{
 "_meta": {
  "what": "The registered sector-to-channel exposure map (sectors.json v1.1.0) with the deterministic weighting rule the exposure page computes with. Retrieval and description only: the instrument measures press salience, not risk, and makes no forecasts; an exposure profile re-cuts published numbers by the reader's own frame and adds no new claim.",
  "weight_rule": "Shares normalize to 1; each sector's share divides equally across its registered channels; channel weight is the sum across sectors. No intra-sector channel ordering exists in the registration, so none is invented.",
  "registration": "REGISTERED 2026-08-05 on founder delegation in chat ('you do max level'); delegated-fill review per the circularity-audit precedent: the founder may amend with a dated changelog entry, never silently",
  "version": "1.1.0",
  "generated": "2026-08-07T12:24:47Z",
  "license": "CC BY 4.0",
  "citation": "Krishna, Ishan (2026). India Geopolitical Risk Monitor. https://igrm.in/",
  "codebook": "https://igrm.in/codebook.html",
  "source": "https://igrm.in/data/exposure_sectors.json"
 },
 "sectors": {
  "textiles_apparel": {
   "label": "Textiles & Apparel",
   "channels": [
    "shipping",
    "us_trade"
   ],
   "rationale": "Export-led to US/EU; goods move via Red Sea/Suez westbound; tariff policy is the demand-side lever.",
   "nse_index": null
  },
  "gems_jewellery": {
   "label": "Gems & Jewellery",
   "channels": [
    "shipping",
    "gulf_energy"
   ],
   "rationale": "High-value trade routed through Gulf hubs (Dubai) and air/sea corridors; Gulf stability is both market and route.",
   "nse_index": null
  },
  "pharma": {
   "label": "Pharmaceuticals",
   "channels": [
    "us_trade",
    "shipping"
   ],
   "rationale": "US is the dominant export market (regulatory and tariff exposure); intermediates import-dependent via sea.",
   "nse_index": "^CNXPHARMA"
  },
  "it_services": {
   "label": "IT Services",
   "channels": [
    "us_trade"
   ],
   "rationale": "Revenue overwhelmingly US-facing; exposure is policy and visa salience, not physical corridors.",
   "nse_index": "^CNXIT"
  },
  "auto_components": {
   "label": "Auto & Components",
   "channels": [
    "us_trade",
    "shipping",
    "china_east"
   ],
   "rationale": "Export programs to US/EU; input chains route via Malacca; China is both supplier and policy variable.",
   "nse_index": "^CNXAUTO"
  },
  "agri_food": {
   "label": "Agriculture & Food Exports",
   "channels": [
    "shipping",
    "gulf_energy"
   ],
   "rationale": "Basmati, marine and produce exports to the Gulf and beyond move by sea; Gulf demand and Red Sea transit both bind.",
   "nse_index": null
  },
  "energy_manufacturing": {
   "label": "Energy-intensive Manufacturing",
   "channels": [
    "gulf_energy"
   ],
   "rationale": "Input-cost exposure to crude and LNG, which India imports predominantly from and through the Gulf.",
   "nse_index": "^CNXENERGY"
  },
  "chemicals": {
   "label": "Chemicals & Petrochemicals",
   "channels": [
    "gulf_energy",
    "shipping"
   ],
   "rationale": "Feedstock tied to crude complex; bulk movement by sea in both directions.",
   "nse_index": null
  },
  "metals": {
   "label": "Metals & Mining",
   "channels": [
    "china_east",
    "shipping"
   ],
   "rationale": "China sets the global metals cycle and trade-remedy environment; bulk cargo is corridor-dependent.",
   "nse_index": "^CNXMETAL"
  },
  "defence_aerospace": {
   "label": "Defence & Aerospace",
   "channels": [
    "pakistan_west",
    "china_east"
   ],
   "rationale": "Demand and program salience track the two land-border theatres directly.",
   "nse_index": null
  },
  "electronics": {
   "label": "Electronics Manufacturing",
   "channels": [
    "china_east",
    "us_trade",
    "shipping"
   ],
   "rationale": "Component chains run through East Asia via Malacca; US-China policy repositioning is the demand driver.",
   "nse_index": null
  },
  "fmcg": {
   "label": "FMCG",
   "channels": [
    "gulf_energy",
    "shipping"
   ],
   "rationale": "Included as a LOW-exposure control: domestic demand-led, exposure mostly via input costs and packaging/freight; a sector where the engine should show weak association.",
   "nse_index": "^CNXFMCG"
  },
  "engineering_goods": {
   "label": "Engineering Goods",
   "channels": [
    "us_trade",
    "shipping",
    "china_east"
   ],
   "rationale": "Largest export category by breadth; US/EU demand-side policy, sea freight both directions, Chinese components upstream.",
   "nse_index": null
  },
  "marine_products": {
   "label": "Marine Products & Fisheries",
   "channels": [
    "shipping",
    "us_trade"
   ],
   "rationale": "Seafood exports move refrigerated by sea to the US and East Asia; corridor disruption and US import policy are the binding risks.",
   "nse_index": null
  },
  "petroleum_refining": {
   "label": "Petroleum Refining & Export",
   "channels": [
    "gulf_energy",
    "shipping"
   ],
   "rationale": "India's largest export by value: crude in from the Gulf, refined products out by sea; doubly exposed to Hormuz and the western corridors.",
   "nse_index": "^CNXENERGY"
  }
 }
}