Daily Update — July 16, 2026
India’s Carbon Market; Middle East Poultry Trade; and AI’s Uneven Impact on Indian IT Firms
Today is Thursday, July 16, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Expansion
India's carbon market: from design to implementation
India’s compliance carbon market, designed to impose operational-level responsibilities on emission-intensive industries, is entering an early implementation stage. The scheme is expected to affect industrial planning, capital allocation decisions and trade competitiveness by shaping expectations around the costs and pricing signals of carbon.
In this episode of the “Commodities Focus” podcast, JSW Group Chief Sustainability Officer Prabodha Acharya and S&P Global Energy senior carbon price reporter Anirudh Iyer joined host Vipul Garg to discuss how the market could reshape India’s approach to emissions management.
Global Trade
From Hormuz to Gulf ports: tracing a logistics shock through the poultry trade
The Middle East relies significantly on imported chicken, with local production far below demand. The gap is bridged by Brazilian frozen poultry that reaches Gulf ports through the Strait of Hormuz. While supply and demand have not changed, the Platts CIF Middle East chicken breast assessment rose 36% to $3,150/metric ton in mid-April from $2,320/mt in early February due to restricted transit through the strait.
In this episode of the “Commodities Focus” podcast, S&P Global Energy’s Arif Islam, price reporter covering shipping across Europe, the Middle East and Africa, and Magdalena Michalik, principal analyst for European proteins, joined host Karan Dadure to examine how the disruptions have affected the cost dynamics of freight and Brazilian poultry exports.
Artificial Intelligence
Credit FAQ: AI Impact On Indian IT Firms Will Be Uneven
AI will affect the credit analysis of India-based IT services firms unevenly. According to S&P Global Ratings, large companies such as Tata Consultancy Services, Infosys, HCL Technologies and Wipro are better positioned because of their scale, diversified customer bases, long-standing industry relationships and ability to offer competitive pricing. Their strong cash balances also give them more flexibility to invest in AI-related capabilities. Adoption will vary by sector, and these firms’ ability to sustain revenue growth will depend on how effectively they respond to changing customer needs across industries and verticals.
Over the next three years, revenue visibility could weaken as AI-native competitors emerge and AI adoption cycles shorten, S&P Global Ratings said. Meanwhile, weaker macro conditions have put pressure on IT spending and may continue to do so. Despite risks from automation, opportunities remain in analytics, IT consulting and digital transformation, where AI can increase demand for integration, data architecture and enterprise transformation.
In case you missed it
- The seasonally adjusted Global Manufacturing Purchasing Managers’ Index New Export Orders, sponsored by J.P. Morgan and compiled by S&P Global, fell to 49.4 in June from 49.6 in May, indicating weakening global goods trade flows.
- Asian feed millers are looking to use more corn instead of wheat in their formulations after tensions escalated in the Black Sea, raising freight and CFR destination rates.
- Shell reached a final investment decision on a small-scale LNG regasification terminal in the Bahamas, with Shell Bahamas Power acquiring a 40% interest in New Providence Gas.
Upcoming events
- Measuring What Matters | 2-Part Webinar Series | July 17 (Webinar)
- Oil Markets, Price Forecasting & Commercial Strategies | London | July 21–23 (London)
- After conflict, before talks: Supply chain outlook for Q3 2026 and beyond | July 21 (Webinar)
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