Tag: Iran War impact on India

Indian Oil will share the LPG shipment from Iran with its state-owned peers BPCL and HPCL. (Reuters)
Posted in Business

Indian Oil buys first Iranian LPG since 2018 as shortage worsens| Business News

Indian Oil Corp. has bought LPG from Iran for the first time in almost eight years, according to people familiar with the matter, as India…

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India is the second largest producer of crude steel in the world. (Reuters)
Posted in Business

India’s Steel Ministry seeks intervention for mills facing LPG shortage| Business News

India’s steel ministry has sought assistance of the oil ministry to ensure that steel plants in the country are not affected by the LPG shortage…

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The services industry, which accounts for the majority of India's GDP, also lost ground with the PMI easing to 57.2 in March from 58.1 in February.
Posted in Business

India’s private sector growth hits three-year low as Iran war saps demand| Business News

India’s private sector expanded at its weakest pace in over three years in March as price shocks from the Iran war dampened domestic demand, yet…

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Posted in Economy

India’s limited oil buffers, reliance on subsidies heighten risks from Middle East conflict, Moody’s warns

India’s heavy reliance on oil imports from the Gulf, coupled with relatively limited strategic reserves, leaves it vulnerable to rising energy prices and potential supply…

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India needs a forex reserve buffer of at least $1 trillion for robust intervention capacity, according to former RBI Deputy Governor Michael Patra. (Reuters)
Posted in Business

RBI’s defence of rupee vs dollar is weighing on India’s forex reserves| Business News

The Reserve Bank of India’s recent defence of the rupee vs dollar is weighing on the nation’s foreign exchange reserves, prompting calls from some analysts…

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Signage during India Energy Week in Goa in January 2026. India imports about 90% of its crude oil and nearly half of its LPG. (Bloomberg)
Posted in Business

Iran war impact to show on India GDP, inflation in risk to ‘Goldilocks’ economy| Business News

Surging crude oil prices and acute LPG shortage are rippling through the Indian economy as the Iran war drags on, disrupting industries and prompting analysts…

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An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the Iran war, in Shinas, Oman, on 11 March 2026. The Iran war, and the consequent blockade of the Strait of Hormuz, threatens to close the “goldilocks” trade window for India's economy. (Reuters)
Posted in Business

India’s trade deficit narrows before Iran war impact shows on economy| Business News

India’s trade deficit narrowed more than expected in February as a cooling import bill offset stagnant exports, but that was before the Iran war took…

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PhonePe has enabled biometric payments on its UPI app.
Posted in Business

PhonePe IPO put on hold as Iran war rattles stock market| Business News

PhonePe Ltd. has deferred its much-awaited IPO in India, citing the impact of the ongoing Iran war on investor sentiment and the wider stock market….

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India has asked refiners to avoid using propane and butane, which together compose liquified petroeleum gas (LPG), for petrochemical production. (AFP)
Posted in Business

India tells refiners to maximise LPG output for domestic sales only| Business News

India has directed all its refiners to maximise LPG production for sale to state-run oil marketing companies, amid a has squeeze stemming from the Iran…

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As part of the interim India-US trade deal, New Delhi has agreed to abstain from Russian oil imports, which, according to Washington DC, is fuelling Russia's war in Ukraine. (Reuters)
Posted in Business

Indian Oil-led refiners snap up 20 million barrels of Russian oil amid Iran war squeeze| Business News

Indian refiners, led by Indian Oil Corp. Ltd. are rushing to secure millions of barrels of prompt Russian crude as New Delhi scrambles to mitigate…

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