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The Latest Breaking News from West Asia

India needs structural reforms, not subsidies, to shield economy from West Asia shocks: Report

India must shift from subsidy reliance during global crises to structural reforms for economic resilience. Rising geopolitical tensions highlight vulnerabilities in energy, industrial feedstocks, and supply chains. A white paper by Think Change Forum proposes a three-point agenda focusing on export competitiveness, import discipline, and trade defence. Key recommendations include…

The Economic Times · May 27

Trump again slams media coverage on West Asia conflict, says "gone absolutely crazy"

Former President Donald Trump criticized media coverage of the West Asia conflict, alleging bias against his administration. He claimed outlets would even portray Iran's surrender as a victory for the nation. Trump also accused Democrats and media of losing their way and going "CRAZY!"

The Economic Times · May 27

India’s GDP revisions explained: What changed and why it matters

Amidst the ongoing West Asia crisis, the Indian economy is expected to take a hit: the World Bank’s latest projections suggest that the country’s GDP growth could fall to 6.6 percent in this financial year.

Newslaundry · May 26

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Geopolitical stability will decide market’s next move: Sandip Sabharwal

Indian equity markets are holding above 24,000, buoyed by improving sentiment and steady earnings, though geopolitical tensions remain a concern. Market expert Sandip Sabharwal suggests the current rally is a rebound from overly negative investor positioning, with sustainability dependent on crude oil prices and West Asian developments.

The Economic Times · May 26

Markets brace for a long conflict as investors reassess global equity risks: Andrew Freris

West Asian tensions are creating market uncertainty. Investors face prolonged volatility for months or years. Some Asian markets like Singapore and Taiwan are outperforming the US. Investors should look beyond the S&P 500. AI investments need careful scrutiny. US bond yields are expected to remain elevated, impacting global capital flows.

The Economic Times · May 26

Donald Trump honours 13 US service members killed in West Asia conflict

US President Donald Trump paid tribute to thirteen US service members killed during operations against Iran. He vowed that Iran, labelled the world's top terror sponsor, will never acquire nuclear weapons. Meanwhile, the US and Iran are in talks to resolve differences regarding Tehran's nuclear program and sanctions. Progress is…

The Economic Times · May 26

Why Nirmala Sitharaman Warned Against Fear Mongering

Most people hear economic warnings and immediately think they only affect governments or big businesses. But sometimes, global pressure quietly enters everyday life through fuel prices, grocery bills, travel costs, and job uncertainty. That is exactly why Finance Minister Nirmala Sitharaman recently warned against “fear mongering” while explaining the growing…

MyLifeXP · May 26

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US, Iran working to resolve differences over language on nuclear issue amid talks: Report

US-Iran war: United States and Iran are negotiating to finalize a peace deal for West Asia. Discussions focus on Iran's nuclear program and lifting sanctions. Both sides are reportedly optimistic about bridging gaps. A delegation from Iran is in Qatar, a key mediator. Progress hinges on Iran disposing of enriched…

The Economic Times · May 26

Iran's deputy foreign minister dials Vikrim Misri to discuss West Asia situation

India's Foreign Secretary Vikram Misri spoke with Iran's Deputy Foreign Minister Majid Takht Ravanchi. Discussions covered regional developments and bilateral cooperation. This follows US Secretary of State Marco Rubio's statement on progress in US-Iran talks. The Strait of Hormuz reopening is a key focus. Iran's nuclear program and control over…

The Economic Times · May 25

Parliamentary panel members grill Oil ministry officials over 'shortage' of petrol, LPG

Parliamentary panel members questioned Oil Ministry officials about petrol and diesel shortages. Officials confirmed crude oil stocks for 78 days. Thirteen Indian ships remain stranded in West Asia due to the Strait of Hormuz closure. The government is working to ensure no shortages, but war uncertainty persists. Fertiliser availability is…

The Economic Times · May 25

Amid West Asia turmoil, Quad foreign ministers gather to reinforce Indo-Pacific stability

Quad foreign ministers convene in New Delhi. Discussions will focus on the West Asia crisis and Indo-Pacific security. Cooperation in critical minerals and technology is also on the agenda. The meeting will review ongoing initiatives and recent developments. This gathering sets the stage for a future Quad summit in India.

The Economic Times · May 25

Govt gives up Rs 14,000 crore in tax revenue after excise duty cut on petrol and diesel: Petroleum Ministry

The Indian government has sacrificed nearly Rs 14,000 crore in tax revenue by lowering excise duty on petrol and diesel. This move aims to protect consumers from rising fuel prices driven by the West Asia crisis. Despite this, oil companies continue to face daily losses.

The Economic Times · May 25

India medical tourism market feels the weight of Iran war

India's medical tourism sector faces challenges as West Asian tensions continue. Overseas patient numbers remain lower than before the conflict intensified. Hospital chains report a gradual increase in inquiries and arrivals, but traffic has not fully recovered. Prolonged geopolitical uncertainty could also raise operating costs through inflation and currency fluctuations.

