US President Donald Trump indicated the possibility of further military operations against Iran's Kharg Island, a key oil export hub, claiming previous strikes had significantly damaged its infrastructure.
The Indian government has revised its natural gas allocation priorities, placing LPG production alongside CNG and piped cooking gas at the top, due to disruptions in imported gas supplies caused by the conflict in West Asia.
Qatar, India's largest supplier of imported natural gas, has declared force majeure on deliveries following a halt in production in the wake of an Iranian drone strike -- a disruption that has led to a cut in supplies to Indian industry by up to 40 per cent, sources said.
The International Energy Agency (IEA) has proposed immediate demand-side measures, including remote work, lower speed limits, and reduced air travel, to mitigate the impact of a global oil supply shock caused by Middle East disruptions.
24 Indian-flagged vessels with 677 Indian seafarers were currently located west of the Strait of Hormuz, and four vessels with 101 Indian seafarers were stationed east of the strategic waterway.
When missiles fly in this region, they are never just aimed at military targets.
He added that opposition parties were assured that their concerns regarding the impact of the West Asia situation on India and the safety of Indian citizens were addressed in detail.
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
Replacing over a third of India's oil imports at competitive rates is going to be a challenge, said traders from State refiners, even though some progress was made in the last two months.
'Our diplomacy should have been focused on preventing war and avoiding the inevitable disruptions it would cause, posing a real risk to India's growth story,' asserts former foreign secretary Shyam Saran.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
Israel and the United States had a plan. Iran punched back. And now the Gulf is reeling, the world is beginning to feel the pain and, as on date, no one in Washington or Tel Aviv appears willing to admit that the punch has landed, notes Prem Panicker, continuing his must-read blog on the war in the Middle East.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
India offset the decline in exports to traditional destinations by sharply ramping up shipments to Jordan (18,086 per cent), Hong Kong (17,006 per cent), Spain (13,436 per cent), the Philippines (2,235 per cent), and Namibia (1,068 per cent) in H1FY26.
Russian President Vladimir Putin's visit to India this week aims to secure energy supplies, stabilise defence deliveries and ensure bilateral trade continues smoothly despite strong Western sanctions, GTRI said on Tuesday.
India and Russia have solidified a five-year plan to enhance their economic and trade partnership, while also addressing the ongoing conflict in Ukraine and the threat of terrorism.
India has gained the least since Russia invaded Ukraine in February 2022 and was penalised the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war.
The Indian Rice Exporter's Federation (IREF) on Tuesday urged the government to provide tax incentives, interest subvention and freight support in the upcoming 2026 Budget to strengthen the sector's competitiveness while addressing sustainability concerns.
India's exports to the US contracted 8.6 per cent to $6.3 billion in October, while imports rose 13.9 per cent to $4.5 billion leading to a trade surplus of $1.8 billion during the month.
India's decision to import LPG from the US helps it to diversify sources as it reduces almost full reliance on West Asian countries for supply of the country's primary cooking fuel.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
US shale oil would act as an alternative to India's heavy dependency on Russian crude, which is currently facing sanctions.
Indian private sector and State-run refiners continued to receive crude oil from Russian suppliers even after November 21 -- the winding-down date for US sanctions on supplies from leading Russian oil producers imposed in October -- as new intermediaries sprung up in West Asia to sell the oil, according to senior refining sources and ship tracking data.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
New Zealand Prime Minister Christopher Luxon on Monday said the negotiations for a free trade agreement with India have been concluded.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
'There are very few issues and a political call needs to be taken about some of them.'
One key development is the direct cargo connection between Chennai and Vladivostok, a crucial Russian port on the Northern Sea Route.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
The escalating trade war between the US and China is expected to benefit Indian exporters in increasing their shipments to the American market, according to experts. Federation of Indian Export Organisations (PTI) President S C Ralhan said that imposition of higher tariffs by the US on China will shift demand towards India, which exported goods worth Rs 86 billion to the US in 2024-25.
India's crude oil imports from Russia strengthened in the first half of October, reversing a three-month slide in arrivals seen during July-September as refineries were back on full stream to meet festive demand, according to ship tracking data.
Electric two-wheeler (e2W) companies are upset with some of their suppliers of heavy rare-earth magnet-powered electric motors, who have objected to their proposal - under consideration by the government - that would allow e2W original equipment manufacturers (OEMs) an exemption from localisation norms on electric motors, thereby enabling them to continue receiving the 5,000-per-vehicle subsidy.V
Trump administration's chief negotiator Brendan Lynch is arriving in India to hold talks on the India-US bilateral trade deal, which were impacted after the US imposed 50 per cent import tariffs on Indian goods.
The emotional quotient of They Call Him OG falls flat, the plotting looks jerky, and the runtime feels compromised, but hey, if you are a Pawan Kalyan fan, none of this matters, notes Arjun Menon.
From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
With India making it clear that the US doesn't have enough spare capacity for crude oil, Washington, DC, now wants India to sign fixed-term liquefied natural gas (LNG) contracts with American producers, multiple sources in the know said.
Inventories of rare earth magnets used in critical automotive components - particularly electric vehicle (EV) traction motors and power steering systems - could run dry by mid-July this year, according to rating agency Icra.
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
Hindalco's India business, including Utkal Alumina, reported good results for the January-March quarter of the financial year 2024-25 (FY25) and consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) also rose. Earnings growth was driven by favourable pricing, lower input costs and lower tax outgo for Novelis.
