The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
India and the United States are committed to finalising an interim trade agreement, despite recent challenges including the US imposing a blanket 10 per cent surcharge and India's decision to wait for a new global tariff architecture. The US Trade Representative's annual report highlights India's maintained high import tariffs and various non-tariff barriers across several sectors.
Oilseed output to surpass its previous record of 32.75 mt in 2013-14 to 33.59 mt this year
Donald Trump claims the US military decimated Iran's Navy and Air Force, hinting at regime change while Iran accuses the US and Israel of planning a ground invasion.
The measures announced by it risk backfiring, disrupting the foreign exchange market, and intensifying the very pressures they seek to contain, with broader consequences for the economy points out Rajeswari Sengupta.
Despite outward displays of cordiality, a formal visit by King Charles III to the US revealed underlying tensions between the leaders, highlighted by subtle rebukes and contrasting views on key issues.
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.
The Iranian Foreign Ministry has stated that Tehran currently has no plans for a subsequent round of negotiations with the United States, according to the state media Tasnim news agency. This announcement comes as international mediators had hoped for a follow-up to the Islamabad talks before the looming ceasefire deadline.
The price of petrol breached a three-year high on Monday at Rs 74.50 a litre, while the price of diesel was at its highest at Rs 65.75 a litre
India plans to further cut imports from Iran by 13 per cent next fiscal even though easing of US and western sanctions has made buying crude oil from the Persian Gulf nation easier.
Gold prices experienced a significant drop in futures trading due to global selloff, inflation concerns, and a strong US dollar. Analysts predict a continued downward trend amid geopolitical tensions and potential rate hikes.
US President Donald Trump threatened to bomb Iran if a deal is not reached before the ceasefire ends, while Pakistan urged both sides to extend the truce and pursue diplomacy.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
India could save $1 billion in crude oil imports annually if the country switches 10 per cent of its diesel usage in the transport sector to liquefied natural gas.
His assertion came after Trump claimed that his "friend" PM Modi has assured him that India would stop purchasing oil from Russia, a move he described as a big step toward increasing pressure on Moscow over its invasion of Ukraine.
A simple routine of cleansing, moisturising and sunscreen is more effective than piling up products, advises Dr Rupika Singh, dermatologist and founder of Akiya Aesthetics.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
S&P Global Ratings has increased India's GDP growth forecast for the next fiscal year to 7.1 per cent, citing private consumption, investment, and exports as key drivers. However, the agency also cautioned that the conflict in the Middle East could strain India's fiscal position due to higher energy prices.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
External Affairs Minister S Jaishankar defends India's purchase of Russian oil, stating it is not the largest purchaser and that the US had previously supported such actions to stabilize energy markets. He also addresses concerns about tariffs and trade relations with the US.
10 stocks from the Nifty 200 index that offer good growth potential and scope to deliver decent returns from current levels, based on brokerage estimates.
Although extensive air attacks have been carried out to destroy most of Iran's defence capabilities, the latter's resilience and sustenance during the war clearly indicate that the US landing force would encounter severe resistance in the operation, explains Commodore Venugopal Vengalil (retd).
Delhi Police have arrested a 33-year-old man for allegedly manufacturing and storing counterfeit automobile parts and packaging materials in a godown in west Delhi.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
The Reserve Bank of India (RBI) Governor Sanjay Malhotra is now confronting the classic growth-inflation tradeoff, a situation exacerbated by the West Asia war, which threatens to end the 'goldilocks period' of low inflation and robust growth.
Responding to the questions from Congressmen, Assistant Secretary of State for South and Central Asia, Robert Blake said India is making progress in this regard not because of any pressure from the US, but because of "financial and commercial considerations".
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
The Iranian Embassy in South Africa has launched a biting social media attack on US President Donald Trump, using a viral maritime audio clip to label him an "idiot".
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
Prime Minister Narendra Modi and US President Donald Trump discussed the West Asia crisis and the importance of keeping the Strait of Hormuz open and secure. They also reviewed progress in bilateral ties and anticipated upcoming deals in the energy sector.
According to the report, the Pentagon is deploying the USS Tripoli ARG, along with the 31st Marine Expeditionary Unit (MEU), part of its own strike group.
Iran has blamed the US for disruptions in oil and gas shipping through the Strait of Hormuz, citing 'destabilising actions' as the cause amid the ongoing West Asia conflict and rising energy prices.
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
Two days after Russian President Vladimir Putin concluded his visit to India, during which he assured that Moscow would remain a reliable energy supplier, the Kremlin on Monday said that India, as a sovereign nation, is free to buy oil from sources it deems beneficial. It expressed confidence that New Delhi will continue to prioritise its economic interests.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
The United States, which entered this war in expectation of a short, sharp win along the Venezuela model, is now preparing for deeper involvement in a conflict it does not fully control, without the allies it typically relies on, against an adversary that is not behaving as expected, in a global environment that is already absorbing economic shock. Prem Panicker continues his must read daily blog on the Gulf War.
India's merchandise trade deficit widened to a record $41.68 billion in October, as gold imports trebled and outbound shipments registered their sharpest contraction in 14 months, according to data released by the commerce department.
The ceasefire is still technically holding, to the extent that no overt hostilities have been reported yet, but the rhetoric has hardened dangerously. The week ahead will also clarify whether the Islamabad failure was a negotiating tactic or whether Washington has genuinely locked itself into a position from which the only exits are climb-down, escalation, or the slow bleed of a new status quo that nobody chose and nobody controls. Prem Panicker continues his must read blog on the Iran War.
