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The Latest Breaking News from West Asia

Downside risks to economy have begun materializing as continued West Asia conflict casts shadow over India's trade outlook: Crisil

The escalating conflict in West Asia is emerging as a major risk for India’s economy, threatening trade flows, increasing import costs, and putting pressure on growth. Higher crude oil and transportation expenses are expected to widen India’s current account deficit and push inflation upward as businesses pass on rising costs…

The Economic Times

ICRA lowers India's FY27 GDP growth estimate to 6.2%

Rating agency ICRA has revised India's FY27 GDP growth forecast down to 6.2% from 6.5% due to elevated crude oil prices stemming from the West Asia crisis. For FY26, growth is estimated at 7.5%. Q4 FY26 GDP growth is expected to slow to 7% amid moderating industrial and services sectors,…

The Economic Times

India's fuel price hike among world's lowest outside Gulf nations: BJP

Fuel prices saw a hike of about 90 paise per litre. The BJP stated this increase is among the lowest globally. State-run oil firms absorbed significant losses for 76 days before passing on some costs. Global crude prices surged due to the West Asia conflict. India's fuel price rise remains…

The Economic Times

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SC rejects SpiceJet's plea in Rs 144 cr case with Kalanithi Maran & Kal Airways, asks it to move Delhi HC

The Supreme Court of India on Tuesday asked SpiceJet to approach the Delhi High Court for more time to deposit Rs 144 crore in its dispute with Kalanithi Maran and Kal Airways. SpiceJet, represented by senior advocate Mukul Rohatgi, argued that the West Asia crisis had hurt the airline’s operations…

The Economic Times

Indians may be roaming closer to home because of a war far away

India Tourism Sector and Iran War: Prime Minister Modi's call to curb foreign travel for a year aims to boost domestic tourism, conserve foreign exchange, and reduce the import bill amid the West Asia crisis. Industry experts anticipate a surge in local travel, benefiting airlines, hotels, and tour operators. This…

The Economic Times

Tata Steel CEO TV Narendran cautiously optimistic; sees strong Q1 ahead as steel prices rise across India, UK, & Europe

Tata Steel CEO TV Narendran flags multi-point cost pressure from the West Asia crisis but says the company has so far recovered most input cost increases from the market. Narendran eyes a stronger Q1 FY27 with better prices in India, the UK, and the Netherlands. India's volume growth and UK…

The Economic Times

PM Modi calls for early end to conflicts in West Asia and Ukraine

India and Norway have established a Green Strategic Partnership. Prime Minister Narendra Modi and his Norwegian counterpart Jonas Gahr Store discussed expanding cooperation in clean energy, climate resilience, and the blue economy. Both leaders called for resolving global tensions through dialogue and diplomacy. The partnership aims to combine India's scale…

The Economic Times

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India set to host Quad foreign ministerial meeting next week

New Delhi will host a crucial Quad foreign ministers' meeting next week. The gathering will focus on pressing global issues, including the West Asia crisis and the Indo-Pacific's evolving security landscape. Discussions will also cover cooperation in the Indo-Pacific region, addressing increasing Chinese assertiveness. This meeting sets the stage for…

The Economic Times

GIFT Nifty jumps nearly 1% after reports of US relief on Iran oil sanctions

GIFT Nifty rallied nearly 1% after reports indicated possible temporary US sanctions relief on Iranian oil exports. Hopes of additional crude supply eased inflation and energy shock concerns, lifting investor sentiment despite ongoing geopolitical tensions, volatile crude prices, rupee weakness, and uncertainty surrounding West Asia negotiations.

The Economic Times

India's fertiliser subsidy bill for FY27 may rise by Rs 70,000 cr on West Asia crisis, official says

India's fertiliser subsidy bill could rise by Rs 70,000 crore to Rs 2.41 lakh crore in 2026-27. This increase is driven by higher import costs for urea and other fertilisers due to the West Asia crisis. Despite cost pressures, fertiliser availability for the 2026 kharif season remains comfortable. Diversified import…

The Economic Times

Have urged chief justices of all HCs to conduct virtual hearings: Chief Justice of India

Chief Justice of India Surya Kant has asked high court chief justices to hold online hearings on Mondays and Fridays. This move aims to cut down unnecessary expenses amid the West Asia crisis. The Supreme Court itself has adopted similar video conference proceedings.

