From stranded shipping vessels near Strait of Hormuz amid the West Asia conflict, to the change in sectoral share due to revision in GDP base year, manufacturing and services activity moving in different directions in February, collections in goods and services tax (GST) signalling a post-cut recovery, and the government’s renewed push to faster adoption of electric vehicles, here’s a compilation of this week’s news in numbers.
Stranded ships
The US-Israel-Iran conflict is threatening to put the global order in chaos, particularly for the flow of gas and oil. At its core is the Strait of Hormuz—a narrow chokepoint through which over a quarter of global oil trade passes—where Iran holds strategic control.
According to Kpler's analysis of 223 container vessels between 28 February and 4 March, at least 37 were unable to exit the Gulf, meaning they cannot resume rotations until transit reopens. Some containers were headed for India, most notably, MSC Panaya to Vizhinjam, and Tema Express and One Majesty to Mundra. India is particularly at risk as over a third of its crude imports pass through the strait. India currently has crude stocks sufficient for about 25 days, plus petrol and diesel for another 25 days, Mint reported.
Share shake-up
After India revamped its gross domestic product (GDP) calculations last week after a gap of over a decade, the decline in the size of the economy reflected a correction in past overestimates.
The recalibration, which included reducing statistical discrepancies and using more robust datasets, also changed the sectoral make-up of GDP. Most notably, agriculture’s share in nominal gross value added (GVA) increased under the 2022-23 series compared to 2011-12, while services’ share declined.
Agriculture sector's share has gone up due to inclusion of new fruits and vegetables, updated rates and ratios for capturing production, and a drop in value of overall input. Share of services declined mainly due to the use of better data to capture informal activity.
Mixed moves
India’s services and manufacturing activity displayed mixed results in February, with the manufacturing activity hitting a four-month high, while services eased marginally from January.
Manufacturing purchasing managers’ index (PMI) rose to 56.9 in February from 55.4 in January, largely driven by domestic demand, even as export orders rose at the slowest pace in 17 months. Meanwhile, services PMI fell marginally to 58.1 from 58.5 as a notable pick-up in international sales was offset by slower new order. Nevertheless, services activity momentum was stronger than that of manufacturing, a trend largely seen through the past year.
Numbers talk
$100 million: The annual amount Wipro Ltd could lose after Estée Lauder shifted a portion of its work in a five-year deal worth $500 million to rival Accenture, Mint reported. Accenture will now handle key IT functions of Estée Lauder, including finance, database management, and back-end management.
$1.9 billion: The value of a uranium supply deal that India has signed with Canada, alongside pacts on critical minerals and plans for broader economic ties. The supply would help India’s civilian nuclear energy program.
32: The number of sailors saved by Sri Lankan authorities after Iranian frigate IRIS Dena sent distress signals early Wednesday amid the ongoing conflict in West Asia. The ship sank with over 100 sailors missing or feared dead.
$1.2 billion: The amount the Asian Development Bank plans to lend India in 2026, the same as last year, to support climate resilience, clean energy, and sustainable infra development.
71 billion: The number of spam calls Airtel says it has blocked in 1.5 years, alongside 2.9 billion spam SMSes, using AI tools, cutting financial fraud losses by 68.7%. It has now partnered with Google to extend user protection beyond the telco domain.
Recovery mode?
India’s GST collections are showing signs of recovery from the sharp impact of rate cuts last year. Gross GST collections were up 2.8% in February, which pertain to economic activity for January. This is a consistent uptick from the recent low of negative 4.0% growth in November 2025 (for October) when the full month rate cut impact was visible.
Growth was stronger, at 8.1% in February, after removing GST compensation cess component from gross collections. The cess was largely eliminated for most goods, including automobiles and aerated drinks. The trend was similar here as well, with growth showing an uptick after slumping to a mere 0.8% in November.
Power push
The heavy industries ministry is evaluating proposals from state governments and oil marketing companies to install electric vehicle (EV) charging infrastructure, targeting disbursals of ₹80 crore under the PM E-Drive scheme by end of FY26.
The push comes amid India’s sluggish transition towards electric vehicles, particularly in the passenger vehicles segment.
A Mint analysis of EV registrations earlier this week showed that while EV adoption has risen considerably in the past decade, it was still around 8% of overall vehicle sales in 2025. Only eight of 47 cities with over a million population have crossed the 10.0% mark in EV adoption. The lack of adequate charging stations is seen as the biggest barrier to EV adoption.