For India Inc., the business outlook for the near term remains mixed. The early months of the previous fiscal year (FY26) were clouded by tariff-related uncertainty, while the last quarter of FY26 was marked by the US-Iran conflict, which raised fears of a commodity price surge and softer demand. As FY27 begins, tariff concerns have eased somewhat, helped by a series of parallel trade agreements, while the long-awaited India-US deal remains perpetually at the finish line. Meanwhile, the ceasefire between the US and Iran, though still recent, has already led to a sharp decline in oil prices. While this is...