US President Donald Trump is set to visit China for talks with President Xi Jinping on trade, global issues, and the Gulf war. The visit aims to address trade frictions and other key issues, with high expectations for progress.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
Indian defence stocks have seen an average year-on-year gain of 67 per cent, driven by renewed interest following 'Operation Sindoor' and a broader increase in global geopolitical tensions, with the combined market capitalisation of 18 firms increasing by approximately 2.3 trillion.
MEA spokesperson Randhir Jaiswal said India's energy decisions are guided by national interest.
Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
Iran has reimposed restrictions on the Strait of Hormuz, with its forces opening fire on a passing tanker and forcing at least two Indian vessels to reverse course, escalating tensions in the region and raising concerns over energy supplies.
Petrol diesel price today March 20, 2026: IOCL & HPCL hike premium petrol (XP95, Speed, Power) by 2/litre and industrial diesel by 22/litre. Regular petrol in Delhi 94.77, diesel 87.67 unchanged. Full city-wise rates inside.
Russian Foreign Minister Sergei Lavrov will visit Beijing to discuss the West Asia conflict, the Strait of Hormuz blockade, and bilateral relations with Chinese leaders.
Escalating geopolitical tensions in West Asia are beginning to disrupt India's automotive supply chain, leading to rising commodity prices, logistics bottlenecks, material shortages, and pressure on consumer demand, with two-wheeler makers already raising prices.
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.
Chinese Foreign Minister Wang Yi has urged Iran to guarantee freedom and safe passage through the Strait of Hormuz, a critical waterway for global oil trade, amid ongoing tensions with the US.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
Is the current rally telegraphing a durable peace plan in West Asia, boosted by United States (US) President Donald Trump's incoherent and contradictory posts on social media?
Delhi must now purge the delusional hopes of being a 'counterweight' to China in the US calculus, argues Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi has urged for restraint in the use of petro products due to the West Asia crisis, emphasising the need to save foreign exchange and reduce the impact of war. He also highlighted India's progress in solar power and ethanol blending, while assuring support to Telangana's development.
In a first, Indian oil public sector undertakings (PSUs) finalised a one-year contract to import around 2.2 million tonnes (mt) of liquefied petroleum gas (LPG) from the US. The LPG import deal comes at a time when negotiations for an India-US bilateral trade agreement (BTA) are gathering steam. Earlier in the month, US President Donald Trump had said Washington and New Delhi were "pretty close" to reaching a fair trade deal.
A major fire near the main unit of the newly built Rajasthan refinery of HPCL has postponed the inauguration by Prime Minister Narendra Modi. The fire, which broke out near the crude distillation unit, was doused in about two hours with no reported casualties.
Reliance Industries Ltd on Thursday said it has halted the use of Russian crude at its export-only refinery in Jamnagar, Gujarat, as the company moves to comply with European Union sanctions. Reliance is India's largest buyer of Russian oil, which it processes and turns into fuel, such as petrol and diesel, at its giant oil refining complex at Jamnagar.
India's merchandise exports experienced a slight decrease in February, while imports surged due to increased gold and silver purchases, leading to a widened trade deficit. The West Asia crisis is expected to further impact trade in the coming months.
The Indian government is actively developing a policy for flex-fuel vehicle adoption and aiming for 100 per cent ethanol blending in petrol to enhance energy self-reliance, particularly in light of supply disruptions from the West Asia conflict.
'...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.'
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.
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.
On World Hypertension Day, Dr Anup Taksande, clinical director-cardiology and cardiac interventions at KIMS Hospitals, Thane, explains why you must think twice before reaching out for that pack of chips, sugar-free cereals or instant noodles.
Tata Motors' MD and CEO, Girish Wagh, has identified rising diesel prices as the most significant threat to India's commercial vehicle (CV) industry recovery, despite the sector recently surpassing its pre-FY19 wholesale peak. Diesel costs account for 25-50% of a truck operator's total cost of ownership, making any increase a critical concern for fleet economics.
India's edible oil imports rose by 41 per cent to touch 5.47 lakh tonnes in June against 3.88 lakh tonnes a year-ago, according to figures released by the Solvent Extractors' Association of India.
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.
A prolonged supply shock can transmit to lower incomes, and dampen confidence and sentiment, warns Aditi Nayar, chief economist, head-research and outreach, ICRA.
United States President Donald Trump on Wednesday claimed that India will significantly reduce Russian oil imports by year-end, citing Prime Minister Narendra Modi's assurance.
India's EV ecosystem is growing, but remains too underdeveloped to cushion a major oil supply shock.
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 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.
In his first major national address since hostilities began, Trump said the ongoing military campaign, dubbed 'Operation Epic Fury', has delivered 'swift, decisive, overwhelming victories'.
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.
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
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.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
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