A trade deal makes sense only if it is fair and reciprocal. If the cost is strategic dependence or loss of policy space, waiting is the wiser option, asserts Ajay Srivastava.
Prime Minister Narendra Modi and US President Donald Trump discussed the West Asia crisis and the importance of keeping the Strait of Hormuz open and secure. They also reviewed progress in bilateral ties and anticipated upcoming deals in the energy sector.
The Iranian Embassy in South Africa has launched a biting social media attack on US President Donald Trump, using a viral maritime audio clip to label him an "idiot".
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
More than three months after RBI scrapped a long-standing payment mechanism used to pay for Iranian crude imports, India has resumed payments to the nation's second largest oil supplier using an alternative system.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
'What we have yet to see on either the US or the Iranian side is willingness to compromise on their ultimate demands and the flexibility to reach an agreement to end the war.
Oil India has discovered natural gas reserves off the Andaman Islands, the state-owned firm said without putting an estimate of the size of the find. In a statement, OIL said "occurrence of natural gas" was reported in the second exploratory well Vijayapuram-2 drilled in the Offshore Andaman Block AN-OSHP-2018/1, which the company had won under the Open Acreage Licensing Policy (OALP).
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
Top commanders of the Indian Navy will discuss the implications of the West Asia crisis on India's energy security and review operational readiness at a three-day conference.
Reliance Industries Ltd has consistently remained compliant with international sanctions and is expected to adhere to upcoming measures on Russian oil, analysts said, estimating that oil sourced from Russia contributes just 2.1 per cent to its consolidated EBITDA. Reliance operates the world's largest single location refining complex, with more than half of the capacity exclusively dedicated for exports.
The ceasefire is still technically holding, to the extent that no overt hostilities have been reported yet, but the rhetoric has hardened dangerously. The week ahead will also clarify whether the Islamabad failure was a negotiating tactic or whether Washington has genuinely locked itself into a position from which the only exits are climb-down, escalation, or the slow bleed of a new status quo that nobody chose and nobody controls. Prem Panicker continues his must read blog on the Iran War.
It may now be time to question the price India is paying for Israel's disregard of the serious undermining of India's energy security, asserts former foreign secretary Shyam Saran.
Opposition parties are demanding a full Parliament discussion on the West Asia conflict, criticising the government's silence and calling for a contingency plan to protect India's energy security and citizens.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
The logic of war plus the gathering storms in US politics as the midterms loom large leave him with no real alternative but to negotiate, points out Ambassador M K Bhadrakumar.
India has commissioned its new indigenously-built nuclear-powered ballistic missile submarine INS Aridaman into service, further strengthening the naval component of its nuclear triad. Defence Minister Rajnath Singh also highlighted the Indian Navy's role in securing maritime trade routes.
Suryakumar Yadav discusses his successful partnership with head coach Gautam Gambhir, highlighting their shared understanding and mutual respect, which has led to significant success for the Indian T20 team.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
US, EU have shut down the use of their financial systems for Iranian crude trade.
Reliance imported about 1.09 million bpd in January as it had cut runs at its older 660,000 barrels per day (bpd) plant by about 23 per cent from a year ago.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
Trump's post on Truth Social comes a day after the US asked G7 countries to impose tariffs on countries purchasing oil from Russia.
A group of Indian sailors recount their harrowing experience of being detained in Iran on suspicion of smuggling, and their subsequent escape from the country as regional tensions escalated into open conflict.
President Trump asserts the US military has decimated Iran's forces and no longer requires assistance from NATO allies to secure the Strait of Hormuz, despite earlier requests for support.
Prime Minister Narendra Modi addresses the Rajya Sabha, detailing India's strategies to navigate the global energy crisis sparked by the West Asia conflict, including securing diverse energy sources and expanding strategic oil reserves.
The Indian government has revised its natural gas allocation priorities, placing LPG production alongside CNG and piped cooking gas at the top, due to disruptions in imported gas supplies caused by the conflict in West Asia.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
Two Indian ships carrying liquified petroleum gas (LPG) from the Gulf countries crossed the Strait of Hormuz early on Saturday morning, raising the number of Indian vessels safely passing through the war-hit, narrow shipping lane to three.
Prime Minister Narendra Modi addressed the Lok Sabha on the West Asia crisis, expressing concern over its impact on the global economy and assuring the safety of Indian citizens in the region.
Prime Minister Narendra Modi addressed the Lok Sabha on the West Asia crisis, expressing concern over its impact on the global economy and assuring the safety of Indian citizens in the region.
An influential US lawmaker claims his visit to India helped catalyze "early signals" that New Delhi may reduce its imports of Russian oil, a step he described as "meaningful" in weakening Moscow's ability to fund its war in Ukraine.
India's exports rose 6.7 per cent to $35.1 billion in August annually, while imports declined 10.12 per cent to $61.59 billion, according to government data released on Monday. Gold imports were down nearly 56 per cent in August, helping to trim merchandise trade deficit to $26.49 billion in August, as against $35.64 billion in the year-ago month.
Former US President Donald Trump has criticised Iran's stance on the Strait of Hormuz, calling it a form of 'extortion' amid ongoing negotiations for a peace deal. The remarks come as Iran considers imposing transit fees on vessels crossing the strategic waterway.
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.
India said it is broad-basing and diversifying sourcing of petroleum product to meet market conditions.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
US President Donald Trump asserted that the trade deal with India remains intact despite a Supreme Court ruling against his tariffs, while also claiming he used tariffs to stop a war between India and Pakistan.
