India vs Vietnam, Oil Prices & Startup Shutdowns: Weekly Economic Numbers

Economic data and global developments often reveal deeper trends shaping markets and policy decisions. This weekly compilation presents key numbers behind major news stories, offering insights into oil prices, startup closures, global arms imports, logistics activity, and the economic competition between India and Vietnam.

We provide you with data-driven insights and easily readable charts in this weekly Plain Facts compilation to help you learn more about the news that Mint covered throughout the previous week.

Weekly Economic Trends And Key Numbers

Here’s this week’s news in numbers, including rising startup shutdowns in specialized industries, India’s ongoing reliance on imported weapons, the tightening economic race between Vietnam and India, a spike in crude oil prices amid the conflict in West Asia, and logistics activity reflected in e-way bill generation.

Fears of shipping interruptions via the Strait of Hormuz, which transports around 20% of the world’s oil supply, caused crude oil prices to momentarily surpass $100 per barrel as a result of the West Asia conflict. According to a howindialives.com research, global markets also fell as investors feared the issue would lead to one of the largest oil shocks since 1990.

Crude Oil Prices Jump Amid West Asia Conflict

Oil prices have increased by almost 34% in the first 12 days of the conflict, which is the biggest increase among significant oil-shock incidents. Since then, prices have decreased to about $98 per barrel. Oil prices are rebased up to ninety days prior to and following each shock, with an index of 100 on the event start date.

On Mint’s Emerging Markets Tracker, Vietnam and India are in a tight fight. India’s ranks have suffered since December due to instability in the currency and stock markets, despite the country’s robust GDP growth, manufacturing prowess, and steady inflation.

Vietnam And India Compete In Emerging Market Rankings

Due to its quick economic development, robust exports, and growing stock market capitalization, Vietnam, a recent addition to the tracker, has risen to the top of the rankings in three of the last four months. However, India has maintained a slim advantage over the last 12 months, placing first six times as opposed to Vietnam’s five.

In a response to the Lok Sabha, the finance ministry stated that the government spent ₹88.7 crore on advertising the GST Bachat Utsav, which attempted to publicize the GST rate reduction that went into effect on September 22, 2025. $692 million: Under Alphabet’s new compensation plan, Google CEO Sundar Pichai may receive $93.4 billion over the next three years, making him one of the highest-paid business executives in the world. Due to lower revenues, US tariffs, and other economic challenges, Saudi Aramco’s net profit for 2025 was 12% lower than $106.2 billion in 2024.

Government Programs And Social Welfare Updates

9 million: Women were eliminated from the Majhi Ladki Bahin Yojana in Maharashtra, bringing the total number of beneficiaries down to 15.3 million. In the Beed district alone, 283,000 names were removed.

₹8.69 trillion: The amount authorized for Jal Jeevan Mission 2.0, which would restructure the rural drinking water program to prioritize sectoral reforms and extend it until December 2028.

Supply Chain Activity Reflected In E-Way Bills

According to data from the Goods and Services Tax Network (GSTN), the number of e-way bills generated in February increased 18.8% year over year to over 132 million from 111.6 million in the previous year. The rise is a sign of robust supply-chain and logistics activity since it shows consistent flow of items between manufacturers, warehouses, and retail networks.

However, e-way bill generation decreased 3.1% sequentially, the second consecutive monthly decrease following a 1.1% reduction in January. Because February is a shorter month and usually follows increased January activity, the moderation is mostly seasonal.

According to a Mint report, activity is anticipated to increase in March as companies expedite transactions ahead of the fiscal year-end, thereby encouraging higher GST collections.

Startup Shutdowns Rise In Niche Sectors

According to commerce ministry data presented to the Lok Sabha on January 31, 2026, up to 6,789 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) had closed down across industries. The shutdown ratios vary by industry, with certain growing and specialty areas experiencing comparatively greater shutdown rates.

The largest closure proportion was 8.1% for non-renewable energy companies, followed by social networking sites at 7.8% and dating and marriage-related businesses at 6.3%.

Computer vision startups saw 6.2% of ventures close, followed by augmented reality (AR)/virtual reality (VR) startups at 6.1% and Internet of Things businesses at almost 6%, indicating increased churn in consumer-internet and experimental categories.

India Remains A Major Global Arms Importer

The Stockholm International Peace Research Institute (SIPRI) reports that between 2021 and 2025, India accounted for roughly 8.2% of global arms imports, making it the second-largest importer after Ukraine.

According to the research, security tensions with China and Pakistan, particularly the conflict with Pakistan in May of last year, are a major factor driving India’s weaponry procurement. After Saudi Arabia and Qatar, Pakistan was one of the leading importers with a 4.2% stake.

Despite ongoing delays, India’s arms imports decreased by 4% between 2016 and 2020, in part due to rising domestic defense production.

According to the research, new orders—up to 140 combat aircraft from France and six submarines from Germany—show a shift away from traditional suppliers like Russia and toward Western allies, indicating a persistent reliance on foreign providers.

Frequently Asked Questions

1. Why did crude oil prices spike this week?

Fears of supply disruptions across the Strait of Hormuz led to a spike in crude oil prices as a result of tensions and violence in West Asia. Because this route accounts for around 20% of the world’s oil supply, markets reacted sharply, initially raising oil prices above $100 per barrel before lowering them to about $98.

2. In the Emerging Markets Tracker, how is India doing?

India remains a strong performer due to high GDP growth, strong manufacturing, and stable inflation. However, Vietnam is now in close competition with India in the developing markets rankings due to currency weakness and stock market volatility.

3. What does the increase in the generating of e-way bills suggest?

In February, e-way bill generation—which is mandated by the Goods and Services Tax (GST) for the transportation of goods—rose 18.8% year over year to more than 132 million. This implies robust logistics activity and consistent transportation of goods between Indian manufacturing, warehouses, and retail networks.

4. Why are so many Indian companies closing their doors?

The Department for Promotion of Industry and Internal Trade has closed about 6,789 startups. Due to market unpredictability and experimentation risks, niche industries like social networking, non-renewable energy, and emerging technologies like computer vision and AR/VR have seen higher closure rates.

5. Why does India continue to import a lot of weapons?

According to the Stockholm International Peace Research Institute, India continues to be the world’s second-largest arms importer despite rising domestic defense manufacturing. Defense acquisitions from overseas vendors are nevertheless fueled by ongoing security tensions with China and Pakistan.

Conclusion

This week’s economic data reveals a number of significant trends, including the impact of geopolitical tensions on oil prices worldwide, the fierce economic rivalry between Vietnam and India, the robust logistics activity demonstrated by rising e-way bills, the increasing turnover in India’s startup ecosystem, and the ongoing reliance on imported defense equipment.

When taken as a whole, these metrics offer an overview of the business, geopolitical, and economic factors influencing India’s and the world’s economies now.

Disclaimer: This article summarizes publicly available economic data and reports for informational purposes only. Figures and statistics are based on official statements, research reports, and market analysis.