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.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
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 should understand that we are not going to make the same mistakes with India that we made with China 20 years ago.'
The government has assured citizens that there is no need to panic book LPG cylinders, as uninterrupted supply to households is being ensured despite the ongoing conflict in West Asia.
The Ministry of External Affairs (MEA) has stated that Prime Minister Narendra Modi and External Affairs Minister S Jaishankar are actively engaged with world leaders to promote dialogue and diplomacy for peace in West Asia, while also ensuring the safety and well-being of the Indian community in the region.
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
Dozens of Indian-flagged ships and over a thousand seafarers are stranded in the Persian Gulf, Gulf of Oman, and surrounding areas due to the closure of the Strait of Hormuz amidst ongoing military actions involving the US, Israel, and Iran.
The US Embassy acknowledged the attack in a post on X, urging Americans to avoid the facility 'until further notice' and announcing that all appointments had been cancelled.
"The US President's statements are within the framework of efforts to reduce energy prices and gain time to implement his military plans," the ministry stated.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
India continues to face LPG supply challenges for the third consecutive week due to disruptions caused by the West Asia conflict, though panic buying is showing signs of easing. The government is prioritising domestic household supplies and encouraging alternative fuel sources.
Chaffing under public ridicule in the US as well as internationally for having 'lost' the war, Trump is under immense pressure to do something, cautions Ambassador M K Bhadrakumar.
Amidst escalating tensions in West Asia, India strongly condemns the recent attacks on energy infrastructure, warning of further destabilisation to the already uncertain global energy market.
The government has mandated that cooking gas LPG supply to households will be discontinued if consumers fail to switch to piped natural gas where such connectivity is available, under a new order aimed at accelerating gas network expansion and reducing reliance on a single fuel.
The finance ministry, in the explanatory memorandum to the Finance Bill 2008-09, proposes to withdraw the tax holiday which has been a window the petroleum ministry has been using to market the oil and gas exploration blocks under the New Exploration and Licensing Policy (Nelp) since 1999. The commitment to give a 7-year tax holiday to companies producing gas from Nelp blocks was finalised by the Union Cabinet after consultation with the finance ministry.
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
More arrests are likely in this case, being probed by the elite crime branch, in the next couple of days.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
The United Arab Emirates Ministry of Defence has announced that the air force and air defence forces have successfully intercepted a significant number of aerial threats following a large-scale Iranian attack that commenced on February 28.
A Thai cargo vessel was struck by missiles near the Strait of Hormuz, leaving three crew members missing and prompting a rescue operation by the Royal Navy of Oman.
Trump seems to have estimated that Ghalibaf is a pragmatic politician who is receptive to close relations with the US and is enthusiastic about fostering business and economic ties in particular, points out Ambassador M K Bhadrakumar.
The IRGC said the barrage targeted several US military facilities in the region, including bases at Sheikh Isa in Bahrain, Juffair in Bahrain, Ali al-Salem in Kuwait and Al Azraq in Jordan.
Iran's Islamic Revolutionary Guard Corps (IRGC) claims control of the Strait of Hormuz and reports striking a US destroyer, escalating tensions in the Middle East following retaliatory strikes between Iran, the US, and Israel.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
India has fully protected its sensitive sectors like dairy, rice, wheat, pulses, tea, genetically modified (GM) goods, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral free trade agreement, according to the Commerce Ministry.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
In a major setback to Trump's pivotal economic agenda for his second term, the US Supreme Court, in a 6-3 verdict written by Chief Justice John Roberts, ruled that the tariffs imposed by the president on nations around the world were illegal.
India said it is broad-basing and diversifying sourcing of petroleum product to meet market conditions.
India has stated it will wait for the outcome of the elections in Bangladesh and the resulting mandate before addressing any existing issues. The country also affirmed its support for free, fair, inclusive, and credible elections in Bangladesh.
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.
India responds to US President Trump's claim that PM Modi assured him of halting Russian oil imports, stating it is diversifying energy sources to meet market conditions and safeguard consumer interests.
As the sun sets in a riot of colours during the days of Ramzan, the call to prayer is heard and Indian streets are transformed into places of both faith and feasting.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
