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India calls for peace in West Asia, asks citizens to exit Iran
The government expressed regret over renewed attacks in West Asia, saying the latest developments are of utmost concern to the international community. In a statement, ministry of external affairs (MEA) also called on all parties to immediately de-escalate tensions, ensure that civilians are not harmed and conclude ongoing negotiations for a diplomatic solution so that peace and stability can return to the region. “This conflict has now lasted over 100 days and has already caused immense...
RBI cuts growth, hikes inflation forecast as West Asia crisis bites
Caught between a slowing economy and the risk of a fresh price spiral triggered by the conflict in West Asia, the RBI on Friday left the repo rate unchanged at 5.25%, cut its growth forecast for FY27 and raised its inflation projections, while signalling that the inflation threat could broaden economy-wide beyond fuel and commodities if supply-side pressures persist. Governor Sanjay Malhotra stopped short of tightening policy but left little doubt that the central bank is wary of what it...
Hormuz shut, shipping services through other routes to West Asia up 2x
Shipping services from India to alternative West Asian ports have more than doubled since conflict broke out in the region, severely impacting the movement of vessels through the Strait of Hormuz. The number of shipping services operating east of Hormuz and through the Red Sea rose from 127 in Feb to 257 in April and 245 in May, as per govt data. The shipping ministry said due to the conflict, shipping services west of Hormuz have become negligible, but there has been a significant increase...
'India has huge role to play': Israel says New Delhi's influence can stabilise Middle East
Israel’s ambassador to India, Reuven Azar, has praised India’s growing influence in West Asia, saying New Delhi has a “huge role to play” in bringing stability to the region amid continuing geopolitical tensions and economic uncertainty. Speaking about India’s role in the ongoing West Asia crisis, Azar said India’s expanding economic power and trade partnerships could transform the region if stability is maintained and extremist threats are contained. “India has a huge role to play because...
Government raises Rs 20,000cr via disinvestment, asset sale
Over two months into the financial year, the Centre has raked in around Rs 20,000 crore from disinvestment and asset sales, pushing ahead with its strategy to raise resources through non-tax revenue route in face of the mounting subsidy bill due to the West Asia conflict. The funds raised so far are around 25% of the full-year target. Already, the fertiliser ministry has sought doubling of subsidy in the current fiscal, budgeted at Rs 1.7 lakh crore, with govt also urging domestic players to...
Commercial LPG gets costlier: Cylinder sees average hike of Rs 47.75 across cities
Commercial LPG prices across India have been increased by Rs 42 to Rs 53.50 per cylinder from Monday. The price hike comes amid concerns over fuel supply security and efforts to strengthen LPG reserves following recent disruptions linked to the West Asia conflict. The price of a 19-kg commercial LPG cylinder in Delhi has been raised by Rs 42, taking the retail price to Rs 3,113.50.
GDP rose 7.7% in FY26, 7.8% in Q4; RBI trims this year's projection to 6.6%
The Indian economy grew 7.8% in the Jan-March quarter as strong investment, sustained farm production and expansion of the construction and tertiary sector led to a robust demand, offsetting the anticipated adverse impact of the conflict in West Asia. Data released by the National Statistics Office (NSO) Friday with the revised 2022-23 base year estimated 2025-26 growth at 7.7%, compared with 7.6% in the second advance estimates released in Feb. This is comparably higher than the 7.1% growth...
‘How to have financially strong airlines,’ India finally begins to figure out
The ongoing West Asia crisis could pave the way for long-awaited reforms for India to have financially viable airlines and a sustainable aviation sector. The Union aviation ministry has “initiated a study on financially stressed airlines in India to assess structural challenges and identify measures to improve sector resilience.” It has asked airlines and other stakeholders to suggest reforms in policy, regulatory affairs, operations, contracts, procurement-related and other areas; the...
US-Iran conflict: Can India shrug off impact? RBI confident of domestic resilience — key takeaways
Acknowledging the impact of the West Asia crisis, the RBI has said that several factors will help India counter the negative effects and emerge strong.
Red alert for airlines? Middle East war pushes global passenger demand down 3.4% in April
The West Asia conflict has severely impacted global aviation, causing a 3.4% drop in passenger demand in April due to soaring fuel prices and airspace disruptions. Middle East carriers saw a drastic 46.6% decline. Airlines are reducing flights and increasing fares as a result of these ongoing challenges.