the direction during its 58th meeting in New Delhi. The earlier instruction was issued by the Cauvery Water Regulation Committee, which monitors flows, reservoirs and the implementation of water-sharing arrangements. Tamil Nadu told the meeting that it had received 42.209 thousand million cubic feet, or tmcft, at Biligundlu against a calculated pro-rata entitlement of 57.190 tmcft. According to the state’s submission, the resulting shortfall was 14.981 tmcft. Biligundlu, located on the interstate boundary, is the principal point used to measure Cauvery water entering Tamil Nadu from Karnataka. Tamil Nadu representatives also raised the state’s irrigation requirements and reservoir conditions. The river is particularly important to farmers in the Cauvery delta, where the timing of water availabilit...
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India Cuts FY27 Borrowing Plan as Government Seeks to Ease Bond-Market Pressure

India has slightly reduced its planned borrowing for the current financial year, offering some relief to a government bond market that has faced rising yields and cautious investor sentiment. The Union government plans to raise ₹7.86 lakh crore through dated securities between October 2026 and March 2027. Combined with borrowing completed during the first half of the financial year, full-year gross borrowing is expected to be approximately ₹16 lakh crore. That is below the ₹17.20 lakh crore announced in the Union Budget. It is also marginally lower than the revised ₹16.09 lakh crore figure communicated earlier in the year. Government borrowing is necessary because public expenditure frequently exceeds revenue from taxes and other sources. The government meets the difference by selling bonds to banks, insurance companies, mutual funds and other investors. A smaller borrowing requirement can be positive for the bond market because it limits the volume of new securities competing for ...
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Wang Yi’s 2023 Russia Visit Followed U.S. Talks in Malta

What happened China’s senior diplomat Wang Yi travelled to Moscow in September 2023 shortly after holding two days of talks in Malta with U.S. National Security Adviser Jake Sullivan. The sequence of meetings drew attention because Beijing was maintaining close relations with Russia while also trying to prevent further deterioration in its relationship with the United States. According to the official U.S. account reported at the time, Sullivan and Wang discussed bilateral relations, Russia’s war against Ukraine, regional security and tensions across the Taiwan Strait. Both sides indicated that they wanted to maintain communication and continue high-level engagement. The Malta meeting followed an earlier round of talks in Vienna in May 2023 and a series of visits to Beijing by senior U.S. officials. Why the Moscow visit mattered Wang’s trip was connected to China-Russia strategic consultations and preparations for further senior-level engagement. Russian President Vladimir Putin later ...
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Vivek Ramaswamy’s 2023 H-1B Proposal: What It Meant for Indians

The 2023 proposal In September 2023, Republican presidential candidate Vivek Ramaswamy argued that the lottery used for cap-subject H-1B visas should be replaced with a merit-based selection system. He criticised the existing programme and said he wanted skilled immigration to be matched more closely with U.S. economic needs and civic commitments. The remarks were a campaign position, not a change in U.S. immigration law. Ramaswamy later ended his presidential campaign in January 2024, so the proposal should be understood in its original political context. How the H-1B programme works The H-1B category allows eligible U.S. employers to temporarily employ foreign professionals in speciality occupations. These roles generally require highly specialised knowledge and at least a bachelor’s degree or its equivalent. Employers must comply with wage and labour-condition requirements. Because demand for new cap-subject visas usually exceeds the annual numerical limit, U.S. Citizenship and Immi...
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