Eid al-Fitr was celebrated across India with prayers for peace and brotherhood, alongside protests condemning US-Israel actions in West Asia.
Prime Minister Narendra Modi convened a meeting with senior ministers to assess the impact of the evolving situation in West Asia on India's crude oil, gas, petroleum, power, and fertiliser sectors, focusing on ensuring uninterrupted supply and stable logistics.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
While investors would focus on the results and guidance for the third quarter of financial year 2025-26 (Q3FY26) in the normal course of business, the US-Israeli attack on Iran and the latter's retaliation at Gulf allies of the US has forced them to weigh the consequences of the event.
External Affairs Minister S Jaishankar discussed the West Asia conflict's impact on the global economy, particularly energy security, with US Secretary of State Marco Rubio. He also engaged with GCC ambassadors and his Sri Lankan and German counterparts on the same issue.
The US torpedo attack on the Iranian warship IRIS Dena in international waters was a lawful act of war between belligerents, not a diplomatic or strategic embarrassment for India, asserts Vice Admiral Biswajit Dasgupta (retd).
Israel has for more than two decades and several US presidencies worked to draw the United States into a full-scale war with Iran. Having finally achieved that, the last thing it wants is Trump declaring victory and going home, as he is prone to do. Ali Larijani was the figure most capable of handing Trump a negotiated exit with something to show for it. Without Larijani, the road to an exit gets considerably narrower. Prem Panicker continues his must read daily blog on the Gulf War.
Chinese Foreign Minister Wang Yi has called on India and China to view each other as partners rather than rivals, emphasising the importance of cooperation for regional stability and development.
External Affairs Minister S Jaishankar has engaged in multiple conversations with his Iranian counterpart to secure safe passage for Indian merchant vessels through the Strait of Hormuz amidst escalating tensions in West Asia.
Prime Minister Narendra Modi has called for a swift end to the conflicts in West Asia and Ukraine, emphasising the importance of dialogue and diplomacy. He made the remarks after talks with Finnish President Alexander Stubb, where they also agreed to a strategic partnership in digitalisation and sustainability.
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.
India is evaluating its involvement in the Chabahar port project in Iran due to potential US tariffs. The US had granted India a waiver for the project, but it expires soon. India is exploring options to continue supporting the port's development while minimizing exposure to US sanctions.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
Several Indians, including students, have arrived in Delhi from Iran amid widespread protests and a government crackdown. The Indian government has issued advisories urging citizens to leave Iran.
Domestic LPG and commercial cylinder prices in India have seen a significant increase, driven by rising global energy costs linked to the conflict in West Asia. This marks the second price hike in less than a year, impacting households and businesses.
Based on figures currently listed on the ministry of external affairs web site, a large number of Indians reside across West Asia.
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
Prime Minister Narendra Modi will hold a video conference with chief ministers of most states to assess their preparedness and strategies in response to the ongoing conflict in West Asia.
Qatar Airways operated a Doha-New Delhi flight on Monday on which more than 300 Indian passengers stranded in Doha travelled to India, the Embassy of India in Doha, Qatar, said on its X handle.
Sonia Gandhi has criticised the Modi government's silence on the assassination of Iran's Supreme Leader, arguing it raises doubts about India's foreign policy direction and credibility.
The Indian government has convened an all-party meeting to discuss the ongoing crisis in West Asia, following Prime Minister Modi's address to Parliament on the situation and its potential impact on India.
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
Baghaei also alleged that recent unrest in Iran was fuelled by foreign interference, claiming riots were triggered by "very evident" interventionist remarks by US and Israeli officials.
The Indian government has addressed Parliament regarding a case of an Indian national seeking repatriation from Russia due to the situation in West Asia and the Gulf region. The government also responded to queries about Indian nationals denied entry to South Korea and seafarers detained in foreign countries.
When everyone has footage and no one can verify it, the loudest voice wins, notes Prem Panicker who begins a daily blog on the War in the Middle East.
Two Indian ships carrying liquified petroleum gas (LPG) from the Gulf countries crossed the Strait of Hormuz early on Saturday morning, raising the number of Indian vessels safely passing through the war-hit, narrow shipping lane to three.
When missiles fly in this region, they are never just aimed at military targets.
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.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
It is learnt that India was mulling various options relating to the project after Trump administration threatened a 25 per cent additional tariff on countries doing business with Tehran.
The Congress MP said he had been "troubled" by the US tariff regime from the very beginning, adding that India was already at a disadvantage compared to its regional competitors.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
Even as the benchmark and broader indices were down sharply on Monday due to escalating tensions in West Asia, the Nifty Defence index ended the session in the green.
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.
'If movement remains stalled for three to four months, more than 300,000 recruitments from India could be affected.'
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's foreign policy and his remarks referencing the COVID-19 pandemic in relation to the West Asia situation.
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
IndiGo airline will face near-term pressure on profitability from rising fuel prices following the escalation of conflict in West Asia, though it is likely to pass on higher costs to passengers over time because its ticket booking cycle is relatively short, according to a report by Moody's Ratings.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
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