The week in charts: Stranded ships, GDP overhaul, GST mop-up, India EV push

From stranded shipping vessels near Strait of Hormuz amid the West Asia conflict, to the change in sectoral share due to revision in GDP base year, manufacturing and services activity moving in different directions in February, collections in goods and services tax (GST) signalling a post-cut recovery, and the government’s renewed push to faster adoption of electric vehicles, here’s a compilation of this week’s news in numbers.The US-Israel-Iran conflict is threatening to put the global order in chaos, particularly for the flow of gas and oil. At its core is the Strait of Hormuz—a narrow chokepoint through which over a quarter of global oil trade passes—where Iran holds strategic control.According to Kpler's analysis of 223 container vessels between 28 February and 4 March, at least 37 were unable to exit the Gulf, meaning they cannot resume rotations until transit reopens.

Some containers were headed for India, most notably, MSC Panaya to Vizhinjam, and Tema Express and One Majesty to Mundra. India is particularly at risk as over a third of its crude imports pass through the strait.

India currently has crude stocks sufficient for about 25 days, plus petrol and diesel for another 25 days, Mint reported.After India revamped its gross domestic product (GDP) calculations last week after a gap of over a decade, the decline in the size of the economy reflected a correction in past overestimates.The recalibration, which included reducing statistical discrepancies and using more robust datasets, also changed the sectoral make-up of GDP. Most notably, agriculture’s share in nominal gross value added (GVA) increased under the 2022-23 series compared to 2011-12, while services’ share declined.Agriculture sector's share has gone up