Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
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.
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.
ICICI Bank reported a 9.28 per cent increase in its consolidated net profit to Rs 14,755 crore for the March quarter of FY26, primarily driven by a nearly 90 per cent reduction in provisioning. The bank's executive director, Sandeep Batra, noted strong asset growth but expressed caution regarding the geopolitical situation in West Asia.
The Reserve Bank of India (RBI) has debunked reports of gold sales, stating that its physical stock of gold remains unchanged at 880.52 tonnes, countering claims of selling approximately USD 12 billion to protect foreign-currency reserves.
A poor monsoon could drag overall economic growth and compound the impact of the West Asia conflict on the Indian economy.
Indian realty developers are contemplating price increases for ongoing and upcoming projects to offset margin pressures caused by rising input costs and supply chain disruptions, exacerbated by the West Asia conflict. Input and labour costs have surged by 5-12%, directly impacting developer margins, especially for under-construction projects.
Amid the ongoing conflict in West Asia, Israeli Ambassador to India, Reuven Azar, stated that Israel is willing to cease hostilities if Iran changes its course, emphasising that Tel Aviv has consulted diplomatic channels, including the US and regional partners.
Amidst the ongoing conflict in West Asia, the Oil Ministry assures citizens that India's LPG supply remains secure, with no need for panic booking of cylinders. The normal delivery cycle of two-and-a-half days is being maintained, and crude oil is being sourced from diverse routes.
Dozens of US planes carrying ammunition landed in Tel Aviv, raising concerns about potential strikes on Iran. Negotiations between the US and Iran remain deadlocked over key issues, with both sides issuing fresh demands and warnings.
An Indian-flagged LPG vessel successfully transited the Strait of Hormuz, reducing the number of Indian ships stranded in the Persian Gulf. India is in talks with Iran to ensure safe passage for its tankers, and Indian refiners continue to purchase crude oil and LPG from Iran despite regional tensions.
The ICC said the South African contingent had begun departing for home on Wednesday with "four players and five family members having boarded the flight".
India has officially refuted claims that Elon Musk was involved in a recent phone call between Prime Minister Narendra Modi and President Donald Trump.
United States President Donald Trump on Friday signalled the US intention of going all out in its campaign against Iran's Islamic regime, warning Iran to watch out for what would happen today and saying that the US was winning the conflict despite what reports claimed.
The Asian Weightlifting Championships, originally scheduled for April in Ahmedabad, have been postponed to May due to the ongoing conflict in West Asia, ensuring the safety and participation of all delegations.
Infosys Q4 results beat estimates, but weak FY27 guidance triggers cautious brokerage outlook and target price cuts. Should investors worry?
Domestic passenger vehicle dispatches in India rose 10.6% in February, driven by utility vehicles and two-wheelers, but the industry remains cautious due to geopolitical tensions.
The International Cricket Council confirmed that stranded players from the South Africa national cricket team and West Indies cricket team have finally left India after Gulf airspace closures during the West Asia conflict disrupted travel following the ICC Men's T20 World Cup.
India's private sector activity saw a significant recovery in April, driven primarily by robust growth in manufacturing output and sales, following a three-year low in March attributed to the West Asia conflict.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
Increased input costs due to geopolitical conflict in West Asia and unseasonal rain in March negatively impacted volumes of consumer durables makers, particularly air conditioners, in Q4FY26, leading to projected declines in EBITDA and APAT despite revenue growth.
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.
The family of an Odisha migrant worker who died in Qatar is appealing to the government for assistance in bringing his body home. The 25-year-old was the sole earner for his family.
India's services sector growth reached a five-month high in April, with the HSBC India Services PMI Business Activity Index rising to 58.8, primarily driven by robust domestic demand and a shift from international to local suppliers amidst the West Asia crisis.
Kerala is facing increased inflationary pressure due to recent hikes in petrol and diesel prices, according to Chief Minister V D Satheesan. The state's economy is also impacted by the decline in remittances from the Gulf and higher oil prices.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
Iran's representative in India, Abdul Majeed Hakeem Ilahi, describes the ongoing tensions between Iran and the US-Israel alliance as a state of 'no war, no peace,' calling for an immediate halt to the conflict and questioning the lack of pressure on the US and Israel to cease aggression.
India's economy registered a robust 7.7 per cent growth in the fiscal year 2025-26, an increase from 7.1 per cent in the previous year, with the January-March quarter alone seeing a 7.8 per cent expansion.
The Kremlin has announced it will not disclose data on crude oil exports to India, citing concerns about 'ill-wishers'. This decision follows reports of increased Russian oil supplies to India and China amid geopolitical tensions.
Iranian President Masoud Pezeshkian maintained a stance of defensive necessity, noting that Tehran is "forced to retaliate to attacks" but clarified that this does not imply a dispute with neighbouring countries
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
Crude oil prices surged over 3% in futures trade after US President Donald Trump expressed doubts about the Iran ceasefire, reigniting fears of supply disruptions from West Asia and pushing Brent crude above USD 107 per barrel.
Kerala Chief Minister Pinarayi Vijayan held an online meeting with Loka Kerala Sabha members in the Gulf region to discuss support for the expatriate community amidst the escalating conflict in West Asia.
'If movement remains stalled for three to four months, more than 300,000 recruitments from India could be affected.'
The United States has encouraged India to purchase Russian oil already at sea to mitigate supply shortages and price increases amid the West Asia conflict, according to Energy Secretary Chris Wright. This move is described as a short-term effort to stabilise the market without altering Washington's policy towards Russia.
Amidst the ongoing US-Israel-Iran conflict, the Maharashtra government is arranging evacuation flights to bring home 164 citizens stranded in the UAE due to airspace closures, offering a crucial lifeline and support.
US Secretary of War Pete Hegseth praised India's military modernisation efforts at the Shangri-La Dialogue in Singapore, highlighting its growing industrial and logistics capacity.
Russia has expressed strong concern over a US-Israeli strike on the Iranian port of Bandar Anzali, a key transit hub on the INSTC, warning of the risk of drawing Caspian states into the ongoing conflict.
Nath's comments came amid the Congress party's continuous attack on Centre for the recent hike in commercial LPG cylinders and the Aviation Turbine Fuel (ATF).
The escalating conflict in West Asia has resulted in 19 ships carrying essential energy resources for India being stranded in the Strait of Hormuz, raising concerns about potential disruptions to the country's energy supply.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances