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US consumer prices are expected to have increased in September, driven by higher gasoline and food costs, adding to concerns about household purchasing power ahead of the November 3 midterm elections. The upcoming Consumer Price Index (CPI) report is also likely to influence the Federal Reserve’s decision on whether to raise interest rates again this month.

Economists surveyed by Reuters expect the CPI to have risen 0.6% in September, compared with a 0.4% increase in August. Annual inflation is forecast to reach 3.6%, up from 3.4% in the previous month.

The anticipated rise comes amid weakening consumer sentiment and declining approval ratings for President Donald Trump. A Reuters/Ipsos poll reported that around 78% of Americans blamed Trump’s policies, including import tariffs and the US-Israeli war with Iran, for rising prices.

Food and Energy Costs Drive Inflation Concerns

Gasoline prices increased 7.1% in September, according to data from the US Energy Information Administration. Economists estimate that the increase could contribute approximately 0.3 percentage points to monthly CPI inflation.

Food prices are also expected to have risen by at least 0.2%, following two consecutive monthly increases of 0.1%.

These costs are particularly significant for households that spend a larger share of their income on essential goods and services. While inflation excluding food and energy is expected to moderate, consumers continue to face pressure from expenses they encounter regularly.

Sung Won Sohn, a finance and economics professor at Loyola Marymount University, said consumers pay close attention to food and energy prices because they affect everyday spending. He also noted that lower-income households are particularly exposed to these increases.

The divergence in economic conditions between higher-income households and those facing greater financial pressure is often described as a K-shaped economy. In this situation, different sections of the population experience different economic outcomes, with some benefiting from stronger financial conditions while others struggle with rising living costs.

Core Inflation May Show a More Moderate Increase

Core CPI, which excludes food and energy prices because of their volatility, is forecast to have increased 0.2% in September, compared with 0.3% in August. Annual core inflation is expected to reach 2.5%, up from 2.4%.

The projected monthly moderation may partly reflect the fading impact of a previous increase in mobile phone prices linked to service changes at AT&T. However, higher fees from other service providers could continue to influence the figures.

Airline fares are also expected to have risen as jet fuel prices increased, while rents may have recorded moderate gains. Goods prices are forecast to have risen marginally as the effects of import tariffs continue to work through the economy.

Despite the expected moderation in core inflation, economists warn that higher energy costs could gradually affect other sectors. Rising diesel prices may increase transportation and distribution expenses, potentially pushing up supermarket prices and other consumer costs.

The extent of this pass-through remains uncertain, but businesses could face further pressure if energy prices remain elevated.

Federal Reserve Faces a Difficult Policy Decision

The Federal Reserve raised its benchmark interest rate by 25 basis points in September, bringing the target range to 3.75%–4.00%. It was the first rate increase in three years, and policymakers indicated that additional increases could follow.

However, weaker-than-expected employment growth in September and cooler inflation readings from July and August have reduced expectations of another increase in October.

Financial markets had assigned an approximately 22% probability of a rate hike at the Federal Reserve’s October 27–28 meeting, according to the CME FedWatch Tool cited in the report.

Scott Anderson, chief US economist at BMO Capital Markets, said a monthly core CPI increase around 0.2% could support the Federal Reserve holding rates steady in October. He added that the figure would not resolve the debate over whether further increases would be necessary later.

Economists expect the central bank could raise rates again in December. The September inflation report will therefore be closely watched for signs of whether price pressures are broadening beyond food and energy.

Social Security Benefits Also in Focus

The inflation report is important for millions of retirees and other recipients of Social Security benefits because consumer price data helps determine annual cost-of-living adjustments.

The Social Security Administration uses the Consumer Price Index for Urban Wage Earners and Clerical Workers to calculate adjustments for Social Security and Supplemental Security Income benefits. The calculation compares data from the third quarter of the previous year with the third quarter of the current year.

The Senior Citizens League has projected a 3.5% cost-of-living adjustment for 2027, compared with 2.8% in 2026. Under that estimate, the average monthly retirement benefit would increase by $67.90 to $2,007.

The final adjustment will depend on the official calculation rather than the projection.

With household budgets under pressure, the September CPI report is expected to shape discussions around inflation, interest rates and the cost of living. The figures could also influence economic sentiment in the weeks before the US midterm elections, although their political impact will depend on how voters assess the broader economic situation.

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October 12: Understanding how people make financial decisions and how those choices affect the wider economy remains a central challenge for economists. Household spending, business investment and expectations about future economic conditions can influence inflation, employment and growth. The research of American economists Robert E. Hall of Stanford University and Michael Woodford of Columbia University explores these connections and their implications for economic policy.

Their work examines how individual behaviour influences broader economic outcomes. While households decide how much to spend or save and businesses determine investment and pricing strategies, these decisions collectively shape economic activity. Understanding these relationships helps policymakers assess the causes of economic slowdowns and the potential effects of government and central bank interventions.

Robert E. Hall: Understanding Household Spending

Hall’s research has contributed to the understanding of how people make consumption and saving decisions based on their financial circumstances and expectations about the future. Household spending is influenced not only by current income but also by expected earnings, employment security and access to credit.

For instance, people who expect stable employment may continue spending on everyday needs and larger purchases. However, those concerned about job security or declining income may postpone purchases and save more, even before experiencing an actual financial setback.

When many households adopt similar behaviour, the consequences can extend across the economy. Reduced consumer spending can weaken business revenues, discourage investment and affect employment. These developments can further reduce household confidence, creating a cycle that makes an economic slowdown more difficult to reverse.

