Economy

India’s textile and apparel market has witnessed remarkable expansion, growing from Rs 4.89 lakh crore in 2010 to Rs 14.95 lakh crore in 2024, reflecting a compound annual growth rate of 8.3 per cent. The surge has been driven by rising household consumption, urbanisation, and evolving consumer preferences. A significant shift toward man-made and blended fibres, which now account for over half of the market, highlights changing industry dynamics. Cotton, while still dominant, is gradually уступed by synthetic alternatives.

Jammu & Kashmir (J&K) saw its Gross State Domestic Product (GSDP) growth moderate to 11.18% in FY25, slightly down from 12.51% in FY24, according to the latest Comptroller and Auditor General (CAG) report. Despite this slowdown, the region’s economy has consistently maintained an 11–12% growth trajectory over the past four years. The report also highlights a marginal increase in J&K’s share of India’s GDP to 0.79%, and an expansion in the economy from Rs 1.67 lakh crore in FY21 to Rs 2.62 lakh crore in FY25.

India’s residential real estate market experienced a mild slowdown in the January–March quarter, with housing sales declining 4 percent year-on-year to 84,827 units. The moderation comes after a prolonged growth cycle and is largely attributed to elevated property prices and heightened geopolitical uncertainty linked to tensions in West Asia. While key markets such as Mumbai, Delhi-NCR, and Pune witnessed a dip in demand, other cities including Bengaluru and Hyderabad showed resilience.

Gold and silver prices witnessed a sharp upward movement in domestic markets, driven by a weakening US dollar and easing crude oil prices. Silver surged by Rs 5,000 per kilogram, while gold climbed Rs 2,300 per 10 grams, reflecting renewed investor interest in safe-haven assets. The rally comes after a recent correction in bullion prices, prompting value buying across markets. 

The Punjab government has introduced an ambitious Rs 1,388 crore action plan for FY27 aimed at revitalizing the state’s agriculture sector through sustainability-focused initiatives. The strategy prioritizes crop residue management, water conservation, crop diversification, and natural farming practices to address long-standing environmental and productivity challenges. A significant Rs 600 crore allocation has been earmarked for tackling stubble burning through mechanization support. 

India’s healthcare and pharmaceutical industry is entering a new phase of capability-driven expansion, with projections indicating the creation of 2 to 2.5 million jobs by 2030. However, this growth comes with a structural shift, as nearly 30 to 35 per cent of the workforce will require reskilling to meet evolving industry demands. The transformation is being driven by technological integration, rising specialization, and expansion across segments such as telemedicine, diagnostics, and life sciences.

The Indian rupee posted modest gains against the US dollar, supported by targeted intervention measures from the Reserve Bank of India aimed at curbing currency volatility and speculative trading. Despite strengthening during the session, the currency continues to face pressure from global uncertainties, including rising crude oil prices, foreign capital outflows, and a resilient US dollar. Market participants view the central bank’s actions as a stabilizing force, although external macroeconomic challenges remain significant.

India has intensified its liquefied petroleum gas (LPG) supply measures to ensure uninterrupted availability amid rising geopolitical concerns surrounding the Strait of Hormuz. The government has significantly increased the distribution of 5-kg free trade LPG cylinders, selling approximately 6.6 lakh units since late March 2026. Authorities have emphasized that there is no shortage of domestic LPG, with over 51 lakh cylinders delivered in a single day and digital bookings accounting for 95 per cent of demand.

India and Nepal are taking renewed steps to strengthen their economic partnership, with a growing emphasis on trade expansion, investment collaboration, and private-sector engagement. At a recent bilateral trade forum, Nepal’s envoy highlighted the need for deeper integration between business communities to unlock untapped opportunities. The initiative underscores the strategic importance of cross-border cooperation in driving sustainable growth for both nations.

India’s equity markets are poised for heightened volatility as investors navigate a complex mix of domestic policy decisions and global geopolitical risks. The upcoming monetary policy announcement by the Reserve Bank of India is expected to set the tone for market sentiment, with inflation and growth concerns in sharp focus. Simultaneously, escalating tensions in West Asia and fluctuating crude oil prices are adding to uncertainty.