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The Latest Breaking News from West Asia

EAM Jaishankar meets Qatar PM; reviews bilateral cooperation, regional developments

External Affairs Minister S Jaishankar held productive discussions with Qatar's Prime Minister Mohammed bin Abdulrahman Al-Thani, focusing on strengthening bilateral ties across energy, trade, investments, connectivity, and security. The meeting also touched upon regional dynamics, including the West Asia conflict. Jaishankar expressed gratitude for the safety of the Indian community…

The Economic Times

15 vessels carrying urea, DAP and Sulphur cross Strait of Hormuz safely: Govt

India's fertilizer supply chain remains robust despite West Asian conflict, with most shipments safely navigating the Strait of Hormuz. The government's proactive planning, diversified import sources, and boosted domestic production have ensured uninterrupted availability for farmers.

The Economic Times

Diplomatic relations, right decisions: PM Modi outlines how India weathered Iran war

Prime Minister Narendra Modi highlighted India's successful navigation of the West Asia crisis, attributing it to timely and correct decisions across all government levels. He described the conflict as the 21st century's biggest energy crisis, impacting nations globally.

The Economic Times

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Indian envoy to China rejects comparison with Pakistan on West Asia mediation

India's envoy to China, Vikram Doraiswami, firmly rejected any comparison with Pakistan over West Asia's mediation roles, attributing it to distinct economic realities. He advocated for autonomous assessments of mediation's benefits to national interests. Doraiswami highlighted India's active participation in global peace initiatives, acknowledging parallels with China's positions on recent…

The Economic Times

India real estate attracts USD 2.9 billion in Q2 Calender Year 2026; Chennai, Bengaluru drive 27% inflows

The report said domestic investments more than doubled to USD 1.33 billion during the quarter, accounting for 46 per cent of the total inflows. Foreign investments stood at USD 1.54 billion, contributing 54 per cent of the total despite global trade and capital deployment uncertainties arising from the West Asia…

The Economic Times

Mojtaba Khamenei to skip father Ali Khamenei's funeral over security concerns: Report

Iran's current Supreme Leader, Mojtaba Khamenei, will skip his father's funeral due to Israeli threats, according to a representative. This follows a stern warning from Iran's Foreign Minister to the US, urging them to control Israel after its Defence Minister declared Mojtaba Khamenei "marked for death." The US is reminded…

The Economic Times

Air India cuts fuel surcharges for North America, Europe flights

Air India has significantly reduced fuel surcharges on flights to North America, Australia, Europe, and the UK, effective July 1. This move follows a recent easing of oil prices after an earlier surge linked to the West Asia conflict. The airline had initially implemented higher surcharges in April due to…

The Economic Times

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Why petrol and diesel prices haven't fallen yet? Hardeep Singh Puri hints at rate cut after sustained low crude prices

Fuel prices might see a dip if international crude oil rates stay low for a few more weeks, according to Union Minister Hardeep Puri. Oil companies are currently using crude purchased at higher prices during the West Asia conflict, leading to past losses. However, sustained low global prices could pave…

The Economic Times

Air India Express restores all West Asia flights, resumes Salalah and Kuwait services

Air India Express has fully restored its West Asia flight network, reinstating services to Salalah and Kuwait. Flights to Salalah resumed on July 2, with Kuwait services restarting on July 3 and expanding from July 5. Bengaluru-Kuwait flights also recommence on July 4. This move reconnects passengers across the region,…

The Economic Times

Rs 1 lakh crore on crude imports will be saved by 2030, as 35 lakh EVs will replace petrol vehicles: SBI Report

India is poised for a significant electric vehicle surge, with an estimated 35 lakh petrol vehicles to be replaced by EVs between 2027-2030. This shift could slash crude oil import bills by Rs 1 lakh crore if EVs capture 20% of the market by 2030. The West Asia conflict has…

The Economic Times

Tel Aviv should build broader alliance from India to US via West Asia: Top Israeli defence official

Israel's top defence official proposed a new regional security architecture, advocating for a broad alliance from India to the US, encompassing West Asia and Europe. This initiative, he stated, is crucial given Iran's military buildup and aims to forge shared interests. A new US-Israel security pact, grounded in mutual interests,…

The Economic Times

India's economic plot twist comes with one villain stepping aside, another waiting

India's economic outlook has improved as falling crude oil prices ease inflation, strengthen the balance of payments and prompt economists to raise GDP growth forecasts. But the optimism comes with fresh risks, including an uneven monsoon, food inflation, geopolitical tensions in West Asia and uncertainty over global commodity prices, making…

The Economic Times

India's June crude imports hit record high as Russian supplies surge despite West Asia tensions

India's crude oil imports hit a record 4.93 million barrels per day in June, bolstered by substantial purchases from Russia, which solidified its role as the top supplier. This surge underscores India's robust supply chain resilience amidst global geopolitical tensions. Analysts highlight proactive diversification and procurement strategies as key to…