The Economic Times

Up to 40% NCR buyers prefer homes with dedicated workspaces as WFH reshapes buying behaviour: Experts

Narendra Modi has urged citizens to conserve fuel, avoid non-essential spending, and work from home where possible amid rising geopolitical tensions in West Asia. While aimed at tackling short-term economic pressures, the appeal is also accelerating an ongoing shift in India’s housing market, as remote work continues to influence home-buying…

The Economic Times

EXIM Bank eyes 10% jump in loan book in FY27 despite West Asia tensions

Export-Import Bank of India expects its loan book to grow 10% in FY27 despite geopolitical tensions in West Asia, according to Managing Director and CEO Harsha Bangari. The projected growth is lower than FY26’s 12% rise, which was partly boosted by favourable currency movements as a large share of the…

The Economic Times

Arnab Das

India's energy security is under scrutiny amid West Asian geopolitical tensions. Recent UAE engagements offer partial relief for external finances, but complex global realignments and resource competition persist. Experts highlight India's progress but emphasize the need for further advancements in strategic resources and technology.

The Economic Times

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The Economic Times

India-UAE energy push offers relief, but global risks still loom: Arnab Das

The Economic Times

India's gems, jewellery exports down 9.07 pc in April at $2,226.45 million

India's gems and jewellery exports saw a 9.07% decline in April, totaling USD 2,226.45 million. This downturn is attributed to the West Asia conflict and uncertainties regarding US tariffs. Key segments like cut and polished diamonds, lab-grown diamonds, and gold jewellery experienced significant drops, though silver jewellery exports surged.

The Economic Times

India-Netherlands engagement deepens as EAM Jaishankar meets Dutch counterpart

India and the Netherlands have elevated their ties to a Strategic Partnership. External Affairs Minister S Jaishankar met Dutch Foreign Minister Tom Berendsen. The leaders discussed trade, innovation, and people-to-people connections. They also addressed the Ukraine war and the situation in West Asia. The Netherlands will join the Indo-Pacific Oceans…

The Economic Times

Tata Steel Q4 net more than doubles on India strength, Europe recovery

Tata Steel reported a sharp rise in March quarter earnings, with net profit more than doubling on strong India performance and improving European operations. Annual profit also surged. However, the company flagged rising cost pressures from West Asia tensions and ongoing regulatory challenges in Europe impacting its overseas business.

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The Economic Times

Targeting commercial shipping, impeding navigation in Strait of Hormuz unacceptable: India's UN envoy

India's UN envoy Parvathaneni Harish stressed the need for short-term and long-term measures, plus international cooperation, to address the energy and fertilizer crisis amid the West Asia conflict. He reiterated concerns over maritime security and freedom of navigation in the Strait of Hormuz, deeming disruptions unacceptable and calling for respect…

The Economic Times

Will petrol and diesel prices rise again? Fuel hike may be just the first of several increases, say experts

Petrol, Diesel price today: Fuel prices have been increased by Rs 3 per litre as state-run oil companies face mounting losses due to rising global crude oil prices. Experts predict this hike is the beginning of staggered increases, with further modest rises likely if the West Asia conflict persists and…

The Economic Times

India's monthly household basket may feel the heat of rising fuel costs

Consumer goods prices may rise soon. Higher fuel costs from the West Asia conflict will increase shipping and production expenses. Companies like Dabur India and Marico have already raised prices. Further increases are being considered by Nestlé India and Hindustan Unilever. This could affect consumer spending, especially in rural areas.

The Economic Times

UAE rejects Iran's 'direct involvement' claims in West Asia conflict, says allegations will not shake its "principled positions"

The UAE has vehemently rejected Iran's accusations of direct involvement in aggression against Tehran during the West Asia conflict. Minister of State Khalifa Shaheen Al Marar asserted that such claims would not sway the UAE's principled stance or sovereign decision-making, while also accusing Iran of repeated attacks on Emirati infrastructure.

The Economic Times

Rising oil prices, gold imports to widen trade deficit, CAD may touch 1.5-2% of GDP: ICICI Securities

With the West Asia conflict persisting and global oil prices likely to average around USD 100/bbl, India's current account deficit could rise meaningfully this year, ICICI Bank Global Markets warns. While resilient services exports should offer some cushion, the brokerage expects the current account deficit (CAD) to settle between 1.5-2…

The Times of India

Friendly nations can rely on safe commerce, says Araghchi after meeting EAM; welcomes any positive role by India for peace

External affairs minister S Jaishankar and his Iranian counterpart Seyed Abbas Araghchi discussed the West Asia conflict and its implications, including the Strait of Hormuz situation, in their first bilateral meeting since the US-Israel and Iran war started in February.

The Economic Times

India ready to extend all possible support for restoration of peace and stability in West Asia: PM Modi

India pledges full support for peace in West Asia. Prime Minister Narendra Modi condemned attacks on the UAE. He praised UAE President Sheikh Mohamed bin Zayed's handling of the situation. India stands with the UAE. The volatile situation impacts global security. India prioritizes dialogue and diplomacy.

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