ICRIER presents Issue 2 of the India Macro Monitor, its quarterly assessment of India’s macroeconomic landscape. This edition examines developments across economic activity, inflation, employment, the external sector, and financial markets, alongside three focused analyses of emerging macroeconomic developments:
1. the implications of the 2026 El Niño for agricultural conditions and food inflation;
2. the effectiveness of RBI interventions in stabilising the rupee amid persistent external pressures; and
3. the performance of the Nifty 50 relative to global equity markets, with a focus on returns, volatility, and risk-adjusted performance.
The issue combines high-frequency indicators with deeper data-driven analysis to identify emerging risks, assess policy responses, and provide a timely perspective on India’s evolving macroeconomic conditions.
