Futures for the GIFT Nifty were trading at 23,257 at 08:11 a.m. IST, indicating that the Nifty 50 would open above Friday’s close of 23,151.10 after posting its steepest weekly drop in years and entering a technical correction.

Supply route developments lift sentimentMarket sentiment improved after the Wall Street Journal reported that the United States was preparing to announce a coalition of countries to escort commercial vessels through the Strait of Hormuz, a maritime corridor that handles about one-fifth of global oil supply.

Additional support came after two India-flagged liquefied petroleum gas carriers Shivalik and Nanda Devi transporting roughly 92,712 metric tons of LPG successfully crossed the strait last week en route to India, easing immediate concerns about fuel supply disruptions.

India’s foreign minister Subrahmanyam Jaishankar said in an interview with the Financial Times published Sunday that he had been in discussions with Iran and that dialogue had produced some results.

However, investors remain cautious as the conflict in the Middle East continues to threaten energy flows and financial markets.

Oil and currency pressures persist as rude oil prices have stayed above $100 per barrel during the conflict, raising concerns about inflation and economic growth in India

.The surge in energy costs has also pushed the Indian Rupee to record lows against the U.S. dollar, highlighting the vulnerability of the country’s energy-dependent economy.

Traffic through the Strait of Hormuz has been heavily curtailed since the United States and Israel launched a bombing campaign on Iran at the end of February, prompting Tehran to largely halt commercial shipping through the critical waterway.

If approved by lawmakers, the legislation is expected to face a national referendum, where nationalist groups have signalled opposition, arguing that deeper integration with the EU could undermine Swiss sovereignty.

The Federal Council said the proposed framework was designed to safeguard Switzerland’s economic interests and ensure continuity in its relationship with the EU.”

“In view of the tense geopolitical situation, stable and reliable relations with neighbouring European countries are of strategic importance,” the council said in a statement.

The government added that strengthening institutional cooperation with the bloc would provide greater certainty for Switzerland’s export-driven economy.

The legislative package builds on an agreement initially reached between Switzerland and the European Union in December 2024.

According to the Federal Council, the framework would help create predictable conditions for trade and economic cooperation while supporting long-term prosperity in the Alpine country.

Under Switzerland’s system of direct democracy, major legislative changes can be challenged through a nationwide referendum.

Political observers say the proposed measures are likely to face strong scrutiny from nationalist groups that oppose closer institutional ties with the European Union, setting the stage for a potentially contentious public vote.

The data comes as Hanoi continues months-long negotiations with Washington over a trade agreement, with talks complicated by the widening trade gap and disagreements over tariff levels the United States wants to impose on Vietnamese goods, officials have said.

According to U.S. figures, Vietnam’s trade surplus with the United States reached $19 billion in January, the largest among all U.S. trading partners. It was followed by Taiwan, Mexico and China.

Vietnamese exports to the United States rose 53% from a year earlier to exceed $20 billion in January, the data showed. During the same period, U.S. imports from China dropped by 46%.

Vietnam’s surplus with the United States has been larger than China’s since the second quarter of 2025 and was second only to Mexico in the previous three quarters. For the full year 2025, Vietnam’s trade surplus with the United States totaled $178 billion.

Vietnam’s export growth to the United States has accelerated as higher tariffs on Chinese goods reduced Beijing’s direct shipments to the U.S. market.

At the same time, Vietnam’s imports of Chinese goods many used in manufacturing products for re-export reached record levels in January, according to Vietnamese data.

The administration of Donald Trump has repeatedly accused Vietnam of serving as a transit point for Chinese goods bound for the United States, which may face lower duties when labeled as “Made in Vietnam.”

Under U.S. rules, goods deemed to have been illegally transshipped can face tariffs of up to 40%. However, the White House has not yet specified the criteria it will use to determine whether exports constitute illegal transshipment.

Washington launched new investigations this week into Vietnam and other countries over possible unfair trade practices.The United States imposed tariffs of 20% on Vietnamese goods in August.