Hall’s work on consumption and the permanent-income hypothesis examines how expectations about long-term income influence spending decisions. It helps explain why temporary changes in income may have different effects on consumption depending on whether households believe those changes will persist.

These insights are relevant to economic policymaking because consumer behaviour can change before the full effects of an economic downturn appear in official data.

Michael Woodford: Why Expectations Matter

Woodford’s research focuses on monetary policy and the influence of expectations on economic activity. His work highlights that central banks affect the economy not only through their current interest-rate decisions but also through how people interpret their future intentions.

Interest rates influence borrowing costs, savings decisions and business investment. However, households and businesses also consider what interest rates and inflation might look like in the months and years ahead.

For example, if a central bank communicates a credible commitment to controlling inflation, businesses may take that information into account when setting prices, while households may adjust their spending and borrowing plans. If policy intentions are unclear, uncertainty can make financial planning more difficult.

This explains the importance of forward guidance, through which central banks communicate their expected policy direction. Such communication can influence economic decisions before any further change in interest rates takes place.

However, communication alone cannot guarantee a particular outcome. Unexpected economic developments, changing inflation pressures or declining confidence in policymakers can alter public expectations. The effectiveness of monetary policy therefore depends partly on whether its decisions and commitments are considered credible.

How Individual Choices Affect the Economy

The connection between household behaviour and monetary policy becomes clearer when individual decisions are considered collectively.

When consumers reduce spending, businesses may face weaker demand and respond by cutting production, delaying expansion or adjusting prices. If these changes affect employment and wages, households may become more cautious about their finances, further reducing economic activity.

Central banks attempt to influence these conditions through monetary policy, including adjustments to interest rates. Lower rates can encourage borrowing and investment, while higher rates can moderate demand and help control inflation. The results, however, depend on how households, businesses and financial institutions respond.

Economic conditions also vary across different groups. A household with substantial savings may respond differently to an interest-rate change than one relying on credit. Similarly, a large company with strong cash reserves may be less affected by borrowing costs than a small business that depends on bank loans.

Recognising these differences helps economists understand why the same policy can produce varied results across the economy.

Implications for Governments and Central Banks

The relationship between individual decisions and broader economic outcomes has important implications for policymakers.

Governments designing tax measures, public spending programmes or financial assistance need to consider how these decisions may influence household consumption and business investment. Central banks must assess how interest-rate changes affect inflation, employment, credit demand and economic growth.

Timing is another important consideration. Financial markets may react quickly to a policy announcement, while changes in household spending and business investment can take longer to emerge. Policymakers must therefore evaluate both immediate responses and longer-term effects.

Economic models provide a framework for examining these relationships and comparing possible policy outcomes. However, they cannot account for every unexpected development. Geopolitical tensions, energy-price changes and sudden shifts in confidence can influence behaviour in ways that are difficult to predict precisely.

Reliable economic data, careful analysis and clear communication remain essential for responding to these uncertainties.

The Wider Significance of Their Research

Hall’s and Woodford’s work highlights the importance of understanding how individual decisions interact with economic policy. Consumer confidence, expected income, future interest rates and business expectations can all influence the direction of economic activity.

For policymakers, the challenge is to account for these responses when addressing inflation, supporting employment and maintaining economic growth. Policies must be evaluated not only by their immediate objectives but also by how people and businesses are likely to react.

The broader lesson is that economic stability depends on more than government decisions or central bank actions alone. It also depends on how those decisions influence expectations and shape behaviour throughout the economy. Understanding these connections provides economists with a stronger basis for evaluating policy choices and responding to changing economic conditions.

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The United States has suspended eight major technology and IT services companies from its employment-based green card certification programme, affecting firms including Infosys, Tata Consultancy Services (TCS), Wipro, HCL Technologies, Cognizant, Capgemini, Microsoft and Adobe. The Trump administration said the decision was part of a broader effort to investigate alleged misuse of employment-based immigration programmes and prioritise hiring American workers.

US Labour Secretary Keith Sonderling announced the suspension alongside Vice President JD Vance. The Department of Labour said it would stop accepting new permanent labour certification applications involving the named companies and would not process their pending applications. The move places additional restrictions on a pathway commonly used by skilled foreign professionals seeking permanent residency in the country. .

What triggered the US action?

The administration has accused some employers of exploiting foreign-worker visa programmes while reducing employment opportunities for American workers. Officials cited concerns about hiring practices, alleged fraud and the use of foreign labour following layoffs in the United States.

Vance specifically criticised Microsoft’s employment practices, linking the company’s workforce reductions with its use of foreign-worker visas. He argued that companies operating in the US should prioritise American workers when filling positions.

Microsoft disputed the broader characterisation of its visa practices. According to the company’s statement cited in the supplied report, around 80% of its approximately 6,000 H-1B applications in its previous fiscal year involved extending or changing the status of existing employees rather than hiring new workers. The company also said the remaining applications covered individuals already legally present in the United States who chose to join it.

Microsoft maintained that its H-1B petitions were filed for workers who met the programme’s requirements and that its compensation practices were competitive.

The allegations against the companies remain distinct from a final finding of wrongdoing. The suspension comes amid heightened federal scrutiny of employment-based immigration, with the administration seeking to strengthen enforcement and increase domestic hiring.

Understanding the PERM programme

The Permanent Labour Certification Programme, commonly known as PERM, is administered by the US Department of Labour. It generally requires an employer sponsoring a foreign worker for a qualifying permanent position to demonstrate that there are not sufficient qualified, willing and available American workers for the job and that employing the foreign worker will not adversely affect the wages and working conditions of similarly employed US workers.

PERM is an important stage in many employer-sponsored employment-based green card cases. A green card grants lawful permanent resident status in the United States.

