The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
The Reserve Bank of India (RBI) net-bought $7.4 billion from the spot foreign exchange market in February, its highest buy since March 2025, before heavily intervening by selling dollars in March as the rupee declined over 4 per cent following a spike in crude oil prices.
Little over 1 million barrels were exported to India in February, 794,200 barrels were exported in March and none at all in January.
US President Donald Trump in an exclusive interview to Axios on Wednesday, said that he would continue to keep the naval blockade until Iran agrees to deal with the United States by addressing America's concerns about the nuclear programme.
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.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
The government has cut windfall profit tax on export of diesel and ATF to their lowest while also reducing the levy on domestically-produced crude in line with softening international oil prices, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been cut to Rs 4,350 per tonne from Rs 5,050 per tonne, the order dated February 15 said. Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel (ATF).
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
'Once the market decides it wants to go up, it goes up -- no amount of bad news can really hold it back.'
When missiles fly in this region, they are never just aimed at military targets.
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.
'Historically, India has depended on the Middle Eastern Gulf for nearly 90 per cent of its LPG imports. Shifting to alternative suppliers is not something that can happen quickly.'
The United Arab Emirates has announced its decision to withdraw from OPEC and the wider OPEC+ alliance, effective May 1, 2026, signalling a significant policy-driven evolution in its long-term energy strategy aimed at aligning with domestic economic goals and increased production investment.
The clock on the ceasefire is running out. But everyone's already whispering about round two, possibly as soon as this weekend.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
The United Arab Emirates has announced its decision to withdraw from OPEC and the wider OPEC+ alliance, effective May 1, 2026, signalling a significant policy-driven evolution in its long-term energy strategy aimed at aligning with domestic economic goals and increased production investment.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
There are enough people at the top decision-making level in Tehran who are still willing to negotiate, provided Trump can create the right setting for the negotiation to acquire a dynamic of its own, points out Ambassador M K Bhadrakumar.
'You set up your SIPs and you do not touch them. Not during COVID, not during a war scare, not when your neighbour tells you the market is finished. You let the noise pass over you.' 'The beauty of this approach is that it does not require courage or conviction in the moment. It just requires inertia -- keep the SIP running and do not look at your portfolio too often.'
India's merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal said on Tuesday. The uptick comes despite globa
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
Trump may strike. He may announce productive talks and extend again. He may do both at the same time. Iran will not open the Strait on someone else's terms, so no matter what happens, that problem will remain unsolved. And the IRGC will still be collecting its $2 million toll from every ship bold enough to ask permission to pass.
India's private sector activity saw a significant recovery in April, driven primarily by robust growth in manufacturing output and sales, following a three-year low in March attributed to the West Asia conflict.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
Around one full month of supply is firmly arranged with additional procurement being continuously finalised, and oil companies are successfully delivering over 5 million cylinders every day.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
State-owned Bharat Petroleum Corporation Ltd (BPCL) is willing to dilute a 30-40 per cent stake in its upcoming greenfield refinery in Andhra Pradesh, with Gulf energy major Saudi Aramco and upstream player Oil India Ltd (OIL) likely to join as partners, a senior BPCL executive said.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
India's fiscal deficit is projected to reach 4.5 per cent of GDP for the current fiscal year, exceeding the budgeted target, as the government's policy responses to the West Asia conflict are expected to strain public finances, according to research firm BMI.
Trump announced that India and the US agreed to a trade deal under which Washington will charge a reduced reciprocal tariff on Delhi, lowering it from 25 per cent to 18 per cent.
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.
China has called on Iran to reopen the Strait of Hormuz and expressed appreciation for Tehran's commitment not to develop nuclear weapons, a key demand of the US to end the conflict.
