FICCI FLO, under the leadership of National President Ms. Puja Garg, hosted an insightful webinar, “The Economy of Everything,” with IIM Bangalore’s Economics Professor, Mr. Chetan Subramanian, who shared top insights into how India’s economic health is interwined with global geopolitical and structural shifts.
He converted complex economic indicators into easily digestible concepts. From providing an in-depth look into India’s Balance of Payments (BoP) to the close analysis of it’s Current Account Deficit (CAD), driven by high oil and gold imports, Professor Subramanian highlighted the alarming depreciation of the Indian Rupee and the country turning into a net borrower, according to the report of International Monetary Fund (IMF).
Also, the renowned Economics professor discussed how India’s remittance engine slowed, and the country purchased more US dollars to pay for its energy inputs due to 2026 U.S-Iran–Israel war. The conflict has already triggered significant energy shocks in India, sending global crude oil and liquefied petroleum gas (LPG) costs soaring.
While India is battling import-driven inflation, China is encountering structural deflation and aggressive US tariffs, leading to cheaper Chinese products that are currently undercutting local manufacturers in India. The webinar continued to address questions about capital flows, FDI challenges, AI’s impact on jobs, and India’s efforts to diversify trade routes beyond the US market.
The virtual session concluded with participants asking questions from the IIM Economics professor about supply-side shocks, inflation targeting, and the potential for BRICS currencies to challenge the US dollar’s dominance. Professor Subramanian said that both trust and stability are crucial factors for any currency to become a reserve currency.
Around 149 members participated in this engaging webinar, who learned insights into how core economic concepts impact daily decisions and real-world outcomes. The Economy of Everything session was hosted under the FLO Financial Literacy initiative, led by day chairs, Ms. Priyanka Gulati, Initiative Lead, and Ms. Poonam Mohapatra, Initiative Co-Lead along with the support of team members: Shweta Agarwal, Seema Kothari, and Dr. Namrita Chahal.