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.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
World Earth Day 2026 is celebrated on April 22 to promote environmental protection. Know its history, significance, theme, inspiring quotes, and why it matters more than ever today.
External Affairs Minister S Jaishankar stated that India has demonstrated resilience in the face of recent global shocks, including the conflict in West Asia, while speaking at the convocation ceremony of IIM Raipur. He emphasised the importance of building national capabilities to de-risk and develop leverage in a changing global order.
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Modi said that the West Asia crisis has been going on now for more than three weeks and is having a very adverse impact on the global economy and on people's lives. He said the entire world is urging all parties for the earliest resolution of this crisis.
India significantly increased piped natural gas (PNG) connections in March as the government accelerates the expansion of cleaner fuel networks amid global supply disruptions.
A spokesperson said the government is carefully assessing these communications in the context of the ongoing regional crisis.
The Indian government has doubled the daily quota of market-priced 5-kg LPG cylinders for migrant workers to ensure stable fuel supplies amidst global disruptions. This move prioritises household cooking gas and addresses the needs of migrant workers who often lack regular connections.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
President Trump asserts the US military has decimated Iran's forces and no longer requires assistance from NATO allies to secure the Strait of Hormuz, despite earlier requests for support.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
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.
Raghu Rai, one of India's most celebrated photographers, passed away at a private hospital in New Delhi at the age of 83. He is survived by his wife, son, and three daughters.
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.
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian to discuss the escalating tensions in West Asia, emphasising the safety of Indian nationals and the need for regional stability through dialogue and diplomacy.
IndiGo operator InterGlobe Aviation had a mildly encouraging third quarter in financial year 2026 (Q3FY26).
Prime Minister Narendra Modi addressed an NDA rally, assuring that the Indian government is providing assistance to Indian citizens stranded in West Asia due to the ongoing conflict. He criticised the Congress party for allegedly making provocative statements and spreading rumours regarding the crisis.
The Indian government has allocated an additional 40,000 kilolitres of kerosene to states as an alternative fuel to LPG, amid the ongoing crisis in West Asia. The government assures a comfortable crude oil supply situation in the country.
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.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
Delhi should keep all its options open in what is essentially a transitional period in the geopolitics of energy rather than remain a gatekeeper serving Trump's 'America First', suggests Ambasssador M K Bhadrakumar.
Former NITI Aayog CEO Amitabh Kant warns that artificial intelligence (AI) could exacerbate global inequalities if not used for the benefit of people, highlighting its immense energy requirements and the need for renewable energy solutions.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
Citizens and residents across the Gulf region are preparing for Eid amidst regional conflict, impacting festivities and daily life.
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
The Indian government is unlikely to allow a parliamentary debate on the West Asia crisis, citing prior briefings by the External Affairs Minister. This decision comes amid opposition protests and a pending no-confidence motion against the Speaker.
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.
Trump may strike. He may announce productive talks and extend again. He may do both at the same time. Iran will not open the Strait on someone else's terms, so no matter what happens, that problem will remain unsolved. And the IRGC will still be collecting its $2 million toll from every ship bold enough to ask permission to pass.
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"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
External Affairs Minister S Jaishankar addressed the Rajya Sabha on India's position regarding the escalating conflict in West Asia, emphasising the need for peace, dialogue, and the safety of civilians, while also prioritising India's energy security and trade interests.
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Finance Minister Nirmala Sitharaman announces increased domestic LPG production to offset import disruptions caused by Middle East tensions, alongside assurances of fertiliser availability and the clearing of UPA-era oil bonds.
Trump also called upon China, France, and Japan, among others, to send ships to the Strait of Hormuz.
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.
The ceasefire is still technically holding, to the extent that no overt hostilities have been reported yet, but the rhetoric has hardened dangerously. The week ahead will also clarify whether the Islamabad failure was a negotiating tactic or whether Washington has genuinely locked itself into a position from which the only exits are climb-down, escalation, or the slow bleed of a new status quo that nobody chose and nobody controls. Prem Panicker continues his must read blog on the Iran War.
Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
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