Live updates on the US-Israel-Iran war: Trump escalates threats, Iran retaliates, and oil prices surge as the Strait of Hormuz crisis disrupts global markets.
The proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
Despite ongoing tensions in West Asia, the successful arrival of the LPG carrier 'Nanda Devi' in Gujarat ensures a steady supply of liquefied petroleum gas to India, highlighting the country's efforts to secure its energy needs.
Trump also called upon China, France, and Japan, among others, to send ships to the Strait of Hormuz.
India has commissioned its new indigenously-built nuclear-powered ballistic missile submarine INS Aridaman into service, further strengthening the naval component of its nuclear triad. Defence Minister Rajnath Singh also highlighted the Indian Navy's role in securing maritime trade routes.
Indian stock markets experienced a significant rally following the announcement of a US-Iran ceasefire, coupled with a drop in crude oil prices. The Sensex and Nifty both closed nearly 4 per cent higher, mirroring gains in global markets.
Trump said that the strait will be "open very soon" if ongoing negotiations with Tehran continue successfully.
Commerce and Industry Minister Piyush Goyal announced that a US team is expected to visit India next month for trade talks, following an earlier Indian delegation's visit to Washington, DC, in April to finalise an interim pact and advance negotiations for a broader bilateral trade agreement.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
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.
Defence Minister Rajnath Singh assures India's energy security amidst West Asia tensions, highlighting naval protection of tankers and readiness to counter cross-border terrorism.
'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.'
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.
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.
A spokesperson for the Central Khatam al-Anbiya Headquarters said that Iran's armed forces are prepared to intensify their response if aggression continues.
If one has to compare the tenures of the two prime ministers one must credit Nehru with laying the foundations on which Modi is building a grand edifice, asserts Colonel Anil A Athale (retd).
Construction major L&T is gearing up to expand its footprint in the global nuclear supply chain, a senior company official has said, while calling for amendments to key legislations on the domestic front to pave the way for the entry of private players and foreign capital necessary for capacity enhancement.
Crude oil prices have surged to record highs due to escalating tensions between the US and Iran, raising concerns about supply disruptions and market volatility.
Prime Minister Narendra Modi will visit the UAE, the Netherlands, Sweden, Norway and Italy to deepen India's bilateral ties amid geopolitical changes.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
The Indian government's decision to ban sugar exports until September 30 has drawn sharp criticism from the sugar industry and farmer leaders, who fear long-term negative impacts despite the stated aim of controlling domestic prices and ensuring availability.
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
The UK Maritime Trade Operations issued a warning noting that the incident took place approximately 15 nautical miles north of Sharjah.
The United States has announced it will not renew sanctions exemptions for the purchase of Russian and Iranian oil, ending a 30-day waiver that allowed some countries, including India, to continue importing Russian oil despite sanctions related to the Ukraine war.
Chinese President Xi Jinping warned US President Donald Trump that mishandling the Taiwan issue could trigger conflicts between the two countries during wide-ranging talks on trade, Iran, and energy security.
The US-China rapprochement, however tenuous, is not without implications for India. Both China and Pakistan have become closer to the US, notes Ambassador T P Sreenivasan.
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'.
In a statement issued by Iran's consulate in Mumbai, it said, "At present, Iran essentially has no floating crude or surplus available for international markets. The US Treasury Secretary's remarks appear aimed at reassuring buyers and managing market sentiment."
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
US President Donald Trump has claimed that China has committed to halting weapon supplies to Iran, following his personal diplomatic interventions with Chinese President Xi Jinping.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
India on Friday launched a highly coordinated, priority operation to safely guide 13 Indian-flagged commercial vessels out of the volatile Strait of Hormuz, the ministry of ports, shipping, and waterways announced on Friday.
Trump's remarks marks one of the most direct rebukes yet from Washington to its allies over their refusal to support US-led military operations in Iran and over the energy crisis triggered by disruptions in the Persian Gulf.
Indian foreign direct investment (FDI) in the United States has reached approximately USD 16.4 billion, supporting around 70,800 jobs and contributing significantly to research and development, according to US Deputy Undersecretary Brandon Remington.
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.
The RusBeam 2800 is now India's largest electron-beam wire deposition 3D printer operating under vacuum. The machine was custom-built for India and is operated with software developed by Rosatom.
Global energy markets saw a significant correction as oil prices nosedived following Iran's announcement that the Strait of Hormuz has been fully reopened, dismantling the 'war-risk' premium that had gripped the market.
A convoy of India-bound ships carrying crude oil and gas was stopped by the Iranian Revolutionary Guard Corps (IRGC) in the Strait of Hormuz, leading to several vessels returning to the Persian Gulf.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