The Economic Times

Jet fuel price cut by Rs 5/litre as global oil prices ease

A significant drop in jet fuel prices, by nearly Rs 5 per litre, brings welcome relief to Indian airlines. This reduction, driven by falling international crude oil rates and easing West Asian tensions, is expected to lower operating expenses for domestic carriers. Meanwhile, commercial LPG cylinder prices also saw a…

The Economic Times

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The Economic Times

Nayara Energy cuts petrol price by Rs 5, diesel by Rs 3 amid softening oil prices

Nayara Energy has slashed petrol prices by Rs 5 and diesel by Rs 3 per litre nationwide, marking the first reduction in over two years. This move follows easing West Asian tensions and stabilizing global oil prices. While Nayara reverses its March price hike, state-owned retailers like IOC, BPCL, and…

The Economic Times

GIFT Nifty signals muted start for Dalal Street amid cautious trade

Indian markets experienced a volatile session ahead of monthly expiry, with the Nifty closing lower at 23,866. Geopolitical tensions in West Asia are expected to keep investor sentiment cautious, despite a dip in crude oil prices. Analysts suggest a mixed trend for equities, with the Nifty potentially hovering around 24,000,…

The Economic Times

Banks NPA at multi-decadal low of 1.8%, Indian financial system remains resilient: RBI report

India's financial system remains robust, with bank NPAs hitting a multi-decade low of 1.8%. Despite global uncertainties and rising oil prices, strong domestic fundamentals offer resilience. However, funding challenges are emerging as savers seek higher returns, and AI-driven cyberattacks pose a significant near-term threat to banks. The RBI remains vigilant…

The Economic Times

In phone conversation with Iran Prez, PM Modi reiterates importance of freedom of navigation in Hormuz

Prime Minister Modi held a telephonic discussion with Iran's President Masoud Pezeshkian, focusing on West Asian developments and the crucial freedom of navigation in the Strait of Hormuz. Modi emphasized dialogue and diplomacy for regional peace and stability. Iran's President also extended an invitation to Prime Minister Modi for the…

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The Economic Times

India's manufacturing growth expected to moderate in April-June due to West Asia crisis: FICCI

Indian manufacturing growth is set to slow in the first quarter of FY27, with a FICCI survey revealing muted business sentiment. This moderation is linked to the West Asia crisis, impacting production and order levels compared to the previous quarter. Despite these challenges, export performance shows positive signs, though manufacturers…

The Economic Times

West Asia crisis shifted Indian EV market from 'push mode to pull mode': Tata Motors MD

The West Asia war has significantly boosted electric vehicle adoption in India, shifting the market from a 'push' to a 'pull' mode, according to Tata Motors' Shailesh Chandra. He noted that rising fuel prices and concerns over availability are making consumers, especially in the entry-level segment, more open to EVs.…

The Economic Times

Economy resilient but risks from monsoon, geopolitical uncertainties remain: FinMin report

India's economy shows resilience despite a slight slowdown in some key indicators. While global commodity prices ease, risks loom from an uneven monsoon, potential El Nino, and geopolitical tensions. Policymakers are focusing on enhancing resilience to energy shocks and addressing water scarcity, with agricultural pricing policies also under review to…

The Economic Times

Govt extends customs duty waiver on import of key petrochemical products till July 15

The government has extended the nil customs duty on approximately 40 critical petrochemical products by another 15 days, now until July 15. This move aims to maintain supply stability for sectors like plastics, packaging, and pharmaceuticals, which rely on these imports. The temporary relief, initially granted due to West Asia…

The Economic Times

Manufacturing growth seen moderating in Q1 as West Asia crisis weighs on sentiment: FICCI

India's manufacturing sector anticipates a slowdown in April-June FY27, influenced by West Asia tensions impacting business confidence. Despite this, robust domestic demand offers some resilience. Production and order book expectations have softened, though capacity utilization remains steady. Encouragingly, export performance shows improvement, driven by diversification efforts. However, cost pressures persist,…

The Economic Times

Centre extends duty relief on key petrochemical products till July 15

The government has extended the import duty exemption on about 40 key petrochemical products by 15 days, now until July 15. This move aims to support domestic industries facing supply chain disruptions and rising costs due to West Asian tensions. The temporary relief, initially introduced in April, helps sectors like…

The Economic Times

Housing sales fall 6% across top 7 cities in Q2 as West Asia conflict dents buyer sentiment; launches rise 7%: ANAROCK

Persistent Systems' shares plunged nearly 11% following its announcement to acquire Germany-based Nagarro for €1.27 billion. While the deal aims to boost European presence and revenue, brokerages expressed caution over pricey valuations and execution risks.

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