'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
As temperatures soar, booking queries have surged by double digits -- going up to 125 per cent -- for destinations like Kashmir, Shillong, Gangtok, Munnar, Leh, Rishikesh, Guwahati, Imphal, Kodaikanal and the Andamans.
Oil Minister Murli Deora has said that petrol and diesel prices would not be cut till crude oil prices fell to $67 a barrel, since the depreciation in the rupee against the US dollar had eroded gains from falling oil prices, which touched a 7-month low.
A Group of Ministers will take the decision in June.
Apart from this, state refiners are looking at optimising crude oil inventory levels without in any way affecting fuel supplies in the domestic market.
The Reserve Bank of India (RBI) has announced a record surplus transfer of Rs 2.87 trillion to the central government for FY26, driven by increased income and an expanded balance sheet, despite a reduction in the contingent risk buffer (CRB) to 6.5 per cent.
...reopen for up to six months. Until then, the Strait stays nearly closed. The world pays. And no one, including the man who started this, can say when it ends, notes Prem Panicker in his must read blog on the Iran War.
Indian eateries are adapting to the LPG crisis by cutting menus, increasing prices, and switching to alternative fuels like coal, as LPG supplies are disrupted due to global events. State authorities are cracking down on hoarding and black marketing of LPG cylinders.
IndiGo operator InterGlobe Aviation had a mildly encouraging third quarter in financial year 2026 (Q3FY26).
India's Oil Minister Murli Deora said a proposal to allow firms to set retail fuel prices based on market prices would be sent to the cabinet for approval within six weeks.
India's Oil Minister Murli Deora said a proposal to allow firms to set retail fuel prices based on market prices would be sent to the cabinet for approval within six weeks.
External Affairs Minister S Jaishankar has emphasised India's commitment to safe maritime transit and condemned attacks on merchant shipping amidst the ongoing West Asia conflict and global energy market disruptions.
Wholesale price inflation extended upward momentum for the third straight month, at 1.81 per cent in January, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Monday.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
Normal life was partially affected in Andhra Pradesh and West Bengal on Friday. An opposition-sponsored state-wide bandh was called in Andhra Pradesh to protest against fuel price hike while West Bengal was in the grip of a bandh for the second consecutive day after the opposition Trinamool Congress and its ally the Socialist Unity Centre of India (SUCI) enforced the shut down to protest the fuel price hike.
Jet fuel prices on Monday were hiked by a steep 5.3 per cent - the tenth straight increase this year -- to an all-time high, in line with a surge in global energy prices. The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 6,188.25 per kilolitre, or 5.29 per cent, to Rs 1,23,039.71 per kl (Rs 123 per litre) in the national capital, according to a price notification of state-owned fuel retailers. This is the 10th straight increase in jet fuel prices this year.
The government has chosen to profiteer off people's misery and suffering, Gandhi said.
Opposition MPs in the Rajya Sabha criticised the Modi government's economic policies, citing the LPG crisis, lack of energy security, and concerns over the Economic Stabilisation Fund.
Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
Foreign brokerages have started to cut their year-end targets for the Nifty 50 index amid the ongoing West Asia conflict.
India is one of the few nations, and perhaps the only nation, that has good relations with America, Israel and Iran. Knowing that a war in the Gulf would damage our economy, hurt supply of fertilisers and fuel, and cause general chaos, we should have tried to ensure this war did not begin, asserts Aakar Patel.
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
'Once the market decides it wants to go up, it goes up -- no amount of bad news can really hold it back.'
Domestic airlines on Thursday welcomed the 12.5 per cent cut in jet fuel prices, terming it as a much-needed relief but ruled out any immediate reduction in fares.
Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
Markets will look for clear guidance on how the MPC interprets the uncertainty and what it implies for the future course of monetary policy, points out Rajeswari Sengupta.
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
India's manufacturing sector growth slowed to a four-year low in March, impacted by cost pressures, competition, market uncertainty, and the Middle East conflict, according to the HSBC India Manufacturing PMI.
'So far our production is not affected. But every day the situation prolongs, it does bring risks in terms of shipments getting delayed.'
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's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
About 50,000 truckers, most of whom are single-truck owners, could be thrown off their businesses due to the recent fuel price hike. "Already the vehicle supply on the road is higher than the requirement. "With the fuel price hike, fleet owners will look to cut down fleet size wherever needed and due to this, small single-truck owners could be at the receiving end," Ashok Goyal, managing director at BLR Logistiks (I) Ltd said. The company has a fleet of 500 vehicles of all types-small, medium and large with pan-India presence.
Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
Reliance Industries' digital arm, Jio Platforms, may see its initial public offering (IPO) delayed to the second half of fiscal 2027, according to CreditSights. The delay is primarily attributed to ongoing geopolitical tensions in the Middle East, which could impact market conditions and investor sentiment.
The fast-growing GLP-1 market, propelled by lower-cost generics following patent expiry, is widening availability beyond patients with obesity and diabetes -- but also driving unsupervised, appearance-led demand, according to doctors.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
