Welcome to The morning report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point.
India has 50 days of oil stocks amid West Asia tensions, says government
India is closely monitoring the West Asia conflict and has assured that the country holds 25 days of crude oil stocks and an equal amount of refined products, giving 50 days of supply coverage. With nearly half of India’s crude imports now passing through the vulnerable Strait of Hormuz, a 24/7 control room has been activated to track developments with refiners and shippers. Officials said India can tap alternative suppliers from the US, South America and West Africa if needed. There are no immediate plans to hike fuel prices, and the government remains confident that energy availability and consumer interests will be protected.
Airline ticket prices soar on Asia-Europe routes after Gulf airport closures
Major Gulf hubs, including Dubai—the world’s busiest international airport—remained closed for a fourth day, severely disrupting global travel. Australians are rerouting to Europe via China, Singapore, other Asian hubs, and even North America as Emirates and Qatar Airways halt key routes. Airlines with non‑stop Asia–Europe operations, such as Cathay Pacific, Singapore Airlines and Turkish Airlines, are seeing surging demand, leading to sold‑out flights and sharply higher fares. Alternate routings via the Caucasus or Egypt add flight time and fuel costs, threatening airline profitability. Carriers across Asia report fully booked Europe-bound services, with ticket prices soaring far above normal levels amid the widespread airspace closure.
SEBI’s overlap rule may trigger ₹76,000-cr MF portfolio rejig
Mutual fund houses may need to realign portfolios worth about ₹76,000 crore to meet SEBI’s new rules limiting portfolio overlap between schemes. An Elara Securities analysis found 51 sectoral and thematic funds with over 50% overlap, though only 13 sizeable schemes show overlaps above 52%. SEBI has given a three‑year phase‑in period, requiring 35% adjustment in each of the first two years and 30% in the final year. Most changes are expected in smaller schemes, with estimated selling needs of ₹5,890–₹6,135 crore. Overlaps are mainly in large‑cap stocks, and the rules may eventually encourage more diversified portfolio construction.
GST registrations rose over 5 lakh in 4 months
GST registrations have risen sharply since November, with monthly additions averaging over 1.25 lakh after the rollout of a simplified registration scheme for small and low‑risk businesses. Total registrations grew from 1.56 crore in October 2025 to 1.61 crore by February 2026. The new Rule 14A allows automated approvals within three days, driving a surge in SMEs joining the tax net. Experts also cite Aadhaar‑based authentication, wider e‑invoicing use, and strong import momentum—reflected in a 17% rise in IGST on imports—as key contributors. The simplified framework for e‑commerce sellers has further expanded India’s GST base and strengthened compliance.
Published on March 4, 2026