India is closely monitoring the situation in West Asia and working to ensure the safety of its citizens stranded in the region. Over 52,000 Indians have returned home following the partial opening of airspace.
The United States and Iran have reached an agreement in principle to immediately and permanently halt all military operations, lift sanctions, and work towards a comprehensive final agreement within 60 days, including a significant reconstruction package for Iran.
The Reserve Bank of India (RBI) net-bought $7.4 billion from the spot foreign exchange market in February, its highest buy since March 2025, before heavily intervening by selling dollars in March as the rupee declined over 4 per cent following a spike in crude oil prices.
The Reserve Bank of India (RBI) has projected that crude oil prices will average USD 85 per barrel and the rupee will weaken to 94 against the dollar by FY27, according to its bi-annual Monetary Policy report.
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.
As tensions in the Middle East approach a critical juncture, reports have surfaced regarding a draft memorandum of understanding between the United States and Iran aimed at de-escalating the ongoing conflict, Iranian state media reported on Wednesday.
Crude oil prices are projected to fall significantly this year, driven by hopes of a peace deal between the US and Iran, which could lead to the reopening of the Strait of Hormuz, and a notable drop in Chinese demand for seaborne crude imports.
Crude oil prices experienced a significant drop following the announcement of a US-Iran ceasefire and the reopening of the Strait of Hormuz, leading to heavy selling by traders.
The United States and Iran are engaged in indirect talks aimed at developing a framework for a possible agreement, according to Iran's ISNA News Agency. Intensive mediation efforts are underway, but it remains uncertain whether a final agreement is within reach.
Crude oil prices have surged to record highs due to escalating tensions between the US and Iran, raising concerns about supply disruptions and market volatility.
The Reserve Bank of India (RBI) has announced a record surplus transfer of Rs 2.87 trillion to the central government for FY26, driven by increased income and an expanded balance sheet, despite a reduction in the contingent risk buffer (CRB) to 6.5 per cent.
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The government has dismissed speculation of an imminent increase in petrol and diesel prices, assuring citizens that there are no plans for a hike despite rising crude oil costs.
French President Emmanuel Macron on Monday announced that France and the United Kingdom will jointly lead a multinational initiative to restore free and secure navigation in the Strait of Hormuz amid uncertainty over the virtual control of the strategic waterway between the US and Iran.
Gautam Adani, chairman of Adani group, emphasised that energy and intelligence are inseparable national priorities, asserting that India must build its own capabilities in these sectors rather than relying on external sources, especially in the context of global conflicts and shifting supply chains.
An air strike conducted by US and Israeli forces on the Black Mountain has resulted in the deaths of at least three individuals, Al Jazeera reported, citing Iranian state media.
The United States Special Forces have rescued the second F-15 crew member alive, who went missing after Iran downed the jet amid the West Asia conflict, President Donald Trump has confirmed.
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
The Congress party has criticised Prime Minister Narendra Modi's diplomatic efforts following the ceasefire agreement between the US and Iran, facilitated in part by Pakistan. The party claims this development undermines Modi's strategy and exposes his perceived failures in foreign policy.
In a post on Truth Social, Trump said the decision followed a request from the Iranian government and added that talks between the two sides were 'going very well'.
'At the first sign of real trouble, that money will move. There will be a run.'
External Affairs Minister S Jaishankar has engaged in multiple conversations with his Iranian counterpart to secure safe passage for Indian merchant vessels through the Strait of Hormuz amidst escalating tensions in West Asia.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
Tensions escalated dramatically on March 5, 2026, as the United States and Israel launched coordinated strikes on Iran, triggering retaliatory explosions across Tehran, Sanandaj, and beyond.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
India's economy is projected to maintain growth above 7 per cent in 2026-27 (FY27), supported by strong domestic consumption and investment, even as global growth faces risks from geopolitical tensions, according to industry body Assocham.
Russian President Vladimir Putin is set to visit China for talks with Chinese leader Xi Jinping, shortly after US President Donald Trump's visit to Beijing. The visit underscores the close strategic ties between China and Russia amid global tensions.
The Maharashtra government has launched an emergency WhatsApp helpline for state residents stranded in the Middle East due to airspace closures amid the US-Israel-Iran conflict. Chief Minister Devendra Fadnavis is monitoring the situation and coordinating with central agencies.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
Prime Minister Narendra Modi's visit to Italy concluded with the elevation of India-Italy relations to a Special Strategic Partnership, focusing on enhanced cooperation across various sectors.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
US President Donald Trump and Russian President Vladimir Putin discussed the Iran conflict and its impact on global energy supplies during a phone call.
As the security situation continues to evolve in West Asia and the Gulf region, an Iranian military source has warned the United States against any ground aggression on Iran, calling it a red line and saying a 'surprise' would await US President Donald Trump, Tasnim News Agency reported on Saturday.
Travel situation from the Gulf region is gradually improving, with a significant number of passengers already returning to India.
Islamabad's attempt to position itself as a mediator in the West Asia conflict has come to naught with the Iranian side refusing to meet any US-led delegation in Pakistan, reports the Wall Street Journal.
Trump said that the strait will be "open very soon" if ongoing negotiations with Tehran continue successfully.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
Pezeshkian urged American citizens to look beyond 'manufactured narratives', claiming the portrayal of Iran as a threat is driven by the military-industrial complex and Israeli political interests.
Chinese President Xi Jinping has called for the Strait of Hormuz to remain open for normal passage of ships, describing it as an 'international waterway' amid rising tensions between the US and Iran.
