A tragic fire in a commercial building in Delhi has claimed at least 21 lives, with several foreign nationals among the dead. The British consulate has activated an emergency hotline as officials scramble to account for UK citizens. This is a stark reminder of the risks inherent in regulatory arbitrage, where lax safety standards often mask the true cost of capital.
Markets despise uncertainty, and this disaster will inevitably trigger a flight to safety in travel and insurance sectors. The human toll is immense; the economic fallout will be measured in claims and lost tourism revenue. Central banks may be forced to recalibrate risk premiums on Indian assets.
Fiscal responsibility demands a rigorous audit of building codes, but the bottom line is that lives are the ultimate non-renewable resource.