The programme is separate from the H-1B visa system, which allows eligible US employers to employ foreign professionals in qualifying specialty occupations, subject to applicable requirements.

The latest decision does not amount to a blanket cancellation of H-1B visas held by employees of the affected companies. Instead, it restricts their ability to proceed with new and pending PERM labour-certification applications. The consequences for individual employees will depend on their immigration status, the stage of their green card application and the availability of other lawful options.

Why Indian IT professionals could be affected

The decision is particularly relevant to Indian professionals because several of the affected companies have substantial US operations and employ skilled workers across technology consulting, software development, engineering and business services.

For employees pursuing employer-sponsored permanent residency, the suspension could delay or interrupt an important stage of the process. Such uncertainty may affect decisions about long-term employment, family arrangements and career planning in the United States.

The implications could also extend to employers. Companies may need to review their immigration processes, assess the status of affected employees and consider how restrictions on permanent residency sponsorship could influence recruitment and retention.

However, the scale of the eventual impact will depend on how long the suspension remains in place, the outcome of federal investigations and whether the companies can resume certification applications.

The action also comes as Indian technology companies increasingly expand local hiring in the US. Industry representatives have argued that skilled-worker mobility and permanent immigration should be considered separately because businesses rely on international talent to fill specialised roles and support client operations.

Nasscom highlights the distinction between immigration and talent mobility

The National Association of Software and Service Companies (Nasscom) said immigration and skilled talent mobility should not be treated as the same issue.

The industry body noted that the H-1B programme has historically helped US businesses address short-term skill shortages. It also said Indian technology companies have reduced their dependence on H-1B visas in recent years while expanding their local workforce in the United States.

Indian IT firms provide technology services to major US companies and support their operations across several industries. Restrictions on employment-based immigration could therefore raise questions about how businesses balance domestic hiring requirements with access to specialised international talent.

What happens next?

The immediate uncertainty concerns the duration and scope of the PERM restrictions and the progress of the investigations cited by US officials. Employees whose green card cases depend on the programme may need to assess their individual circumstances with qualified immigration advisers.

For Indian IT companies, the development adds another regulatory challenge in a market that remains important for their international business. The longer-term effects will depend on enforcement decisions, possible changes to immigration rules and how employers adapt their recruitment and retention strategies.

The suspension reflects the Trump administration’s stronger emphasis on domestic hiring and scrutiny of foreign-worker programmes. At the same time, it raises broader questions about the relationship between immigration policy, technology-sector staffing and the movement of skilled professionals across borders.

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New Delhi: The Reserve Bank of India’s decision to raise the repo rate by 25 basis points to 5.5% marks a shift in the direction of India’s monetary policy. After years of relatively accommodative conditions and a rate-cut cycle that began in 2025, the RBI has moved back towards tightening as inflationary pressures and global uncertainties become more difficult to ignore.

The significance of the decision goes beyond the quarter-point increase itself. It signals that the central bank is becoming more cautious about the balance between growth and inflation at a time when energy prices, geopolitical tensions and external risks could put renewed pressure on household and business costs.

The immediate trigger is the return of inflationary pressure. Retail inflation increased to 4.82% in August from 4.45% in July, while the continuing crisis in West Asia has added another layer of uncertainty to global energy markets. For an economy that remains heavily dependent on imported crude oil, a sustained increase in energy costs can feed into transportation, manufacturing and consumer prices.

That makes inflation management particularly important for the RBI. Allowing price pressures to become entrenched could eventually require more aggressive monetary tightening, potentially creating a larger impact on economic growth. A measured increase now can therefore be viewed as an attempt to prevent inflation risks from becoming more persistent.

Credit Is Likely to Become More Expensive

The most visible impact of the rate hike will be on the cost of borrowing.

Banks do not necessarily pass on a repo rate increase immediately or in full, but lending rates can gradually adjust as monetary transmission takes place. That means new borrowers could face higher interest costs, while some existing borrowers with floating-rate loans may see their EMIs rise or their repayment period increase.

Home loans and vehicle loans are likely to attract particular attention because even a relatively small change in interest rates can have a significant effect over long repayment periods. Businesses dependent on bank financing could also face a higher cost of capital.

The transmission, however, is unlikely to happen overnight. The RBI has indicated that changes in policy rates typically take time to work through the financial system. This means the full effect of the latest decision could emerge over several months rather than immediately.

The Bigger Question Is Credit Growth

India enters this tightening phase with relatively strong credit growth. Bank credit has been expanding at more than 18%, considerably above its longer-term average of around 12–14%.

That creates a delicate policy challenge.

The RBI does not necessarily want to suppress lending. Strong credit growth supports consumption, investment and business expansion, all of which remain important for economic growth. At the same time, exceptionally rapid credit expansion can contribute to demand pressures and financial imbalances if it continues unchecked.

A moderate slowdown in credit growth may therefore not be viewed as a negative outcome. The objective is to bring credit expansion towards a more sustainable pace without disrupting the underlying economic recovery.

This is where the latest policy decision becomes more significant than the headline rate itself. The RBI appears to be attempting to cool excess demand while keeping the broader flow of credit intact.

Deposits Could Become More Important

Another consequence may emerge on the deposit side of the banking system.

Banks have so far had limited pressure to significantly increase deposit rates in an environment of relatively comfortable liquidity. But if credit demand remains strong while surplus liquidity gradually declines, banks may have to compete more actively for deposits.

That could eventually translate into better returns for savers, although the adjustment is likely to be gradual.

