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www.newsindiatimes.com – that’s all you need to know India Economy Resilient But Faces Rising Risks From Mideast War, Government Report Says I ndia’s economy remains resilient but faces mounting risks from the Middle East conflict, which has dis- rupted supplies of energy, fertilisers and industrial raw materials, raised costs and weakened trade, the govern- ment’s monthly economic report said on Wednesday. “India enters FY2026-27 at the intersec- tion of domestic resilience and external turbulence,” the report said, adding that theWest Asia war has altered the mac- roeconomic outlook following real GDP growth of 7.6% in the previous fiscal year. The government said India remained a relative bright spot, with the International Monetary Fund raising its 2026-27 growth forecast for the country to 6.5% from 6.4%. However, it warned that risks were tilted toward higher inflation, wider fiscal and external deficits and slower growth, especially if energy and fertiliser supply disruptions persist. The report said India’s crude oil basket averaged $113 per barrel in March and was just under $115 per barrel this month through April 24. It added higher whole- sale prices showed that cost pressures were building, even though consumer inflation remained moderate. Retail inflation rose to 3.4% in March from 3.2% in February, while food infla- tion increased to 3.87%. Wholesale infla- tion accelerated to 3.88% in March from 2.13% in February, reflecting rapid trans- mission of higher energy and commodity prices at the producer level. “The risks are tilted toward persistence rather than quick reversal of the price pressures,” the report said. Trade also weakened in March, with merchandise exports down 7.4% year-on- year and 24 of 30 major export categories declining. Exports to the United Arab Emirates and Saudi Arabia fell sharply as the Strait of Hormuz blockade raised freight, insurance and logistics costs. The report said remittances, which reached a record $135.4 billion in FY25, could come under pressure if a prolonged conflict weakens Gulf labour markets. India’s unemployment rate rose to 5.1% in March from 4.9% in February, though the report said labour conditions have broadly stabilised, while confidence in future job prospects has weakened, par- ticularly in urban India. - Reuters By Sarita Chaganti Singh and Manoj Kumar A man sorts vegetables at a wholesale fruit and vegetable market in the old quarters of Delhi, India, February 1, 2026. PHOTO:REUTERS/ANUSHREE FADNAVIS/FILE PHOTO Kolhapuri Chappals Win ‘Made In India’ Branding After Controversy With Prada P rada is launching a limited-edition range of Indian-made sandals inspired by traditional Kolhapuri footwear, less than a year after the Italian luxury group faced a backlash for showcasing similar designs without cred- iting their origins. Prada is launching a limited-edition range of Indian-made sandals inspired by traditional Kolhapuri footwear, less than a year after the Italian luxury group faced a backlash for showcasing similar designs without crediting their origins. Each pair will be priced at about 750 euros ($881), according to Prada’s website. The launch follows controversy in June 2025, when Prada showed sandals re- sembling centuries-old Indian Kolhapuri chappals at a Milan fashion show. The designs sparked outrage among Indian artisans and politicians, who accused the brand of cultural appropriation. Prada later acknowledged the influence of ancient Indian styles and said it had begun talks with artisan groups about a collaboration. In December, Prada announced plans to produce 2,000 pairs of the sandals in the Indian states of Maharashtra and Karnataka under agreements with two state-backed bodies, combining local craftsmanship with Italian technology. The sandals will be sold through 40 selected Prada stores worldwide and on- line, the company said in a statement on Monday, April 27. The Facebook site of Prada carrying the announcement about its collaboration with Indian artisans for production of the seminal Kolhapuri chappal. Prada also announced a three-year training program for artisans from the eight districts in India traditionally associ- ated with Kolhapuri sandal-making. The program will be delivered by two leading Indian design institutes in structured six- month modules and is expected to reach 180 artisans, starting next month. “It is time that Indian traditional crafts take their rightful place on the world stage,” said Tanu Kashyap, director gen- eral at the National Institute of Fashion Technology, which will offer the training program. Artisans will also be given the opportu- nity to visit the Prada Group Academy in Italy to gain additional technical expertise. - Reuters The Prada logo will be on the newly designed ancient Kolhapuri chappal. PHOTOS:FACEBOOK @PRADA Customers shop for ‘Kolhapuri’ sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. PHOTO:REUTERS/ADNAN ABIDI/FILE PHOTO News India Times (May 2, 2026 - May 8, 2026) May 8, 2026 10 India