After the U.S. Supreme Court struck down Trump’s global tariffs as unlawful in February, the White House introduced a temporary 10% global tariff for 150 days.

The Singapore-based logistics investment and development company has begun discussions with advisers on the potential listing, including Citigroup and Morgan Stanley, one of the sources and a third person familiar with the matter said.

The people declined to be identified because the deliberations are private. The timing and structure of the offering remain under discussion and the IPO could also occur in 2026 or later, the sources added.

A Hong Kong flotation would mark a return to public markets for GLP, which operates logistics infrastructure and investment platforms across Asia and other regions.

The company has built a large portfolio of warehouses and logistics facilities that serve e-commerce companies, manufacturers and distribution networks, positioning itself as a major logistics real estate operator in the region.

The involvement of Citigroup and Morgan Stanley reflects early-stage preparations for the potential listing, the sources said, adding that further details such as deal size and timeline are still being evaluated.

Deliberations around the proposed IPO remain ongoing and are subject to market conditions and regulatory approvals.

The decision represents one of the most significant adjustments to India’s investment screening regime since New Delhi tightened scrutiny of foreign capital from neighbouring countries following the confrontation along the disputed Himalayan frontier. The earlier restrictions had sharply slowed Chinese investment into India and complicated business ties between the two Asian powers.

Government officials have said the easing will apply to selected sectors, though authorities have not detailed the full scope of industries affected. The move forms part of a broader effort to stabilise bilateral relations that have gradually improved since diplomatic and military engagements helped ease tensions along the border.

India introduced stringent investment screening rules in April 2020, requiring government approval for all foreign direct investment from countries sharing a land border with India. The policy applied most prominently to Chinese firms and was framed by New Delhi as a safeguard against opportunistic takeovers of Indian companies during the economic disruptions caused by the COVID-19 pandemic.

The measure followed a deterioration in relations after a deadly clash between Indian and Chinese troops along their disputed frontier in June 2020. The confrontation led to the most serious military standoff between the two nuclear-armed neighbours in decades and triggered a broad reassessment of economic engagement.

Shortly after the clash, India banned 59 mobile applications linked to Chinese companies, including TikTok, WeChat and UC Browser, citing national security concerns. The ban marked a major escalation in India’s technology restrictions on Chinese firms and was followed by additional curbs affecting telecommunications equipment, infrastructure projects and digital services.

The heightened scrutiny of Chinese investment had a tangible impact on cross-border business activity. Several proposed projects by Chinese companies faced delays or failed to receive regulatory clearance under the tighter rules.

In July 2022, Chinese automaker Great Wall Motor abandoned plans to invest $1 billion in India after it was unable to obtain government approvals required under the post-2020 investment screening framework.

A year later, India rejected a separate $1 billion investment proposal from Chinese electric vehicle manufacturer BYD, again citing security concerns linked to foreign investment from neighbouring countries.

The stalled investments underscored the broader chill in economic ties that followed the border confrontation. While trade between the two countries continued at significant levels, new investment activity from Chinese firms slowed sharply amid regulatory barriers and heightened political sensitivity.

Industry groups and manufacturers had raised concerns that the restrictions were complicating supply chains and delaying industrial projects that relied on Chinese capital, components or technical expertise.

Relations between India and China began to stabilise after the two sides reached an agreement in October 2024 on patrolling arrangements along the disputed frontier, effectively ending a four-year military standoff.

Diplomatic engagement expanded gradually after that agreement, paving the way for a series of economic and travel-related policy adjustments.In July 2025, the government think tank NITI Aayog proposed allowing Chinese companies to acquire up to a 24% stake in Indian firms without requiring security clearance. The proposal was aimed at reducing approval delays created by the post-2020 screening system while maintaining oversight of sensitive sectors.

The diplomatic thaw became more visible in August 2025 when Prime Minister Narendra Modi travelled to China for the first time in more than seven years. The visit signalled renewed engagement between the two governments at a time when geopolitical tensions between China and the United States were rising.