The RBI has also indicated that it prefers liquidity-management instruments such as variable-rate reverse repo operations and open market operations over using the cash reserve ratio as the primary tool for absorbing excess liquidity.

This suggests that the central bank is seeking to manage financial conditions without unnecessarily increasing the burden on banks.

Real Estate Faces a Short-Term Test

The housing market is another area where the impact of higher rates will be closely watched.

Higher home-loan costs can make buyers more cautious, particularly among price-sensitive first-time purchasers. Developers could also face somewhat higher financing costs.

However, the effect may not be enough to fundamentally change the long-term outlook for housing.

Demand in India’s real estate market is increasingly linked to rising incomes, urbanisation, infrastructure development and changing consumer preferences. These structural factors can continue supporting housing demand even when financing conditions become less favourable.

The likely outcome, therefore, may be moderation rather than a major disruption. Premium and financially stronger segments could prove more resilient, while highly leveraged buyers and developers may feel the pressure more quickly.

Growth Versus Inflation

The central issue for the RBI now is the familiar trade-off between growth and price stability.

Higher interest rates can restrain borrowing and demand, but keeping rates too low when inflation risks are rising could create a different problem. The challenge becomes more complicated when inflation is influenced by factors outside domestic monetary policy, such as crude oil prices and geopolitical disruptions.

India’s situation is therefore different from simply following the rate decisions of major global central banks. Domestic growth and inflation conditions remain the primary considerations, even though international developments increasingly affect India’s economic outlook.

The latest hike should consequently be viewed as a signal of caution rather than a declaration that India is entering a prolonged period of aggressive tightening.

For households, businesses and investors, the message is straightforward: the era of increasingly cheaper credit cannot be taken for granted. Borrowers may need to account for higher financing costs, while banks will have to balance strong credit demand with funding requirements.

For the wider economy, the success of the policy will depend on whether inflation can be contained without causing a sharp slowdown in consumption, investment and credit growth.

The RBI’s challenge now is not simply to raise rates. It is to find the point at which inflation is brought under control while India’s underlying growth momentum remains intact.

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Nobel Prize

The 2026 Nobel Prize in Physiology or Medicine has been awarded to Peter Hegemann, Georg Nagel and Karl Deisseroth for their work that led to optogenetics, a technique that allows scientists to control and study nerve-cell activity using light.

The method has transformed neuroscience by giving researchers a way to investigate how specific groups of nerve cells contribute to memories, emotions and behaviour in living brains. The Nobel Committee said the laureates’ discoveries have helped establish new ways of studying the functioning of the brain.

The work began with research into a single-celled alga called Chlamydomonas. Hegemann was interested in understanding how the organism detects light and moves towards a light source. In the early 2000s, Hegemann and Nagel identified channelrhodopsin, a protein located on the surface of the algal cell.

Channelrhodopsin has a distinctive property: when exposed to blue light, it opens a channel that allows charged ions to pass through the cell membrane. This creates an electrical signal. The researchers found that introducing the protein into other types of cells could make those cells responsive to light.

This discovery provided the key component needed to develop a new method for manipulating electrical activity in nerve cells.

Deisseroth subsequently introduced the gene responsible for channelrhodopsin into neurons taken from rats. When the modified nerve cells were exposed to blue light, their activity could be triggered. He reported this breakthrough in 2005.

The technique was taken a major step further in 2007, when Deisseroth demonstrated that light could be used to control genetically modified nerve cells inside the brains of living mice.

The approach became known as optogenetics, combining genetic techniques with the use of light to control specific cells. Unlike earlier methods that often made it difficult to determine whether a particular brain region was directly responsible for a behaviour or function, optogenetics enabled researchers to manipulate selected neural circuits and observe the resulting effects.

The development has helped scientists investigate the neural pathways associated with a range of brain functions. Researchers have used the technique to study circuits involved in memories, emotions and behaviours, including processes relevant to neurological and psychiatric conditions.

The Nobel Committee described optogenetics as providing new opportunities to map the brain and understand relationships between neural activity and behaviour. According to Per Svenningsson, Chair of the Nobel Committee for Physiology or Medicine, the technique provides opportunities for mapping the brain that researchers could previously only have imagined.

The significance of optogenetics extends beyond basic neuroscience. Researchers are also investigating possible medical applications of the technology. One area of research involves using optogenetic approaches in attempts to restore vision in people with visual impairment.

The development of the technique represents a shift in how scientists can study the brain. Rather than only observing which areas become active during a particular process, researchers can manipulate selected neural pathways and examine the consequences.

The discoveries recognised by the 2026 Nobel Prize therefore connect fundamental biological research with a technology that has become an important tool in modern neuroscience. The work of Hegemann and Nagel in identifying channelrhodopsin provided the molecular foundation, while Deisseroth’s experiments demonstrated how the protein could be used as a light-controlled switch in nerve cells and eventually in living brains.

The Nobel recognition highlights the continuing effort to understand how billions of interconnected nerve cells produce complex functions such as memory, emotion and behaviour. Optogenetics has given researchers a more precise way to investigate these relationships and continues to shape research into the workings of the living brain.

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India has called for global trade concerns, including production imbalances and possible market distortions, to be addressed within World Trade Organization (WTO) rules, with Commerce and Industry Minister Piyush Goyal stressing the need for evidence-based measures at the G20 Trade Ministers’ Meeting in Milwaukee, United States.

Addressing the concluding day of the meeting, Goyal said India recognised concerns among several countries over the impact of trade-distorting support on global markets. He said issues such as dumping and predatory pricing should be dealt with through established WTO mechanisms, including anti-dumping and countervailing duties, where supported by evidence and subject to judicial review.

