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Technology

Policy Economic Report July 2026 - v4

By sanjay singh

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Share link
https://covver.com/magazine/sanjaysingh1305/policy-economic-report-july-2026-v4-2
Published
Aug 7, 2026
Pages
80
Language
English

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  • CoverFIPI Federation of Indian Petroleum Industry
  • Page 2FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 8FIPI POLICY AND ECONOMIC OIL & GAS MARKET and options. Speculators were increasingly betting on easing geopolitical risk premiums. At the same time, they sharply raised short positions to their highest level since December 2025, fuelling volatility and accelerating the decline in oil futures prices. Combined futures and options net long positions in ICE Brent and NYMEX WTI dropped to their lowest level since January 2026.
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  • Page 16FIPI POLICY AND ECONOMIC OIL & GAS MARKET growth path despite recent geopolitical disruptions. Emerging market economies generally outperformed advanced economies, with India recording the strongest expansion among all economies covered by the survey, followed by Ireland, China and Japan, reflecting the continued resilience of domestic demand in several Asian economies.
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  • Page 21FIPI POLICY AND ECONOMIC OIL & GAS MARKET per cent in FY 2026-27, compared with 7.7 per cent in FY 2025-26, before improving modestly to 6.8 per cent in FY 2027-28. While the projected slowdown reflects a more challenging global environment, India's growth outlook continues to compare favourably with that of other major economies, supported by resilient domestic demand, sound macroeconomic fundamentals and continued policy support.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 14: HSBC India Manufacturing PMI sa, >50 growth since previous month
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 15: Total Trade during June 2026
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  • Page 33FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 34FIPI POLICY AND ECONOMIC OIL & GAS MARKET kilometres of previously restricted offshore areas have significantly expanded exploration opportunities. These reforms, complemented by investments in geoscientific surveys and the National Data Repository, are expected to improve exploration success rates and attract greater investment into frontier basins.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Indian Basket Crude oil price
  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Table 4: Non-Doc liquids production in 2026, mb/d
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  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • Page 47FIPI POLICY AND ECONOMIC OIL & GAS MARKET was further revised for the period 1st April, 2025 30th September, 2025 was notified as US$10.04/MMBTU on Gross Calorific Value (GCV) basis. Prices were further revised for the period 1st October, 2025 - 31st March, 2026 was notified as US$9.72/MMBTU on Gross Calorific Value (GCV) basis as per notification dated 30th September 2025. As per notification dated 31st March 2026, gas prices were further revised for the period 1st April 2026-30th September 2026 and was notified as US$ 8.90/MMBTU on Gross Calorific Value (GCV) basis.
  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Solar street lighting and provision of lighting in Rs. 1 lakh per MPC MPCs of PVTG areas (under PM JANMAN
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  • Page 73FIPI POLICY AND ECONOMIC OIL & GAS MARKET success of efforts to ramp up assured domestic supply and reduce reliance on the blending mandate.
  • Page 74FIPI POLICY AND ECONOMIC
  • Page 75FIPI POLICY AND ECONOMIC OIL & GAS MARKET bring together governments, industry, investors, technology leaders, researchers, startups and academia to strengthen partnerships, promote innovation and shape the future of sustainable and technology-driven mining. Highlighting the transformative reforms undertaken over the past decade under the leadership of Prime Minister Shri Narendra Modi, he noted that transparent auctions, commercial coal mining, accelerated exploration, ease of doing business and technology-led governance have positioned India among the world's most attractive mining destinations. Referring to emerging global challenges related to energy security, critical minerals and resilient supply chains, he said India is pursuing an integrated approach that combines policy reforms, technological advancement, value addition, sustainability and international collaboration to build a future-ready mining ecosystem. The Minister expressed confidence that the event would strengthen global partnerships, showcase India's mineral potential and technological capabilities, and contribute to realizing the vision of Aatmanirbhar and Viksit Bharat. He urged all technology innovators, researchers, industries and other stakeholders to be part of the India Mining Week 2026.
  • Page 76FIPI POLICY AND ECONOMIC OIL & GAS MARKET policy reforms and accelerated exploration. Announcing the forthcoming launch of the 8th round of Critical and Strategic Mineral Blocks auctions, he said the initiative will further strengthen domestic availability of critical minerals, encourage greater private sector participation, attract investment and reinforce India's resilient mineral value chains. He noted that India Mining Week 2026 will serve as a global platform to showcase India's mining reforms, resource potential and emerging opportunities while fostering international collaboration, innovation and investment in the sector.
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FIPI

POLICY AND ECONOMIC OIL & GAS MARKET

The revised ICI also reflects changes in the relative importance of different sectors within the index. Electricity carries the highest weight of 30.93 per cent, followed by Refinery Products (22.57 per cent), Steel (17.58 per cent), Crude Oil (7.43 per cent), Coal (5.60 per cent), Iron Ore (4.91 per cent), Cement (4.41 per cent), Natural Gas (3.84 per cent) and Fertilizers (2.73 per cent). These nine industries collectively provide an important indication of industrial and infrastructure activity, as they form the backbone of the country's manufacturing and energy sectors.

Overall, the June 2026 data indicate a strengthening in India's core industrial performance, supported by robust growth in mining, construction-related industries and electricity generation. The introduction of the revised ICI series with a new base year and expanded sectoral coverage is expected to provide a more representative measure of core industrial activity and improve the alignment of the index with the evolving structure of the Indian economy.

6. RBI's FCNR(B) initiative may strengthen India's external sector with forex inflows of up to US$85

Billion

The Reserve Bank of India's (RBI) recent measures to encourage Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are expected to significantly strengthen India's external sector by attracting substantial foreign currency inflows during FY 2026-27. According to an SBI Research report, the concessional swap facility introduced by the RBI could mobilize overall foreign exchange inflows of US$80-85 billion, substantially higher than earlier estimates and well above the mobilization achieved under a similar initiative in 2013.

The RBI announced the special swap window in June 2026 to incentivize banks to mobilize FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCBs) and External Commercial Borrowings (ECBs), with the objective of strengthening foreign exchange liquidity and enhancing the country's external resilience amid heightened global financial and geopolitical uncertainties. Under the scheme, banks are able to swap eligible foreign currency mobilized through these instruments with the RBI at concessional rates, thereby reducing their hedging costs and encouraging greater participation by overseas depositors and borrowers.

The response to the scheme has been considerably stronger than anticipated. RBI data indicate that by 17 July 2026, banks had mobilized approximately US$20.72 billion, comprising US$17.41 billion through FCNR(B) deposits, US$1.97 billion through OFCBS and US$1.34 billion through ECBS. Public sector banks have emerged as the principal contributors to the mobilization, while the amount raised within the first 45 days has already exceeded that mobilized during the three-month FCNR(B) scheme introduced in 2013.

Reflecting the strong initial response, SBI Research has revised its projection for FCNR(B) deposits from US$40-45 billion to US$65-70 billion by the end of the scheme, while estimating total foreign exchange inflows of US$80-85 billion. The report also expects a significant proportion of FCNR(B) deposits maturing during August and September 2026 to be renewed, supported by higher interest rates, further sustaining the momentum in foreign currency mobilization.

July 2026