'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.'
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.
India will maintain multiple sources for crude oil purchases and diversify them to ensure stability in the supply chain with national interests remaining the "guiding factor" for the procurement, Foreign Secretary Vikram Misri said.
Moody's Ratings has reduced India's GDP growth forecast for 2026 to 6 per cent, citing subdued private consumption, capital formation, and industrial activity due to higher energy costs and global uncertainties.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
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.
Despite reporting a weaker-than-expected net loss of Rs 2,536 crore for Q4FY26, largely due to a significant non-cash forex loss, analysts remain optimistic about IndiGo's long-term prospects, citing strong demand trends, a favourable pricing outlook, and strategic cost-control measures.
The government has dismissed speculation of an imminent increase in petrol and diesel prices, assuring citizens that there are no plans for a hike despite rising crude oil costs.
After spending 31 months in Chennai's Puzhal prison, Ahmed Buhari is finally breathing free, as courts across the country quashed proceedings linked to his group company Coastal Energy.
The Kremlin states it has not received confirmation from India regarding a halt to Russian oil purchases, following claims made by former US President Donald Trump. Russia affirms its commitment to strengthening relations with India.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
Israel's Defence Minister Israel Katz has stated that Israel is prepared to escalate military action against Iran, pending approval from the United States. This comes as US President Donald Trump says he would not use nuclear weapons in any conflict with Iran, while also claiming the US has 'total control' over the Strait of Hormuz.
Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
External Affairs Minister S Jaishankar has emphasised India's commitment to safe maritime transit and condemned attacks on merchant shipping amidst the ongoing West Asia conflict and global energy market disruptions.
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.
Indian benchmark indices Sensex and Nifty experienced volatility due to conflicting developments in West Asia, including reports of the Strait of Hormuz closure, which led to a rebound in crude oil prices and heightened investor concerns about supply disruptions and inflation.
The ongoing conflict involving the United States, Israel, and Iran intensified sharply with attacks on critical energy infrastructure across the Gulf, even as US President Donald Trump said he had cautioned Israeli Prime Minister Benjamin Netanyahu against targeting Iran's key South Pars Gas Field.
According to the Pentagon, the vessels were targeted as part of efforts to prevent the deployment of naval mines in the strategically vital passage through which a significant portion of global crude oil shipments transits.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
China and Pakistan have jointly proposed a five-point peace plan to address the ongoing conflict in West Asia, focusing on de-escalation and safe passage through the Strait of Hormuz.
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 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.
Indian equities on Dalal Street saw volatility as global market trends and oil price hike impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Apr 23, 2026.
Tensions escalate between Iran and the US following an attack on an Iranian commercial vessel in the Sea of Oman, with both sides trading accusations over maritime security and ceasefire violations.
The Delhi government has announced a series of measures to conserve fuel, including work from home for government offices, increased use of public transport, and reduced fuel quotas for officers.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
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.
This sharp Iranian response came after a series of uncompromising remarks from the US president.
India's leading passenger vehicle manufacturers are significantly increasing investments and factory capacities, alongside planning major product launches for FY27, driven by strong confidence in sustained domestic demand growth despite global geopolitical tensions and supply chain risks.
The US-China rapprochement, however tenuous, is not without implications for India. Both China and Pakistan have become closer to the US, notes Ambassador T P Sreenivasan.
The ongoing West Asia conflict is expected to severely impact the supply of affordable housing in India, as rising input costs further erode already thin developer margins. Fluctuations in crude oil and gas prices, coupled with higher freight costs, are driving up prices of essential construction materials like cement and steel, making new projects increasingly unviable for developers.
Iran has reportedly allowed select "friendly nations" including India and Pakistan limited access to the Strait of Hormuz amid ongoing conflict, easing some energy supply concerns. Here's what the move means for global trade and oil routes.
'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.'
An Iranian tanker successfully bypassed the US Navy to deliver crude oil to the Asia-Pacific region, despite ongoing tensions and a US blockade.
A tanker carrying liquefied petroleum gas (LPG) for India has successfully navigated the Strait of Hormuz and is en route to Visakhapatnam, India, carrying enough cargo to meet half a day's requirement for the country.
Donald Trump has warned Iran to open the Strait of Hormuz within 48 hours or face military action, escalating tensions amid regional conflict and impacting global oil supplies.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
'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.'
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