Liquidity Management, Monetary Transmission and Banking Stability: A Comparative Analysis of India, China, and Japan (FY2018–FY2026) Abstract This study examines the effectiveness of liquidity management and monetary policy transmission in India during FY2025–26 and compares it with China and Japan. The paper evaluates the impact of durable liquidity injections, surplus system liquidity, and policy corridor alignment on lending rates, banking stability, and credit growth. Using panel data analysis (2018–2026), correlation analysis, Vector Autoregression (VAR), and Difference-in-Means testing, the study finds that India’s surplus liquidity regime significantly improved monetary transmission and banking sector asset quality. Compared with China’s state-directed credit model and Japan’s prolonged ultra-loose monetary policy, India exhibits stronger transmission efficiency under a corridor-based framework. The study contributes to emerging market monetary economics by highlighting ...
**India’s External Sector in an Era of Geostrategic Globalization: Trade Resilience, Structural Transformation and Balance of Payments Stability**
**India’s External Sector in an Era of Geostrategic Globalization: Trade Resilience, Structural Transformation and Balance of Payments Stability** Abstract The global economy is undergoing a structural transformation marked by rising trade policy uncertainty, geopolitical realignments, strategic decoupling, and a shift from hyper-globalisation to geostrategic globalisation. Against this backdrop, this paper examines India’s external sector performance in FY25–H1 FY26, analysing trade trends, balance of payments dynamics, capital flows, foreign exchange reserves, and external debt sustainability. Using a combination of descriptive statistics, trend analysis, correlation models, unit root tests, and regression-based hypothesis testing, the study evaluates whether India’s external sector exhibits structural resilience amid global fragmentation. The findings suggest that (i) services exports significantly offset merchandise trade deficits, (ii) diversification of expor...