Iranian President Masoud Pezeshkian arrived in New Delhi for the BRICS summit, where he is scheduled to hold bilateral talks with Prime Minister Narendra Modi to enhance trade and strengthen overall relations. His visit is particularly significant given the heightened tensions in West Asia and recent US economic sanctions against Iran. Pezeshkian highlighted BRICS' role in fostering economic resilience and reducing dependence on the US dollar, while the summit itself aims to address global challenges and bolster collective resilience in critical sectors.
Indian equity benchmark indices Sensex and Nifty experienced a significant tumble in early trade, primarily driven by elevated crude oil prices due to ongoing West Asia uncertainty and substantial foreign fund outflows. Track Sensex, Nifty on September 29.
India successfully facilitated a significant diplomatic meeting between Iranian President Masoud Pezeshkian and UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on the sidelines of the BRICS Summit in New Delhi. This interaction, a diplomatic breakthrough given ongoing West Asia conflicts, occurred as BRICS adopted a declaration urging restraint and protection of civilians in the region, highlighting the bloc's commitment to peace and stability.
India's wholesale price-based inflation surged to 11.39 per cent in September, up from 9.92 per cent in August, primarily driven by increasing prices of food, manufactured items, and fuel and power.
The Indian Navy is enhancing its operational capabilities across all domains, including air, underwater, AI, and quantum technology, to become a multi-domain network force. Vice Chief of Naval Staff, Vice Admiral Ajay Kochhar, highlighted lessons from recent conflicts, the exploration of directed-energy weapon systems, and significant procurement plans, including 42 new platforms on order and RFPs issued for LPDs and next-generation frigates. The Navy's focus on indigenous innovation and technology absorption, guided by "scale, sophistication, speed, and spiral development," aims to meet evolving operational requirements and protect maritime interests, especially amidst ongoing global crises.
The Reserve Bank of India's Monetary Policy Committee (MPC) has commenced its three-day meeting, with a majority of economists and bankers anticipating a 25 basis point rate hike to counter escalating inflation risks, particularly from West Asia conflicts.
'Elevated crude prices and unchanged domestic fuel prices would put pressure on the profitability and cash flows of OMCs.'
India's exports saw a significant 23 per cent increase, reaching USD 44.4 billion in September, while the trade deficit narrowed to USD 30.21 billion, according to recent government data.
Reserve Bank of India Governor Sanjay Malhotra has stated that the rupee may be 'undervalued' by many estimates and assured that the RBI will work to ensure its stability and help it find its 'correct value' amidst recent depreciation.
Iranian President Masoud Pezeshkian concluded his visit to India for the 18th BRICS Summit, announcing that Iran and the UAE agreed to move past previous tensions. This diplomatic breakthrough occurred during talks with Abu Dhabi's Crown Prince on the summit sidelines. Pezeshkian also met with PM Modi to discuss bilateral ties and West Asia developments, with Modi emphasising dialogue for regional peace. The BRICS summit adopted the New Delhi Declaration 2026, calling for global governance reforms and de-escalation in West Asia.
Cristiano Ronaldo scored Al-Nassr's second goal in their 3-1 victory over Uzbekistan's Neftchi in the AFC Champions League Elite, a match that was delayed by an hour due to a security warning in Riyadh.
Investors are set to monitor quarterly earnings, crude oil prices, the Jio Platforms initial public offering, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
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.
'India should not trade away its energy security for temporary tariff relief. Neither signing a trade agreement nor stopping Russian oil purchases can protect it from future US action.'
Indian equity benchmark indices, Sensex and Nifty, extended their losses for a second consecutive day, driven by elevated crude oil prices, persistent foreign institutional investor (FII) outflows, and high US Treasury yields.
Former US National Security Adviser John Bolton has stated that China is not prepared to back India's bid for a permanent seat on the UN Security Council. He highlighted that any expansion of permanent membership would require a UN Charter amendment, which China could veto. Bolton also discussed the broader institutional challenges facing the UN and suggested that regime change in Iran is crucial for long-term stability in West Asia, linking Houthi attacks to Iran's "ring of fire" strategy.
Former Indian shooter Rajeshwari Kumari has been appointed as the South Asia representative to the Olympic Council of Asia's (OCA) Athletes Committee. Her nomination was approved by the OCA Executive Board, bypassing elections held for other zonal positions. This appointment highlights her continued involvement in sports administration following a successful shooting career and her family's legacy in Olympic sports.
Two members of Iran's delegation to the United Nations General Assembly in New York were "kicked out" of the United States on Saturday after allegedly failing to comply with a US State Department order to leave the country, Axios reported, citing a US official, as tensions between Washington and Tehran continue to rise amid the West Asia crisis, particularly the Strait of Hormuz.
Civil Aviation Minister K Rammohan Naidu announced that the government will not impose a cap on airfares during the upcoming festive season. Instead, airlines will be advised to maintain reasonable prices, considering the rising operating costs primarily due to increased Aviation Turbine Fuel (ATF) prices, exacerbated by the West Asia crisis.
Indian stock markets are expected to remain highly sensitive to geopolitical developments, particularly the US-Iran situation, and crude oil prices this week, with analysts also highlighting the influence of the rupee-dollar trend, foreign investor activity, and upcoming inflation data.
