India’s economy is facing its toughest test of 2026 as the rupee hit a record low of 95.34 today. Driven by an “oil shock” that has pushed prices to $126 a barrel, the currency’s fall highlights the country’s vulnerability to global energy conflicts. While the RBI is fighting to stabilize the markets, the combination of high fuel costs and fleeing foreign investment is painting a challenging picture for the months ahead.
Kolkata, April 17, 2026: For decades, the global economy’s most reliable tailwind was demographic. More people meant more workers, more consumers, more taxpayers. That tailwind has turned. From Tokyo to Berlin to Shanghai, fertility rates are far below replacement level, migration is no longer bridging the gap, and working-age populations are shrinking in absolute terms. The next five years will be the first when population degrowth moves from UN charts to boardroom P&Ls.
Russia has pushed back against US President Donald Trump’s claim that India will stop buying Russian oil. Foreign Minister Sergei Lavrov said no such commitment has been made by New Delhi, underlining that energy decisions remain India’s sovereign choice.
