India’s rapid data centre buildout is opening up a parallel market for cooling and thermal management, with the segment projected to see $2-2.5 billion in investments over the next few years as higher computing loads increase heat intensity.

The country’s operational data centre capacity has expanded fourfold since 2020 to about 1.5 GW and continues to scale up, pushing operators to adopt more advanced cooling systems. Traditional air cooling is increasingly being supplemented by liquid-based technologies as facilities deal with higher rack densities and energy consumption.

What do analysts say?
“We expect India’s data centre capacity to reach 3-3.5 GW in 4-5 years from about 1.5 GW now. At roughly $1.3 billion per GW for cooling, this implies $2-2.5 billion capex for incremental capacity,” Yijing Ng, analyst at S&P Global Ratings, said.

India’s domestic liquefied petroleum gas (LPG) production has declined in April even as supply remains adequate, with incoming shipments from West Asia providing relief amid disruptions in the Strait of Hormuz.

Domestic LPG production has dropped to around 46,000–47,000 tonne from about 50,000 tonne in the last week of March 2026. “The decline is due to a change in refinery configuration due to a slight change in crude oil mix,” said Sujata Sharma, joint secretary in the oil ministry, adding that there is “sufficient” quantity of the cooking fuel available.

The development comes amid continued disruption in the Strait of Hormuz, a key transit route for LPG imports. Two more Indian-flagged LPG tankers have safely crossed the waterway and are headed for Indian ports.

India has recorded its highest-ever annual wind capacity addition, installing 6.05 GW in FY26, up 46% from FY25. The previous high of 5.5 GW annual capacity was added in FY17.

The total wind power capacity has now crossed the 56 GW mark, the renewable energy ministry said on Monday.

States such as Gujarat, Karnataka and Maharashtra led the capacity additions during the year, driven by a mix of standalone wind projects and hybrid installations combining wind and solar.

The expansion of green energy open access has further supported demand from commercial and industrial consumers, the ministry said.

The Centre has rolled out a series of measures to support the sector, including concessional customs duty on key components, waiver of inter-state transmission system (ISTS) charges until June 2028, and dedicated renewable consumption obligation frameworks for wind energy.

Smartphones segment in India is seeing a positive outlook even though the ongoing West Asia crisis has affected several other sectors, an Oppo India executive said.

Goldee Patnaik, head of communication at Oppo India, said on Monday that the outlook looks promising at the moment and the war does not seem to be having an impact.

Quoting International Data Corporation (IDC) figures, he said the mid-premium segment grew 23% y-o-y last year, premium segment was up 37% and the super premium segment surged 7%. However, the entry-level segment saw a downward swing of 8%.

“It is part of the ecosystem. Also, mobiles have become part of life,” he said, while answering a question on whether the new models will be launched at increased prices due to various factors, including inflation and stock markets not performing well.

Hotels of Thailand headquartered Minor International are 'suffering' in the Middle East, but the conflict there could lead to an upward interest in India, said William E. Heinecke, founder and chairman of Minor International, that runs hotels, restaurants, and lifestyle brands, in an interview with ET. Minor International is the parent company of Minor Hotels.

“There is no question that the war in the Middle East is affecting bookings and air travel. We are seeing postponements in the Middle East for the second quarter running into the fourth quarter. But, the positive side is that we have seen many more Indian enquiries coming into Asia that could have gone to the Middle East.,” said Heinecke.

“People aren’t really stopping travel. They are rearranging and postponing it. We are also benefiting from business moving into other parts of the world. Everyone is seeking safer alternatives, and we also expect travellers in Asia and Australia to probably look at increased travel to India as opposed to the Middle East.

Leading consumer goods makers and retailers, including AWL Agri Business, Dabur India, Marico, DMart and V-Mart Retail, reported a rebound in sales in the March quarter, driven by a recovery in volumes stemming from goods and services tax (GST) rationalisation in September last year. Companies remain optimistic about a further uptick in consumption in the coming quarters, despite the Gulf conflict.

Marico and Dabur India reported high single-digit, year-on-year underlying volume growth in their domestic business in the March quarter, according to earnings updates, while staples player AWL Agri Business reported double-digit volume growth, led by edible oils, where volume rose 17%, and industry essentials. Dairy major Gujarat Cooperative Milk Marketing Federation, which owns the Amul brand, reported 11.4% growth in sales to Rs 73,450 crore in FY26.

The free television streaming model on smart TVs is likely to face regulatory scrutiny, with the Telecom Regulatory Authority of India (TRAI) proposing a formal framework to regulate such platforms, while pointing to concerns around licensing, content accountability and fair competition.

