India Navigates Hawkish RBI Turn and Rupee Trade Push as Oil Bills Surge

India's central bank has flipped its script. After months of cautious cuts, the RBI's August minutes reveal a hawkish pivot, with Governor Sanjay Malhotra warning that a "recalibration" of the policy rate may be needed as inflation risks broaden.

Trade Routes

• West Asia: Crude oil import bill surged 41% to $13.7 billion in July, driven by volatile Brent prices averaging $82.04/barrel amid regional instability.
• United States: 25-50% safeguard duties...