The ongoing conflict in the Middle East could pose short-term challenges for the Indian economy by pushing up oil prices and disrupting trade flows, though the country’s long-term growth trajectory is unlikely to be significantly affected, according to Nagesh Kumar, an external member of the Reserve Bank of India’s Monetary Policy Committee (MPC).In an emailed…
India is seeking support from the United States to secure marine insurance cover for vessels transporting oil from the Middle East, as the government looks to ensure continuity of energy supplies amid disruptions in the Strait of Hormuz, a senior oil ministry official told PTI.The move comes as the widening conflict in West Asia has…
Maharashtra continues to remain India’s largest state economy in absolute terms, but its economic growth has been the slowest among the country’s four biggest state economies over the past four years, according to official data.The state’s Gross State Domestic Product (GSDP) is projected at Rs 42,67,771 crore in 2024-25, the highest among all states, reported…
The average long-term US mortgage rate edged higher this week, ending a three-week decline as bond yields rose amid oil-price pressures linked to the war with Iran.The benchmark 30-year fixed mortgage rate increased to 6% from 5.98% last week, mortgage buyer Freddie Mac said on Thursday. A year ago, the average rate stood at 6.63%,…
US stock markets fell on Thursday as investors turned cautious after the previous session’s rally, while rising oil prices and geopolitical tensions weighed on sentiment.The Dow Jones Industrial Average dropped 801 points, or 1.6 per cent, dragged down by losses in stocks such as Caterpillar and Goldman Sachs. The S&P 500 declined 0.9 per cent,…
In a move that will benefit thousands of state employees, the Madhya Pradesh government has decided to increase the dearness allowance (DA) to 58%, aligning it with the rate currently given to central government employees.The revised allowance will be applicable from April 2026 and will be paid with the May salary. The decision also covers…
Petroleum is the most immediate area of exposure. In 2025, India sourced roughly $70 billion crude oil and petroleum products from West Asia. (AI image) Beyond oil, the Middle East crisis has other implications for the Indian economy, especially if the US-Israel-Iran war continues for a long duration leading to major supply disruptions. In recent…
NEW DELHI: India on Thursday reiterated that it’s in a comfortable position with regards to energy supply, amid the Middle East tensions.Country’s energy situation is being reviewed twice a day and remains in a comfortable position on energy security despite the escalating tensions in West Asia, government sources, cited by ANI, said. India Confident To…
Rising tensions in West Asia and the possibility of disruption to shipping through the Strait of Hormuz could pose a serious threat to India’s tea exports to key Gulf markets, industry representatives have warned.The Tea Association of India said a large share of the country’s tea shipments to the Persian Gulf region moves through the…
Benchmark indices Sensex and Nifty rebounded sharply on Thursday, rising more than 1 per cent as Indian equities tracked a rally in global markets following recent heavy losses triggered by the conflict in West Asia.Snapping a four-session losing streak, the 30-share BSE Sensex surged 899.71 points or 1.14 per cent to close at 80,015.90. During…