Goyal distinguished between industrial capacity and trade distortion, saying that production capacity by itself should not be treated as a problem. According to him, distortions may emerge when production becomes concentrated in particular locations because of hidden subsidies or other forms of support.

He said efforts to diversify global production and supply chains could be legitimate, but such objectives should not be used to introduce measures outside WTO rules. He also stressed that developing countries should not be required to bear a disproportionate share of the adjustment and should retain sufficient policy space to build their industrial capacity.

The minister said India’s manufacturing base caters to both domestic and international demand. He described the country as a large domestic-demand-driven economy and said India was developing manufacturing value chains covering activities from design to finished products.

Goyal also rejected the characterisation of India as having structural excess capacity in the sectors identified by the G20 Presidency. He said India’s manufacturing expansion is linked to domestic requirements as well as its participation in international supply chains.

Another focus of Goyal’s intervention was the future of the multilateral trading system. He said India’s trade with G20 economies depends on a transparent, non-discriminatory and rules-based framework.

He highlighted the Most-Favoured-Nation principle as an important element of the WTO system, under which members generally extend the same trading terms to other WTO members. Goyal also stressed the importance of consensus-based decision-making and called for maintaining special and differential treatment for developing countries.

He further called for the restoration of the WTO’s two-tier dispute settlement system, which India has previously identified as important for the effective enforcement of multilateral trade rules.

Forced labour in global supply chains was another issue discussed during the meeting. Goyal said India’s commitment to eliminating forced labour was “absolute and unconditional”, while emphasising that trade-related action should be based on specific and verifiable evidence.

He said border measures should not be based on assumptions about entire countries, regions or sectors and should follow due process and WTO rules. India also supports voluntary cooperation among G20 members on eliminating forced labour, provided such cooperation does not create new obligations or become a basis for unilateral trade action.

Goyal pointed to India’s existing legal and policy framework on the issue, including its ratification of International Labour Organization Conventions 29 and 105. He also noted that India amended its Foreign Trade Policy in July 2026 to prohibit imports of goods produced using forced labour.

The Milwaukee meeting also provided an opportunity for India to engage bilaterally with other G20 members. Goyal held meetings with trade counterparts from Australia, Saudi Arabia, France, South Korea and Canada.

The minister reaffirmed India’s support for a fair, transparent, open, inclusive and non-discriminatory multilateral trading system with the WTO at its core. He also emphasised the importance of allowing developing economies sufficient policy space to pursue industrialisation, economic growth and food security.

The G20 Trade Ministers’ Meeting was held under the United States’ G20 Presidency. India’s participation focused on trade rules, production capacity, supply-chain issues, labour standards and the broader functioning of the multilateral trading system.

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Mumbai: On Gandhi Jayanti, as India reflects on its journey toward absolute self-reliance, we stand face-to-face with a stark geopolitical reality. India possesses the largest youth population in human history, with roughly 65% of the nation under the age of 35 and 27% falling within the official youth age bracket of 15–29 years. This demographic dividend represents an unprecedented wave of digital innovation, engineering acumen, and economic capability. When the world looks for solutions in technology, engineering, medicine, and leadership, it looks at the youth of India. You carry on your shoulders the magnificent, towering ambition of a Viksit Bharat—a fully developed, progressive, and self-reliant India. Yet, a silent crisis threatens to break this momentum from within: the country’s youth are navigating an alarming rise in lifestyle-related non-communicable diseases (NCDs) and severe psychological distress. Everything that we have discussed and the journey of the youth to lead the country to 2047 can only be fulfilled when they are healthy. It is a crisis where ignoring and I have witnessed many breakdowns in my practice by young entrepreneurs who had all the opportunities, government backing, and the genius of making an impact.

Data from the Indian Psychiatric Society reveals a devastating shift in our national healthcare landscape. Nearly 60% of all mental health disorders in India are diagnosed in individuals under the age of 35, with the median age of onset dropping to a fragile 19 to 20 years old. Over the past three decades, clinical anxiety among young Indians has surged by over 120%. When measured on the global Mind Health Quotient, Indian young adults scored a dismal 33 out of 100, while citizens over the age of 55 scored 96, demonstrating three times better mental resilience and internal stability than the generation tasked with building the future.

The Double Whammy. This psychological burnout is deeply intertwined with environmental degradation and changing systemic habits. When a poor nutrient and a high carbohydrates diet, a sedentary lifestyle combines with modern environmental toxins—like severe urban air pollution, microplastics, and ultra-processed diets—the body becomes locked in low-grade systemic inflammation. This has driven a massive explosion in youth-onset diabetes, early hypertension, obesity, mental health issues and cardiovascular incidents in individuals under the age of 45.

The Socio-economic Paradox. While the urban workforce faces the inflammation of over-nutrition and lifestyle stress, our rural heartlands continue to fight staggering rates of stunting, wasting, and severe malnutrition in infants and children. We can’t boast of a demographic dividend if our children are undernourished and our youth are chronically exhausted. True progress is not measured by the heights of corporate high-rises, but by the physical resilience of the last child at the absolute grassroots of our society.

Embracing The Great Mahatma. Mahatma Gandhi famously observed, “It is health that is real wealth and not pieces of gold and silver.” True freedom today demands responsible citizenship and proactive social change. The younger generation can step forward as health messengers and dynamic changemakers, bridging the gap between urban wellness frameworks and rural nutritional deficits. To achieve this, the youth can shift from a reactive mindset to proactive biological empowerment, transforming personal habits into strategic tools for nation building.

