Dear Reader ,

The markets may not be in full bloom, but the festive glow is unmistakable as Diwali and Samvat 2082 approach. It’s time to wish good riddance to Samvat 2081, a year the Indian markets would dearly love to forget. It’s a year in which we faced the brunt of Trump’s tariffs, conflict with Pakistan, relentless selling by foreign investors, cutbacks to corporate earnings, a wobbly rupee, and a scare for our much-vaunted tech firms. But Diwali is a time for new beginnings and the worst seems to be behind us as we step into the new Samvat year.

Let us count our blessings. Retail inflation has fallen to an eight-year low , which, together with the GST cuts, should finally nudge the urban consumer to start spending. The monsoon has been good. Food prices are in deflation, and th

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