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The Latest Breaking News from West Asia

A ₹3 lakh crore rain check? India’s monsoon now comes with a Hormuz fine print

India’s fertiliser supply chain is under strain as the West Asia conflict disrupts shipping through the Strait of Hormuz, a critical route for imports. The crisis comes just as India faces a below-normal monsoon forecast, with the IMD projecting rainfall at 90% of the long-term average and a 92% probability…

The Economic Times

Indian Railways achieves 145 million tonnes freight loading in May despite global headwinds

The increase in loading has been achieved despite challenges arising from the ongoing geopolitical situation in West Asia and its indirect impact on logistics and supply chains. Indian Railways remained focused on ensuring uninterrupted movement of essential commodities across the country through continuous operational monitoring and efficient asset utilisation, it…

The Economic Times

India's CPI inflation expected to rise to 4.8% with crude oil averaging USD 90/bbl in FY27: Report

Forecasts indicate that by FY27, India’s inflation could hit 4.8%, driven by crude oil prices projected at USD 90 per barrel. Factors such as the ongoing conflict in West Asia and a less favorable monsoon outlook are pivotal. Economic growth might taper to 6.3%, with both fiscal and current account…

The Economic Times

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Banks sanction Rs 35,000 cr loans under ECLGS to MSMEs to deal with West Asia crisis

Banks have disbursed Rs 35,000 crore in loans under the Emergency Credit Line Guarantee Scheme. This initiative supports MSMEs and industries affected by the West Asia conflict. The scheme aims to provide crucial liquidity and prevent job losses. It offers additional credit and guarantees to eligible businesses.

The Economic Times

Fragile ceasefire faces fresh test as missiles keep flying as Iran, US trade new blows: Key details

Tensions in West Asia surged as Iran's IRGC claimed to target a US military base, while Washington announced fresh strikes on Iranian radar and command-and-control sites. Kuwait's air defense systems also responded to drone and missile attacks amid ongoing exchanges and diplomatic efforts.

The Times of India

RBI MPC meet: Central bank likely to maintain status quo on rates, adopt cautious approach amid West Asia crisis

Experts anticipate the Reserve Bank of India will maintain its key policy rate at 5.25 percent this week. The central bank is expected to adopt a cautious approach, considering potential inflation headwinds and growth challenges. Factors like West Asia turmoil, rising energy prices, and a weakening rupee are influencing this…

The Economic Times

Shivraj Chouhan to launch 'Khet Bachao Abhiyan' on June 1 as Govt reviews fertiliser, fuel stocks amid West Asia crisis

Union Agriculture Minister Shivraj Singh Chouhan launches Khet Bachao Abhiyan nationwide from June 1. The campaign aims to reduce excessive fertiliser use and promote balanced application. It will run until June 30, starting from Raisen, Madhya Pradesh. The minister will visit farms across the country. This initiative supports the Prime…

The Economic Times

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Private investment, not West Asia crisis, is India's growth challenge: Surjit Bhalla

Economist Surjit Bhalla states weak private investment is hindering India's economic growth. He believes strong GDP numbers earlier were misleading, driven by government spending. Bhalla argues private investment is more efficient. He dismisses the West Asia crisis as the primary cause. Bhalla suggests policy changes after 2015 made it difficult…

The Economic Times

Petrol, Diesel Prices on May 31: Has your city's fuel rate changed? Check how much you'll pay in Delhi, Mumbai, Bengaluru, Kolkata and other cities

Petrol, Diesel Prices on May 31: Fuel prices remained unchanged on Sunday, May 31, after a series of recent hikes pushed petrol and diesel rates to their highest levels since 2022. The increase in fuel prices has been driven by rising global crude oil prices following supply disruptions in West…

The Economic Times

"Govt has to raise electricity bills amid West Asia crisis, people should take it positively": UP Minister on 10% electricity bill hike

Uttar Pradesh residents will face a 10 percent rise in electricity bills starting June. This increase is attributed to escalating fuel costs and the Fuel and Power Purchase Adjustment Surcharge. Minister Narendra Kashyap urged citizens to view this revision positively. The UP Power Corporation Limited confirmed the surcharge is in…

The Economic Times

From West Asia to the Indian Ocean, maritime security challenges are interconnected; Op Sindoor proved readiness, says Navy Chief

Chief of Naval Staff Admiral Dinesh K Tripathi highlighted that India's security is increasingly impacted by global events, with maritime security intrinsically linked to economic and energy security. He emphasized the need for jointness and integration among armed forces, while the Navy actively monitors strategic developments in the Indian Ocean…

The Economic Times

El Niño effect: Why India may see weak monsoon and harsher summer

India faces a double blow as the IMD forecasts below-normal monsoon rainfall, with a 60% chance of deficient rains due to El Niño. This, coupled with the West Asia crisis impacting agricultural inputs, threatens the farm sector and the rural economy, potentially leading to broader economic challenges.

