War Hits Kitchens, Farms At Risk Too

The fallout of the war raging in West Asia has hit home. Indian companies have increased LPG prices as global prices have surged amid the Iran-US war. 

Prices were raised by a steep Rs 60 per cylinder for the first time in almost a year for non-subsidised LPG. LPG is mostly used in India for household cooking. According to the Indian Oil Corp website, the 14.2 kg gas cylinder will now cost Rs 913 in Delhi. The price of this cylinder was Rs 853 until Friday.  

This comes even as rumours of oil scarcity spread on social media and WhatsApp channels. The Petroleum Ministry said in a statement that India’s energy supplies remained secure and stable. 

“Crude oil sources diversified from 27 to 40 countries, ensuring multiple alternative supply routes… In the national interest, India purchases oil from wherever the most competitive and affordable prices are available,” the ministry said in a statement. 

A day earlier, on Friday, the US had said that it had temporarily eased sanctions to let India buy oil from Russia. 

On Saturday, Reuters reported two government sources as saying that Indian refiners were  ‌seeking a legal opinion on how they can purchase sanctioned Russian oil. 

Trade At Risk

The war is also causing significant anxiety for Indian traders because it has hampered the movement of goods. The Directorate General of Foreign Trade has issued a notice stating that it has made some relaxations for exporters to fulfil their export obligations. 

The trade think tank Global Trade Research Initiative (GTRI) also warned that a prolonged war could cost India agricultural exports. 

“Prolonged disruption around the Strait of Hormuz could ripple across India’s farm economy, affecting farmers, food processors and exporters across multiple states,” GTRI said. 

In 2025, India’s agricultural and food products to West Asia added up to $11.8 billion. While cereals, fruits, vegetables and spices dominate these exports, the Gulf is also India’s largest export market for bananas. Exports of vegetables, tea, tobacco products and edible oils would also be affected.

Also on this week’s weekend playlist:

Markets, trade policy and technology are all shifting in ways that could reshape the economic landscape ahead. What should investors do when markets become volatile and harder to read? What does a US Supreme Court ruling striking down the legal basis for sweeping tariffs mean for global trade — and for India’s negotiating position? And how quickly are AI-driven robots beginning to transform manufacturing and the future of work?

In today’s edition, we look at three developments that together signal a changing economic environment: market strategy insights, the ripple effects of the US court’s tariff setback, and the growing role of AI-powered robotics in reshaping factories and supply chains.

WEEKEND EDITION

Markets Are Changing. Your Strategy Should Too.

For much of the past few years, markets rewarded almost everyone.

Liquidity was abundant, retail participation surged, and equities delivered strong returns. But as 2026 unfolds, that easy phase appears to be fading. Geopolitical tensions, commodity cycles, inflation concerns, and rising global debt are beginning to reshape the investing landscape.

In this episode of The Core Report – Weekend Edition, financial journalist Govindraj Ethiraj speaks with Chintan Haria, Principal Investment Strategist at ICICI Prudential Asset Management Company Limited, about how investors should rethink strategy as volatility returns.

The core argument is simple: asset allocation may matter more than stock picking.

As markets become more complex, investors need portfolios that balance equities, commodities like gold and silver, fixed income, and hybrid funds. Sector leadership is shifting, commodity prices are influencing corporate margins, and global capital flows are becoming less predictable.

Another structural change is the growing role of retail investors. Their participation is now shaping market behaviour in ways that were once dominated by institutions.

The takeaway is less about chasing the next winning stock and more about building resilience.

Because in uncertain markets, protecting capital becomes just as important as growing it — and disciplined asset allocation often proves to be the difference between reacting to volatility and navigating it.

SPECIAL EDITION

For years, India’s AI story lived inside software code and IT services decks.

That’s changing.

In this episode of The Core Report – Special Edition, Govindraj Ethiraj speaks with K K Natarajan — Founder of Mela Ventures, former CEO of Mindtree — about how AI is moving from dashboards to factory floors.

This is Industry 4.0, made physical.

AI-powered robots are welding, sorting and assembling. Autonomous mobile robots are navigating warehouses. Drones are mapping farms. Sensors and LiDAR systems are feeding real-time data into predictive models. Even wastewater treatment plants are becoming algorithm-driven.

The shift isn’t incremental. It’s structural.

Indian startups are combining hardware, software and AI models to solve industrial problems that were once labour-intensive, unsafe or inefficient. Venture capital is following. Deep tech is no longer a niche — it’s a national productivity play.

The larger question is not whether AI will reshape Indian manufacturing.

It’s whether India can build the hardware backbone to match its software legacy — and emerge as a global hub for robotics-led industrial innovation.

Because this time, the code doesn’t just sit in the cloud.

It moves steel.

HOW INDIA’S ECONOMY WORKS

When the Court Rewrites Trade Policy

In the latest episode of How India’s Economy Works on The Core, journalist Puja Mehra speaks with economist Shekhar Aiyar about a ruling by the Supreme Court of the United States that struck down the use of the International Emergency Economic Powers Act (IEEPA) as the legal basis for sweeping tariffs imposed under Donald Trump.

The decision is more than a legal technicality. It recalibrates trade leverage.

With the current 15% global tariff framework under scrutiny — and earlier 50% duties on Indian imports in focus — questions now arise: Can companies expect refunds? Does this weaken Washington’s negotiating hand? And has India’s position in bilateral trade talks improved?

Aiyar argues that the ruling lands at a pivotal moment. As tariff power narrows and the World Trade Organization dispute settlement system remains weakened, global trade is fragmenting into strategic blocs.

For India, the path forward lies in diversification, sharper negotiation and a more assertive role in shaping new multilateral rules.

Trade, once driven by economics alone, is now deeply institutional — and increasingly judicial.

THE CORE QUIZ

INDIA FINANCE & INNOVATION FORUM 2O26

The Pioneer presents India Finance & Innovation Forum 2026 convenes policymakers, regulators, financial institutions and industry leaders to examine India’s evolving financial architecture. Over three days, senior decision-makers will explore fiscal and monetary priorities, capital markets, digital finance and innovation-led growth through focused dialogue, networking and collaborative sessions on what’s changing, what works and what comes next.

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