The Reserve Bank of India (RBI) has kept its key lending rate, the repo rate, unchanged at 5.25 per cent for the second consecutive time, citing concerns over rising energy prices, supply disruptions from the West Asia crisis, and potential inflationary pressures.
The escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
Representative of Iran's Supreme Leader in India, Abdul Majid Hakeem Ilahi, expressed doubts about the United States' intentions regarding negotiations, citing conflicting actions and a desire to force Iran into accepting US demands.
Chinese Foreign Minister Wang Yi has urged Iran to guarantee freedom and safe passage through the Strait of Hormuz, a critical waterway for global oil trade, amid ongoing tensions with the US.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
Elon Musk reportedly participated in a phone call between US President Donald Trump and Indian Prime Minister Narendra Modi to discuss the Iran crisis, raising questions about his involvement in diplomatic discussions.
The question is whether the clocks allow enough time for two deeply mistrustful sides to get there, and whether the surface calm holds long enough for the paddling to produce something before the ceasefire ends on April 22, notes Prem Panicker in his must read blog on the Iran War.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
The Indian rupee gained 2 paise to settle at 93.33 against the US dollar, driven by positive sentiment in domestic equity markets and renewed hopes for US-Iran talks, despite rising WPI and CPI inflation.
Islamabad's attempt to position itself as a mediator in the West Asia conflict has come to naught with the Iranian side refusing to meet any US-led delegation in Pakistan, reports the Wall Street Journal.
A spokesperson said the government is carefully assessing these communications in the context of the ongoing regional crisis.
...reopen for up to six months. Until then, the Strait stays nearly closed. The world pays. And no one, including the man who started this, can say when it ends, notes Prem Panicker in his must read blog on the Iran War.
In a significant diplomatic manoeuvre aimed at de-escalating regional tensions, Iran has reportedly submitted a "new proposal" to the United States through Pakistani intermediaries.
Iran has denied sending a delegation to Islamabad for peace talks with the United States, contradicting Pakistan's claims of mediating the negotiations. The denial highlights a lack of confidence in Pakistan's ability to ensure security for high-level participants and underscores the fragile nature of diplomatic efforts between the US and Iran.
J D Vance heads to Islamabad for high-stakes US-Iran talks, balancing cautious optimism with a warning against bad faith. negotiations.
As Iran heads into crucial peace talks with the United States of America, here are the six men who decide the Islamic Republic's course.
The United States Central Command (CENTCOM) has announced that American forces are maintaining a strict maritime restrictive operation in the region, continuing to enforce a blockade against Iranian ports.
Iran's ambassador to India, Mohammad Fathali, has described India as a "reliable and compassionate" partner while asserting Tehran's territorial authority over the Strait of Hormuz amidst ongoing regional tensions.
India-based Iranian actresses Mandana Karimi and Elnaz Norouzi share their deep concerns and anxieties about the escalating crisis in Iran, and reveal the personal toll on their lives and the Iranian diaspora.
Indian wedding bookings to Sri Lanka are projected to grow 20-25 per cent annually over the next few years.
Tensions escalate at the UN Security Council as the US and Israel defend their military actions against Iran, while Iran condemns the strikes as war crimes, raising fears of a wider Middle East conflict.
External Affairs Minister S Jaishankar addresses the Indian Ocean Conference, expressing deep concern over the West Asia conflict and its economic repercussions on energy, trade, and food security. India calls for a swift return to peace and opposes targeting civilians and infrastructure.
'Many have contributed in terms of gold and silver. Ladies in big numbers have contributed their home belongings and gold.' 'Some have donated their cars too.'
India's exports increased by 15.5 per cent to USD 40.41 billion in June, but the trade deficit significantly widened to a record USD 30.43 billion due to a 31 per cent surge in imports.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
Despite international crude oil prices falling to a four-month low, retail petrol and diesel prices in India are unlikely to be cut immediately because state-run refiners are still processing costlier crude purchased during the peak of the West Asia crisis, Oil Minister Hardeep Singh Puri said.
Nayara Energy, India's largest private fuel retailer, has reduced petrol prices by Rs 5 per litre and diesel by Rs 3 per litre nationwide, marking the first such cut in over two years. This reduction follows easing tensions in West Asia and stabilised international crude oil prices, though public sector retailers have not yet followed suit.
Pakistan's Prime Minister Shehbaz Sharif has called for urgent de-escalation and dialogue in West Asia during a phone call with Iran's President Masoud Pezeshkian, expressing serious concern over ongoing hostilities.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
It was left to an incensed Gen Z to show the rest of India that enough was enough, and that the time had come to shatter the fear psychosis generated by the government's authoritarian approach to protests and criticism, points out M R Narayan Swamy.
Donald Trump's inconsistent statements and actions regarding the conflict with Iran have drawn criticism and confusion, raising questions about American credibility and the direction of US foreign policy.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
Indian equity benchmark indices experienced a significant drop in early trade, with the BSE Sensex falling over 525 points and the NSE Nifty down more than 164 points, primarily due to rising crude oil prices and ongoing uncertainty surrounding the US-Iran conflict.
Rupee slumped 69 paise to an all-time low of 92.18 against the US dollar in early trade on Wednesday, as a sharp spike in crude oil prices amid geopolitical tensions following the escalation of the US-Iran conflict weighed on investor sentiment.
Although extensive air attacks have been carried out to destroy most of Iran's defence capabilities, the latter's resilience and sustenance during the war clearly indicate that the US landing force would encounter severe resistance in the operation, explains Commodore Venugopal Vengalil (retd).
Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
US President Donald Trump concluded his Beijing summit with Chinese President Xi Jinping, describing it as 'incredible' and highlighting 'fantastic trade deals' and a 'very strong' relationship between the two leaders.
