The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
The intriguing bit is that Trump is likely to attend the talks in Islamabad this weekend -- if he does, it will be the clearest signal yet that the US is ready to exit the war with some sort of win to show, since he cannot afford to go for the talks and return empty-handed, notes Prem Panicker in his must read blog on the Iran War
Civil unrest in Iran has started impacting India's basmati rice exports to the country, leading to a sharp fall in domestic prices, as exporters face payment delays and mounting uncertainties, an industry body said on Tuesday. The Indian Rice Exporters Federation (IREF) urged exporters to reassess risks on Iranian contracts and adopt secured payment mechanisms, warning against over-leveraging inventories meant for the Iranian market.
Peaceful demonstrations were held in several Shia-dominated areas of Kashmir in support of Iran, following congregational prayers on Friday. Protesters voiced their support for Iran and condemned the US and Israel.
The combined market valuation of four of India's top-10 most valued firms, including State Bank of India, Bharti Airtel, Tata Consultancy Services, and Larsen & Toubro, eroded by Rs 1 lakh crore last week amidst a volatile and range-bound equity market.
'FPIs are unlikely to return unless there is equilibrium between valuation premium and earnings growth.'
Delegations from the US and Iran have arrived in Islamabad for talks aimed at resolving the conflict between the two nations, following a ceasefire brokered by Pakistan. The negotiations are being closely watched due to their potential impact on regional security and global diplomacy.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
United States and Israeli officials are assessing potential policy options in response to ongoing unrest in Iran, according to multiple indications received by Israeli media reports The Jerusalem Post.
Anti-government protests in Iran have continued for the fourteenth consecutive day on Saturday, with authorities tightening security measures as demonstrations spread across multiple cities.
United States President Donald Trump warned Iran of potential strikes on its infrastructure, including bridges and electric power plants, saying the US military 'hasn't even started destroying what's left in Iran'.
The Andhra Pradesh cabinet has recommended a series of measures, including 'No Vehicle Day,' online classes, and reduced foreign tours, to mitigate the economic impact of the Gulf war.
Escalating geopolitical tensions in West Asia are beginning to disrupt India's automotive supply chain, leading to rising commodity prices, logistics bottlenecks, material shortages, and pressure on consumer demand, with two-wheeler makers already raising prices.
The Israel Defence Forces (IDF) have conducted a massive military operation targeting more than 200 infrastructure sites within Iran and an additional 140 Hezbollah assets across Lebanon.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
Residents across the Gulf region, including the UAE, Bahrain, and Qatar, experienced fear and disruption following attacks, leading to flight suspensions and heightened security measures.
US President Donald Trump on Friday referred to the Strait of Hormuz as a potential "gusher" for the world and spoken about "opening it for the world."
China is significantly expanding its nuclear power sector, aiming to become a global leader by 2030. The country has the capacity to construct up to 50 nuclear reactors simultaneously, reducing reliance on fossil fuels.
Iran's Supreme Leader Ayatollah Ali Khamenei has publicly acknowledged for the first time that thousands of people were killed during recent nationwide protests, marking an unusual admission from the clerical leadership amid a fierce crackdown that has drawn international attention, reports Fox News.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
Protesters in Berlin told EuroNews that they hoped their activism would lead Europe and the United States to assist the Iranians in their struggle to topple the regime.
'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.
Indian benchmark indices Sensex and Nifty experienced volatile trade, declining in early deals before fluctuating, as investors reacted to unabated foreign fund outflows and rising geopolitical uncertainties, particularly in West Asia.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's call for citizens to make economic sacrifices in response to the West Asia conflict, calling it 'evidence of failure'. Gandhi accused Modi of shifting responsibility onto the public and being incapable of running the country.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
Following attacks in West Asia, hundreds of Indians, including prominent personalities, are stranded in Dubai and other key hub airports due to flight disruptions, prompting appeals for government assistance.
British Prime Minister Keir Starmer visited the site of a terrorist attack in London where two Jewish men were stabbed and addressed the rise of antisemitism in the UK.
Indian benchmark stock indices Sensex and Nifty rebounded nearly 1 per cent, snapping a three-day decline, driven by rallies in Reliance Industries and Sun Pharma, alongside positive global market trends and easing geopolitical tensions.
India's fiscal deficit is projected to reach 4.5 per cent of GDP for the current fiscal year, exceeding the budgeted target, as the government's policy responses to the West Asia conflict are expected to strain public finances, according to research firm BMI.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
Petrol and diesel prices in India have been increased by Rs 3 per litre each, marking the first rate hike in over four years. This decision follows a period of stable prices during recent state elections, despite rising global crude oil prices and significant losses for fuel retailers.
Russian Foreign Minister Sergei Lavrov will visit Beijing to discuss the West Asia conflict, the Strait of Hormuz blockade, and bilateral relations with Chinese leaders.
High-level peace talks between the US and Iran, facilitated by Pakistan, aim to de-escalate the conflict in West Asia and potentially reshape regional stability.
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
A US-sanctioned tanker carrying Iranian crude oil is heading to India, marking the resumption of oil imports from Iran after seven years.
Indian benchmark indices Sensex and Nifty experienced a significant tumble in early trade, driven by surging global oil prices, continuous outflows by Foreign Institutional Investors (FIIs), and persistent geopolitical uncertainties, particularly in West Asia.
Several Indians, including students, have arrived in Delhi from Iran amid widespread protests and a government crackdown. The Indian government has issued advisories urging citizens to leave Iran.
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
A US Air Force officer was rescued from deep inside Iran after his jet was shot down, following a two-day mission involving US Special Operations forces. The officer evaded Iranian forces for over 24 hours, hiding in a mountain crevice and hiking to high altitudes before being rescued.
The Indian rupee depreciated by 32 paise to close at 92.83 against the US dollar, influenced by escalating global tensions, particularly the US-Iran conflict, and the deadline for the RBI's instructions to banks to curb overnight positions.
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