J D Vance heads to Islamabad for high-stakes US-Iran talks, balancing cautious optimism with a warning against bad faith. negotiations.
China has called on Iran to reopen the Strait of Hormuz and expressed appreciation for Tehran's commitment not to develop nuclear weapons, a key demand of the US to end the conflict.
Iran launched retaliatory military strikes targeting Israel and American military bases across the region, including in Qatar, the United Arab Emirates, Kuwait, Bahrain and Jordan.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
'Iran cannot trust the USA because it considers the USA to be Israel-controlled. And no, the IRGC is not going to accept anything else but major US concessions.'
India has expressed strong concern over the targeting of commercial shipping in the Strait of Hormuz during the West Asia conflict, urging for the restoration of unimpeded navigation and global commerce.
French President Emmanuel Macron on Monday announced that France and the United Kingdom will jointly lead a multinational initiative to restore free and secure navigation in the Strait of Hormuz amid uncertainty over the virtual control of the strategic waterway between the US and Iran.
India's private sector activity saw a significant recovery in April, driven primarily by robust growth in manufacturing output and sales, following a three-year low in March attributed to the West Asia conflict.
An Indian-flagged LPG vessel successfully transited the Strait of Hormuz, reducing the number of Indian ships stranded in the Persian Gulf. India is in talks with Iran to ensure safe passage for its tankers, and Indian refiners continue to purchase crude oil and LPG from Iran despite regional tensions.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
Fast-moving consumer goods (FMCG) companies like Dabur India and Marico anticipate high single-digit growth in Q4FY26, driven by strong domestic demand in India, which is helping to offset the negative impact of geopolitical conflicts in West Asia on their international businesses.
The statement comes even as Tehran links the issue to ongoing efforts to bring a complete end to hostilities in West Asia involving the United States and Israel.
Speaking to reporters aboard Air Force One, Trump said the US prefers a negotiated settlement and expects cooperation from Iran on securing nuclear-related materials.
China has established a new county in Xinjiang province near Pakistan-occupied Kashmir (PoK) and the Afghanistan border, a move seen as strengthening security along the Wakhan Corridor and addressing concerns about Uyghur separatist militants.
External Affairs Minister S Jaishankar stated that India has demonstrated resilience in the face of recent global shocks, including the conflict in West Asia, while speaking at the convocation ceremony of IIM Raipur. He emphasised the importance of building national capabilities to de-risk and develop leverage in a changing global order.
S&P Global Ratings has increased India's GDP growth forecast for the next fiscal year to 7.1 per cent, citing private consumption, investment, and exports as key drivers. However, the agency also cautioned that the conflict in the Middle East could strain India's fiscal position due to higher energy prices.
Indian benchmark indices Sensex and Nifty rebounded sharply on Monday, driven by a correction in crude oil prices due to ceasefire efforts in West Asia and strong buying in bank stocks.
'We are targeting a 2.5x to 3x increase in valuation by FY31.'
The escalating conflict in West Asia has resulted in 19 ships carrying essential energy resources for India being stranded in the Strait of Hormuz, raising concerns about potential disruptions to the country's energy supply.
'If movement remains stalled for three to four months, more than 300,000 recruitments from India could be affected.'
China has criticised the US blockade of the Strait of Hormuz, calling it a dangerous and irresponsible move, and urged Washington and Tehran to honour the ceasefire. Beijing also denied aiding Iran militarily and threatened countermeasures if the US imposes tariffs.
Hours after ceasefire, US President Donald Trump on Wednesday warned against any country supplying military weapons to the Islamic Republic, stating that he would impose a 50 percent tariff on all goods exported to the United States.
The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
There are enough people at the top decision-making level in Tehran who are still willing to negotiate, provided Trump can create the right setting for the negotiation to acquire a dynamic of its own, points out Ambassador M K Bhadrakumar.
India's manufacturing sector growth slowed to a four-year low in March, impacted by cost pressures, competition, market uncertainty, and the Middle East conflict, according to the HSBC India Manufacturing PMI.
Indian airports are rapidly becoming a significant growth avenue for the country's retail sector, with brands across various consumer segments actively opening stores to tap into the increasing number of flyers and strong domestic tourism momentum.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
28 Indian vessels carrying 778 seafarers are stranded in the Persian Gulf, prompting government monitoring and coordination to ensure their safety and security.
The Indian rupee depreciated by 32 paise to close at 92.83 against the US dollar, influenced by escalating global tensions, particularly the US-Iran conflict, and the deadline for the RBI's instructions to banks to curb overnight positions.
The 'Finalissima' match between Spain and Argentina that was scheduled to be held in Qatar has been cancelled due to the conflict in the Middle East while the South American side rejected multiple alternatives, UEFA said on Sunday.
Despite significant price differences, Indian farmers are increasingly adopting non-subsidised speciality fertilisers, which are seen as a potential solution to the rising fertiliser subsidy burden exacerbated by global supply shocks.
In a post on Truth Social, Trump used unusually harsh language to convey his message, reminding Tehran of his deadline to 'make a deal' or 'open the Strait'.
Analysts predict that the ongoing conflict in West Asia, crude oil prices, and global trends will significantly influence the Indian stock market in the upcoming holiday-shortened week. Foreign investor activity and rupee movement will also be crucial.
An India-flagged LPG tanker, Jag Vikram, has successfully crossed the Strait of Hormuz following a temporary ceasefire between the United States and Iran, marking a significant development for India's energy security.
Wipro, India's fourth-largest IT services company, has secured an eight-year deal with Singapore-based Olam group, valued at over $1 billion, and will also acquire Olam's IT and digital services arm, Mindsprint, for $375 million, marking one of its largest contracts to date.
As the negotiations continued, the Iranian government said on social media that "talks between Iran and the US in Islamabad entered the expert-level stage as economic, military, legal, and nuclear committees joined in".
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
Tensions flared in East Asia on Saturday as the Japanese government issued an urgent warning following military activity from Pyongyang. The Prime Minister's Office of Japan, in a post on X, alerted the public to the developing situation, stating: '[Emergency alert] North Korea has launched a suspected ballistic missile. More updates to follow.'
US Central Command (CENTCOM) released footage of a maritime operation where Marines boarded an Iranian-flagged vessel, the Touska, in the Gulf of Oman, leading to heightened tensions and threats of retaliation from Iran.
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