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.
Pakistan is set to host the foreign ministers of Saudi Arabia, Egypt, and Turkiye to discuss a range of issues, including de-escalating tensions in West Asia.
Gold and silver are expected to remain volatile with a corrective bias as investors assess the latest flare-up in the US-Iran conflict, movements in crude oil prices, and inflation data, which could reshape expectations for global interest rates, according to analysts.
Foreign investors have aggressively sold off Indian equities, withdrawing over 48,213 crore in the first 10 days of April, following a record 1.17 lakh crore outflow in March, driven by escalating geopolitical tensions in West Asia, rising crude oil prices, and global inflation concerns.
The government will lift restrictions on the sale of petrol and diesel to commercial and industrial consumers from July 1, easing emergency measures imposed to manage fuel supplies.
India's wholesale price index (WPI) inflation surged to 9.68 per cent in May, up from 8.26 per cent in April, primarily due to significant increases in the prices of fuel and power, manufactured goods, and food items.
The United States on Saturday (local time) launched a third round of strikes against Iran after alleging that Iran's Islamic Revolutionary Guard Corps (IRGC) attacked the Cyprus-flagged container vessel M/V GFS Galaxy in the Strait of Hormuz.
Indian equity markets, including the Sensex and Nifty, experienced a significant downturn for the second consecutive day, driven by escalating geopolitical tensions in West Asia and persistent foreign fund outflows.
Kuwait's air defence systems engaged 'hostile aerial targets', Jordan intercepted four missiles, and Bahrain sounded warning sirens after Iran launched retaliatory strikes targeting US military installations in the region.
Indian benchmark indices Sensex and Nifty experienced volatile trade, declining in early deals before fluctuating, as investors reacted to unabated foreign fund outflows and rising geopolitical uncertainties, particularly 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.
India's Central government is likely to see its fertiliser subsidy bill double to a record 3.4 trillion in FY27, up from the Budget estimate of 1.7 trillion, due to surging global fertiliser prices exacerbated by the West Asia war. This significant increase, coupled with revenue losses from excise duty cuts for oil-marketing companies, is straining the government's fiscal space, though capital expenditure plans remain unchanged.
Indian benchmark indices Sensex and Nifty closed lower, snapping a two-day rally, as a spike in crude oil prices, triggered by reports of fresh US military operations in southern Iran, dampened investor sentiment and reignited fears of renewed energy supply disruptions.
Prime Minister Narendra Modi and Indonesian President Prabowo Subianto have significantly advanced the India-Indonesia Comprehensive Strategic Partnership, securing crucial agreements on defence, critical minerals, and maritime security, including BrahMos missile supply and Sabang port development.
Amidst escalating tensions in West Asia, India strongly condemns the recent attacks on energy infrastructure, warning of further destabilisation to the already uncertain global energy market.
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.
The United States and Iran are scheduled to hold their initial round of talks in Switzerland on Friday, following a ceasefire agreement virtually signed by US President Donald Trump and Iranian President Masoud Pezeshkian.
'DRDO has been directed to license missile technologies to the private sector.'
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.
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).
Amidst the escalating conflict in West Asia, India is actively engaged in diplomatic efforts to protect its energy security interests and ensure the safety of its diaspora in the region.
Iranian Foreign Minister Seyed Abbas Araghchi mocked US President Donald Trump's claim of the US being the 'guardian' of the Strait of Hormuz, asserting that Iran has always been and will remain the sole guardian, while also suggesting that any entity providing security should be compensated, though Trump's proposed '20 per cent' levy is 'too much'.
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
India has relocated the majority of its students from Tehran due to the escalating conflict in West Asia. The Indian embassy has arranged for their transportation, food, and accommodation outside of Tehran. An advisory remains in place for other Indian nationals in Iran to stay indoors and exercise caution.
India's wholesale price inflation (WPI) increased to 9.87 per cent in June, up from 9.68 per cent in May, primarily due to significant price increases in non-food and food products, with food inflation alone rising to 5.49 per cent.
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.
US Vice President J D Vance is currently in Switzerland, leading critical technical talks with Iran to advance diplomatic efforts on Iran's nuclear programme and secure a lasting ceasefire in Lebanon, following a recently signed memorandum of understanding aimed at de-escalating West Asian hostilities.
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.
'... with the rest split between mid and smallcaps, as valuations are becoming more attractive across segments.'
Prime Minister Narendra Modi will chair a meeting with senior ministers to assess the petroleum, power, and fertiliser sectors in light of the ongoing situation in West Asia, focusing on ensuring uninterrupted supply and stable logistics.
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.
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.
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.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
Iran has denied agreeing to participate in a second round of peace talks, contradicting claims made by the United States. The denial comes as tensions remain high in West Asia, with a ceasefire window nearing its end.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
Prime Minister Narendra Modi and US President Donald Trump are set to hold comprehensive talks focusing on a bilateral trade deal, defence cooperation, and energy and critical minerals sectors during the G7 summit in Evian-les-Bains, France.
Russian President Vladimir Putin and Chinese President Xi Jinping have reaffirmed their commitment to dismantling global hegemonism and building a 'multipolar world' during high-level talks in Beijing.
US Special Envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi are reportedly heading to Switzerland for a new round of US-Iran negotiations, following a recently announced memorandum of understanding to end hostilities in West Asia and a ceasefire between Israel and Hezbollah.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
