The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
The ongoing Iran-US conflict is casting a shadow over global cricket, potentially disrupting the IPL 2026 due to travel disruptions and logistical challenges.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
Indian benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global rally and a sharp decline in crude oil prices following the finalisation of a peace deal between the US and Iran to end their 107-day conflict and reopen the Strait of Hormuz.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
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.
Non-banking financial companies (NBFCs) reported encouraging results for Q4FY26 with improved asset quality and earnings, but analysts maintain a cautious near-term outlook due to geopolitical tensions, monsoon risks, and specific portfolio concerns.
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.
BJP leader Mithun Chakraborty has criticised the West Bengal government over high fuel taxes and alleged security lapses, particularly concerning women's safety and border control.
India's crude oil imports from Russia reached a record high of approximately 2.73 million barrels per day (mbpd) in June, driven by discounts of $2-5 a barrel. This surge comes as the West Asia crisis disrupted supplies from traditional sources and China reduced its own purchases, leading Russia to offer more favourable terms to India.
Navy Chief Admiral Dinesh K Tripathi revealed that the Indian Navy was on the verge of striking Pakistan during Operation Sindoor following the Pahalgam terror attack, but kinetic actions were stopped. He also discussed the impact of the West Asia conflict on maritime traffic.
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.
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 has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
The start of the West Asia conflict has led to a sharp increase in crude-linked raw material prices, pushing up the price of helmets across the country.
The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule.
Kerala, Tamil Nadu and West Bengal have been fiscally stressed for a considerable period of time, and there are no easy ways to mobilise revenues to meet the cost of the promised freebies, particularly in the prevailing difficult economic scenario, points out M Govinda Rao.
Airfares to Southeast Asia have surged 25 to 30 per cent, driven by high demand and limited airline seat capacity.
Despite a ceasefire agreement between Iran and the United States, the Strait of Hormuz remains blocked due to Iran's inability to locate and remove all the mines it laid during the conflict, hindering global oil and gas supplies.
Amid the ongoing conflict in West Asia, Israeli Ambassador to India, Reuven Azar, stated that Israel is willing to cease hostilities if Iran changes its course, emphasising that Tel Aviv has consulted diplomatic channels, including the US and regional partners.
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.
Crude oil prices are projected to fall significantly this year, driven by hopes of a peace deal between the US and Iran, which could lead to the reopening of the Strait of Hormuz, and a notable drop in Chinese demand for seaborne crude imports.
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.
10 stocks from the Nifty 200 index that offer good growth potential and scope to deliver decent returns from current levels, based on brokerage estimates.
Domestic LPG and commercial cylinder prices in India have seen a significant increase, driven by rising global energy costs linked to the conflict in West Asia. This marks the second price hike in less than a year, impacting households and businesses.
Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
Prime Minister Narendra Modi has urged for restraint in the use of petro products due to the West Asia crisis, emphasising the need to save foreign exchange and reduce the impact of war. He also highlighted India's progress in solar power and ethanol blending, while assuring support to Telangana's development.
Prime Minister Narendra Modi spoke with Saudi Arabia's Crown Prince Mohammed bin Salman about the ongoing conflict in West Asia, emphasising the need to ensure freedom of navigation and secure shipping lanes.
Dabur India's stock has fallen over 17 per cent since the start of the Iran war, driven by concerns over a weak monsoon, the West Asian crisis, and rising input costs, which are expected to impact the company's revenues and margins, particularly affecting its significant rural sales and international markets.
Indian Grandmaster Koneru Humpy has withdrawn from the FIDE Women's Candidates Tournament, citing concerns over her personal safety amidst the West Asia conflict.
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 real money in India over the coming period is likely to be made in small-cap stocks rather than in the large-cap benchmark names.'
The Indian rupee rebounded against the US dollar following intervention by the Reserve Bank of India, amidst ongoing concerns about foreign capital outflows, rising crude oil prices, and geopolitical instability.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
Tata Motors' MD and CEO, Girish Wagh, has identified rising diesel prices as the most significant threat to India's commercial vehicle (CV) industry recovery, despite the sector recently surpassing its pre-FY19 wholesale peak. Diesel costs account for 25-50% of a truck operator's total cost of ownership, making any increase a critical concern for fleet economics.
Analysts predict that the ongoing conflict in West Asia, crude oil prices, and global trends will significantly influence the Indian stock market in the upcoming holiday-shortened week. Foreign investor activity and rupee movement will also be crucial.
Prime Minister Narendra Modi will chair a meeting with senior ministers to review the petroleum, power, and fertiliser sectors in light of the evolving situation in West Asia, focusing on ensuring uninterrupted supply and stable logistics.
Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh, director, Delhi School of Economics.
A top Iranian official has blamed the US and Israel for the disruption of global supply chains due to the West Asia conflict, stating that Tehran is not happy about the consequences faced by countries like India.
