Prime Minister Narendra Modi addressed Parliament on the West Asia crisis, advocating for dialogue and diplomacy, ensuring the safety of Indians in the region, and addressing concerns about fuel and food security.
Tensions in West Asia have dramatically escalated as Israel launched targeted military operations against Iran, triggering widespread blasts across strategic cities, following earlier Iranian projectile attacks on Israel.
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.
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.
The question is whether the clocks allow enough time for two deeply mistrustful sides to get there, and whether the surface calm holds long enough for the paddling to produce something before the ceasefire ends on April 22, notes Prem Panicker in his must read blog on the Iran War.
US Special Envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi are reportedly heading to Switzerland for a new round of US-Iran negotiations, following a recently announced memorandum of understanding to end hostilities in West Asia and a ceasefire between Israel and Hezbollah.
An Indian national was killed in an attack on Kuwait International Airport, prompting the Indian Embassy to offer condolences and assistance. The attack, attributed to Iranian strikes, led to the suspension of air traffic and caused casualties and damage.
Iranian Foreign Minister Abbas Araghchi visited Pakistan for the second time in three days amid uncertainty surrounding potential peace talks with the US. The visit follows discussions in Oman regarding regional security and efforts to resolve the Iran-US conflict.
A top Iranian intelligence official was killed in an attack, with the Revolutionary Guard blaming the United States and Israel. The incident occurs amid escalating regional tensions, including IDF strikes on Hezbollah infrastructure and ongoing operations in Lebanon.
At least eight civilians have been reported killed, and 95 others have sustained injuries following United States-Israeli strikes, Iranian state media Press TV reported.
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
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.
Benchmark indices tumbled about 2 per cent on Friday, capping one of the most turbulent weeks for domestic equities as investors fretted that the West Asian conflict could drag on for weeks or even months.
The ministry of petroleum and natural gas on Friday reiterated that India has sufficient stock of crude oil, petrol and diesel, while ensuring an uninterrupted supply of LNG and LPG despite disruptions caused by the ongoing West Asia conflict.
"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.
Iranian President Masoud Pezeshkian stated that Iran is considering various paths to address regional tensions, including negotiations conducted with dignity and authority, while emphasising that military gains should be reinforced through diplomacy.
Foreign Portfolio Investors (FPIs) withdrew nearly Rs 33,000 crore from Indian equities in May, bringing the total outflow for 2026 to Rs 2.25 lakh crore, driven by weak earnings growth, rupee depreciation, and more attractive opportunities in other global markets.
The urgency for a resolution is underscored by the military situation, as joint operations by Israel and the US have consistently been "targeting Iran's missile systems, launch sites and other critical infrastructure" since the onset of the conflict.
The threat has raised concerns about possible asymmetric attacks outside the region. Iran has also stepped up attacks on energy infrastructure in Gulf countries.
Pakistan's Foreign Minister Ishaq Dar met with his counterparts from Egypt and Turkiye in Islamabad ahead of a quadrilateral summit, including Saudi Arabia, to discuss the ongoing conflict in West Asia and explore avenues for peace.
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 Iranian military has asserted that its forces successfully targeted and downed a US A-10 aircraft, according to a report by Al Jazeera.
Top commanders of the Indian Navy will discuss the implications of the West Asia crisis on India's energy security and review operational readiness at a three-day conference.
Indian stock markets experienced a second consecutive day of losses, with the Sensex tumbling 852 points, as crude oil prices surpassed USD 100 per barrel due to stalled US-Iran negotiations and escalating geopolitical tensions in West Asia.
Indian investors have seen their wealth erode by a staggering Rs 48.29 lakh crore since the West Asia war began on February 28, leading to a significant downturn in the BSE Sensex and NSE Nifty, driven by geopolitical tensions and rising crude oil prices.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
A disruption in the supply of LPG cylinders caused by tensions in the Strait of Hormuz is impacting Indian kitchens, leading to restaurant closures, price hikes and a surge in demand for electric cooktops.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu had a tense phone call over the future course of the war on Iran, with Washington favouring a deal instead of resuming strikes, according to US media reports.
'The flip side of this is that he won't hesitate to call out India if he thinks its policies are hurting US economic interests or border US foreign policy goals.'
Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
The embassy also said that the exit must be undertaken in coordination with the mission.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
US President Donald Trump has indefinitely extended the ceasefire with Iran at the request of Pakistan, aiming to allow Tehran's leadership time to form a unified proposal to end the seven-week war.
The Indian rupee saw a significant appreciation against the US dollar following President Trump's suspension of military strikes against Iran and the Reserve Bank of India's decision to maintain its key interest rate. Market sentiment was further buoyed by positive comments from the RBI regarding the health of the banking sector.
India is sending a shipment of diesel and petrol to Sri Lanka to help alleviate the country's energy crisis amidst regional instability.
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).
Analysts are revising down India Inc's financial year 2026-27 (FY27) earnings growth forecasts, citing persistently high crude oil prices above $100 a barrel due to the West Asia conflict, which is expected to dent corporate financial performance in the coming quarters.
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.
28 Indian vessels carrying 778 seafarers are stranded in the Persian Gulf, prompting government monitoring and coordination to ensure their safety and security.
US President Donald Trump expressed confidence in America's position amid US-Iran peace talks in Islamabad, stating that Washington stands to 'win' regardless of a deal.