The Economic Times

Resilient Indian economy may face West Asia headwinds; El Nino impact likely on agri output: RBI

As energy prices surge and supply chain disruptions persist, India's economic landscape is indeed testing its resilience; yet, robust financial health among corporations and banks, bolstered by proactive government investments, is set to fuel progress, the RBI said.

The Economic Times

Energy prices, current account deficit, balance of payments big priorities right now: CEA

Managing macroeconomic fundamentals like balance of payments and current account deficit is a top priority for the government. The West Asia conflict has caused a global energy shock. Chief economic advisor V Anantha Nageswaran highlighted this urgency. He also spoke on securitisation and microfinance thresholds. Priority Sector Lending mandates are…

The Economic Times

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The Economic Times

India steers boat through a risky channel between war clouds and El Nino

India faces a challenging global economic outlook for 2026-27. Geopolitical tensions and volatile oil prices are key concerns. However, India is building resilience through infrastructure, manufacturing incentives, and reduced import dependence. The nation is positioning itself as an investment destination amidst global uncertainty. Domestic demand and strategic initiatives offer a…

The Economic Times

West Asia conflict a stagflationary shock; world economy not ready for a long war: Bank of America

The West Asia conflict has triggered a stagflationary shock, impacting global growth and inflation. Bank of America forecasts a lower global growth projection, with disruptions in the Strait of Hormuz being a critical factor. Oil prices are expected to remain elevated, impacting energy importers, while central banks face difficult decisions.

The Economic Times

'Very close': JD Vance says US nears agreement on Strait of Hormuz, Iran nuclear setback

US Vice President JD Vance said Washington is "very close" to achieving a broader strategic agreement in West Asia, asserting that recent US actions will reopen the Strait of Hormuz, weaken Iran's conventional military capabilities, and position the United States to significantly delay Tehran's nuclear programme.

The Economic Times

West Asia War: US-Iran draft 60 day-truce extension, all eyes on Trump nod, says US official; Tehran denies claims

A fragile ceasefire between the United States and Iran is reportedly extended for 60 days. Formal talks on Tehran's nuclear program are set to begin. The proposed deal aims to restore shipping through the Strait of Hormuz. Iran commits to not pursuing nuclear weapons. Discussions will cover uranium stockpiles and…

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The Economic Times

West Asia conflict may slow India’s growth, push up Inflation: SBI Chairman

State Bank of India Chairman Challa Sreenivasulu Setty warns the West Asia conflict may slow global growth and increase inflation. India remains resilient due to strong domestic demand and public investment. However, spillover effects could impact India's GDP growth and inflation in FY2027. Policymakers and financial institutions must remain agile…

The Economic Times

IMEC, Indo-Pacific routes key to reducing Hormuz dependence: EY

India is urged to diversify its trade routes and develop new corridors like IMEC and the Indo-Pacific route. This aims to lessen dependence on the Strait of Hormuz amid West Asia tensions. The nation must prepare for economic shocks by building strategic reserves and shifting towards green energy.

The Economic Times

CV industry showing resilience, not much impact of fuel price hike on demand: Ashok Leyland MD

The Indian commercial vehicle sector shows remarkable strength. Fuel price increases from the West Asia conflict have not significantly impacted demand. Lower GST rates and the replacement of old vehicles are driving sales. Ashok Leyland expects continued strong performance in April and May. Operations in the UAE are normalizing after…

The Economic Times

Air India extends suspension of flights on Tel Aviv-Delhi route till July end

Air India has extended its flight suspension on the Tel Aviv-Delhi route until July end on Thursday. This decision comes amid ongoing geopolitical uncertainties in West Asia. The airline had previously suspended operations until June end. This extension impacts over 40,000 Indians residing in Israel. Limited travel options are also…

The Economic Times

Engineering Goods exports stay positive despite West Asia crisis, rise 9% in April,2026

While most regions saw gains, WANA and ASEAN experienced declines. The industry emphasizes addressing non-tariff barriers to maximize FTA benefits.

The Economic Times

Jaishankar, Ukrainian FM discuss war, peace efforts amid evolving battlefield situation

India's External Affairs Minister S Jaishankar met Ukraine's Foreign Minister Andrii Sybiha in Cyprus. They discussed the ongoing Russia-Ukraine conflict and ways to achieve lasting peace. Both sides exchanged views on battlefield developments and global engagement for peace. India reiterated its call for dialogue and diplomacy. Jaishankar also held separate…

The Economic Times

Amid West Asia tensions, Trump says Iran ‘negotiating on fumes’; seeks $1.5 trillion US military boost

America's President Donald Trump is seeking a massive $1.5 trillion investment for the US military. He stated Iran is eager to reach a deal with Washington. Trump asserted Iran's military and economy are severely damaged. He emphasized that Iran will not be permitted to develop nuclear weapons. The President believes…

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