The Economic Times · May 25

West Asia crisis not a diplomatic issue, will lead to higher fuel costs for common man: Finance Minister Nirmala Sitharaman

Fuel prices have risen again. Union Finance Minister Nirmala Sitharaman highlighted the West Asia crisis impact. She stated this crisis means higher fuel costs for citizens. The government is foregoing Rs 1 lakh crore in revenue. This is due to excise duty cuts on petrol and diesel. The government aims…

The Economic Times · May 25

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The Economic Times · May 25

West Asia conflict may dent India Inc profitability by 200 bps: Crisil

A prolonged West Asia conflict poses a risk to India Inc's profitability. Crisil Ratings predicts a significant drop in operating margins due to supply chain issues and rising costs. However, strong company balance sheets are expected to protect overall credit quality. Some sectors like ceramics and airlines face severe stress.…

Whats Hot · May 25

Fuel Prices in India Hiked for Fourth Time in Two Weeks Amid Global Oil Shock

India has witnessed another sharp increase in fuel prices, with state-run oil marketing companies (OMCs) raising petrol and diesel rates for the fourth time in less than two weeks. The latest revision has intensified concerns among consumers and policymakers as global crude oil markets remain volatile due to escalating geopolitical…

The Economic Times · May 25

The three Fs that Sitharaman flagged as India braces for a widening global oil shock, forex strain

In light of increasing global unrest from the West Asia crisis and fluctuations in the energy sector, Finance Minister Nirmala Sitharaman is advocating for a concentrated approach to managing fuel, fertiliser, and foreign exchange resources. Prime Minister Modi's recent appeals to conserve foreign currency and reduce discretionary imports underscore this…

MyLifeXP · May 25

Why Jaishankar’s Latest US Meeting Has Everyone Talking

At a time when the world is watching wars, rising tensions, and shifting alliances, one statement from India’s External Affairs Minister Subrahmanyam Jaishankar quietly grabbed global attention. During crucial talks with US Secretary of State Marco Rubio in New Delhi, Jaishankar called terrorism a “shared challenge” between India and the…

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The Economic Times · May 24

Jaishankar and Rubio hold key talks on Hormuz security and West Asia stability

External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio in New Delhi. Discussions centered on the West Asia conflict and securing maritime trade. Key topics included global order, civil nuclear cooperation, defense, trade, terrorism, and migration. Both nations emphasized their strategic partnership and shared interests.

The Economic Times · May 24

Cement makers expect 7-8% growth in FY27 despite West Asia headwinds

Indian cement companies anticipate strong growth of 7-8 per cent in FY27. Government infrastructure projects and housing demand are key drivers. Companies are increasing capital expenditure to support this expansion. Despite rising fuel costs and geopolitical concerns, the sector remains optimistic about its long-term growth trajectory.

The Economic Times · May 24

India, Oman strengthen defence cooperation through joint military training

India and Oman have strengthened their strategic defence partnership with specialized military training for the Sultan's Armed Forces. Two Indian Mobile Training Teams focused on operational coordination and joint logistics, enhancing interoperability. This initiative follows recent discussions on West Asia and India's condemnation of attacks on commercial shipping off Oman's…

The Economic Times · May 23

India sees minimal fuel price hike amid global surge triggered by West Asia crisis

India witnessed one of the world's smallest fuel price hikes, with petrol and diesel rising only around 5% despite global surges. This moderation, following a nearly 76-day price freeze, was achieved through excise duty cuts and absorbing crude oil cost increases. Many nations, including neighbors like Nepal and Sri Lanka,…

The Economic Times · May 23

Pakistan Army Chief, Iran Foreign Minister Araghchi discuss West Asia conflict: Iranian media

Iran and Pakistan discussed West Asia security. Iran's Foreign Minister told the UN chief that US demands hinder peace talks. The US was reportedly preparing for military strikes against Iran. Iran stated its right to peaceful nuclear energy. US Secretary of State consulted NATO allies on Strait of Hormuz navigation.

The Economic Times · May 23

Fuel price hikes, West Asia tensions push Indian businesses towards EV transition

Rising crude oil prices are pushing India towards electric vehicles. Businesses are seeking stable operational costs. This shift is driven by economic necessity. Geopolitical instability in West Asia adds to concerns about fossil fuel dependence. India's EV adoption looks strong, driven by policy and cost savings. Fleet operators prefer local…

The Economic Times · May 22

AIIB announces USD 10 bn fund facility to support countries hit by West Asia conflict

Supplementing AIIB's regular financing instruments, the facility offers a time-bound financing envelope of up to USD 10 billion over two years, which provides "exceptional financing support to its members and clients in addressing their acute needs for energy security, food security and economic resilience," AIIB said in a statement.

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