Technology

Policy Economic Report July 2026 - v4

Published: Aug 7, 2026
Pages: 80
Language: English

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CoverFIPI Federation of Indian Petroleum Industry
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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 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.
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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.
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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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The Power of Stories: Understanding Narrative Economics Current Trends: The Digital Amplification The Rise of Meme Culture Al-Driven Narrative Loops

FIPI
POLICY AND ECONOMIC
OIL & GAS MARKET
Lessons from Economics

The Power of Stories: Understanding Narrative Economics

Economic models traditionally view markets as systems driven by cold data, rational math, and logical choice. However, human decisions are rarely guided by statistics alone. Instead, they are fueled by the stories we tell each other. This intersection of storytelling and financial behavior is known as narrative economics. It explains how popular stories spread like viruses and directly alter economic history.

What is Narrative Economics?

Narrative economics is the study of how popular stories, or "narratives," influence economic behavior and drive major market events. The concept was pioneered and popularized by Nobel laureate economist Robert J. Shiller in his 2019 book, Narrative Economics.

Shiller argues that just as viral biological diseases spread through a population, viral ideas spread through society. When a specific story gains enough traction, it changes how people spend, save, invest, and risk their capital. These stories do not just react to economic conditions; they actively create them. For instance, the Great Depression was not just a banking collapse. It was prolonged by a viral narrative of extreme panic, leading people to hoard cash and stop spending.

Current Trends: The Digital Amplification

In the digital era, narrative economics has become more powerful than ever. The rise of social media platforms, algorithmic news feeds, and retail trading applications have accelerated the speed and reach of financial stories.

The Rise of Meme Culture

Today, a single viral post can destabilize billions of dollars. Bitcoin story is one such example. Investors did not buy these assets based on earnings reports or cash flow analysis. They bought in because they wanted to be part of a viral, underdog narrative that pitched regular internet users against wealthy Wall Street hedge funds.

Al-Driven Narrative Loops

Artificial intelligence is the newest frontier in this field. Generative Al tools can create and distribute highly persuasive stories at an unprecedented scale. Financial bots and algorithms read social media sentiment, identify emerging narratives, and execute trades in milliseconds. This creates a feedback loop: an Al- generated narrative triggers algorithmic trading, which shifts market prices, thereby validating and strengthening the original story.

July 2026