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Original analysis, derived from public data. India-anchored.

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Business

India's Gold Buyers Spent More and Got 29 Percent Less

Gold demand fell 29 percent to 162.5 tonnes in July to September, yet the rupee bill rose 3 percent. The duty hike gets the blame, but one quarter's drop already exceeds the council's full-year estimate of the duty's effect, and some supply may now sit outside the statistics.

November 3, 2026

A passenger sits in silhouette in a Kolkata airport terminal as a plane climbs past the sun outside tall glass windows

Business

India's New Airfare Rule Sets No Number for When Fares Are Too High

The Bharatiya Vayuyan Niyam, 2026 lets the Centre direct airfares in an extraordinary situation, but names no fare level or trigger. The last time it acted, the cap lasted 107 days, and one airline now carries 65.4 percent of domestic passengers.

November 2, 2026

A container ship loaded with stacked containers docked beneath tall port cranes at Kochi, India

Business

India's Import GST Is Growing Four Times Faster Than Its Domestic GST

October's 22.9 percent jump in GST collections is being read as festive demand. The tax collected on imports is growing four times faster than the tax collected at home, and the rupee is part of the reason.

November 2, 2026

A hand pointing at a candlestick price chart with technical indicators on a dark trading screen

Markets

Big Tech's AI Debt Sits on Three Balance Sheets, Not Seven

SBI Research says the Magnificent Seven's debt is up 45 percent to $578 billion. In the companies' own filings, three of them did almost all the borrowing, and two shrank their debt.

November 2, 2026

A container ship loaded with cargo containers docked beneath port cranes

Business

Much of the Scotch Sent to India Ships in Bulk, and the Tariff Cut May Skip It

India halved its duty on Scotch in July. Whether the cut reaches bulk whisky, the form much Scotch takes on its way into Indian blends, is now a live dispute with tax investigators in the room.

November 2, 2026

Gold bitcoin tokens resting on laptop keyboards, with blurred financial charts glowing on the screens behind them

Markets

Who Pays When a Crypto Exchange Is Hacked? Only the Exchange Itself

Binance says it has covered up to 90% of a record $6.3 billion theft from its own money. The users were made whole by a company's choice, not by any system, and an Indian exchange's customers got a very different deal.

November 1, 2026

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