To equip the youth with the high energy and mental clarity required to lead this national transition, here is a precise five-step program of lifestyle medicine designed to target systemic inflammation and cellular exhaustion:

1. Cellular Nutrition Over Caloric Consumption
Stop looking at food merely through the lens of calories or fuel. On the go, Vada Pau, on the go Samosa, or just a cup of tea on empty stomach because you’re running late, induces a state of a malnutrition which reduces your brain power. View your food as biological weapon to fulfil your dreams. Base your daily diet on a clean diversity of local whole grains, organic vegetables, and high-quality plant or clean proteins. Please include our local millets, seasonal vegetables, nuts and seeds and legumes and pulses. India has a diverse and rich abundance of all these. These choices provide critical micronutrients like Vitamin B12 and Vitamin D, alongside advanced antioxidant support to actively cool internal inflammatory pathways. Systematically eliminate hyper-processed foods and refined white flours that compromise the gut barrier, cause brain fog, and lock the body in metabolic distress.

2. Stress De-Escalation
A stressed mind literally starves a nourished body. When the nervous system shifts into fight-or-flight, blood flow is aggressively redirected away from digestive and immune maintenance. Dedicate just five minutes for walking before meals, or prior to sleep. Follow up with a slow, structured, rhythmic deep breathing as already guided by our ancient wisdom of yoga and Ayurveda. This simple physical act sends an immediate signal of safety to the vagus nerve, lowering circulating cortisol. Practice intentional digital disconnection to give the brain the required white space restores emotional balance.

3. Movement For Renewal
Physical activity is a daily necessity to enhance neural performance and cardiovascular efficiency. Incorporate regular moderate exercise or resistance training to build muscle and nerve strength. Physical exertion triggers the release of brain-derived neurotrophic factors (BDNF), sharpening memory and cognitive processing power. Pair this with a dedicated sleep routine, turning off blue screens an hour before bed. Easier said than done? Deep sleep serves as the body’s ultimate detoxification window, allowing the glymphatic system to sweep away metabolic waste.

4. Build Purpose-Driven Communities
Isolated digital survival can be replaced by real-world ecosystems bound by shared, elevated goals. Cultivating deep, supportive peer relationships acts as a robust buffer against anxiety. Reject modern, substance-driven coping mechanisms like nicotine, excessive caffeine, empty stomach tea or coffee, or alcohol, which mask burnout while worsening biological inflammation.

5. Step into Accredited Leadership

True self-empowerment transitions from personal practice into institutional change. Through our non-profit, Kindness Practice Foundation, we actively build the health leaders of tomorrow, offering accredited training programmes in healthcare. By seamlessly combining modern nutrition with the ancient wisdom of yoga and Ayurveda, this framework empowers every youth to become an internationally accredited certified trainer. Young change-makers gain the professional authority to step directly into their communities, teach preventive health at the grassroots, and systematically dismantle the twin crises of malnutrition and NCDs.

Let’s reclaim national health as the ultimate modern Satyagraha. With small but deliberate steps, India’s youth is ready to secure the agility, focus, and stamina required to carry the nation safely into its next era of global leadership.

I end by wishing a very Happy birthday to the Great Man who taught us that just walking resiliently across the country can bring about drastic historical change.

Jai Hind.

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New Delhi, October 2, 2026: India is observing Gandhi Jayanti today, marking the 157th birth anniversary of Mahatma Gandhi. Across the country, the day is being observed through commemorative programmes and tributes, while a national Sarva-Dharma Prarthana is scheduled in New Delhi.

But October 2 carries significance beyond Gandhi’s birth anniversary. The United Nations also observes the date as the International Day of Non-Violence, giving the day a place on both India’s national calendar and the international calendar. The UN established the observance in 2007 to promote awareness of non-violence and a culture of peace, tolerance and understanding.

Gandhi was born on October 2, 1869, in Porbandar, Gujarat. He later became one of the central figures of India’s freedom movement, using non-violent resistance and civil disobedience as important methods of political mobilisation.

His approach was different from a conventional armed struggle. Campaigns associated with Gandhi sought to bring large numbers of ordinary people into the independence movement through methods including non-cooperation, peaceful protest and civil disobedience.

The Non-Cooperation Movement, the Salt March of 1930 and the Quit India Movement of 1942 became important chapters in the broader struggle against British rule. The Salt March, in particular, turned opposition to the British salt laws into a mass movement and became one of the most recognised episodes of the independence struggle.

The historical record of Gandhi and the freedom movement is extensive and has also been subject to different interpretations and debates. However, non-violence remained a defining element of Gandhi’s political method and public philosophy.

The international significance of October 2 developed decades after Gandhi’s death.

In June 2007, the UN General Assembly adopted a resolution establishing October 2 as the International Day of Non-Violence. The resolution called for the message of non-violence to be spread through education and public awareness and reaffirmed the universal relevance of the principle.

The UN describes Gandhi as a pioneer of the philosophy and strategy of non-violence and notes that his approach has influenced movements for civil rights and social change around the world.

That gives October 2 a significance beyond the Indian independence story. The date is now used internationally to discuss peaceful methods of addressing social and political conflicts.

Non-violence, as used in Gandhi’s political campaigns, did not simply mean remaining passive in the face of injustice.

The UN’s explanation of non-violent action includes methods such as protest and persuasion, non-cooperation and non-violent intervention. Such methods seek political or social change without the use of physical violence.

Gandhi used these principles to encourage participation in India’s freedom movement. His campaigns demonstrated how boycotts, marches, civil disobedience and withdrawal of cooperation could become instruments of mass political action.

This distinction is important because Gandhi’s legacy is often reduced to a single word non-violence while his political strategy involved organised participation, resistance and public mobilisation.

