'DRDO has been directed to license missile technologies to the private sector.'
'The March correction was clearly due to the war and with prospects of that coming to a conclusion, there is a natural rally.'
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.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
Nomura has increased its March 2027 target for the Nifty 50 to 25,900, driven by strong corporate earnings and attractive market valuations, even as risks from the West Asia conflict and high oil prices persist.
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.
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.
Analysts are revising down India Inc's financial year 2026-27 (FY27) earnings growth forecasts, citing persistently high crude oil prices above $100 a barrel due to the West Asia conflict, which is expected to dent corporate financial performance in the coming quarters.
The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
Sagiv Steinberg, CEO of the Jerusalem Center for Security and Foreign Affairs (JCFA), described the recent US-Iran peace agreement as a temporary 60-day ceasefire, not a genuine peace deal, suggesting it's timed for the upcoming US midterm elections.
Nobody takes Pakistan seriously and therefore Pakistan's sudden mediating with almost immediate results of a ceasefire seems more contrived than real, points out Vice Admiral Biswajit Dasgupta (retd).
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
'India has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
"The world might face a food crisis if the war continued till the end of April, as it could have a dramatic impact on planting in Europe and North America," said Matt Simpson, CEO of Brazil Potash.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
Sports Minister Mansukh Mandaviya led the FIT India Cyclothon in Mumbai, advocating for cycling as a sustainable mode of transportation. The event, attended by Narsingh Yadav and Jackie Shroff, highlighted the importance of cycling for personal health, environmental sustainability, and energy conservation, especially amidst global fuel supply concerns.
India's exports reached a six-month high, growing by 18 per cent to USD 45.2 billion in May, driven by electronic goods, petroleum products, engineering items, and pharmaceuticals. However, the trade deficit widened to USD 28.21 billion due to a 10 per cent rise in imports, particularly petroleum products and gold, amidst surging crude oil prices.
India's fertiliser subsidy bill is projected to increase by approximately 70,000 crore, reaching around 2.41 trillion in FY27, primarily due to rising import costs exacerbated by the ongoing West Asia crisis.
A potential US-Iran peace deal, expected to be signed on June 19, is anticipated to ease geopolitical stress and benefit various sectors, particularly in India, with analysts suggesting investors await finer details before making significant moves.
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
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.
Indian benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global rally and a sharp decline in crude oil prices following the finalisation of a peace deal between the US and Iran to end their 107-day conflict and reopen the Strait of Hormuz.
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.
Pakistan Prime Minister Shehbaz Sharif clarified that the recent Memorandum of Understanding (MoU) signed between the US and Iran does not include provisions regarding Tehran's ballistic missile programme. This statement followed talks with Iranian President Masoud Pezeshkian, with Sharif emphasising Iran's right to its defence capabilities and Pakistan's role as a mediator in the US-Iran peace process.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
Kerala, Tamil Nadu and West Bengal have been fiscally stressed for a considerable period of time, and there are no easy ways to mobilise revenues to meet the cost of the promised freebies, particularly in the prevailing difficult economic scenario, points out M Govinda Rao.
India's crude oil imports from Russia reached a record high of approximately 2.73 million barrels per day (mbpd) in June, driven by discounts of $2-5 a barrel. This surge comes as the West Asia crisis disrupted supplies from traditional sources and China reduced its own purchases, leading Russia to offer more favourable terms to India.
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.
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.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
US President Donald Trump announced a finalised peace deal between the US and Iran, set for signing on June 19 in Switzerland, with key figures like J D Vance, Steve Witkoff, and Jared Kushner from the US side, and Abbas Araghchi and Mohammad Bagher Ghalibaf representing Iran, alongside Pakistani mediators Field Marshal Asim Munir, Shehbaz Sharif, Ishaq Dar, and Mohsin Naqvi, playing crucial roles in the diplomatic breakthrough.
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.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
Airfares to Southeast Asia have surged 25 to 30 per cent, driven by high demand and limited airline seat capacity.
The start of the West Asia conflict has led to a sharp increase in crude-linked raw material prices, pushing up the price of helmets across the country.
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.
India has significantly reduced Aviation Turbine Fuel (ATF) prices for international airlines by 27% due to easing global fuel benchmarks, while simultaneously increasing commercial LPG and 5-kg cylinder prices to record highs.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's call for citizens to make economic sacrifices in response to the West Asia conflict, calling it 'evidence of failure'. Gandhi accused Modi of shifting responsibility onto the public and being incapable of running the country.
The ongoing Iran-US conflict is casting a shadow over global cricket, potentially disrupting the IPL 2026 due to travel disruptions and logistical challenges.
