This volume of the EcoCapsule analyses the evolving landscape of global trade where some have made deals, whereas others continue to search for them. The winners and losers in both cases remain unclear. Even as the impact of tariffs crystallises, global economic activity remains uncannily resilient. The resistance may be short lived as cracks have begun appearing in key metrics such as US employment. Back home, India has been struck with severe tariffs, though the timing reeks of brinkmanship. In any case, a strong domestic economy is must to tide over this. While monsoon magic promises to lend Midas’s touch to consumption, private capex leaves much to be desired. The RBI for now has kept status quo, awaiting further data. In addition to policy, the Central Bank would also do well to control currency movements.
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