In a consultation paper, the regulator has evaluated the rise of Free Ad-Supported Streaming Television (FAST) services that includes platforms such as Samsung TV Plus, LG Channels and Pluto TV which offer scheduled television channels over the internet without subscription fees, funded by advertising.

The regulator has responded to a reference from the Ministry of Information and Broadcasting (MIB), which flagged that such services are currently being offered without any licensing or registration framework despite distributing television channels to the public.

Electric two-wheeler manufacturers are preparing for a challenging April after record-breaking March sales, as a global aluminium shortage threatens to raise production costs, compress margins, and force price increases that could dampen consumer demand.

Aluminium prices are hovering around four-year highs of $3,500–$3,600 per tonne on the London Metal Exchange, driven by supply shocks linked to geopolitical tensions in the Gulf and disruptions at key smelters such as Emirates Global Aluminium, and Aluminium Bahrain (Alba).

What do researchers say?
“Auto and auto component makers are evaluating production optimisation, greater use of recycled aluminium and alternative materials to manage the situation,” said Poonam Upadhyay, Director at Crisil Ratings.

Indian refiners have postponed scheduled maintenance shutdowns at several units to ensure adequate fuel supply in the domestic market, a government official said, according to a Reuters report.

State-run refiners, including Indian Oil Corporation and Bharat Petroleum Corporation, were among those that had planned routine maintenance at some of their refineries, Sujata Sharma, joint secretary in the oil ministry, said. However, these plans have been deferred to meet rising local demand for fuels, the report said.

Nayara shutdown may impact LPG supply
In contrast, Nayara Energy is set to proceed with a maintenance shutdown of its 400,000 barrels per day Vadinar refinery from April 9.

The shutdown is expected to tighten the supply of liquefied petroleum gas (LPG) in the country, Sharma said, as per Reuters.

Earlier delays due to sanctions
Nayara had originally planned the refinery maintenance last year but postponed it due to challenges in procuring critical equipment following European Union sanctions, the report added.

The government will increase supply of LNG to urea plants to 90% of their average capacity from Monday thus boosting output prospects, according to an official statement on Sunday.

“Considering the available inventory and scheduled LNG cargo arrivals, overall gas supply available to fertilizer plants will be increased to approximately 90% of their average consumption over the preceding six months, effective April 6, 2026,” according to the statement.

Higher supplies of LNG is likely to boost urea production ahead of forthcoming kharif season, when farmers start applying soil nutrient by the end of June after sowing of paddy, an official said.

Currently, supply of LNG, a key feedstock for urea manufacturing, is supplied to plants at around 70-75% of their last six months average consumption, it stated.

Indian Energy Exchange (IEX) reported its highest-ever electricity traded volume of 141 billion units (BU) in FY26, marking a 17% year-on-year (YoY) rise.

IEX states that it also recorded its highest-ever yearly trade of renewable energy certificates (RECs), with 187.20 lakh RECs traded during FY26, up 5% YoY.

Power prices fall despite demand growth
India’s power demand grew modestly by 1.1% YoY during FY26. However, higher generation from wind, hydro, solar, and coal-based sources improved supply liquidity on the exchange, leading to a sharp decline in power prices.

The average market clearing price in the day-ahead market (DAM) fell 13.7% YoY to Rs 3.86 per unit, while the real-time market (RTM) price declined 16% YoY to Rs 3.59 per unit.

Q4 sees sharp jump in volumes
In the March quarter (Q4FY26), IEX recorded its highest-ever quarterly electricity traded volume at 39.4 BU, up 24.3% YoY.

The exchange also saw strong traction in the REC segment, with 71.70 lakh RECs traded during the quarter, registering a 6.1% YoY increase.

While the impact of the ongoing West Asia war has been limited for Indian IT service companies so far, analysts in their fourth-quarter preview have highlighted some pockets of potential weakness for the industry.

“The ongoing Middle East crisis poses a moderate short-term risk to Indian IT firms with exposure to regional energy and utility clients. Geopolitical uncertainty may delay discretionary spending and new projects, while raising operational concerns regarding infrastructure resilience, travel, and employee safety,” analysts at HDFC Institutional Research noted.

Companies such as Tata Consultancy Services, Infosys, HCLTech, Wipro and Birlasoft derive 6-17% of their revenue from the energy & utilities sector, but the impact on existing projects is expected to remain contained, as most delivery operations are anchored offshore in India and mission-critical programmes typically persist despite regional volatility, they said.

India’s auto dealers on Monday warned of possible supply or dispatch disruptions in the near term as the West Asia conflict drove up raw material costs, even as the fiscal year's total sales hit a record high.