Pakistan's government is exploring measures, including potential smart lockdowns and austerity, to reduce petroleum consumption. This comes after recent fuel price hikes driven by rising global oil prices and West Asia tensions, which have also raised concerns about oil supply disruptions. The government is also implementing a fuel relief scheme and faces public pressure over the price increases.
The Iran conflict led to a sharp correction in Reliance Industries Ltd's (RIL's) share price, which has been partially reversed by a rebound.
The BRICS grouping adopted a consensus joint declaration in New Delhi, successfully navigating differences on the West Asia conflict but notably omitting any direct mention of US strikes on Iran or Iranian military attacks on Gulf Arab nations. The declaration also criticised Israel's actions in Gaza and called for a concerted approach against terrorism.
On September 18, 2026, Tehran witnessed a large military march featuring the feared-by-Iranian civilians Basij militia. Female members carried missile mockups and banners while coffins with images of US President Donald John Trump and Israeli Prime Minister Benjamin Netanyahu were displayed.
Iranian Foreign Minister Abbas Araghchi has urged Pakistan to use its diplomatic influence to help de-escalate the current regional situation and support efforts to maintain the ceasefire.
India's current account deficit could widen to 1.7 per cent of GDP, or about $71 billion, if crude oil prices stay above $90 a barrel for a significant part of the second half of FY27.
Indian benchmark indices Sensex and Nifty experienced significant declines in early trade, driven by soaring crude oil prices amidst escalating tensions in West Asia, coupled with weak global market trends and foreign fund outflows.
India has expressed serious concern over Houthi attacks on Saudi Arabia's civilian infrastructure and economic assets, stating that such actions threaten regional stability and freedom of navigation through the Bab-el-Mandeb strait. External Affairs Minister S Jaishankar discussed the issue with his Saudi counterpart. India also condemned the targeting of commercial shipping after an Indian national went missing following an attack on a Panama-flagged ship off Oman.
The threat has raised concerns about possible asymmetric attacks outside the region. Iran has also stepped up attacks on energy infrastructure in Gulf countries.
The Saudi-led coalition issued a stern warning to Yemen's Houthi rebels after intercepting a drone targeting Mecca, Islam's holiest city. Describing it as a "hostile and terrorist act," the coalition declared the security of holy sites a "red line" and vowed deterrent measures. This incident marks a significant escalation in the ongoing conflict, with both sides exchanging accusations of military operations and civilian targeting.
Economy passengers are paying more year-on-year while business travellers are paying less.
Indian stock markets, including the Sensex and Nifty, experienced a significant tumble in early trade, driven by escalating tensions in West Asia that pushed crude oil prices close to the USD 100-per-barrel mark, alongside selling in IT stocks and fresh foreign fund outflows.
The Finance Ministry is set to commence its pre-budget meetings on October 12, initiating preparations for the Union Budget 2027-28, which will be the fourth budget of the Modi 3.0 government and the tenth for Finance Minister Nirmala Sitharaman.
India's wholesale price-based inflation (WPI) increased to 9.92 per cent in August, up from 9.78 per cent in July, primarily due to rising prices across food, manufactured items, and fuel and power sectors.
Indian stock markets experienced a significant downturn, with the Sensex plunging 1,124 points to a six-month low and the Nifty closing below 22,800, driven by surging crude oil prices, escalating geopolitical uncertainties, and weak global market trends.
The Reserve Bank of India's recent measures, including a dedicated dollar window for state-run oil marketing companies and tightened foreign exchange derivative rules, are expected to provide near-term relief to the rupee's depreciation, but market participants believe global factors and balance of payment dynamics will continue to exert pressure in the medium term.
India's foreign exchange reserves have surged by a record USD 44.903 billion to a new lifetime high of USD 785.706 billion for the week ended September 4, driven by the Reserve Bank of India's concessional forex swap initiatives.
Non-resident Indians are increasingly investing in luxury homes in India, driven by geopolitical uncertainties, particularly the Iran war. This trend is observed across major cities like Mumbai, Bengaluru, and the National Capital Region, with developers noting a significant rise in NRI pre-sales. While some see it as a temporary shift, others believe India is becoming a stable, long-term investment destination for NRIs, especially those from West Asia.
Iranian President Masoud Pezeshkian declared that Iran will not succumb to "bullying" from the US and Israel, vowing to protect national interests amidst escalating West Asian hostilities. During his visit to New Delhi for the BRICS summit, Pezeshkian also discussed strengthening bilateral ties with Prime Minister Narendra Modi and advocated for local currencies in BRICS trade, positioning Iran as a strategic energy and transport partner.
United States Central Command (CENTCOM) forces have conducted a 'heavy wave of strikes' against numerous Islamic Revolutionary Guard Corps (IRGC) targets in Iran. This action was a direct response to attempted Iranian missile strikes on US forces in West Asia, which were successfully intercepted. The strikes targeted IRGC military command centres, missile and drone facilities, coastal surveillance, and maritime capabilities, aiming to reduce threats posed by Iran and its proxies. US President Donald Trump also issued strong warnings to Tehran, linking the escalation to a recent drone strike on an LNG vessel in Egypt's Damietta Port.
