Passenger vehicle sales in India are estimated to have surged by nearly 25 per cent in June 2024, reaching approximately 4 lakh units, with Maruti Suzuki, Tata Motors PV, and Mahindra & Mahindra leading the growth, despite concerns over geopolitical tensions and monsoon impact.
An India-bound container vessel, the 'Epaminondes', was seized by Iran's Islamic Revolutionary Guard Corps in the Strait of Hormuz, with an Indian merchant navy officer from Rajasthan among the crew, his family reported. The family has appealed to the Indian government for assistance in ensuring the safe return of the crew.
The US has warned India that any violation of its naval blockade in the Strait of Hormuz and illicit transport of Iranian oil will not be tolerated, a statement made amidst a diplomatic row over the deaths of Indian seafarers in US attacks on commercial vessels off the coast of Oman.
Marine war-risk premiums for West Asian shipping routes, particularly the Red Sea corridor, have surged by as much as 200 per cent due to renewed geopolitical tensions, with some high-risk transits seeing increases of over 1,000 per cent, according to industry brokers.
Civil unrest in Iran has started impacting India's basmati rice exports to the country, leading to a sharp fall in domestic prices, as exporters face payment delays and mounting uncertainties, an industry body said on Tuesday. The Indian Rice Exporters Federation (IREF) urged exporters to reassess risks on Iranian contracts and adopt secured payment mechanisms, warning against over-leveraging inventories meant for the Iranian market.
The Ministry of External Affairs (MEA) has stated that India is closely monitoring developments in West Asia, addressing topics ranging from ceasefire efforts to maritime security and the safe return of Indian nationals. The MEA also addressed the UN Climate Change Conference and the delimitation bill.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
'India has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
24 Indian-flagged vessels with 677 Indian seafarers were currently located west of the Strait of Hormuz, and four vessels with 101 Indian seafarers were stationed east of the strategic waterway.
Indian equity benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global market rally and a drop in crude oil prices below USD 100 per barrel, driven by renewed hopes of diplomatic engagement between the US and Iran.
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.
The family of Suresh, a 44-year-old marine engineer from Visakhapatnam, is grieving after he was among three Indian crew members killed in a US military strike on a commercial vessel off the Oman coast, shattering their dreams of a family reunion for their 15th wedding anniversary.
Indian benchmark indices Sensex and Nifty rallied in early trade, driven by a positive trend in global markets, cooling crude oil prices following a US-Iran peace deal, and fresh foreign fund inflows.
Ayatollah Ali Khamenei was killed in US-Israeli strikes on February 28.
Indian benchmark equity indices, Sensex and Nifty, saw early gains driven by strong buying in blue-chip bank stocks, fresh foreign fund inflows, and a decline in global crude oil prices, boosting investor confidence.
'It's very important for India to retain its sovereignty. India should not sign any agreement which compromises its sovereignty.'
Prime Minister Narendra Modi has strongly condemned the attacks on the United Arab Emirates' port city of Fujairah, which resulted in injuries to three Indian nationals, and reiterated India's support for peaceful resolution through dialogue.
The representative of Iran's Supreme Leader in India expressed gratitude towards Indians, calling India a land of 'loyalty and humanity'.
The Indian rupee gained 2 paise to settle at 93.33 against the US dollar, driven by positive sentiment in domestic equity markets and renewed hopes for US-Iran talks, despite rising WPI and CPI inflation.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty50 and BSE Sensex performance and key global triggers.
Congress leader Rahul Gandhi has strongly criticised Prime Minister Narendra Modi for his silence on the deaths of three Indian seafarers in US military strikes on commercial vessels, calling Modi a 'compromised PM' who lacks the courage to confront those responsible.
Indian benchmark indices Sensex and Nifty rallied in early trade, driven by a significant decline in crude oil prices and positive developments on the geopolitical front, alongside strong performance in blue-chip IT stocks. Track Sensex, Nifty on July 2, 2026
Analysts predict that inflation data, the US Federal Reserve's interest rate decision, and crude oil price trends will be the primary factors influencing the movement of Indian stock markets. Geopolitical developments, particularly the US-Iran deal, and foreign investor activity will also play a crucial role.
Aviation stocks experienced a significant surge following the announcement of a two-week ceasefire between the US and Iran, which led to a sharp decline in crude oil prices. This development has positively impacted stock markets and the broader economic outlook for India.
'Buy on dips, buy on dips and sell on rise.'
'Despite the large number of missiles and drones we have already launched, we still possess reserves and missile cities whose doors have not yet been opened,' says Iran's Consul-General Saeid Reza Mosayeb Motlagh.
Maharashtra Congress leader Naseem Khan met with the representative of Iran's Supreme Leader in India to express condolences for the deaths of Ayatollah Khamenei, soldiers, and civilians in the West Asia conflict.
Three Indian nationals were injured in a drone attack on the Fujairah Petroleum Industries Zone (FOIZ) in the UAE. The UAE has condemned the attack, attributing it to Iran.
If the Iranian regime needs to be punished for promoting quasi-terrorist outfits like Hezbollah and Hamas, then what about Pakistan which has spent decades exporting terror around the world, killing thousands, particularly in Afghanistan and India? asks M R Narayan Swamy.
Indian stock market benchmark indices closed higher, driven by strong performance in blue-chip bank shares and a positive trend in global markets, with hopes of progress in US-Iran peace negotiations also contributing to optimism.
The question nobody seems to ask is why a democracy should be silent when many of its citizens are concerned about the way the US is deviating from its traditional ways of consultation, cooperation and collaboration and moving away from traditional allies, asks Ambassador T P Sreenivasan.
Indian benchmark stock indices, Sensex and Nifty, closed nearly 1 per cent lower following the collapse of US-Iran negotiations, which heightened concerns of a prolonged conflict in West Asia and drove crude oil prices sharply higher.
A new book has shed light on the viral clip of French President Emmanuel Macron's wife, Brigitte, smacking him, revealing the incident was reportedly triggered by her discovery of messages exchanged between the President and Iranian actress Golshifteh Farahani, who also has an interesting Indian connection.
Inflows into foreign currency non-resident (bank), or FCNR (B), deposits have significantly underperformed market expectations, leading to a more than 1 per cent depreciation of the rupee against the dollar this week. Analysts point to fading RBI support measures, tepid interest due to rising global bond yields, and narrowing interest rate spreads compared to 2013 as key challenges.
...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.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
The logic of war plus the gathering storms in US politics as the midterms loom large leave him with no real alternative but to negotiate, points out Ambassador M K Bhadrakumar.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
