From gross domestic product (GDP) growth easing in the December quarter, to the government outlining a nearly ₹17 trillion asset monetization pipeline, IT stocks extending losses amid AI-driven concerns, India weighing contingency plans for crude oil imports, and a moderation in salary hikes, here’s a compilation of this week’s news in numbers.
Losing momentum
India's economy likely grew at 7.8% during the December quarter, slowing from 8.4% in the previous quarter, due to slower growth in agriculture and the non-manufacturing industrial sectors, and government spending cuts, data released on Friday showed. GDP growth is estimated at 7.6% for 2025-26, up from 7.1% in the previous year. The GDP has been revised with an updated base year to 2022-23 from 2011-12, which has also reset growth figures for FY23-FY26, for which the statistics ministry has released data so far.
The updated series incorporates several changes, such as the inclusion of goods and services tax (GST) data, a better method for deflation from current prices to constant prices, and the use of large-scale surveys to capture the informal economy.
Asset monetization 2.0
Union Finance minister Nirmala Sitharaman on 23 February unveiled the blueprint for the second phase of India’s public asset monetization programme, under which operational infrastructure such as airports, highways, and mines will be handed over to private players for a fixed tenure for redevelopment. The plan aims to mobilize a total of ₹16.72 trillion, including the ₹5.8 trillion of private investment committed over the concession period.
Prepared by government think tank Niti Aayog, the second phase is a sharp expansion from the FY22-25 plan, which mobilized ₹5.3 trillion, about 89% of its ₹6 trillion target, Mint reported. The new monetization pipeline spans 12 sectors, with highways, multimodal logistics parks and ropeways accounting for the lion’s share at 26.4%. The power sector follows with a 16.5% share, while ports, railways, coal and mining assets are also among the other major sectors in the programme.
Tech tremors
Concerns around the increased use of artificial intelligence (AI) are rocking the information technology (IT) industry. Indian IT companies are not untouched, with the Nifty IT sharply underperforming compared to the broader market this year. A recent report by Citrini Research has added to investor unease around the impact of AI on global growth and corporate earnings. The report outlines a scenario in which rapid AI adoption boosts productivity but weakens household incomes and employment, leading to systemic economic instability by June 2028. The report also flagged Indian IT services as particularly exposed, arguing that advances in AI coding tools could reduce demand for outsourced software work and pressure pricing for companies such as Tata Consultancy Services (TCS), Infosys, and Wipro, further hitting the IT stocks.
Numbers Talk
126%: Preliminary duties which the US has imposed on the import of Indian solar modules, alleging that New Delhi has unfairly subsidized manufacturing. Washington has also set increased initial levies to 143% from 86% for Indonesia and imposed 81% for Laos.
94.5%: The five-year survival rate recorded in India’s first registry of childhood cancer survivors, which tracked 5,419 patients diagnosed before the age of 18, according to a study published in The Lancet Regional Health-Southeast Asia.
₹1,500 crore: The amount JSW Group announced it will invest in a steel project in Punjab’s Rajpura, which would contribute to strengthening the state’s manufacturing base and deepen the steel value chain, according to an official statement.
$30 billion: The bilateral trade target India and Brazil have aimed to reach by 2030, an increase from their current level of around $13 billion, amid expanded cooperation. India runs a trade surplus of around $1.3 billion with Brazil.
₹1.58 trillion: The size of Jharkhand’s 2026-27 state budget, up from ₹1.45 trillion in 2025-26, which includes a new scheme for women engaged in agriculture. They have set the fiscal deficit target at 2.18% of the GSDP.
Crude contingency
India is preparing backup options for crude imports amid escalating tensions in West Asia, which are driving up global oil prices and heightening concerns over supply disruptions. The government is assessing alternative shipping routes, widening its supplier base, and strengthening strategic reserves to safeguard energy security, Mint reported. Brent crude oil prices surged past $70 per barrel on 18 February after Iran closed the Strait of Hormuz, a vital artery for global crude and LNG flows, for a few hours a day earlier. Following the US decision to expand its military presence in the region, Iran’s threat to close the Strait has kept oil prices elevated. India receives roughly one-third of its total crude imports through the Strait of Hormuz from suppliers such as Saudi Arabia, Iraq, Kuwait, and the UAE.
Hike hurdle
Salary increments are expected to moderate further in 2026, averaging 9.1%, according to EY’s latest Future of Pay report. Hikes declined to 9.3% in 2025 from 9.6% in 2024. While hikes are expected to moderate in 2026, global capability centres (GCCs) stand out, with increments projected to rise to 10.4% in 2026, higher than 10.2% in 2025 and 10% in 2024, supported by sustained global demand and high demand for skilled employees. Salary hikes in the life sciences and pharmaceuticals sector are also expected to see an upward momentum at 9.7% in 2026. In contrast, engineering, manufacturing, and automotive will continue to see moderation, with increments trending below previous years, reflecting cautious capex cycles, utilization pressures, and tighter margin discipline.