In India, Gandhi Jayanti is marked through official ceremonies, prayer meetings and programmes in schools, institutions and communities. Raj Ghat in New Delhi, where Gandhi’s memorial is located, remains a major site for national tributes.

The 2026 observance also includes a Sarva-Dharma Prarthana in New Delhi, according to the Press Information Bureau.

At the international level, the United Nations continues to mark October 2 as the International Day of Non-Violence. In its 2026 message, UN Secretary-General António Guterres highlighted Gandhi’s example of pursuing change through peace and dialogue and linked the observance to the need to address division, conflict and human suffering through non-violent means.

For India, Gandhi Jayanti is closely connected to the country’s history of independence. For the wider international community, the date has become associated with the broader principle of non-violence.

The two observances overlap but are not identical. One remembers a major figure in India’s freedom struggle; the other uses his birth anniversary to promote a principle that the United Nations describes as having universal relevance.

That dual identity makes October 2 different from an ordinary commemorative date. It connects a specific chapter of Indian history with an international discussion about how societies respond to conflict, disagreement and injustice.

As India marks Gandhi Jayanti in 2026, the occasion therefore looks in two directions at once back at the freedom movement that shaped modern India and outward at the continuing global discussion around peace, dialogue and non-violent action.

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MUMBAI, INDIA – September 26, 2026 — In an era marked by accelerating environmental degradation, rising lifestyle diseases, and an unprecedented global mental health crisis, the 7th Edition of The Restore Awards® took place today at the JW Marriott Mumbai Sahar. Endorsed by the United Nations, the prestigious awards platform recognises individuals and organisations fighting on the frontlines to restore the delicate balance of both human wellness and planetary health. “The Earth is what we all have in common. Recognising that our mental and physical health is connected to the health of the planet is the core focus of this platform. A ruined planet won’t sustain our lives in good health,” said Dr Rachna Chhachhi, MD, Kindness, at the awards ceremony.

Established in 2019 by the Kindness Practice Foundation, a registered non-profit organisation, The Restore Awards have redefined the paradigm of social recognition. Driven entirely by a merit-first ethos, the awards charge no registration fee, ensuring that grassroots changemakers are evaluated purely on impact rather than financial backing. The extreme selectivity of this edition was underscored by the numbers: out of more than 900+ global nominations, only 102 entries were shortlisted by an esteemed jury of senior doctors and corporate leaders, culminating in only 15 final winners.

The Critical Need for Human and Planet Health Recognition

In today’s degrading global climate, the separation between planetary degradation and human degradation has dissolved. Industrial expansion, climate instability, and high-pressure modern environments are simultaneously eroding ecosystems and fracturing human mental resilience. The Restore Awards act as a crucial ecosystem to elevate solutions that address these dual crises, proving that the healing of the human mind and body is intrinsically tied to the healing of the Earth.

A Holistic Corporate Vision: Avanse Financial Services and Partners

The 7th Edition was proudly presented by Avanse Financial Services, an education-focused Non-Banking Financial Company (NBFC) that enables students to achieve their academic aspirations. Avanse is pioneering a corporate shift by expanding the definition of youth development to encompass holistic human capital.

Recognizing that education financing effectively manages logistical aspects like tuition fees, accommodation, and visas, Avanse is directly confronting the unaddressed emotional and psychological challenges students face—such as culture shock, profound isolation, and academic burnout in new destinations. By partnering with the Kindness Practice Foundation, Avanse is building a comprehensive ecosystem that cultivates psychological resilience, instils the self-belief required for independent living, equips students to thrive under intense academic pressure, and fosters an enduring growth mindset.

Speaking at the ceremony, Amit Gainda, Managing Director & CEO, Avanse Financial Services, stated: “Our strategic partnership with the Kindness Practice Foundation redefines student support by expanding our mandate far beyond financial access. Together, we are building a comprehensive ecosystem that cultivates psychological resilience… At Avanse, we don’t merely finance degrees; we invest in human potential and empower tomorrow’s leaders with the holistic support they need to succeed today.”

This corporate solidarity was further bolstered by Earth Partner Racold, an organisation where environmental sustainability sits at the absolute core of its purpose, and Gifts Partner Britannia NutriChoice, promoting healthy lifestyle choices with their signature motto, “Make a Good Choice with Britannia NutriChoice!”

Shweta Kawatra Honored as ‘Kindness Ambassador’ for Women’s Mental Health

A major milestone of the evening was presenting the prestigious “Kindness Ambassador” honor to celebrated television actress Shweta Kawatra (Kahaani Ghar Ghar Kii, Kumkum – Ek Pyara Sa Bandhan, Baal Veer, C.I.D., Sawal E Ishq). A postpartum depression survivor, Kawatra has shown immense bravery by stepping into the limelight to advocate for deeply stigmatized issues, including women’s health, child safety, mental well-being, sexuality education, and lifestyle medicine. Having first supported the movement in 2023, her elevated commitment as Kindness Ambassador will see her leverage her vast public influence to normalize conversations around postpartum depression, menopause, and mental inclusion.

Inspired by her courageous advocacy, the foundation officially announced the launch of a dedicated Fellowship Program For Women’s Mental Health.

Launch of the National Childhood Cancer Nutrition Fellowship with Access Life

Expanding its clinical impact, the Kindness Practice Foundation used the global stage to launch strategic fellowship programs for other non-profits. Commemorating Childhood Cancer Awareness Month, the foundation announced a milestone Fellowship for Supportive Nutrition in partnership with the Access Life Assistance Foundation—a non-profit providing holistic shelter and care to children fighting cancer.

