India's services sector growth reached a five-month high in April, with the HSBC India Services PMI Business Activity Index rising to 58.8, primarily driven by robust domestic demand and a shift from international to local suppliers amidst the West Asia crisis.
Russia has expressed strong concern over a US-Israeli strike on the Iranian port of Bandar Anzali, a key transit hub on the INSTC, warning of the risk of drawing Caspian states into the ongoing conflict.
China's Foreign Ministry has refuted allegations of providing military support to Iran, warning the US against imposing tariffs based on these accusations. The statement follows reports of Iran acquiring a Chinese satellite for targeting US military bases. Meanwhile, a rescheduled meeting between Presidents Trump and Xi Jinping is set for May.
'Actual implementation of the 14-point agreement is proving hard to achieve let alone striking and sustaining a long-term treaty or deal.'
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
US Special Representative Sergio Gor met with Sri Lankan President Anura Kumara Dissanayake to discuss strengthening bilateral relations and Sri Lanka's stance on the Middle East crisis. The visit occurs amidst regional tensions and US efforts to secure trade routes in the Indo-Pacific.
India's manufacturing sector growth slowed to a four-year low in March, impacted by cost pressures, competition, market uncertainty, and the Middle East conflict, according to the HSBC India Manufacturing PMI.
On Monday, March 9, Mojtaba Khamenei was appointed Iran's new supreme leader, succeeding his father Ayatollah Ali Khamenei.
Pakistan Prime Minister Shehbaz Sharif clarified that the recent Memorandum of Understanding (MoU) signed between the US and Iran does not include provisions regarding Tehran's ballistic missile programme. This statement followed talks with Iranian President Masoud Pezeshkian, with Sharif emphasising Iran's right to its defence capabilities and Pakistan's role as a mediator in the US-Iran peace process.
Pakistan's Foreign Minister Ishaq Dar has called for dialogue to address the ongoing conflict in West Asia, emphasising the importance of diplomatic engagement and sustained efforts to promote peace and stability in the region.
Precious metal prices, particularly gold and silver, experienced a significant surge in the national capital as investors sought safe-haven assets amid escalating hostilities in the Middle East.
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
Indian parents express growing anxiety and fear for the safety of their children studying in Iran, as the conflict between Iran and Israel escalates. They are appealing to the Indian government for immediate evacuation.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
Much will depend on how the protagonists use the current interlude to work proactively for the beginning of a durable settlement or, on the contrary, prepare for a new round of escalation, points out Ambassador M K Bhadrakumar.
Top leaders from the US, Iran, and Pakistan, along with other nations, have gathered in Switzerland for high-level talks aimed at restoring peace in West Asia. These negotiations follow a recently signed Memorandum of Understanding between the US and Iran, initiating a 60-day window for a deal. Discussions focus on Iran's nuclear programme and the fragile interim peace deal, amidst renewed tensions and the fluctuating status of the Strait of Hormuz.
Moody's Analytics predicts India will remain the fastest-growing major economy in 2026 and 2027, but its pace will moderate due to a global slowdown, geopolitical risks, and financial market volatility, despite the boost from AI demand.
Pakistan's Prime Minister Shehbaz Sharif has offered to host talks between the US and Iran to help resolve the ongoing conflict in the Middle East, following reports of Pakistan's involvement in backchannel diplomacy.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trade due to a significant surge in crude oil prices, exacerbated by escalating tensions in the West Asia. Track how Sensex, Nifty fared on July 23.
India's manufacturing sector experienced a moderation in growth during June, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to 54.2 from 55.0 in May. This slowdown is attributed to softer increases in new business orders and international sales, leading to reduced expansions in buying levels, employment, and output.
China has denied reports of finalising a deal with Iran to sell CM-302 supersonic anti-ship missiles, amidst rising tensions in the Middle East and joint US-Israeli airstrikes.
Despite calls for his ouster after the Test series defeat against Bangladesh, Pakistan skipper Shan Masood wants to continue leading the national side in the near future, sources in the PCB indicated.
The harsh truth is that the US is no longer a reliable partner, cautions Ramesh Menon.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
Reliance Industries' digital arm, Jio Platforms, may see its initial public offering (IPO) delayed to the second half of fiscal 2027, according to CreditSights. The delay is primarily attributed to ongoing geopolitical tensions in the Middle East, which could impact market conditions and investor sentiment.
External Affairs Minister S Jaishankar has strongly defended India's decision to purchase Russian crude oil, stating that the country's energy choices are based on cost and availability, and highlighting the West's 'hypocrisy' in criticising India while historically supplying weapons used against it.
Analysts predict that developments in West Asia and their impact on crude oil prices will heavily influence investor sentiment in the upcoming week. Global market trends, foreign investor activity, and rupee-dollar movement will also play a role.
The United States has launched a fresh wave of precision strikes, hitting approximately 90 Iranian military targets deep inside Iran, further intensifying a rapidly expanding regional conflict, with Tehran warning of severe retaliation.
A sensational New York Times report alleging that Israel's Mossad secretly groomed former Iranian president Mahmoud Ahmadinejad to lead a post-Islamic Republic Iran is being scrutinised for its strategic timing amidst Iran's sensitive post-Khamenei transition.
'We may be able to wind back some of the schedule reductions we'd taken in recent months.'
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.
Dozens of US planes carrying ammunition landed in Tel Aviv, raising concerns about potential strikes on Iran. Negotiations between the US and Iran remain deadlocked over key issues, with both sides issuing fresh demands and warnings.
India is navigating a complex diplomatic landscape, attempting to balance its 'forever honeymoon' with the Israel-UAE-Bahrain axis against its historical ties with Iran, as evidenced by recent high-level visits and evolving geopolitical realignments in the Middle East, observes Ambassador M K Bhadrakumar.
A recently finalised peace deal between the US and Iran, set to be signed on June 19, is expected to significantly benefit India's economy by boosting exports to West Asia, stabilising the rupee, and easing inflationary pressures, according to exporters and experts.
Shiromani Akali Dal president Sukhbir Singh Badal and Punjab Vidhan Sabha Speaker Kultar Singh Sandhwan have appealed to Prime Minister Narendra Modi to take urgent steps for the evacuation of Indian citizens stuck in countries affected by the recent joint Israel-US attack on Iran.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
J D Vance heads to Islamabad for high-stakes US-Iran talks, balancing cautious optimism with a warning against bad faith. negotiations.
The International Monetary Fund (IMF) has reduced India's growth forecast for FY27 to 6.4 per cent, citing the potential impact of higher energy prices offsetting the country's economic resilience. Despite this, India remains among the fastest-growing major economies.
Iran has put forward a comprehensive 10-point framework that it says forms the basis of a complete resolution.
