The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
Maharashtra Chief Minister Devendra Fadnavis rode a motorcycle to work following Prime Minister Modi's appeal to cut down fuel consumption amid the ongoing conflict in West Asia.
The Madhya Pradesh government has formed a committee to monitor gas and oil supplies amid concerns over the West Asia crisis, assuring citizens that there are adequate stocks and no need to panic. The government is also working to ensure the safe return of Indian citizens from Gulf countries.
Prime Minister Narendra Modi has strongly condemned the attacks on the United Arab Emirates' port city of Fujairah, which resulted in injuries to three Indian nationals, and reiterated India's support for peaceful resolution through dialogue.
Congress leader Rahul Gandhi has warned of a severe economic crisis looming over India, criticising Prime Minister Narendra Modi's economic policies and foreign travels.
Overseas travel spending by Indians, including holiday trips, decreased by $212.43 million to $1.09 billion in March compared to February, according to the Reserve Bank of India's latest data.
'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.'
US Secretary of State Marco Rubio said that discussions aimed at halting the conflict with Iran have shown "some slight progress," while simultaneously echoing Washington's dissatisfaction with its NATO allies.
The rupee weakened to a record low against the US dollar due to Gulf tensions, rising oil prices, and foreign capital outflows.
MNS president Raj Thackeray questions the fuel consumption during recent election campaigns, asking if austerity measures are only meant for the common people.
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.
The rupee recovered to 95.18 against the US dollar after hitting an all-time intra-day low of 95.44. The recovery was supported by possible RBI intervention amid renewed Gulf tensions and rising crude oil prices.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's call for citizens to make economic sacrifices in response to the West Asia conflict, calling it 'evidence of failure'. Gandhi accused Modi of shifting responsibility onto the public and being incapable of running the country.
Amidst a sharp run-up in gold and silver prices, investors are advised to rebalance their portfolios by booking partial profits in precious metals and reallocating to domestic equities and debt, according to financial experts.
Iranian Foreign Minister Seyyed Abbas Araghchi stated that the Strait of Hormuz remains open to all commercial vessels, requiring ships to coordinate with Iranian naval forces due to regional tensions and a US blockade.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
'At the first sign of real trouble, that money will move. There will be a run.'
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
US President Donald Trump has rejected Iran's proposal to end the ongoing war, deeming it 'totally unacceptable'. This decision comes amid efforts to negotiate an end to hostilities that began on February 28 and have disrupted global oil supplies.
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.
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
'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.'
Iran has placed anti-personnel and anti-armour mines around the island, where US troops could potentially stage an amphibious landing.
'No one can or will bar India from pursuing its energy goals as it wishes.' 'The US FTA wording may sound more restrictive, but the underlying reality will not undermine India's sovereign energy decisions.'
The Confederation of Indian Industry (CII) has urged the Indian government to gradually restore the Rs 10-per-litre cut in special additional excise duty on petrol and diesel over six to nine months. This move aims to relieve pressure on government finances as crude oil prices stabilise, without significantly impacting consumer sentiment.
The proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
Jewellers in Lucknow protest Prime Minister Modi's appeal to defer gold purchases for a year amid the West Asia crisis, fearing significant business losses and economic hardship for those involved in the trade.
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.
Lavrov's comments came two days after Russia accused the US of attempting to prevent India and other countries from buying Russian oil, saying Washington was using a wide range of 'coercive' measures, including tariffs, sanctions and direct prohibitions.
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.
US President Donald Trump received a red carpet welcome in Beijing for talks with Chinese President Xi Jinping on trade, the Iran war, and other key issues. The visit underscores the importance both nations place on their relationship amid ongoing tensions.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
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.
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.
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.
India and New Zealand have signed a comprehensive Free Trade Agreement (FTA) aimed at significantly boosting bilateral commerce and investments, providing duty-free access for 100 per cent of India's exports to New Zealand and securing duty-free inputs for India's manufacturing sector.
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?
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