Further steps toward normalising economic ties followed later in the year. In October 2025, the two countries agreed to resume direct commercial flights after a five-year suspension that had disrupted travel and business links.

By December 2025, India began issuing more business visas to Chinese professionals, a move intended to address shortages of technical staff at factories and industrial facilities that had reduced output and delayed projects across several sectors.

Economic considerations have increasingly influenced India’s approach to managing its relationship with China. Indian companies and state-run enterprises have faced supply constraints in areas where Chinese equipment and technical support remain widely used.

In February 2026, India began easing restrictions on the purchase of certain Chinese industrial equipment, allowing state-owned power and coal companies to import machinery in limited quantities. Officials said the policy change was intended to address shortages that had slowed energy and infrastructure projects.

The latest move to relax investment restrictions is seen as part of this broader recalibration. While the government has not announced a full reversal of the screening framework introduced in 2020, officials have indicated that selected sectors could receive greater flexibility for foreign capital.Trade between the two countries has remained robust despite diplomatic tensions, with China continuing to be one of India’s largest trading partners.

However, investment flows have lagged behind trade volumes since the regulatory tightening.Analysts say the evolving policy stance reflects India’s attempt to balance economic needs with security concerns related to strategic industries and infrastructure.

Government officials have not provided detailed guidance on the sectors covered by the eased investment rules or whether additional regulatory safeguards will accompany the policy shift.

The military said naval ships were deployed to accompany commercial vessels to ensure the uninterrupted flow of national energy supplies and maintain the security of sea lines of communication, which are critical for the country’s economy.

The escort operation was launched to counter what the military described as “multidimensional threats” to national shipping and maritime commerce. Pakistan relies heavily on sea routes for trade, with the armed forces noting that roughly 90 percent of the country’s commerce moves by sea.

Officials said maintaining secure maritime corridors was essential to ensuring the continuity of energy imports and broader economic stability.

Pakistan, which shares a border with Iran in its southwest, depends significantly on oil and gas supplies from Gulf producers.

Amid concerns about supply disruptions linked to the regional conflict, the government raised domestic fuel prices by about 20 percent last week, triggering long lines at petrol stations across the country.

Prime Minister Shehbaz Sharif on Monday announced a series of austerity measures aimed at conserving fuel, including closing government offices one day a week and directing half of public-sector staff to work from home.

Authorities also ordered schools to shut for two weeks as part of the effort to reduce fuel consumption and limit transport demand.

The military said naval forces remained fully prepared to respond to emerging maritime security challenges but did not provide further details about the scope or duration of the escort operations.

The move comes as heightened tensions across the Gulf region raise concerns among energy importers about potential disruptions to shipping routes and oil supplies.

First published in 1776, Smith’s landmark work laid the intellectual foundation for modern economic thought, examining how labour, markets and trade contribute to national prosperity. Two and a half centuries later, the principles outlined in the book remain central to policy discussions in major economies grappling with questions about tariffs, inequality and corporate power.Scholars widely regard Smith as a foundational thinker of modern capitalism, though interpretations of his legacy vary. While some view him as a champion of free markets and minimal government intervention, others emphasize his warnings about monopolies and economic concentration.

Smith’s analysis of markets centred on the idea that individuals pursuing their own economic interests could contribute to broader societal prosperity, a concept often associated with the “invisible hand.” His work also explored how specialization and the division of labour could increase productivity and economic growth.Those themes continue to resonate as governments debate trade barriers and industrial policy amid shifting global supply chains and geopolitical tensions. Discussions around tariffs, protectionism and the structure of global markets frequently echo arguments first articulated in Smith’s writings.Economists note that Smith was also critical of policies that concentrated economic power in the hands of a few firms. In The Wealth of Nations, he argued that monopolies and restrictive trade practices could distort markets and limit economic opportunity

The 250th anniversary has renewed academic debate over how Smith’s ideas should be interpreted in modern economic policy. Some economists highlight his support for open trade and competitive markets, while others point to passages in which he warned about the social consequences of inequality and unchecked corporate influence.Smith wrote during a period of profound economic transformation as Britain moved toward industrialization and global trade expansion. His observations about labour, productivity and wealth distribution helped shape early thinking on how economies function and grow.Today, policymakers in advanced and emerging economies alike continue to confront issues Smith addressed centuries ago, including how governments should regulate markets, manage trade relationships and ensure that economic growth translates into broader prosperity.

