Niharika Sen writes on development economics — the mechanisms that let some economies pull vast populations out of poverty and leave others stuck. She writes in a register that is accessible without being thin.
Recent work
What the Fed's Silence Tells Emerging Markets About Dollar Dependency
The Federal Reserve released minutes from its June 16–17, 2026 FOMC meeting, a routine disclosure that nonetheless carries outsized weight for emerging economies. For India, every signal embedded in Fed deliberations travels through capital flows, currency markets, and the RBI's own rate-setting calculus. The structural asymmetry — where one central bank's domestic decision becomes another country's external shock — remains the defining tension in global monetary governance.
ONGC's Next Chairman Needs More Than a Longer Lease
The government has relaxed eligibility criteria for the ONGC chairmanship — raising the maximum entry age to 59 and offering a three-year term extendable by two more. The post falls vacant in December when Arun Kumar Singh completes his extended tenure. The rule change is the right signal; whether it translates into strategic coherence at India's largest oil and gas producer depends on what comes attached to the longer mandate.
Lagarde Holds the Line on Rates — and Indian Exporters Feel the Draft
Christine Lagarde's interview with Les Échos confirms that the ECB's June 2026 rate increase was deliberate and data-driven, not reactive to geopolitical noise. With inflation projections sitting at 3% for 2026 and services prices running half a point above forecast, Frankfurt sees no reason to blink. For Indian exporters invoiced in Euros — pharmaceuticals, textiles, engineering goods — the question is less about ideology and more about margin arithmetic.
India's Financial System Holds Firm as Global Fault Lines Deepen
The Reserve Bank of India's June 2026 Financial Stability Report finds India's scheduled commercial banks and non-banking financial companies resilient across capital, liquidity, and asset quality metrics, even as global financial stability risks remain elevated from West Asia conflict, supply chain uncertainty, and stretched asset valuations in advanced economies. Macro stress tests confirm capital ratios hold above regulatory thresholds under adverse hypothetical scenarios. The report positions India as a stability anchor in a fragile global environment, backed by coordinated fiscal-monetary policy action to strengthen capital inflows.
India's OTT Subscription Economy Has a Hidden Billing Problem
India's vast OTT subscriber base faces a structural consumer protection gap as platforms employ auto-renewal defaults and poorly disclosed multi-device restrictions. The ZEE5 controversy around FIFA 2026 access brought the issue into the open, but it represents a systemic pattern. With regulatory authority fragmented across three ministries, India's digital subscription economy continues to operate in a disclosure vacuum that disadvantages ordinary consumers.
India's IT Giants Navigate Historic Workforce Transformation as AI Matches Human Scale
TCS Chairman N. Chandrasekaran's projection that AI agents will match human workers in three years marks a watershed moment for India's $315-billion IT sector. The transformation challenges traditional hiring models while potentially reshaping the country's middle-class employment engine.
IFC's $105 Million Hygenco Investment Validates India's Green Hydrogen Hub Ambitions
The International Finance Corporation leads a $105 million investment into India's Hygenco Green Energies, supporting multiple commercial green hydrogen projects nationwide. The funding validates India's positioning as a global green hydrogen hub while advancing the National Green Hydrogen Mission's 2030 targets through private sector partnerships.
Delhi Airport's Mall Strategy Powers Indian Aviation Infrastructure Beyond Traditional Models
Delhi airport's swing to ₹476.9 crore profit demonstrates how India's aviation infrastructure has matured beyond traditional aeronautical charges. GMR Group's 'mall in an airport' model generated 81% of net income from retail, food, and cargo operations, validating the privatization strategy for Indian airport development.
Indian Banks Tap Surplus Funds as Credit Outpaces Deposits
Indian public sector banks are increasingly using surplus liquidity and short-term RBI borrowings to support credit growth as deposits fail to keep pace. State Bank of India exemplifies the trend, with loan growth of 16.9% compared to deposit growth of 11%. Analysts warn this pattern creates systemic risks and constrains monetary policy flexibility.
RBI's Weekend Money Market Freeze Signals Deepening Liquidity Surplus
RBI's money market operations show complete absence of interbank trading over weekend sessions, with central bank forced to absorb massive surplus liquidity through standing deposit facility operations. The pattern suggests fundamental shifts in banking system cash management.
Bollywood's VFX Crisis Exposes India's Creative Economy Vulnerability
Bollywood's repeated VFX failures, from Ramayana to Adipurush, reveal deeper structural problems in India's creative industries. Despite massive budgets, rushed production timelines and poor technical standards are damaging India's cultural export potential.