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 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 Indian government reports casualties among its seafarers due to the ongoing crisis in West Asia and outlines measures to ensure the safety and welfare of its maritime personnel.
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 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.
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.
'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.
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 LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
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.
'India should understand that we are not going to make the same mistakes with India that we made with China 20 years ago.'
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.
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.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
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.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
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.
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.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
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.
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.
Ukraine claimed responsibility after explosions hit the vessels on Friday and Saturday.
With state-owned oil marketing companies strapped for cash on account of selling products at subsidised rates, the Oil Ministry last week approached the Finance Ministry seeking oil bonds in advance for the second and third quarters of the current fiscal 2008-09.
Saudi Arabia's steep cut in LPG benchmark prices has pushed India's household LPG underrecoveries to their lowest level in over two years, slashing oil companies' losses from Rs 200-250 per cylinder last year to about Rs 20-40 now.
As the sun sets in a riot of colours during the days of Ramzan, the call to prayer is heard and Indian streets are transformed into places of both faith and feasting.
Specifically, military experts are assessing if the 'Octopus' interceptor anti-drone system, produced in the UK to support Ukraine in countering Russian threats, could be repurposed to strengthen British protections against Iran's Shahed drones.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
China has denied reports of finalising a deal with Iran to sell CM-302 supersonic anti-ship missiles, amidst rising tensions in the Middle East and joint US-Israeli airstrikes.
Indian eateries are adapting to the LPG crisis by cutting menus, increasing prices, and switching to alternative fuels like coal, as LPG supplies are disrupted due to global events. State authorities are cracking down on hoarding and black marketing of LPG cylinders.
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.
Amidst escalating tensions in West Asia, India voices strong concerns over the safety of its nationals and the potential disruption to energy supplies, urging dialogue and diplomacy for a swift resolution.
The ministry of petroleum and natural gas is evaluating a threshold at which the subsidy on liquefied petroleum gas (LPG or cooking gas) will be reinstated. According to a senior government official in the know, a survey is currently being conducted to determine the price at which maximum consumers will keep buying domestic cylinders. One of the options also being considered is to limit any subsidy disbursal only to Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries.
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.
Two days after Russian President Vladimir Putin concluded his visit to India, during which he assured that Moscow would remain a reliable energy supplier, the Kremlin on Monday said that India, as a sovereign nation, is free to buy oil from sources it deems beneficial. It expressed confidence that New Delhi will continue to prioritise its economic interests.
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.
India and the US have decided to reschedule their meeting to finalize the interim trade pact due to recent developments and implications, including changes in US tariffs.
Retail inflation stood at 2.75 per cent in January under the new series of All India Consumer Price Index (CPI), with 2024 as the base year, released on Thursday.
Indian officials will visit the US to finalise the legal text for an interim trade agreement, expected to be signed in March, focusing on duty concessions and reciprocal tariffs.
Government had proposed a revised investment plan for the main gas fields in the KG-D6 block.
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