Dashboard

• The closure of the Strait of Hormuz due to war in the Middle East has triggered significant negative consequences for the global economy. • The crisis has highlighted critical structural vulnerabilities and the extreme sensitivity of international trade to disruptions in this strategic maritime corridor. • This event matters because the Strait is a primary artery for global oil and gas shipments, meaning any blockage threatens energy security and price stability.

• India will launch its first-ever Index of Services Production (ISP) in July to accurately measure the output of the country's critical services sector. • The new index is designed to track short-term shifts in services production, complementing the existing Index of Industrial Production (IIP). • This initiative matters because it fills a significant data gap in India's economic dashboard, providing a more comprehensive pulse of the overall economy.