India's merchandise exports experienced a slight decrease in February, while imports surged due to increased gold and silver purchases, leading to a widened trade deficit. The West Asia crisis is expected to further impact trade in the coming months.
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
In view of the disruptive situations, the Central government has also announced a financial relief package of Rs 497 crores aimed at helping exporters affected by disruptions in West Asia.
The government has assured citizens that there is no need to panic book LPG cylinders, as uninterrupted supply to households is being ensured despite the ongoing conflict in West Asia.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
The report said ships must submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a designated corridor.
The fragile ceasefire in West Asia between the US and Iran to halt the hostilities in the region for two weeks faces renewed uncertainty as Tehran reportedly moved to block the strategic Strait of Hormuz once again due to Israel's intensified offensive against Hezbollah in Lebanon, according to Iranian state media Islamic Republic News Agency (IRNA), which US President Trump says was "not included" as part of the ceasefire deal.
Dozens of Indian-flagged ships and over a thousand seafarers are stranded in the Persian Gulf, Gulf of Oman, and surrounding areas due to the closure of the Strait of Hormuz amidst ongoing military actions involving the US, Israel, and Iran.
The US Embassy acknowledged the attack in a post on X, urging Americans to avoid the facility 'until further notice' and announcing that all appointments had been cancelled.
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
The Ministry of External Affairs (MEA) has stated that Prime Minister Narendra Modi and External Affairs Minister S Jaishankar are actively engaged with world leaders to promote dialogue and diplomacy for peace in West Asia, while also ensuring the safety and well-being of the Indian community in the region.
India said it is broad-basing and diversifying sourcing of petroleum product to meet market conditions.
It advises about display of boards in various workplaces such as lobbies, canteens, cafeterias, meeting rooms etc., to raise awareness on harmful consumption of hidden fats and excess sugar in various food items.
Trump may strike. He may announce productive talks and extend again. He may do both at the same time. Iran will not open the Strait on someone else's terms, so no matter what happens, that problem will remain unsolved. And the IRGC will still be collecting its $2 million toll from every ship bold enough to ask permission to pass.
"The US President's statements are within the framework of efforts to reduce energy prices and gain time to implement his military plans," the ministry stated.
India responds to US President Trump's claim that PM Modi assured him of halting Russian oil imports, stating it is diversifying energy sources to meet market conditions and safeguard consumer interests.
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.
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.
"For 2010-11 and beyond, the Kirit Parikh report will be the benchmark. The report is being studied.These decisions are politically sensitive issues and have to be sustained over a period of time," Petroleum Secretary S Sundareshan told Business Standard. "It is impossible to insulate the Indian consumer against the movement in international oil prices."
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
India continues to face LPG supply challenges for the third consecutive week due to disruptions caused by the West Asia conflict, though panic buying is showing signs of easing. The government is prioritising domestic household supplies and encouraging alternative fuel sources.
Amidst escalating tensions in West Asia, India strongly condemns the recent attacks on energy infrastructure, warning of further destabilisation to the already uncertain global energy market.
The government has mandated that cooking gas LPG supply to households will be discontinued if consumers fail to switch to piped natural gas where such connectivity is available, under a new order aimed at accelerating gas network expansion and reducing reliance on a single fuel.
The United Arab Emirates Ministry of Defence has announced that the air force and air defence forces have successfully intercepted a significant number of aerial threats following a large-scale Iranian attack that commenced on February 28.
The Indian government is dealing with the matter having in mind the national interests of this country in the first place, he said.
India has fully protected its sensitive sectors like dairy, rice, wheat, pulses, tea, genetically modified (GM) goods, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral free trade agreement, according to the Commerce Ministry.
A Thai cargo vessel was struck by missiles near the Strait of Hormuz, leaving three crew members missing and prompting a rescue operation by the Royal Navy of Oman.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
Chaffing under public ridicule in the US as well as internationally for having 'lost' the war, Trump is under immense pressure to do something, cautions Ambassador M K Bhadrakumar.
Iran's Islamic Revolutionary Guard Corps (IRGC) claims control of the Strait of Hormuz and reports striking a US destroyer, escalating tensions in the Middle East following retaliatory strikes between Iran, the US, and Israel.
The IRGC said the barrage targeted several US military facilities in the region, including bases at Sheikh Isa in Bahrain, Juffair in Bahrain, Ali al-Salem in Kuwait and Al Azraq in Jordan.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
India's crude oil imports from Russia strengthened in the first half of October, reversing a three-month slide in arrivals seen during July-September as refineries were back on full stream to meet festive demand, according to ship tracking data.
India has stated it will wait for the outcome of the elections in Bangladesh and the resulting mandate before addressing any existing issues. The country also affirmed its support for free, fair, inclusive, and credible elections in Bangladesh.
In a major setback to Trump's pivotal economic agenda for his second term, the US Supreme Court, in a 6-3 verdict written by Chief Justice John Roberts, ruled that the tariffs imposed by the president on nations around the world were illegal.
