This issue of State of Economy brings together a set of published commentaries and analyses on India’s contemporary economic challenges. The collection examines the tension between headline growth and deeper structural weaknesses in employment, welfare delivery, fiscal policy, household vulnerability, inequality, and middle-class insecurity. It also situates India’s domestic economic concerns within a changing global environment, especially the impact of geopolitical tensions, energy dependence, dollar-centred financial systems, and disruptions in critical trade routes. Across these essays, the central argument is that economic stability alone cannot secure inclusive development. India’s growth model must be assessed through jobs, wages, public investment, welfare access, state capacity, and resilience to external shocks. The issue therefore offers a critical reading of the Indian economy at a moment when growth, equity, and global uncertainty are increasingly tied together.