'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
When missiles fly in this region, they are never just aimed at military targets.
India must focus on building enduring national capabilities and economic sovereignty in the face of shrinking space for rules-based trading, anti-immigrant stance, weaponization of energy sources and growing use of export controls in critical sectors, the Economic Survey said on Thursday.
The United Nations has revised downward India's economic growth forecast for 2026 to 6.4 per cent from an earlier 6.6 per cent, attributing the change to global uncertainties and economic shocks stemming from the ongoing West Asia crisis.
A new report indicates India has become the world's fifth most digitalised economy and ranks fourth globally in AI performance, driven by increasing AI adoption and a strong digital infrastructure.
The United States has announced new sanctions targeting Iran's 'shadow oil economy,' accusing Tehran of using illicit oil revenues to fund the Islamic Revolutionary Guard Corps (IRGC) and its regional activities.
A joint study by IBM and IndiaAI, a MeiTY initiative, indicates that Artificial Intelligence (AI) has the potential to contribute over USD 500 billion to India's economy by 2030. The report highlights the need for improved AI literacy, infrastructure, and data quality to fully realise this potential.
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's economy is projected to maintain growth above 7 per cent in 2026-27 (FY27), supported by strong domestic consumption and investment, even as global growth faces risks from geopolitical tensions, according to industry body Assocham.
Union Health Minister J P Nadda has emphasised the need for sound regulation, ethical oversight, and equity in the application of Artificial Intelligence (AI) to healthcare, speaking at the World Health Assembly in Geneva.
US President Donald Trump reiterated his strong support for India and Prime Minister Narendra Modi, declaring that 'India can count on me 100 per cent' during a celebratory event marking the 250th anniversary of American independence in New Delhi.
A senior Russian official has stated that Russia is prepared to supply fertilisers and other agricultural products to countries in the Global South and East, following concerns about the closure of the Strait of Hormuz impacting global fertiliser exports and food security.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
The Reserve Bank of India (RBI) has projected a 6.9 per cent GDP growth for the current financial year, citing concerns over commodity prices and supply chain disruptions stemming from the West Asia crisis.
Indian benchmark stock indices, Sensex and Nifty, closed nearly 1 per cent lower due to surging crude oil prices, weak global market trends, and significant foreign fund outflows, with geopolitical tensions and inflation concerns further dampening investor sentiment.
Moody's Ratings has reduced India's GDP growth forecast for 2026 to 6 per cent, citing subdued private consumption, capital formation, and industrial activity due to higher energy costs and global uncertainties.
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
A few frantic calls later, the answer emerged: She had missed her connecting flight in London. Not because she was late. Not because she couldn't walk fast enough. She had simply gone to the wrong gate, sat down, and waited.
US Secretary of State Marco Rubio said that discussions aimed at halting the conflict with Iran have shown "some slight progress," while simultaneously echoing Washington's dissatisfaction with its NATO allies.
India's digital economy is projected to constitute nearly 20 per cent of the nation's GDP by 2030, fuelled by a growth rate twice as fast as the overall economy, according to a senior government official.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
British Prime Minister Keir Starmer contacted US President Donald Trump to express his relief following a shooting incident near the White House Correspondents Dinner. The leaders also discussed the need to restore freedom of navigation in the Strait of Hormuz.
Indian benchmark indices Sensex and Nifty closed lower, snapping a two-day rally, as a spike in crude oil prices, triggered by reports of fresh US military operations in southern Iran, dampened investor sentiment and reignited fears of renewed energy supply disruptions.
Russian President Vladimir Putin will attend the BRICS summit in New Delhi on September 12-13, according to a presidential aide.
Prime Minister Narendra Modi addressed the Lok Sabha on the West Asia crisis, expressing concern over its impact on the global economy and assuring the safety of Indian citizens in the region.
Prime Minister Narendra Modi addressed the Lok Sabha on the West Asia crisis, expressing concern over its impact on the global economy and assuring the safety of Indian citizens in the region.
A readout by the US said the agreement marked a milestone in the strategic partnership between the two nations to ensure that the foundational elements required for advanced technology and energy are available within trusted networks.
Assam emerged as the fastest-growing large state with a remarkable 17.3 per cent nominal GDP CAGR over five years.
India's first trillion-dollar company will be built on technology it owns, not just operates, predicts Ajay Kumar.
Prem Panicker's Must Read Blog On The Gulf War.
We who were dreaming of being the third largest economy in dollar terms, have slid back to sixth, thanks to the falling rupee. We are moving about with begging bowls for investments and trade opportunities, which will be a while in materialising, if ever, notes Shreekant Sambrani.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
The Sri Lankan government attributes the sharp depreciation of the rupee against the US dollar to the ongoing conflict in West Asia, citing increased costs for essential imports like gas, fertiliser, and oil.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
'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.'
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
Prime Minister Narendra Modi has called for the resolution of the West Asia crisis and the Ukraine conflict through dialogue and diplomacy, asserting that military action alone cannot achieve lasting peace. He made the remarks after talks with Norwegian Prime Minister Jonas Gahr Store.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
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