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 Reserve Bank of India (RBI) has projected a 6.9 per cent GDP growth for the current financial year, citing concerns over commodity prices and supply chain disruptions stemming from the West Asia crisis.
'We won not (only) because we were able to carry out long-range precision strikes.' 'That is, of course, one of the reasons but we had better situational awareness about what's happening than Pakistan.'
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.
US President Donald Trump on Thursday said that he has directed the country's Navy to take decisive action against any vessels attempting to lay mines in the strategically vital Strait of Hormuz amid escalating tension over the virtual control of the waterway between Tehran and Washington.
An India-flagged LPG tanker, Jag Vikram, has successfully crossed the Strait of Hormuz following a temporary ceasefire between the United States and Iran, marking a significant development for India's energy security.
External Affairs Minister S Jaishankar addresses the Indian Ocean Conference, expressing deep concern over the West Asia conflict and its economic repercussions on energy, trade, and food security. India calls for a swift return to peace and opposes targeting civilians and infrastructure.
India's economy is projected to maintain growth above 7 per cent in 2026-27 (FY27), supported by strong domestic consumption and investment, even as global growth faces risks from geopolitical tensions, according to industry body Assocham.
India's foreign secretary Vikram Misri on Thursday participated in a high-level meeting hosted by the United Kingdom on the evolving situation in West Asia, underlining concerns over maritime security, energy supply disruptions and the need for diplomatic de-escalation.
If Iran and Oman choose to charge a fee for rendering services to vessels using their territorial waters, so be it. The US is indulging in an irrationally self-destructive act, notes Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi has offered India's support to bring peace to West Asia during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Both countries signed agreements to strengthen strategic collaborations in energy and defence.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
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.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
The vessels are carrying around 92,600 metric tonnes of LPG and have 33 and 27 Indian seafarers onboard, respectively. Visuals showed Pine Gas crossing the critical chokepoint.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
Chinese President Xi Jinping has called for the Strait of Hormuz to remain open for normal passage of ships, describing it as an 'international waterway' amid rising tensions between the US and Iran.
Prime Minister Narendra Modi will chair a meeting with senior ministers to review the petroleum, power, and fertiliser sectors in light of the evolving situation in West Asia, focusing on ensuring uninterrupted supply and stable logistics.
Hundreds of Indian seafarers are stranded on vessels carrying crude oil, LPG, and LNG in the Persian Gulf due to the ongoing conflict in the Middle East, causing disruptions to India's energy supplies.
The report said ships must submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a designated corridor.
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.
Prime Minister Narendra Modi convened a meeting with senior ministers to assess the impact of the evolving situation in West Asia on India's crude oil, gas, petroleum, power, and fertiliser sectors, focusing on ensuring uninterrupted supply and stable logistics.
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.
The core issues to be settled -- access to Hormuz, Israel's aggression in Lebanon, the question of Iran's nuclear programme, sanctions relief and compensation -- are thorny enough to require weeks of patient negotiation. The most likely outcome of the opening sessions is that both sides take the measure of each other, establish what is and is not negotiable, and return home without having broken anything. That would count as progress.
Argentina has significantly increased its LPG exports to India to help mitigate shortages caused by the ongoing conflict in West Asia. This partnership is becoming increasingly important for India's energy security.
India has welcomed the ceasefire between the US and Iran, advocating for de-escalation, dialogue, and diplomacy to secure lasting peace in West Asia.
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
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.
Prime Minister Narendra Modi will chair a meeting with senior ministers to assess the petroleum, power, and fertiliser sectors in light of the ongoing situation in West Asia, focusing on ensuring uninterrupted supply and stable logistics.
Iran has strongly criticised US plans to impose a blockade on its ports, warning that maritime security across the Persian Gulf region would be jeopardised if its own security is threatened.
The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
A senior Iranian legislator has suggested that Tehran could further escalate pressure on its adversaries by targeting the Bab el-Mandeb Strait, raising concerns about global supply chain vulnerabilities.
Admiral Alireza Tangsiri was accused of leading efforts to disrupt maritime trade, including actions affecting the Strait of Hormuz.
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 escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
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.
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.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
Two more Indian-flagged LPG tankers have begun their journey from the Persian Gulf, navigating the Strait of Hormuz amidst regional conflict, following disruptions caused by recent tensions in the Middle East.
In view of the disruptive situations, the Central government has also announced a financial relief package of Rs 497 crores aimed at helping exporters affected by disruptions in West Asia.
