The Cabinet Committee on Security (CCS) has reviewed the evolving situation in West Asia, directing departments to assist Indian nationals affected by recent developments and emphasizing the need for dialogue and diplomacy.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
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.
Amidst global energy market volatility driven by the West Asia crisis, Russia has proposed increasing its crude oil and natural gas supplies to India, strengthening bilateral energy ties and aiming for USD 100 billion in annual trade by 2030.
The deployment could include infantry and armoured units, in addition to the 82nd Airborne Division, which is already stationed in the region.
India's exports experienced their steepest fall in five months, declining by 7.44 per cent in March to $38.92 billion, primarily due to trade uncertainty and geopolitical tensions, with shipments to West Asia contracting by over 50 per cent.
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.
Ongoing geopolitical tensions in West Asia have slowed deal momentum in Dubai's luxury residential market, but Indian high-net-worth individuals (HNIs) are not exiting their marquee assets, with any 'discounted' resale deals attributed to investor liquidity stress rather than geopolitical flight.
According to the report, the Pentagon is deploying the USS Tripoli ARG, along with the 31st Marine Expeditionary Unit (MEU), part of its own strike group.
The Ministry of External Affairs (MEA) reports that over 1,150 Indian nationals have been evacuated from Iran through land borders into Armenia and Azerbaijan since the start of the West Asia conflict. The MEA also confirmed that three Indians were injured in attacks in the UAE.
Prime Minister Narendra Modi spoke with Saudi Arabia's Crown Prince Mohammed bin Salman about the ongoing conflict in West Asia, emphasising the need to ensure freedom of navigation and secure shipping lanes.
Russian President Vladimir Putin is actively working to de-escalate the escalating crisis in the Gulf, engaging with regional leaders following Iran's retaliatory strikes on US facilities after joint US-Israeli strikes against Iran.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
There is no cause for concern, as the overall situation arising out of the crisis is firmly under control, the Centre informed while briefing political parties at the all-party meet.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
US Secretary of State Marco Rubio says relations between India and the US have not lost momentum and are set to strengthen, with hopes for a trade deal soon.
India has voiced deep concern over a drone attack targeting the Barakah nuclear facility in the United Arab Emirates (UAE), calling it a dangerous escalation in the West Asia conflict.
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.
The US-Israeli military campaign, dubbed "Operation Epic Fury" by Washington, has entered its third day, with US President Donald Trump stating that operations would continue "until all of our objectives are achieved."
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.
Indian benchmark equity indices Sensex and Nifty experienced a significant crash in early trade, triggered by a sharp increase in crude oil prices and escalating tensions in the Middle East.
The Iran conflict led to a sharp correction in Reliance Industries Ltd's (RIL's) share price, which has been partially reversed by a rebound.
Indian benchmark equity indices, Sensex and Nifty, opened higher, tracking positive global trends and easing crude oil prices, fueled by hopes of a swift resolution to the West Asia conflict. Track Nifty 50 and BSE Sensex performance and key global triggers.
Prime Minister Modi has urged citizens to adopt measures like judicious fuel use, postponing gold purchases, and deferring foreign travel to strengthen India's economy in the face of the West Asia conflict's adverse impact.
Iranian Foreign Minister Abbas Araghchi has urged Pakistan to use its diplomatic influence to help de-escalate the current regional situation and support efforts to maintain the ceasefire.
Two Indian nationals have been confirmed dead and one is missing following attacks on merchant vessels amidst the ongoing conflict in West Asia. The Indian government has reiterated its commitment to the welfare of its citizens in the Gulf region.
India's toll collection growth is projected to moderate to 5-7 per cent year-on-year in FY27, a 150-200 basis points reduction, primarily due to the economic impact of the West Asia conflict and a slowdown in commercial traffic, according to Crisil Ratings.
Navy Chief Admiral Dinesh K Tripathi revealed that the Indian Navy was on the verge of striking Pakistan during Operation Sindoor following the Pahalgam terror attack, but kinetic actions were stopped. He also discussed the impact of the West Asia conflict on maritime traffic.
India's foreign exchange reserves decreased by USD 10.288 billion to USD 688.058 billion during the week ending March 27, according to the Reserve Bank of India (RBI). This decline follows a previous decrease and comes after the reserves reached an all-time high in February.
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.
An India-flagged vessel carrying 15,400 tonnes of liquefied petroleum gas (LPG) successfully crossed the Strait of Hormuz and arrived at Jawaharlal Nehru Port Authority (JNPA), demonstrating the resilience of maritime operations amid geopolitical tensions in West Asia.
Nomura has increased its March 2027 target for the Nifty 50 to 25,900, driven by strong corporate earnings and attractive market valuations, even as risks from the West Asia conflict and high oil prices persist.
Indian stock markets are set to be influenced by developments in US-Iran negotiations, crude oil prices, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
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.
A vessel carrying 20,000 metric tonnes of Liquefied Petroleum Gas (LPG) arrived at Deendayal Port Authority in Kandla, Gujarat, after crossing the Strait of Hormuz amid the West Asia crisis.
India's state-run oil marketing companies (OMCs) are projected to incur under-recoveries of approximately Rs 80,000 crore on liquefied petroleum gas (LPG) sales in FY27 if current loss levels persist, according to rating agency Icra.
'With inflationary pressures now at elevated levels and the adverse cost environment persisting, the company has to pass on a portion of the increased costs to the market, while continuing to ensure that the impact on customers is kept to the minimum extent possible.'
Prime Minister Narendra Modi has strongly refuted a media report suggesting the government is considering levying a tax, cess, or surcharge on foreign travel, calling the news "totally false".
India's foreign exchange reserves increased by USD 2.362 billion to reach USD 703.308 billion for the week ending April 17, as reported by the Reserve Bank of India (RBI).
The BSE Sensex and the Nifty 50 declined around 4.5 per cent each since the start of the West Asia conflict.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances