The Core Report #823 Markets Set For Another Tough Week
Mar 15, 2026
Shankkar Aiyar, economic journalist and author, explains how West Asia shocks ripple into India. He discusses the butterfly effect on global supply chains and why energy resilience matters. He also talks about market moves, oil price impacts and trade shifts. The conversation touches on alternatives to LPG and broader policy lessons.
AI Snips
Chapters
Transcript
Episode notes
India's LPG Dependence Creates Strategic Vulnerability
- India consumes ~31 million tonnes of LPG but produces only 13 million, importing ~18 million tonnes largely via the Strait of Hormuz.
- PMUY doubled domestic LPG users to ~330 million, concentrating demand and raising vulnerability to supply shocks.
Promote Piped Gas And Solar Cooking Now
- Policymakers must diversify cooking fuel infrastructure rather than rely solely on cylinders; push piped gas where feasible and expand alternatives.
- Promote long-term substitutes like rooftop solar cookers and rural PNG to reduce import exposure.
Gulf War Is An Asymmetric Economic Shock
- The Wall Street Journal described the Gulf war as an asymmetric conflict where Iran uses guerrilla tactics to choke oil shipments, creating outsized global economic effects.
- Markets reacted weakly; India scrambled for alternate fuel sources while oil hovered around $90/barrel.