The global economic landscape has evolved dramatically since Smith’s era, with multinational corporations, complex supply chains and digital markets reshaping commerce. Yet analysts say the core questions explored in The Wealth of Nations remain central to economic policymaking.Debates about tariffs, taxation and competition policy often reflect the tension between protecting domestic industries and maintaining open global markets. Smith’s critique of protectionist trade barriers and monopolistic practices is frequently cited in discussions about how governments should balance those priorities.As governments reassess economic strategies in response to shifting geopolitical and technological forces, the work of Smith continues to serve as a reference point for understanding the dynamics of markets and the sources of national wealth.The enduring relevance of Smith’s ideas underscores the lasting impact of a book written in the 18th century but still invoked in economic debates shaping the 21st-century global economy.

The gathering, dubbed the “Shield of the Americas,” comes as Washington seeks to deepen ties with governments aligned with Trump’s policies on crime, migration and economic liberalisation. The meeting also takes place just weeks before Trump is expected to hold talks with Chinese President Xi Jinping in Beijing later this month.The summit occurs against the backdrop of growing Chinese economic engagement in Latin America, where trade between China and the region reached a record $518 billion in 2024, according to data cited by U.S. analysts.

Among the leaders expected to attend are Argentine President Javier Milei, Chile’s president-elect Jose Antonio Kast and Salvadoran President Nayib Bukele.Several of the participating leaders share policy positions with Trump on crime enforcement, migration control and pro-market economic policies. Analysts say their participation reflects a broader shift toward conservative politics in parts of Latin America.Bukele’s security policies in El Salvador, including a sweeping crackdown on criminal gangs, have drawn criticism from human rights organisations but have also been cited by some regional leaders as a model for tackling organised crime.Many governments attending the summit favour stricter law-and-order approaches to crime and migration, prioritising enforcement measures alongside economic policies that promote private sector investment .

The Trump administration views the summit as part of a broader effort to strengthen Washington’s strategic position in the Western Hemisphere at a time when Beijing has expanded trade, infrastructure investment and lending across Latin America.Ryan Berg, who heads the Americas Program at the Center for Strategic and International Studies, wrote this week that the gathering marks the first time in Trump’s second term that Washington has convened a group of Latin American leaders in this format.The event also gives the administration an opportunity to demonstrate regional leadership while the United States faces geopolitical pressures elsewhere, including tensions in the Middle East following recent U.S. military strikes on Iran.

Trump said earlier this week that Kristi Noem would serve as special envoy for the “Shield of the Americas” initiative. Noem previously served as secretary of the U.S. Department of Homeland Security until Trump removed her from the role amid mounting criticism from members of Congress.Officials say the summit will focus on coordinating policies on regional security, migration management and economic cooperation as Washington attempts to reinforce partnerships in a region increasingly shaped by competition between the United States and China.

Japanese minister Ryosei Akazawa said the request was made during talks with U.S. Commerce Secretary Howard Lutnick as Tokyo sought assurances that the latest tariffs announced by U.S. President Donald Trump would not undermine the terms agreed in last year’s bilateral trade deal.The United States in February imposed a new 10% blanket tariff on imports that could rise to 15%, a move that has generated fresh uncertainty about global trade flows and the tariff rates facing importers under existing agreements.Akazawa said both governments reaffirmed their commitment to the bilateral trade framework agreed last year, which established a baseline 15% tariff on nearly all Japanese imports into the United States. That agreement had reduced duties from 27.5% on Japanese automobiles and avoided an initially proposed 25% tariff on most other goods.concerns over new tariff framework“We requested that Japan’s treatment under the new tariff rules would not become less favourable than what was agreed last year,” Akazawa said, referring to the potential impact of the newly introduced blanket levy on Japanese exporters.He said the tariffs could otherwise raise costs for certain Japanese products shipped to the United States, though he declined to provide details on specific sectors or how Washington responded to Tokyo’s request.The discussions reflect concerns in Tokyo that changes to U.S. tariff policy could alter the balance achieved in the previous agreement, which was designed to stabilize trade relations between the two countries.investment and economic cooperation discussed.

