India summoned the Iranian envoy after two Indian vessels had to reverse course in the Strait of Hormuz following an incident of firing by Iran's Revolutionary Guards.
India's trade with West Asia saw a significant decline of over 28% in April, marking the second consecutive month of contraction. This downturn is attributed to severe shipping disruptions stemming from the ongoing conflict involving the US, Israel, and Iran, particularly impacting the crucial Strait of Hormuz waterway.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
The American warship stopped the tanker "after it attempted to sail to an Iranian port," according to a statement released by CENTCOM.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
Indian benchmark indices Sensex and Nifty closed lower for the second consecutive day, driven by investor caution over conflicting geopolitical signals from West Asia and fresh foreign institutional investor (FII) outflows.
The clock on the ceasefire is running out. But everyone's already whispering about round two, possibly as soon as this weekend.
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.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
The Indian rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar, driven by retreating crude oil prices, signs of easing geopolitical friction, and likely central bank intervention.
Indian equity markets, including the Sensex and Nifty, experienced a significant downturn for the second consecutive day, driven by escalating geopolitical tensions in West Asia and persistent foreign fund outflows.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Congress leader Rahul Gandhi on Monday launched a scathing attack on Prime Minister Narendra Modi over the latest fuel hike, saying mehangai manav has struck again and he has just one job of making promises during elections and attacking people's pockets at other times.
Major paint companies in India, including Asian Paints, Berger Paints, Akzo Paints, and Kansai Nerolac, have announced price hikes ranging from 1% to 8% across various product lines, effective from mid-March to late April, in response to persistently high crude oil and gas prices.
A convoy of India-bound ships carrying crude oil and gas was stopped by the Iranian Revolutionary Guard Corps (IRGC) in the Strait of Hormuz, leading to several vessels returning to the Persian Gulf.
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
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.
The US Navy seized an Iranian-flagged cargo ship in the Gulf of Oman, escalating tensions as ceasefire talks face uncertainty. The incident raises concerns about the fragile ceasefire and the ongoing blockade of the Strait of Hormuz.
US President Donald Trump jokingly referred to the Strait of Hormuz as the 'Strait of Trump' while discussing ongoing negotiations with Iran, adding that Iran was under pressure and willing to negotiate.
The United States Central Command confirmed that the USS Rafael Peralta intercepted an Iranian-flagged ship, enforcing a maritime blockade against Iran. The US military is prepared to resume major combat operations if ordered by the President.
An Indian sailor died and several others were injured after their dhow caught fire near the Strait of Hormuz. Seventeen other Indian crew members were rescued.
The Indian rupee appreciated by 23 paise to settle at 92.91 against the US dollar, driven by a weakening American currency, retreating crude oil prices, and renewed foreign institutional investor (FII) inflows amid increasing hopes of easing geopolitical tensions.
Government sources indicate a potential increase in petrol and diesel prices due to rising global crude oil costs and losses incurred from a prolonged freeze on retail rates.
Indian benchmark equity indices, Sensex and Nifty, closed lower due to investor caution over rising bond yields, a weaker rupee, and fresh fuel price hikes, which have revived inflation concerns.
Kumar Mangalam Birla urged young people to 'build in India, build for India and build for the world'.
Petrol and diesel prices in India have been increased by Rs 3 per litre each, marking the first rate hike in over four years. This decision follows a period of stable prices during recent state elections, despite rising global crude oil prices and significant losses for fuel retailers.
Indian benchmark indices Sensex and Nifty closed higher, with the Sensex climbing 355.90 points, driven by positive state election results and better-than-expected Q4 earnings, despite ongoing geopolitical concerns.
The core issues to be settled -- access to Hormuz, Israel's aggression in Lebanon, the question of Iran's nuclear programme, sanctions relief and compensation -- are thorny enough to require weeks of patient negotiation. The most likely outcome of the opening sessions is that both sides take the measure of each other, establish what is and is not negotiable, and return home without having broken anything. That would count as progress.
The delegations from the US and Iran head to Islamabad on Friday, carrying a ceasefire that is already fraying, a Strait that is technically open and practically closed, and a negotiating agenda that would challenge even parties actually negotiating in good faith, which these groups are not. Prem Panicker continues his must read blog on the Iran War.
Indian benchmark equity indices, Sensex and Nifty, rebounded on Wednesday, recovering intraday losses, primarily driven by strong fag-end buying and a significant rally in blue-chip Reliance Industries.
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
Indian benchmark equity indices, Sensex and Nifty, snapped a three-day rally, tumbling nearly 1 per cent due to heavy selling in IT stocks, a jump in crude oil prices, foreign fund outflows, and fears of prolonged instability in West Asia.
The Reserve Bank of India (RBI) has debunked reports of gold sales, stating that its physical stock of gold remains unchanged at 880.52 tonnes, countering claims of selling approximately USD 12 billion to protect foreign-currency reserves.
The United States has clarified that its naval blockade in West Asia targets Iranian ports and coastline, not the Strait of Hormuz, applying to all ships regardless of nationality. US officials warned Iran against threatening commercial ships and hinted at ceasefire negotiations as an alternative.
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.
Indian benchmark indices, Sensex and Nifty, closed marginally higher after a volatile trading session, driven by value buying in IT and select blue-chip counters, despite global crude price hikes and a weak rupee.
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
China has denied any links to the Iranian cargo ship seized by the US in the Gulf, which allegedly contained chemical materials for manufacturing missiles. The denial follows allegations by former US envoy to the UN Nikki Haley, who claimed the ship was headed from China to Iran.
India's economy registered a robust 7.7 per cent growth in the fiscal year 2025-26, an increase from 7.1 per cent in the previous year, with the January-March quarter alone seeing a 7.8 per cent expansion.
