Prime Minister Modi has urged citizens to adopt measures like judicious fuel use, postponing gold purchases, and deferring foreign travel to strengthen India's economy in the face of the West Asia conflict's adverse impact.
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.
India's foreign exchange reserves saw an increase of USD 963 million, reaching USD 672.587 billion for the week ending June 19, as reported by the RBI. This rise follows a previous week's drop. While foreign currency assets decreased, the value of gold reserves significantly increased, contributing to the overall growth.
The Reserve Bank of India (RBI) and the central government have introduced a package of measures, including tax exemptions for FPIs on government securities and a concessional foreign-exchange swap facility, aiming to attract up to $50 billion in foreign capital. This initiative is designed to strengthen India's balance of payments and potentially cover the projected BoP gap for FY27.
The Enforcement Directorate has launched a foreign exchange violation investigation against Vedanta Group, conducting searches at its premises in multiple locations.
India's foreign exchange reserves saw a substantial decline of USD 9.985 billion, reaching USD 671.625 billion for the week ended June 12, primarily driven by a sharp decrease in gold reserves, according to the Reserve Bank of India (RBI).
The Enforcement Directorate (ED) has conducted searches against the Vedanta Group as part of a Foreign Exchange Management Act (FEMA) probe, officials said on Tuesday. The action was launched against the mining conglomerate on Monday, initiated after the central agency began investigating the Anil Agarwal-promoted company.
A case has been registered against a US-based organisation and six others after the Enforcement Directorate lodged a complaint alleging illegal utilisation of foreign funds through a network of foreign debit cards, including in Left Wing Extremism (LWE)-affected areas of the country.
India's foreign exchange reserves decreased by $711 million to $681.61 billion for the week ending June 5, primarily driven by a significant reduction in foreign currency assets, according to the Reserve Bank of India (RBI).
The Indian government has dismissed concerns that the use of E20 fuel could affect the validity of vehicle insurance policies, stating that the ethanol blending programme remains safe, consumer-friendly, and economically beneficial.
The rupee has been among the The RBI uses the Iran-US peace deal to bolster its forex reserves.
Reserve Bank Governor Sanjay Malhotra announced that India's foreign exchange reserves stand at a healthy $682.3 billion as of May 29, 2026, providing approximately 11 months of import cover and strong protection against external shocks.
IndiGo, India's largest airline, reported a net loss of Rs 2,536.9 crore in the March quarter of fiscal year 2025-26, primarily attributed to a significant foreign exchange loss of approximately Rs 8,100 crore, the impact of December flight disruptions, and expenses related to new labour laws.
Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes while recycling of old jewellery has increased following the recent hike in import duties.
India's foreign exchange reserves increased by USD 938 million to USD 682.321 billion during the week ended May 28, according to the Reserve Bank of India, following a previous week's drop.
India achieved a current account surplus of USD 7.1 billion, or 0.7 per cent of GDP, in the January-March quarter of 2025-26, primarily boosted by robust services exports and increased remittances from overseas Indians, according to recent Reserve Bank of India data.
The Reserve Bank of India (RBI) reported a significant 52 per cent year-on-year increase in gains from foreign exchange transactions, reaching 1.69 trillion in FY26. This surge occurred despite the central bank selling a gross $195 billion in the spot market to manage rupee volatility, which saw a 9.85 per cent depreciation.
The Directorate of Revenue Intelligence (DRI) has dismantled a gold smuggling syndicate at Mumbai's international airport, seizing 2.6 kg of gold in wax form, valued at approximately Rs 4.20 crore.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
The recent depreciation of the rupee along with sharp fall in the country's foreign exchange (FX) reserves has sparked a debate whether stability of the exchange rate is necessary and desirable. The rupee was one of the least volatile currencies among peers for almost two years before the current downward pressure started in September after the US Federal Reserve lowered interest rate.
India's foreign exchange reserves saw a significant drop of USD 7.511 billion, settling at USD 681.384 billion for the week ending May 22, as the Reserve Bank of India intervened in the forex market due to rupee pressure and the lingering effects of the Middle East conflict.
Why would a country that requires close to $90 billion in net foreign capital annually to create jobs, build productive capacity, and sustain rapid growth permit $30 billion of capital to flow abroad, thereby contributing to pressure on the rupee? asks Debashis Basu.
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.
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.
Analysts predict that developments in West Asia, their impact on crude oil prices, and the trading activity of foreign institutional investors (FIIs) will be crucial factors influencing the Indian stock market this week.
India's foreign exchange reserves saw a significant drop of USD 8.094 billion, settling at USD 688.894 billion for the week ending May 15, as the Reserve Bank of India intervened in the forex market and global events like the Middle East conflict impacted the rupee.
Indian benchmark indices Sensex and Nifty experienced a decline in early trade, mirroring weak global market trends and persistent outflows from foreign institutional investors (FIIs), exacerbated by ongoing geopolitical uncertainties in West Asia.
The Reserve Bank of India (RBI) has reported a significant increase in the use of the Indian Rupee (INR) for import and export invoicing and settlement, highlighting its growing internationalisation and mutual benefits for trading partners.
The Indian equity market is set for an event-heavy week, with analysts pointing to the Reserve Bank of India's (RBI) interest rate decision, developments in the US-Iran situation, and crude oil prices as the primary determinants of market trends.
India's foreign exchange reserves saw a significant increase of USD 6.295 billion, reaching USD 696.988 billion for the week ending May 8, as reported by the Reserve Bank of India.
Maruti Suzuki India Ltd has launched the Wagon R, India's first flex-fuel car, capable of running on any blend of ethanol and petrol from E20 to E100, aligning with national energy security and sustainability goals.
Maharashtra Chief Minister Devendra Fadnavis rode a motorcycle to work following Prime Minister Modi's appeal to cut down fuel consumption amid the ongoing conflict in West Asia.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
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.
India and Nepal have launched a peer-to-peer (P2P) cross-border remittance mechanism, linking India's UPI with Nepal's NPI. This system allows real-time money transfers via mobile banking, enhancing convenience for travellers and businesses, fostering financial inclusion, and strengthening economic ties between the two nations.
The Enforcement Directorate (ED) is investigating the use of foreign debit cards by a global Christian mission to withdraw crores of rupees in Naxal violence-hit regions of India. Searches were conducted in multiple states, and foreign debit cards, cash, and digital devices were seized.
Chinese Foreign Minister Wang Yi is set to attend the BRICS National Security Advisors meeting in New Delhi on June 22-23. The high-level gathering will address international security challenges, regional issues, and prepare for the upcoming BRICS Summit in India. Wang Yi is also expected to hold bilateral talks with India's NSA Ajit Doval, focusing on India-China border issues.
The luxury carmaker plans to drive growth through local assembly of the MINI Countryman, expansion into 10 new cities and a broader product portfolio.
Indian startup funding plummeted by 43 per cent year-on-year to $7.81 billion between March 1 and June 15, 2026, largely due to the West Asia conflict, which has amplified global risk perceptions, tightened liquidity, and led to rupee depreciation, making global investors cautious.
The Reserve Bank of India (RBI) net-bought $7.4 billion from the spot foreign exchange market in February, its highest buy since March 2025, before heavily intervening by selling dollars in March as the rupee declined over 4 per cent following a spike in crude oil prices.