Clinical nutrition is a critical, yet often underfunded, component of pediatric oncology survival. Through this fellowship, the Kindness Practice Foundation will actively support and manage targeted medical nutrition programs across all 14 Access Life centres in India, ensuring that brave young children have the physical resilience required to fight life-threatening illnesses.

By uniting corporate heavyweights, iconic cultural figures, and medical non-profits, the 7th Edition of The Restore Awards has established a definitive blueprint for systemic healing proving that human potential and planetary survival can only be secured through radical empathy and collective action.

About Kindness Practice Foundation
Kindness Practice Foundation is a registered non-profit organisation dedicated to recognizing impactful community initiatives and driving global awareness around human wellness and planetary health. Through its clinical arm, the foundation drives specialized recovery, integrative nutrition for prevention and reduction in non-communicable diseases, and fellowship programs across the country.

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India’s economy continues to show resilience, with real GDP growth reaching 7.8% in the first quarter of FY27 and industrial production accelerating to 8% in August. However, the country’s stock market has faced significant pressure this year, creating a gap between economic performance and investor sentiment.

At first glance, the contrast may appear unusual. Strong economic growth is often associated with rising corporate activity and higher stock prices. However, economic growth and stock market performance measure different aspects of the economy.

GDP measures economic activity across the country, while stock prices reflect investors’ expectations about the future profitability of listed companies. Between economic growth and corporate earnings lie several factors that can influence market performance, including input costs, currency movements, interest rates and global financial conditions.

Economic Growth and Corporate Earnings

A growing economy does not automatically translate into higher profits for every listed company.

Businesses may benefit from stronger consumer demand, increased investment and expanding economic activity. However, rising operating costs can reduce the gains from higher sales.

Companies facing higher costs for raw materials, energy, transportation or financing may struggle to maintain profit margins if they cannot pass those increases on to consumers.

As a result, corporate earnings can weaken even when overall economic activity remains strong.

This distinction helps explain why investors may respond cautiously to positive GDP figures. Markets are influenced not only by the pace of economic growth but also by how that growth translates into future earnings.

Crude Oil and the Cost of Imports

Crude oil remains an important factor in India’s economic outlook because the country depends heavily on imported energy.

A sustained rise in global oil prices can increase India’s import bill, put pressure on the rupee and add to inflationary risks.

Higher energy costs can affect transportation, manufacturing and other business activities. Companies may face higher production expenses, while households may experience increased costs for fuel and other goods and services.

The distribution of these costs depends on the sector and the company’s ability to adjust prices. Businesses may absorb some of the increase through lower margins, while consumers or the government may bear part of the burden.

For investors, the concern is whether higher input costs could reduce corporate profitability and affect future earnings expectations.

Global Financial Conditions and Foreign Investment

Indian equities are also influenced by developments in international financial markets.

When US bond yields rise, investors may find government securities more attractive relative to riskier assets such as emerging-market equities.

This can influence the movement of foreign portfolio investments into and out of Indian markets.

Geopolitical uncertainty, currency fluctuations and changing expectations about global interest rates can add to these pressures.

A weaker rupee can increase the cost of imported inputs for Indian companies, although it may also benefit some exporters by improving the value of overseas earnings in domestic currency.

The overall effect depends on a company’s exposure to imports, exports, foreign-currency borrowing and international demand.

Why Strong Growth May Not Lift Stock Prices

Stock prices are shaped by expectations about the future rather than by current economic data alone.

If investors have already anticipated strong economic growth, the release of positive GDP figures may not be enough to push share prices higher.

Markets often respond to the difference between actual results and what investors had expected.

For example, a strong growth rate may still disappoint investors if they expected faster expansion, stronger corporate earnings or lower operating costs.

Valuations also matter. Even when a company reports healthy earnings, its share price may decline if investors believe those earnings do not justify the price at which the stock is trading.

This means that economic growth, corporate profitability and market valuations can move in different directions.

What Investors Are Watching

The divergence between economic growth and stock market performance highlights the importance of examining several indicators alongside GDP and industrial production.

Crude oil prices: Higher prices can increase import costs and put pressure on business margins.

Corporate earnings: Changes in earnings forecasts can provide insight into how companies are managing costs and demand.

The rupee: Currency movements affect import expenses, foreign-currency obligations and the value of overseas earnings.

Foreign investment flows: Portfolio movements can influence market liquidity and share prices.

Bond yields: Changes in domestic and international yields affect financing costs and the relative attractiveness of equities.

Market valuations: Share prices depend partly on how much investors are willing to pay for expected future earnings.

Together, these indicators provide a broader picture of the conditions influencing Indian equities.

The Broader Economic Picture

The apparent disconnect between India’s economy and its stock market does not necessarily indicate that one of them is misrepresenting economic conditions.

Strong GDP growth suggests that economic activity is expanding. Falling share prices may reflect concerns about corporate profitability, valuations or global financial conditions.

The two can coexist because the stock market represents expectations about listed companies rather than the entire economy.

For policymakers and businesses, the challenge is to sustain economic growth while managing inflation, energy costs and external financial pressures.

For investors, the focus extends beyond headline growth figures to the ability of companies to convert economic expansion into sustainable earnings.

Conclusion

India’s economic performance and stock market movements reflect different dimensions of the country’s financial and economic outlook.

The economy can continue to expand while listed companies face pressure from rising costs, currency movements and changing global conditions.

The central question is whether corporate earnings can keep pace with the costs, valuations and financial conditions investors are assessing.

Crude oil prices, earnings revisions, the rupee, foreign investment flows, bond yields and valuations therefore remain important indicators to monitor alongside GDP growth and industrial production.

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