'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Around one full month of supply is firmly arranged with additional procurement being continuously finalised, and oil companies are successfully delivering over 5 million cylinders every day.
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 has reportedly allowed select "friendly nations" including India and Pakistan limited access to the Strait of Hormuz amid ongoing conflict, easing some energy supply concerns. Here's what the move means for global trade and oil routes.
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 Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
External Affairs Minister S Jaishankar defends India's purchase of Russian oil, stating it is not the largest purchaser and that the US had previously supported such actions to stabilize energy markets. He also addresses concerns about tariffs and trade relations with the US.
Amid escalating tensions with Iran, President Trump is urging nations dependent on Middle Eastern oil to deploy warships to the Strait of Hormuz to safeguard critical global energy supplies.
The Indian banking system's net liquidity surplus has reached a four-year high of Rs 4.57 trillion, driven by maturing government securities, with further maturities expected to push the surplus to around 5 trillion.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
From the Sensex firms, Kotak Mahindra Bank, Titan, Axis Bank, Adani Ports, Mahindra & Mahindra, Reliance Industries, Tata Motors and HDFC Bank were among the major gainers. However, Eternal and Infosys were the laggards.
Indian equity markets experienced a significant downturn, with the Sensex and Nifty plummeting due to rising crude oil prices, geopolitical tensions in West Asia, and continuous foreign fund outflows.
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.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
Indian benchmark equity indices Sensex and Nifty experienced a significant crash in early trade, triggered by a sharp increase in crude oil prices and escalating tensions in the Middle East.
On the other hand, Bharat Electronics, Kotak Mahindra Bank and Axis Bank were the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled higher.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
Benchmark indices tumbled about 2 per cent on Friday, capping one of the most turbulent weeks for domestic equities as investors fretted that the West Asian conflict could drag on for weeks or even months.
There are roughly 2,000 ships stranded in the Persian Gulf, carrying more than 20,000 seafarers, according to the International Maritime Organisation, as quoted by The Wall Street Journal.
United States President Donald Trump on Wednesday said Prime Minister Narendra Modi had assured him that India would stop purchasing oil from Russia, describing it as "a big step" in efforts to increase global pressure on Moscow.
Indian investors have seen their wealth erode by a staggering Rs 48.29 lakh crore since the West Asia war began on February 28, leading to a significant downturn in the BSE Sensex and NSE Nifty, driven by geopolitical tensions and rising crude oil prices.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
Gold prices experienced a significant drop in futures trading due to global selloff, inflation concerns, and a strong US dollar. Analysts predict a continued downward trend amid geopolitical tensions and potential rate hikes.
Sensex and Nifty post steepest weekly loss in over a year, falling nearly 3 per cent.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
The ongoing conflict involving the United States, Israel, and Iran intensified sharply with attacks on critical energy infrastructure across the Gulf, even as US President Donald Trump said he had cautioned Israeli Prime Minister Benjamin Netanyahu against targeting Iran's key South Pars Gas Field.
When missiles fly in this region, they are never just aimed at military targets.
Karex, the Malaysian company that makes roughly one in five of the world's condoms -- about five billion a year, supplying Durex and Trojan among others -- announced this week that it is raising prices by up to 30 percent. The reason is the Strait of Hormuz.
...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.
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.
Fixed deposits from nationalised banks delivered higher returns than equities, outperforming both inflation and stock market benchmarks.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
The Reserve Bank of India (RBI) Governor Sanjay Malhotra is now confronting the classic growth-inflation tradeoff, a situation exacerbated by the West Asia war, which threatens to end the 'goldilocks period' of low inflation and robust growth.
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.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
Indian stock market benchmarks Sensex and Nifty rebounded by over 1% on Monday, driven by value-buying in banking stocks after a three-day slump. Key gainers included UltraTech Cement, HDFC Bank, and Mahindra & Mahindra.
India has relocated the majority of its students from Tehran due to the escalating conflict in West Asia. The Indian embassy has arranged for their transportation, food, and accommodation outside of Tehran. An advisory remains in place for other Indian nationals in Iran to stay indoors and exercise caution.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