Akazawa said the talks also covered projects linked to Japan’s pledge to invest $550 billion in the United States, an initiative aimed at deepening economic cooperation between the two economies.He said the two sides discussed collaboration in areas including energy and critical minerals, sectors that have become increasingly important to supply chain security and industrial policy in both countries.The discussions come ahead of a planned visit by Japanese Prime Minister Sanae Takaichi to Washington on March 19, which officials expect will include further talks on economic ties and investment cooperation.U.S. statement focuses on economic tiesThe U.S. Commerce Department said in a post on X that Lutnick and Akazawa met to discuss strengthening economic ties following last month’s investment agreement between the two countries.The department did not mention Japan’s concerns about tariff treatment under the new U.S. import levy.The tariff measures introduced by the Trump administration have prompted governments and businesses to reassess the implications for global trade agreements and supply chains, particularly for export-dependent economies such as Japan.

Countries within the Gulf Cooperation Council import up to 90% of their food, making the stability of shipping routes through the Gulf critical for supply flows. Analysts say prolonged disruption could begin to strain inventories, particularly if commercial shipping and aviation routes remain restricted.Dependence on Hormuz trade routeMore than 70% of food supplies entering the GCC region pass through the Strait of Hormuz, according to Neil Quilliam of Chatham House. The narrow waterway linking the Persian Gulf to global shipping lanes is a key artery for trade and energy exports.“With over 70 percent of GCC foodstuffs being imported through the Strait of Hormuz, Gulf states face shortages if the war persists,” Quilliam said. He noted that governments across the region have taken steps in recent years to diversify suppliers and build strategic reserves to cushion short-term disruptions.However, those measures may provide only temporary relief if the conflict continues. “While GCC countries have taken steps to diversify suppliers and ensure sufficient stores to withstand disruption, this can only last several months,” Quilliam said. “At this point, price increases and longer lead times will start to hit the markets.”Saudi Arabia seen as overland hubAnalysts say land routes through Saudi Arabia could become a crucial alternative supply channel for neighbouring states if maritime bottlenecks intensify.Commodities analyst Ishan Bhanu said the closure or disruption of major logistics hubs could quickly affect supply chains. “The biggest immediate effect will be due to the blockade of Jebel Ali Port, serving about 50 million people,” Bhanu said.In such a scenario, countries including Qatar, Kuwait and Bahrain could effectively become dependent on land-based transport routes through Saudi Arabia for essential food imports. Analysts say this would significantly increase logistical complexity and transportation costs.

The port of Jebel Ali in Dubai is one of the region’s largest trade hubs, acting as a distribution centre for food and consumer goods across the Gulf.Strategic reserves and market responseDespite the risks, Gulf authorities say supply levels remain stable for now. The United Arab Emirates has said its strategic reserves of key food and consumer goods can cover between four and six months of demand.Officials have also urged residents to report unjustified price increases through a government hotline designed to prevent market manipulation during periods of uncertainty.Retailers across the Gulf say supermarket shelves remain largely stocked, although suppliers are taking longer to replenish certain products as logistics chains adjust to the evolving security situation.

Iranian missile strikes targeting Gulf areas since Saturday triggered brief bouts of panic buying in some supermarkets, highlighting the sensitivity of regional markets to geopolitical tensions.“Perception of risk matters, and even if stocks are sufficient now, public runs on supermarkets can spook the public,” Quilliam said.