Across the world, charged geopolitics and widespread crackdowns on freedom of expression are deeply impacting the art world. This polarization is visible in the exclusion of certain works, such as the temporary closure of Tom Vattakuzhy’s exhibition at the Kochi-Muziris Biennale following protests, and the blocking of Gabrielle Goliath’s entry for the 2026 Venice Biennale. Historically, artists have always responded to conflict, with movements like Dadaism and Surrealism arising from the turmoil of World War I. In India, the trauma of Partition shaped the practices of artists like Satish Gujral and Haren Das, while the communal violence of the 1990s led others to adopt the role of "artist as witness".
Ultimately, the "auto-narrative" is not rooted in individualism. By centering their lived experiences, these artists are making space for collective healing, using their work to articulate the pain stored within and respond to rising inequality and geopolitical tensions.
Institutions are also prioritizing the study of technology's role in art. The Khoj International Artists’ Association is currently hosting Are You Human, an exhibition exploring how technology reorganizes human identity, gender, and caste. Featured interactive works include Gondwana, a durational virtual reality (VR) experience by Ben Andrews and Emma Roberts that transports visitors into an Australian rainforest to witness the impact of human intervention. As these artists push the boundaries of human-machine interaction, they continue to face deeper metaphysical questions about the nature of reality.
In the kitchen, black carrots can be used much like orange ones, though they turn a classic carrot cake into moody purple hues. Despite some social media claims that these are "GMO," they are actually heirloom varieties that predate the orange carrot by centuries. Orange carrots were only developed in the 17th century by Dutch farmers, likely through the selective breeding of yellow and white strains.
US deal buzz lifts D-Street as investors await details
By Abhinaba Saha & Mayur Bhalerao
Mumbai
Indian equities logged their strongest weekly performance in 38 weeks, emerging as the world’s top-performing major market following the announcement of a US–India trade deal, despite its finer details remaining unclear.
Headline-driven optimism lifted both the Nifty 50 and the Sensex by 3.5% over a week that featured a special Sunday trading session for the Union budget. As of the week's close, the Nifty 50 stood at 25,693.70 and the Sensex at 83,580.40. This performance represents the benchmarks’ best weekly showing since May 2025.
Turbulence and Triggers
The rally was marked by significant volatility, with the indices recording both their steepest single-day fall and biggest single-day jump in nine months within the same week.
- Budget Day (1 February): Benchmarks fell nearly 2% as investors felt the government’s proposals lacked growth-reviving "firepower". Sentiment was further dampened by a surprise hike in the securities transaction tax (STT) on derivatives trading.
- Trade Deal Breakthrough: Sentiment shifted dramatically after US President Donald Trump announced a breakthrough in trade negotiations, easing uncertainty. This news catapulted the index 2.5% on 3 February alone.
FPI Activity and Market Sentiment
Foreign portfolio investors (FPIs), who had sold nearly ₹36,000 crore worth of equities in January, turned into net buyers, injecting ₹9,442 crore in the first week of February. Meanwhile, the India VIX, Dalal Street’s "fear gauge," plunged 19% over the week, indicating a sharp drop in risk aversion.
Sectoral Performance: IT vs. The Broader Market
While India emerged as a top global performer, IT stocks were the week’s worst performers. The BSE IT index slid nearly 7% after the AI firm Anthropic unveiled new plugins for its Claude Cowork platform, stoking fears that automation might encroach on core services provided by Indian IT firms.
- Infosys Ltd fell 9.2%.
- Tata Consultancy Services fell 8%.
In contrast, the broader market staged a broad-based rally led by utilities and power stocks (up 10%) and real estate (up nearly 8%). Analysts noted that power companies are expected to benefit from surging demand and Budget-related tax holidays for data centre investments.
Outlook
Experts expect markets to consolidate around current levels in the coming week, though caution remains due to elevated geopolitical uncertainty and persistent concerns regarding valuations and earnings weakness. Analysts suggest that the investor mood now hinges on the "fine print" of the bilateral trade pact.
FEARLESS, NOT RECKLESS
Defending champions India seek right balance between aggressive intent and tactical maturity as they open campaign against the USA today
By Anand Vasu
There was still time for a few jokes. Especially when it was put to Suryakumar Yadav that his team’s opening game against the USA was a battle between the Green Card and the Aadhaar Card, given how many Indian-origin players are in the opposition. Surya has played with several of them in Mumbai himself.
But when the action begins, every ball will be a serious matter, even if Surya doesn’t stop smiling at any stage. “When you’re playing at home, there is always added pressure,” Surya conceded. “I’m not running away from the fact. There will be nerves. But there will be a lot of cheer around. You’re playing at home, there are people backing you... I’ve told my boys the same thing: Let’s give them a good time. Let’s give them entertainment.”
