India's fertiliser subsidy bill is projected to increase by approximately 70,000 crore, reaching around 2.41 trillion in FY27, primarily due to rising import costs exacerbated by the ongoing West Asia crisis.
Over the past two decades, India has witnessed several major petrol price hikes, driven by global crude oil fluctuations, economic crises, currency depreciation and geopolitical conflicts. How did we get from Rs 34 to over Rs 100 today
China has criticised the US blockade of the Strait of Hormuz, calling it a dangerous and irresponsible move, and urged Washington and Tehran to honour the ceasefire. Beijing also denied aiding Iran militarily and threatened countermeasures if the US imposes tariffs.
Iranian Foreign Minister Seyed Abbas Araghchi spoke with Indian counterpart S Jaishankar to discuss the West Asia crisis, following discussions with Russian President Vladimir Putin.
United States President Donald Trump has welcomed the declaration from Tehran regarding the restoration of maritime access through the Strait of Hormuz.
Iran has strongly criticised US plans to impose a blockade on its ports, warning that maritime security across the Persian Gulf region would be jeopardised if its own security is threatened.
Iranian Foreign Minister Abbas Araghchi said his trip to Islamabad was "very productive" and involved "good consultations" with Pakistan's top leadership amid uncertainty over the second round of peace talks to resolve the war in West Asia.
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
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.
Donald Trump has issued a stern warning to Iran regarding alleged fees imposed on tankers passing through the Strait of Hormuz, further escalating tensions amid fragile ceasefire agreements and ongoing disputes with Israel over Lebanon.
The rupee weakened to a record low against the US dollar due to Gulf tensions, rising oil prices, and foreign capital outflows.
Pakistan's Interior Minister Mohsin Naqvi has been in Tehran meeting with Iranian officials in an attempt to mediate and resolve the ongoing conflict between the US and Iran. This marks Naqvi's second visit in less than a week as Pakistan seeks to bridge the differences between the two nations and establish long-term stability in the region.
US President Donald Trump stated he would not set a deadline for ending the conflict with Iran, claiming Iran's military capabilities have been severely weakened. He also said he would not use nuclear weapons and maintained the US has complete control over blockade measures against Iran.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
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.
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.
UN Secretary-General Antonio Guterres has expressed deep concern over US President Donald Trump's warning to Iran and appealed for the re-establishment of freedom of navigation in the Strait of Hormuz.
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
China and Pakistan have jointly proposed a five-point peace plan to address the ongoing conflict in West Asia, focusing on de-escalation and safe passage through the Strait of Hormuz.
The rupee recovered to 95.18 against the US dollar after hitting an all-time intra-day low of 95.44. The recovery was supported by possible RBI intervention amid renewed Gulf tensions and rising crude oil prices.
An Indian-flagged LPG vessel successfully transited the Strait of Hormuz, reducing the number of Indian ships stranded in the Persian Gulf. India is in talks with Iran to ensure safe passage for its tankers, and Indian refiners continue to purchase crude oil and LPG from Iran despite regional tensions.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
French President Emmanuel Macron on Monday announced that France and the United Kingdom will jointly lead a multinational initiative to restore free and secure navigation in the Strait of Hormuz amid uncertainty over the virtual control of the strategic waterway between the US and Iran.
Indian equity benchmark indices Sensex and Nifty tumbled over 1 per cent for the third consecutive day, driven by a sharp rally in crude oil prices, massive selling in IT stocks, and unabated foreign fund outflows amid ongoing geopolitical tensions in the Middle East.
Ahead of the expiry on Tuesday of the two-week ceasefire declared by US President Donald Trump in the conflict with Iran, US media outlets reported on Sunday that negotiators Steve Witkoff, special envoy for peace missions and Jared Kushner will head to Islamabad for talks with Iran.
For India, China's Indian Ocean power projection, maritime domain awareness, dual-use ports, underwater surveillance, antisubmarinewarfare, naval exercises with Pakistan, pose considerable pressure, depleted India's strategic depth and marginalises Indian role, points out Srikanth Kondapalli.
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.
Donald Trump has extended the deadline for Iran to reopen the Strait of Hormuz, amid escalating tensions between the two countries. Trump issued a harsh warning to Tehran, threatening to target Iran's energy and civil infrastructure if the Strait is not opened.
India has welcomed the ceasefire between the US and Iran, advocating for de-escalation, dialogue, and diplomacy to secure lasting peace in West Asia.
Indian benchmark indices Sensex and Nifty experienced volatility due to conflicting developments in West Asia, including reports of the Strait of Hormuz closure, which led to a rebound in crude oil prices and heightened investor concerns about supply disruptions and inflation.
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
US Secretary of State Marco Rubio said that discussions aimed at halting the conflict with Iran have shown "some slight progress," while simultaneously echoing Washington's dissatisfaction with its NATO allies.
Trump added that the United States would assist in managing the traffic buildup in the Strait of Hormuz.
Iran has presented a multi-layered proposal to the US in an attempt to break the deadlock in peace talks, focusing on de-escalation and nuclear programme discussions.
Israel's Defence Minister Israel Katz has stated that Israel is prepared to escalate military action against Iran, pending approval from the United States. This comes as US President Donald Trump says he would not use nuclear weapons in any conflict with Iran, while also claiming the US has 'total control' over the Strait of Hormuz.
Conflicting reports emerge regarding the effectiveness of the US blockade on Iranian ports, with Iran claiming successful transit of vessels and the US asserting complete maritime dominance.
'FPIs are unlikely to return unless there is equilibrium between valuation premium and earnings growth.'
Government sources indicate a potential increase in petrol and diesel prices due to rising global crude oil costs and losses incurred from a prolonged freeze on retail rates.
US President Donald Trump stated that military strikes against Iran could resume if they 'misbehave,' even as he reviews a new proposal from Tehran aimed at ending the paused conflict.
Trump's message, posted on his Truth Social platform, is a reminder of his 10-day ultimatum given to the Islamic Republic earlier to make progress toward a deal or reopen the vital shipping lane.
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