India imported 11 million tonnes of crude oil from Iran in the fiscal year ending March 31, 2014, down from 13.14 million tonnes in the previous fiscal
For weeks, the war skirted the edge of catastrophe without tipping over. Missiles flew, there was much destruction, commanders were assassinated, cities across the Gulf and even in Israel struggled to absorb the shock. But one line held: Energy infrastructure, the arteries of the global economy, remained largely untouched. That is no longer true. Prem Panicker continues his must read daily blog on the Gulf War.
'Existing investors who have not acted so far may consider holding on to these funds with the understanding that the higher returns they expected from them may now take longer to materialise.'
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
A senior government official says the idea is to facilitate mutually beneficial ways to keep the supply going.
India is sending a shipment of diesel and petrol to Sri Lanka to help alleviate the country's energy crisis amidst regional instability.
From the Sensex pack, Sun Pharma, Eternal, Tata Motors, Bajaj Finance, IndusInd Bank and Bajaj Finserv were among the major laggards. In contrast, Tech Mahindra, Infosys, Asian Paints and Maruti were among the gainers.
The Indian rupee fell to a record low against the US dollar due to rising crude oil prices, foreign institutional investor selling, and weak domestic equity market sentiment.
Analysts predict continued volatility in Indian equity markets due to domestic macroeconomic data, F&O expiry, global developments including US tariff policies, and geopolitical tensions.
'...especially pressure on the rupee, the current account deficit, and foreign exchange outflows.' 'The key question over the next several months is whether the government can prevent external turbulence from feeding into domestic economic pessimism.'
He added that opposition parties were assured that their concerns regarding the impact of the West Asia situation on India and the safety of Indian citizens were addressed in detail.
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.
The Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
Disciplined investors who ignore short-term fear build significant long-term wealth, notes Ramalingam Kalirajan
Sensex and Nifty post steepest weekly loss in over a year, falling nearly 3 per cent.
The Indian government has implemented several measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability amidst the ongoing West Asia crisis, according to Minister of State for Finance Pankaj Chaudhary.
Indian stock market benchmarks Sensex and Nifty rebounded strongly after a two-day decline, driven by falling crude oil prices and positive global cues amid hopes of de-escalation in the Middle East.
'We need to give Pakistan something serious to think about on its eastern front -- that is the only way to actually help Afghanistan right now.'
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
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.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
'So far our production is not affected. But every day the situation prolongs, it does bring risks in terms of shipments getting delayed.'
AICC President Mallikarjun Kharge criticised Prime Minister Narendra Modi's relationship with US President Donald Trump, alleging that Modi is acting as Trump's 'slave' and jeopardising India's interests on trade, oil and foreign policy.
Indian stock market benchmark indices Sensex and Nifty experienced a significant decline, driven by escalating tensions in the Middle East and rising crude oil prices.
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.
US-Israel air attacks intensified on the seventh day of war, striking Tehran and other Iranian cities.
Sri Lanka has completed the post-mortem examination of Iranian sailors recovered from the frigate IRIS Dena, which allegedly sank after a US submarine attack. Eighty of the 84 bodies have been identified by survivors, and an opposition protest was held against military aggression against Iran.
Formula One has cancelled the Bahrain and Saudi Arabian Grands Prix scheduled for April due to escalating Middle East tensions, reducing the 2026 F1 calendar from 24 to 22 races.
Expanding the scope of hostilities, Zayed Port in Abu Dhabi, United Arab Emirates, was also targeted by missile strikes launched by Iran, according to a report by the Iranian state broadcaster, Press TV.
The threat of wars hovers over the negotiations in Oman, but the good part is that Trump called the talks to be 'very good' and Iran's President Masoud Pezeshkian responded that they 'constitute a step forward', points out Ambassador M K Bhadrakumar.
India has been looking at ways to switch from dollar as the US and EU have imposed sanctions on Iran's oil industry and financial institutions.
The US has sanctioned an Indian national based in the United Arab Emirates and two India-based entities for operating as part of Iran's shadow fleet and involved in shipping Iranian oil. The US Department of the Treasury said Jugwinder Singh Brar, who owns multiple shipping companies, operates as part of Iran's shadow fleet, which the US said is used to evade sanctions and transport Iranian oil. Brar also owns or controls India-based shipping company Global Tankers Private Limited and petrochemical sales company B and P Solutions Private Limited. The sanctions come as part of a US campaign of maximum pressure on Iran and target the country's petroleum and petrochemical sectors.
We know in our heart that speaking the truth on this stupid Iran war will anger Trump and so we look the other way because if we look him in the eye the bully will straighten us out, asserts Aakar Patel.
The Indian firms want to liquefy the gas and ship it to India in the form of liquefied natural gas. OVL, which holds 40 per cent interest and is the operator of the block, has also submitted a feasibility report for the one billion barrel oil discovery it made in 2006.
Financial year 2025-26 (FY26) saw a significant shift in corporate fundraising, with rights issues more than doubling to a multi-decade high of 51, raising 44,290 crore, while qualified institutional placements (QIPs) more than halved to 29 issues, mobilising 62,954 crore, driven by sharp equity market corrections and regulatory changes.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
The United Arab Emirates Ministry of Defence has announced that the air force and air defence forces have successfully intercepted a significant number of aerial threats following a large-scale Iranian attack that commenced on February 28.
Specifically, military experts are assessing if the 'Octopus' interceptor anti-drone system, produced in the UK to support Ukraine in countering Russian threats, could be repurposed to strengthen British protections against Iran's Shahed drones.
Israeli Ambassador Reuven Azar has stepped forward to quash rumours surrounding Prime Minister Benjamin Netanyahu's health, confirming he is alive and debunking claims of AI-generated deepfakes.
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.