The brand of cricket India have played in T20Is over the last many months, there will be no shortage of entertainment. Given that India play USA, Namibia, the Netherlands, and potentially Pakistan in the first round, there was the suggestion that they had it easy. “I don’t see any weak teams in the competition. It’s a format where one or two batters or bowlers can make a difference,” said Surya.
The real challenge, though, will not be the opposition. It will be up to India to stay true to their brand of fearless cricket in the World Cup. In the past, India have been guilty of pushing the boundaries in bilateral series, when there is less at stake, only to revert to a more conservative approach in global tournaments. The weight of expectations is something only the players will fully understand. “No one has defended the title. No one has won on home soil,” said Surya. “But you have to be in the present... You have to stay grounded, because when you’re playing at home, you want to give people more than they expect, and that, at times, might force a mistake.”
The fact of the matter is that India’s legion of fans expect their team to win every time it takes the field. This means that even if early results go their way, the pressure will build rather than ease. “There is already enough pressure from outside,” Surya said, only half in jest. “When we are on the field, we just want to be relaxed... Auto-pilot switches on when you come to the ground.”
The first call had to be taken even before a ball was bowled, with Harshit Rana being ruled out by a knee injury. India fancy Rana’s lower-order hitting on top of his bowling, and Mohammad Siraj, the replacement, does not wield the willow with as much assurance. “It’s a big blow obviously because you make a squad of 15 players with a lot of combinations in mind,” explained Surya. “If he is not available... then we will set other combinations. We have enough players, enough combinations.”
There was a time when upcoming teams fought through rigorous competition to make it to a World Cup and then found themselves well out of their depth. But the 20-over game has narrowed that gap. The expansion of the T20 World Cup to 20 teams has also meant more players are getting chances to make a name for themselves on the global stage.
India will take nothing for granted, in the full knowledge that complacency could be disastrous. They will have to walk a tightrope—knowing exactly what’s at stake, but not looking down to see the kind of damage that wobble can set off—and Surya’s method is to keep smiling. Keeping anxiety at bay will be crucial in a month-long campaign.
Cries in the Urban Wilderness
Silk Stalkings
By Reshmi Dasgupta
Some months ago, I became painfully aware of the deteriorating mental health of a childhood friend. Divorced, estranged from her close family, and unemployed after Covid, she was in crisis. Yet I soon realised there was nothing that I, as just a friend, could do. As per Indian laws, only the person or immediate family can directly intervene to help those with mental health problems. So, all I could do was provide her family with relevant contacts and hope they did the needful.
This week, India was aghast at the suicide of three teenage sisters in the National Capital Region, who had been drawn into the dangerous world of online games. The three, the oldest of whom was only 16, had immersed themselves in what the media has described as “Korean culture” and stopped going to school and even interacting with their parents. Oddly, that seemed to raise no red flags in either their wider family or among the neighbours in the condominium they lived in.
But why should three young sisters become so totally immersed in a fantasy-scape when there was a real world for them to interact with? It indicates a profound disconnect with their surroundings even in the midst of a crowded residential complex. That is not normal by any standard and merited serious action by parents or even concerned neighbours. But neither set of grownups did anything to address the issue.
When the sisters dropped out of school, why did no teacher, counsellor, or administrator raise queries, fearing abuse, trafficking, or child marriage if not any mental health problems? Did these girls have no classmates alarmed by their withdrawal from the world? Have notions of “privacy” and individual “space” reached western proportions even in India? Or like me, did everyone desist because authorities would not listen as they had no legal locus to intervene?
In various notes and messages the girls left behind, the word ‘loneliness’ stands out. Feelings of isolation and abandonment are closely linked to it. These three words are at the heart of even my childhood friend’s crisis. Sadly, the government has no safety net for mentally stressed people with no personal support systems, irrespective of the strata of society they come from. There is no mechanism for suo motu intervention. Middle-class Indians appear to be the most vulnerable.
With eerie prescience, the Economic Survey presented just the week before these suicides identified mental health as a major concern, highlighting social media addiction among Indians aged 15-24. It said anxiety, depression, low self-esteem, and stress linked to cyberbullying are rising, and digital addiction among adolescents is impacting academic performance, social interactions, and sleep. Being mentioned in the Survey indicates just how widespread the problem is.
