Geopolitical events
On August 3, 2026, the Indian Ministry of Finance announced the "National Energy Security Fund," a $15 billion public investment initiative aimed at doubling the country's strategic petroleum reserves and accelerating the deployment of domestic green hydrogen infrastructure. This fiscal policy is a strategic response to the continued paralysis of global energy corridors and the resulting 60% surge in crude oil import costs. Prime Minister Narendra Modi characterized the move as a "sovereign necessity to insulate the national economy from the extreme volatility of the West Asia War."