US President Donald Trump said the United States faces a stark choice in its approach to Iran, either to pursue a negotiated settlement or escalate militarily, as tensions continue to rise in the West Asia region.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
Due to airspace restrictions resulting from the conflict in the Middle East, Indian domestic carriers have cancelled 278 international flights. Some airlines are operating limited services and special flights to assist stranded passengers.
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.
Iran has submitted its latest proposal aimed at advancing negotiations to end the ongoing West Asia conflict with the US, days after the Islamic Republic submitted a fresh proposal through regional intermediaries to cease its military operations in the Strait of Hormuz, which is likely to get rejected by Washington.
Defence Minister Rajnath Singh assures India's energy security amidst West Asia tensions, highlighting naval protection of tankers and readiness to counter cross-border terrorism.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that preventing second-round effects of supply shocks, where inflation expectations rise due to prolonged disruptions, is the primary role of monetary policy. He also defended the RBI's foreign exchange market interventions, asserting it did not commit to an 'indefensible peg'.
Foreign Ministers from Pakistan, Saudi Arabia, Turkiye, and Egypt convened in Antalya to explore avenues for enhanced cooperation across various sectors of mutual interest, reaffirming their commitment to regional peace and stability.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
The West Indies and South Africa cricket teams are scheduled to leave India after being stranded due to travel restrictions caused by the Middle East conflict following their T20 World Cup campaigns.
New completions in India's office real estate sector fell by 36 per cent to 9.7 million square feet in Q1 2026, the lowest in four quarters, primarily due to developers adopting a cautious stance amid global uncertainties, particularly in Bengaluru, Hyderabad, and Mumbai. Despite this, office absorption increased by 20 per cent, indicating strong occupier demand.
Domestic LPG and commercial cylinder prices in India have seen a significant increase, driven by rising global energy costs linked to the conflict in West Asia. This marks the second price hike in less than a year, impacting households and businesses.
An Indian national has reportedly been killed in an attack carried out by Iran using a 'suicide' boat against a US-owned oil tanker near Iraq. The incident has raised concerns about the safety of seafarers in the region.
Hezbollah is upset that the IDF exposed their plans to massacre Israelis, so they decided to target innocent civilians by firing a barrage of rockets, the IDF further said.
Analysts predict that the ongoing conflict in West Asia, crude oil prices, and global trends will significantly influence the Indian stock market in the upcoming holiday-shortened week. Foreign investor activity and rupee movement will also be crucial.
The representative of Iran's Supreme Leader in India expressed gratitude towards Indians, calling India a land of 'loyalty and humanity'.
The US and Iranian delegations left Pakistan after failing to reach an agreement in historic talks aimed at resolving the West Asia conflict and stabilising global energy markets.
The measures announced by it risk backfiring, disrupting the foreign exchange market, and intensifying the very pressures they seek to contain, with broader consequences for the economy points out Rajeswari Sengupta.
Chinese foreign ministry spokesperson Mao Ning said that the country believes that dialogue and negotiation are the only viable solutions to resolving disputes and that the continued escalation of the conflict serves no one's interests.
Amidst escalating tensions in West Asia, Russian President Vladimir Putin is actively calling for de-escalation and political resolution, engaging with Iranian and US counterparts to navigate the complex conflict landscape.
The Board of Control for Cricket in India (BCCI) today announced the schedule for the first phase of the Indian Premier League (IPL) 2026, to be played from March 28 to April 12, 2026.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 19,837 crore from Indian equities in the first two trading sessions of April, extending a significant selling trend from March, driven by geopolitical uncertainty, rising crude oil prices, and a depreciating rupee.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's foreign policy and his remarks referencing the COVID-19 pandemic in relation to the West Asia situation.
'FPIs are unlikely to return unless there is equilibrium between valuation premium and earnings growth.'
The Reserve Bank of India (RBI) has opted to keep its key interest rates unchanged at 5.25%, anticipating a global economic recovery following a ceasefire in the US/Israel-Iran conflict, despite ongoing inflationary pressures and currency fluctuations.
India has welcomed the ceasefire between the US and Iran, advocating for de-escalation, dialogue, and diplomacy to secure lasting peace in West Asia.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
Iran has reiterated that key preconditions must be met before negotiations with the United States can begin to resolve the conflict in West Asia, including a ceasefire in Lebanon and the release of blocked Iranian assets.
Both Houses of Parliament were adjourned sine die, concluding a Budget session marked by the passage of key legislations and the defeat of a Constitution amendment bill on women's reservation. The session saw frequent opposition protests and discussions on various issues, including the West Asia conflict.
India has voiced its deep concern over reports of increasing civilian casualties in Lebanon due to Israeli strikes, emphasising the protection of civilians and the importance of international law.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
Iran's claim comes after United States President Donald Trump confirmed that the military rescued the second F-15 crew member, who had gone missing after Iran downed the jet amid the West Asia conflict.
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
Indian Grandmaster Koneru Humpy is uncertain about competing in the Candidates Tournament in Cyprus due to safety concerns amid the West Asia conflict, despite assurances from FIDE.
Former Maldives President Mohamed Nasheed advocates for building democratic institutions over military intervention in resolving international conflicts, particularly in the context of the escalating West Asia crisis. He also discusses the impact of the conflict on the Maldives' tourism-dependent economy and calls for a stronger, more understanding India in the Indian Ocean Region.
India's foreign exchange reserves saw a significant drop of USD 7.794 billion, settling at USD 690.693 billion for the week ending May 1, as reported by the RBI, reflecting the impact of global events and central bank interventions.
"The world might face a food crisis if the war continued till the end of April, as it could have a dramatic impact on planting in Europe and North America," said Matt Simpson, CEO of Brazil Potash.
Indian stock market benchmarks Sensex and Nifty rebounded strongly after a two-day decline, driven by falling crude oil prices and positive global cues amid hopes of de-escalation in the Middle East.
Several residents of Amethi, Uttar Pradesh, including students, are stranded in Iran due to ongoing joint strikes by the United States and Israel, prompting calls for government assistance.
The Indian rupee depreciated significantly against the US dollar, reaching a new all-time low due to rising oil prices, a strong dollar, and ongoing geopolitical concerns. Domestic equity market declines and foreign investment outflows further contributed to the rupee's weakness.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances