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).
India has advised its nationals to postpone travel to Iran and urged those already there to consider leaving due to increasing instability and conflict in the region. The advisory from the Indian Embassy in Tehran highlights heightened caution and the need to monitor the security situation.
'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 will review the impact of the West Asia conflict on India's food, energy, and fuel security with senior cabinet ministers. The meeting follows previous discussions and concerns raised about global energy crises and supply chain disruptions.
Since the outbreak of conflict in the Middle East, 16 Indian nationals, including 10 seafarers, have lost their lives, and 75 have been injured. Separately, 30 Indian nationals were among 52 individuals arrested and deported by US Border Patrol during 'Operation Checkmate' for allegedly being in the United States illegally.
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".
The Reserve Bank of India (RBI) has maintained its benchmark policy rate at 5.25 per cent for the fourth consecutive meeting, prioritising clarity on inflation trends, particularly concerning energy costs and geopolitical developments.
The Ministry of External Affairs has confirmed that nearly 880 Indian nationals, including students, have been evacuated from Iran via Armenia and Azerbaijan due to the ongoing conflict in West Asia.
The Reserve Bank of India has marginally increased its GDP forecast for the current fiscal to 6.7 per cent while slightly lowering the inflation projection to 5 per cent. The central bank noted that while domestic economic activity shows resilience, global turbulence, particularly re-escalating conflicts and volatile oil prices, continues to pose risks to the inflation outlook.
The threat has raised concerns about possible asymmetric attacks outside the region. Iran has also stepped up attacks on energy infrastructure in Gulf countries.
The Reserve Bank of India's Financial Stability Report indicates that the interim peace deal between the US and Iran has favourably shifted the balance of risks, reducing headwinds from the West Asia conflict. However, it cautions that exchange rate volatility could increase if crude oil prices spike due to delayed normalisation of supply chain disruptions.
The Ministry of External Affairs (MEA) has facilitated the safe passage of over 1,700 Indian nationals from Iran through Armenia and Azerbaijan since the beginning of the West Asia conflict.
Pakistan, Saudi Arabia and Turkiye on Friday signed a key joint defence agreement under which an attack against one of them will be treated as an attack against all of them, amid increasing security concerns in the wake of escalating tensions in West Asia.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
Indian stock markets are poised for volatility this week, driven primarily by the outcomes of five state assembly elections, ongoing high crude oil prices amid West Asia tensions, and the release of Q4 corporate earnings, according to market analysts.
The World Bank has increased India's economic growth projection for FY27 to 6.6 per cent, citing resilient domestic demand, while simultaneously cutting its global economic growth outlook due to the conflict in West Asia.
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.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trade due to a significant surge in crude oil prices, exacerbated by escalating tensions in the West Asia. Track how Sensex, Nifty fared on July 23.
Dr Reddy's Laboratories reported a 68.7 per cent year-on-year decline in consolidated net profit to Rs 443.5 crore in Q1 FY27, primarily due to the end of its lenalidomide sales agreement, a Rs 240-crore provision for semaglutide API inventory quality issues, and elevated freight costs.
BJP leader Mithun Chakraborty has criticised the West Bengal government over high fuel taxes and alleged security lapses, particularly concerning women's safety and border control.
Pakistan's Interior Minister Mohsin Naqvi has been in Tehran meeting with Iranian officials in an attempt to mediate and resolve the ongoing conflict between the US and Iran. This marks Naqvi's second visit in less than a week as Pakistan seeks to bridge the differences between the two nations and establish long-term stability in the region.
India has expressed strong concern over the targeting of commercial shipping in the Strait of Hormuz during the West Asia conflict, urging for the restoration of unimpeded navigation and global commerce.
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.
India's sugar consumption is projected to fall by nearly 400,000 tonnes in the 2025-26 season, primarily due to the ongoing liquefied petroleum gas (LPG) shortage exacerbated by the West Asia conflict and unseasonably cool weather.
'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.'
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
Prime Minister Narendra Modi has called for a swift end to the conflicts in West Asia and Ukraine, emphasising the importance of dialogue and diplomacy. He made the remarks after talks with Finnish President Alexander Stubb, where they also agreed to a strategic partnership in digitalisation and sustainability.
A proposed deal between Iran and Oman could grant Tehran control over vessels entering the Gulf through the Strait of Hormuz, according to a senior Iranian source and two regional officials who spoke to Reuters on Wednesday, in what represents one of the most significant concessions made to Iran to date.
Air India, IndiGo, and Air India Express are temporarily reducing their domestic flights due to surging jet fuel prices and lower travel demand. The airlines are cutting flights by 10 to 22 per cent in the coming months.
Opposition parties are demanding a full Parliament discussion on the West Asia conflict, criticising the government's silence and calling for a contingency plan to protect India's energy security and citizens.
FPIs have already withdrawn Rs 2.6 trillion from Indian equities in 2026, exceeding the outflows recorded in any previous full calendar year.
Uncertainty stemming from the US-Iran conflict has significantly impacted India's mutual fund industry, leading to a sharp decline in new fund offers (NFOs) in March, despite numerous regulatory approvals. This geopolitical tension, coupled with existing market strain and distributor hesitation, has dampened investor sentiment and affected overall inflows.
Fast-moving consumer goods (FMCG) companies are closely monitoring crude oil prices and considering low single-digit price increases, while consumer durables firms have already begun passing on significant price hikes to consumers due to rising input costs exacerbated by the West Asia conflict.
Prime Minister Narendra Modi spoke with leaders from Oman, Kuwait, and Qatar, expressing concern over attacks in West Asia and discussing the safety of the Indian community.
Indian benchmark indices Sensex and Nifty climbed in early trade, driven by buying in blue-chip stocks like Reliance Industries and ICICI Bank, alongside a notable cooling in crude oil prices.
Airfares to Southeast Asia have surged 25 to 30 per cent, driven by high demand and limited airline seat capacity.
Seven Indian-flagged vessels, carrying 148 seafarers, are currently in the Persian Gulf region amidst escalating military tensions between the US and Iran. An Indian crew member was killed in a recent attack on a merchant ship, raising concerns about maritime safety and the fragile US-Iran peace deal.
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.
J D Vance heads to Islamabad for high-stakes US-Iran talks, balancing cautious optimism with a warning against bad faith. negotiations.
US Secretary of State Marco Rubio on Tuesday said the United States would prefer to end its extension of waivers on Russian oil "as soon as possible", while noting that such decisions ultimately rest with the US Treasury Department.