Finance Minister Nirmala Sitharaman announced that North India will finally get a National Institute for Mental Health and Neurological Sciences (NIMHANS) like the one in Bengaluru, and that Ranchi and Tezpur will be upgraded to regional apex institutions. While this will be a boon for treatment and research, what about prevention and pre-emption? For that, the basic intervention protocol needs to change. And there has to be a safety net for those who have no one to turn to.
Simon & Garfunkel’s Sound of Silence poignantly encapsulated the emotional and social isolation of America over 60 years ago. The opening line, “Hello darkness, my old friend,” reflects the mindset of far too many Indians today. “Fools, said I, you do not know / Silence like a cancer grows / Hear my words that I might teach you / Take my arms that I might reach you…” it goes. I can hear my friend’s silent cry in those lines; she and I sang that so often as schoolgirls.
RBI Holds Rate at 5.25%, Retains Neutral Stance
By Our Bureau
Mumbai
The Reserve Bank of India (RBI) on Friday kept interest rates and its monetary policy stance unchanged, as expected by the majority of economists. The Monetary Policy Committee (MPC) voted unanimously to maintain the benchmark repo rate at 5.25% and retained its ‘neutral’ stance, citing a combination of strong economic growth and benign inflation.
Economic Growth and the ‘Goldilocks’ Spot
Governor Sanjay Malhotra stated that the Indian economy remains in a period of robust growth, describing the current environment as a "Goldilocks" spot. On the back of strong domestic demand and recent trade deals, the central bank raised its GDP growth projection for fiscal year 2026 (FY26) to 7.4%, up from the previous estimate of 7.3%. Malhotra noted that recent bilateral and multilateral trade agreements, including those with the European Union and Oman, are expected to further boost investment and sustain growth momentum.
Inflation Outlook
While the RBI marginally raised its inflation projection for FY26 to 2.1% (from 2.0% earlier), retail inflation remains well within the bank's tolerance band. December’s retail inflation stood at 1.33%, and the governor indicated that underlying inflation, excluding the impact of rising precious metal prices, continues to be low. The MPC remains committed to a long-term inflation target of 4%.
New Consumer Protection Measures
A significant portion of the policy announcement focused on safeguarding bank customers from the rising threat of digital fraud.
- Fraud Compensation: The RBI proposed a framework to compensate victims of small-value digital frauds for 85% of their loss, capped at ₹25,000.
- OTP Compromise: This compensation will be available even in cases where a one-time password (OTP) was compromised.
- One-Time Relief: The governor clarified that this is a one-time "forgiveness" measure intended to educate customers; those who make the same mistake twice will not be eligible for further compensation.
- Mis-selling and Recovery: New draft guidelines will be issued to curb the mis-selling of financial products and to regulate the conduct of loan recovery agents.
Market and Sectoral Impact
The RBI unlocked a fresh source of funding for the property sector by allowing commercial banks to lend directly to Real Estate Investment Trusts (REITs) for the first time. This move provides REITs with a cheaper alternative to expensive bond markets.
In other regulatory moves, the RBI proposed exempting small NBFCs with asset sizes below ₹1,000 crore from registration requirements if they do not access public funds. Additionally, the ₹2.5 lakh crore limit for FPI investments under the Voluntary Retention Route (VRR) was removed to provide more operational flexibility to foreign investors.
Following the announcement, benchmark 10-year government bond yields rose to 6.73%, as markets reacted to the absence of fresh liquidity measures.
Iranians Have Their Own Mind
Zan, zendegi, azadi
By Maryam Aslany
Oxford: Iran recently underwent one of the most intensive episodes of state murder in history, with reports suggesting over 33,000 people were killed within 48 hours. As the internet is partially restored, videos are emerging of a reality described as "genocide under digital darkness". At least 42,000 people were arrested during the protests, and many now await execution.
Despite this vast state violence, the situation has received limited international media coverage. One reason for this perceived abandonment appears to be the defiant rallying cry used by many Iranians: "Javid shah!" (Long live the king!). Many in the West seem more offended by this phrase than by the atrocities committed by the regime.
Reza Pahlavi, the exiled crown prince, has increasingly become the accepted figurehead of the Iranian freedom struggle. Iranians find themselves frequently asked to justify their political decisions to Western interrogators who question Pahlavi’s legitimacy or baselessly claim he intends to build a new dictatorship. At the recent Jaipur Literature Festival, Western journalists were noted for contemptuously "psychoanalysing" the Iranian mindset, reflecting a suspicion that their political desires stem from intellectual deficiency rather than a genuine pursuit of secular government and democracy.
Iranians believe Pahlavi can provide a stable transition, and the prince intends to hold a referendum to decide the future form of government. On the ground, voices suggest such a referendum would likely result in a constitutional monarchy, which is Iran’s oldest institution. This tradition is not opposed to democracy; the Constitutional Revolution of 1906 previously split power between a monarch and an elected parliament.
The progress made toward democracy was interrupted in 1979 when the new regime decided political authority could only come from God. The current uprising seeks to correct this disastrous turn. Ironically, many of the furious diatribes against Iran’s political hopes come from Britain, a country whose own constitutional monarchy has symbolised democracy for three centuries. Other highly responsible international members—such as the Netherlands, Belgium, Norway, Denmark, and Sweden—are also constitutional monarchies.
Westerners appear to believe that the privileges of constitutional monarchies are for them alone. Western media seems unable to grasp the implications of their own professed values of self-determination, which hold that it is up to each population to choose its own form of government. The role of the international community is not to "psychoanalyse" these choices, but to accept the choices of an oppressed population and support their struggle.
Panel to Align Tax Computation with Accounting Standards
By Anuradha Shukla & Banikinkar Pattanayak
New Delhi
The corporate affairs ministry and Central Board of Direct Taxes (CBDT) will jointly set up a panel by March-end to pursue aligning tax computation rules with accounting standards and lessen India Inc’s compliance burden. The move, proposed by Finance and Corporate Affairs Minister Nirmala Sitharaman in the budget last week, is also aimed at reducing litigation caused by any perceived divergence between the accounting and tax frameworks.
Panel Composition and Budget Proposal
Apart from senior officials from the corporate affairs ministry and CBDT, the panel will also comprise industry representatives and members of the Institute of Chartered Accountants of India (ICAI). Sitharaman had proposed incorporating requirements of Income Computation and Disclosure Standards (ICDS) into the Indian Accounting Standards (Ind AS) itself. “Separate accounting requirements based on ICDS will be done away with from the tax year 2027-28,” she said in her budget speech.
The Burden of Parallel Systems
Currently, companies effectively maintain two sets of numbers: one for statutory reporting under the Companies Act and Ind AS, and another for determining taxable income under the Income-tax Act using ICDS. This parallel system has led to extensive year-end reconciliations, higher compliance and advisory costs, and frequent disputes with tax authorities. ICAI President Charanjot Singh Nanda told ET that the formation of the panel is “aimed at aligning financial reporting and tax computation frameworks more closely”.
ICDS vs. Ind AS
ICDS are a set of 10 tax-specific standards issued by the government to govern how income is computed for tax purposes. Ind AS are financial reporting standards applied in the preparation and presentation of general-purpose financial statements. Tax experts noted that a major share of direct tax disputes stem from interpretational gaps between these two standards in areas such as revenue recognition, provisions, foreign exchange treatment, and long-term contracts.
Origins and Outlook
The decision to form the panel emerged during consultations of Parliament’s joint committee on income-tax following repeated stakeholder representations on simplifying book-tax differences. Kinjal Bhutta, treasurer at the Bombay Chartered Accountants Society (BCAS), stated that a "simplified and well-executed unified system can materially reduce the time, effort and cost of compliance". If successful, this convergence could reduce duplication of effort, improve certainty for taxpayers, and streamline administration for the tax department.
Standard Chartered Sells Office Property in BKC for ₹197 crore
By Kailash Babar
Mumbai
Standard Chartered Bank has sold one of its office properties in the Parinee Crescenzo commercial tower at Mumbai’s Bandra Kurla Complex (BKC) to Advanced Realty for ₹197 crore.
The Deal Details
The property involved in the transaction includes:
- Chargeable Area: 28,516 sq ft.
- Carpet Area: 27,003 sq ft.
- Parking: 27 car parking slots.
- Rate: The deal was finalized at approximately ₹69,084 per sq ft on the chargeable area.
The transaction was registered on February 2, according to documents accessed through the realty data analytics platform Propstack.
Operational Continuity
The Parinee Crescenzo tower currently houses a diverse mix of multinationals, banks, financial services firms, and professional services companies. While Standard Chartered has sold this specific property, it retains other office space within the same tower and will continue to operate from that location. The bank declined to comment on the sale.
Market Context: Shift to Asset-Light Strategies
Industry experts note that this sale reflects a broader trend of portfolio rebalancing by major corporations and financial institutions. Many occupiers are moving toward asset-light strategies, choosing to monetize owned real estate to unlock capital while preferring long-term leases over direct ownership.
BKC remains one of Mumbai’s most resilient and sought-after office markets due to its central location and concentration of high-profile financial, legal, and technology firms. Despite varied momentum across Indian cities, BKC continues to attract strong interest from both investors and end-users due to scarce new supply and sustained demand.
