India (5th largest economy, fastest-growing major economy at ~7% GDP growth) is increasingly influential in global markets. Key indicators: (1) RBI (Reserve Bank of India) rate decisions — India's policy rate affects $80B+ in foreign portfolio investment. Rate cuts attract FII inflows → Sensex/Nifty rally, INR strengthens. (2) GDP growth rate — India consistently grows among the fastest of G20 economies. Growth acceleration draws global capital away from China, benefiting Indian equities and INR. (3) CPI inflation — RBI targets 4% ±2%. Persistent above-6% readings force hawkish policy, pressuring domestic equities. (4) Trade deficit and crude oil prices — India imports ~85% of its oil. Every $10/barrel oil price increase widens the current account deficit by ~$15B annually, weakening INR. Rising oil = negative for Indian markets. (5) GST collection data (monthly) — a real-time economic activity proxy. Record collections signal strong consumption. (6) Foreign Institutional Investor (FII) flows — net selling >$3B/month typically correlates with 5-10% Nifty corrections.