The broader operating environment is clouded by the conflict, the Federation of Automobile Dealers Associations (FADA) said in a statement.

The war has pushed up oil and gas prices, raising fuel and logistics costs across the auto supply chain, while also driving up prices of key metals such as aluminium, copper and steel used in vehicle manufacturing.

Last week, India's top carmaker, Maruti Suzuki, said that it will likely raise prices as the war pushed up commodity prices.

Commerce secretary Rajesh Agrawal Saturday asked the pharmaceutical industry to reduce its dependence on critical imported raw materials by meeting atleast 80-90% of domestic pharmaceutical requirements through indigenous production.

Addressing an event in Hyderabad, he said while India exports to around 200 countries, there remains significant scope for expansion and resilience-building through a stronger market presence.

Emphasising the need to navigate an increasingly uncertain and geopolitically volatile global environment, he said: “The importance of ensuring greater self-reliance by meeting 80-90% (or higher) of domestic pharmaceutical requirements through indigenous production, while reducing critical import dependencies in APIs, bulk drugs, and intermediates”.

India’s pharmaceutical exports maintained steady momentum this financial year, nearing the $29 billion mark through February, even as global markets remained volatile.

K Raja Bhanu, Director General of the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL), said the sector has continued to show resilience, registering moderate but consistent growth.

"Inspite of global challenges, pharmaceuticals exports have been one of the few sectors that has maintained its growth momentum. Pharmaceutical exports during the period April-February FY26 stood at USD 28.29 billion, reflecting a growth of 5.6 per cent compared to the same period in FY25 led by formulations, biologicals, vaccines and Ayush products," he said.

India's passenger vehicle industry growth is expected to moderate to 4-6 per cent in FY27, largely due to the high base and evolving macroeconomic conditions, ratings agency ICRA said on Friday.

For FY26, the industry is estimated to report wholesale volume growth of around 7-9 per cent, supported by strong festive demand, GST rate cuts and multiple new model launches, ICRA said in a statement.

"The industry continues to witness structural shifts, with utility vehicles accounting for nearly 67 per cent of overall sales, reflecting sustained premiumisation trends," it said.

Further, rising penetration of alternative powertrains such as CNG and electric vehicles is aiding demand diversification, ICRA said.

In a first since fuel price deregulation, Indian state-run oil marketing companies will pay refineries a discounted price for petrol, diesel, aviation turbine fuel (ATF) and kerosene to limit mounting losses from a self-imposed freeze on retail fuel prices, sources said.

The oil marketing companies (OMCs) on March 26 fixed rates for petroleum products that are at a discount of up to Rs 60 per litre to their imported cost, two people with direct knowledge of the matter said. The discounted rates, which are applicable with effect from March 16, will hit standalone refiners such as MRPL, CPCL and HMEL the most.

The TV industry, which already faces soaring prices of memory chips (RAM), is bracing for a decline in sales, weighed down by rising cost of plastics to ocean freight on account of ongoing geopolitical tensions in West Asia.

Some manufacturers are also flagging concerns over a potential downtrading trend as buyers shift towards smaller screen sizes amid rising prices. Moreover, rupee depreciation has pushed up overall production costs, leading to higher television retail prices.

Larger brands have absorbed some cost pressure. Moreover, some companies have not passed on the entire cost increase, trying to maintain their market share in the Indian TV market considered to be highly competitive.

Moreover, consumers are also delaying their purchases; however, some recovery is expected in the festive season in the second half of the year.

All Indian broadcasters have shifted their operations entirely to satellites of non-Chinese companies, amid the government's move to not allow China-linked players to continue services in India, people aware of the details told ET.

Starting April 1, satellite players like Chinasat and ApStar cannot offer any kind of service in India. AsiaSat has got a short-term breather from space industry regulator IN-SPACe-it can be used occasionally and by international TV channels with downlink-only permission for three more months.

"The Chinese-linked players won't be allowed to offer services in India given the sensitivity of the space sector," said one of the people. IN-SPACe had last year withdrawn authorisation for the use of satellite capacity from AsiaSat's AS-5 and AS-7 satellites in India beyond March 31, 2026.

The government is likely to take more measures to address the challenges faced by the exporters and freighters on increased freight costs, said a source from the Ministry aware of the matter. Also, the source confirmed that the government will also likely take measures to bring some relief in terms of rising insurance premiums.

“Customs duties have been tweaked after the war began to ensure availability of petrochemical products. We also aim to address concerns on increased freight costs due to diversion of exports via longer routes. We are also considering some relief on the insurance front too,” said an official aware of the matter.

There has been a massive surge in shipping costs with freight rates rising over 200-300% and war risk insurance premiums spiking.