India’s Business Pulse: Oil Diplomacy, Inflation Resets, and Corporate Accountability

• Editor
• February 16, 2026
• Business, Business Trends, Companies & Industry, economic
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New Delhi, February 16, 2026 — As India navigates a complex global economic landscape, recent developments ranging from a significant shift in energy sourcing to a complete overhaul of how the nation measures its cost of living are redefining the country’s business narrative.

1. Energy Breakthrough: Reliance Secures US License for Venezuelan Oil

In a major strategic win for India’s energy security, Reliance Industries Limited (RIL) has been granted a general license by the United States to resume direct imports of crude oil from Venezuela.

Why This Matters:

• Bypassing Sanctions: The license allows RIL to purchase oil without breaching existing US sanctions, which had previously forced the company to stop direct imports in early 2025.
• Refining Edge: Reliance operates the world’s largest and most complex refining system in Jamnagar. Venezuelan heavy crude is perfectly suited for this facility and typically comes at a significant discount, which will materially boost refining margins.
• Replacing Russian Crude: Analysts suggest this move allows India to diversify its heavy feedstock, potentially reducing reliance on Russian oil as geopolitical and pricing dynamics shift under the current US administration.

2. The New Normal: India’s Inflation “Cools” to 2.75%

India has officially transitioned to a new economic era with the release of the first retail inflation data under the Consumer Price Index (CPI) 2024 series. In January 2026, retail inflation stood at 2.75%, well within the RBI’s “comfort zone” of 4%.

Behind the Numbers:

• Base Year Reset: The base year has been shifted from 2012 to 2024 to reflect modern consumption habits—meaning the index now tracks things like OTT subscriptions, pen drives, and babysitters while removing obsolete items like VCRs.
• Food Weightage: The weight of food in the index has dropped from 45.86% to 36.75%, which is expected to reduce the volatility of inflation signals caused by seasonal crop fluctuations.
• Jewelry Spike: While overall inflation is low, silver and gold jewelry saw a massive surge of 159% and 46% respectively, though these are balanced by falling prices in vegetables like onions and potatoes.

3. Consumer Victory: Intel Fined ₹27.3 Crore by CCI

The Competition Commission of India (CCI) has imposed a penalty of ₹27.38 crore on Intel Corporation for what it termed an “unfair and discriminatory” warranty policy that harmed Indian consumers for eight years.

The Violation:

• Warranty Restrictions: From 2016 to 2024, Intel refused to honor warranties for microprocessors in India unless they were bought from “authorized Indian distributors.”
• Parallel Imports: This policy effectively killed competition from parallel importers who could bring in genuine Intel chips at lower prices from other global markets.
• The Ruling: The CCI noted that Intel provides global warranties in countries like China and Australia, making its India-specific policy discriminatory. Intel has been ordered to publicize the withdrawal of this policy widely.

4. Fast Food Surge: Subway Hits 1,000-Store Milestone

Subway India has reached a historic landmark with the opening of its 1,000th store in Gurugram, signaling its intent to dominate the organized Quick Service Restaurant (QSR) market.

Growth Strategy:

• Rapid Expansion: Operated by EverBrands (Everstone Group), Subway has been opening an average of two new restaurants every week for the last three years.
• Targeting “Bharat”: The brand has expanded into 165+ cities, moving beyond metros into Tier-2 and Tier-3 markets where disposable income is rising.
• The Playbook: Unlike competitors focused on malls, Subway is prioritizing street-facing neighborhood stores and transit hubs like airports to integrate into everyday eating habits.

Bottom Line

From the refineries of Jamnagar to the sandwich shops of Gurugram, India’s corporate landscape is in a state of hyper-acceleration. Whether it’s securing discounted global oil, refining how it measures the cost of living, or holding tech giants accountable, the focus is clear: building a resilient, modern, and consumer-centric economy.