Washington, April 15 (IANS) In the wake of the Iran-US war, rising crude oil prices and broader commodity pressures could complicate India’s inflation outlook and raise production costs across sectors, Chief Economic Advisor V. Anantha Nageswaran warned on Wednesday. Speaking at the US-India Economic Forum 2026, Nageswaran said the impact of global conflict extends beyond crude prices to a wider set of critical inputs. “It is not purely about the price of oil… it is about the commoditie…
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Washington, April 15 (IANS) War in the Middle East is threatening to slow global growth and push up prices, IMF officials warned, as supply disruptions spread across energy markets and trade flows.The International Monetary Fund said the conflict has created “exceptional uncertainty” in the global outlook, forcing a reassessment of forecasts. Deputy Managing Director Bo Li said all scenarios now point to “higher price and lower growth and slower growth.”The impact is already visible acro…
Washington, April 15 (IANS) US President Donald Trump said a second round of direct talks with Iran could take place “over the next two days,” signalling a possible diplomatic opening even as the United States presses ahead with a naval blockade targeting Iranian-linked shipping.In an interview with The New York Post, Trump said negotiations could happen soon and pointed to Pakistan as a possible venue. “Something could be happening over the next two days, and we’re more inclined to go t…
Washington, April 14 (IANS) The global economy has taken a hit from the ongoing conflict in the Middle East, with growth projections lowered despite strong underlying momentum driven by technology investment and private sector resilience, the International Monetary Fund (IMF) said Tuesday.Speaking during a group interview with reporters from India, Japan, the UAE, the Netherlands and Chile, IMF Chief Economist Pierre-Olivier Gourinchas said the conflict has reversed earlier expectations of a mod…
New Delhi, April 6 (IANS) Saudi Arabia on Monday increased the price of its flagship crude as state-owned Saudi Aramco has set the official selling price of its Arab Light crude for May shipments at a record premium of $19.50 per barrel over the regional benchmark for Asian buyers.The steep hike comes as energy flows through the Strait of Hormuz face severe disruptions, according to reports.The move follows heightened tensions linked to the ongoing conflict involving the US, Israel, and Iran, wh…
New Delhi, April 5 (IANS) External Affairs Minister (EAM) S. Jaishankar on Sunday said he received a call from his Iranian counterpart, Abbas Araghchi, during which the two leaders discussed the prevailing situation in the region.EAM Jaishankar, in a post on X, said: “Received a call from Foreign Minister @araghchi of Iran. Discussed the present situation.” He, however, did not elaborate on the specifics of the conversation.The interaction comes amid rising tensions in West Asia, particularl…
New Delhi, March 27 (IANS) Union Finance Minister Nirmala Sitharaman on Friday said the Centre’s decision to slash excise duty by Rs 10 on petrol and diesel was aimed at protecting citizens from the impact of rising global crude oil prices, asserting that the government has chosen to absorb the burden rather than pass it on to consumers.Addressing the media, Sitharaman said the move reflects Prime Minister Narendra Modi’s clear policy approach of ensuring price stability and adequate fuel su…
New Delhi, March 25 (IANS) India’s rapid transition toward renewable energy is no longer just an environmental priority—it has become a cornerstone of economic resilience, strategic autonomy, and long-term energy security.As global energy markets face repeated disruptions, India’s aggressive push toward clean energy is positioning the country as one of the fastest-growing renewable powerhouses in the world.The country has already crossed a critical milestone, with 51.93 per cent of its ins…
Washington, March 22 (IANS) US Transportation Secretary Sean Duffy has warned that the ongoing conflict with Iran is pushing up fuel and travel costs, saying it is the rising cost burden that is now affecting American consumers even as supply chains remain stable.In an interview on ABC News’ This Week with George Stephanopoulos, Duffy said airlines are not facing supply shortages but are under pressure from higher fuel prices. “It is the cost, right?” he said.The warning comes as fuel pric…
Tehran, March 14 (IANS) Iran on Saturday accused the United States of double standards over Russian oil, saying that Washington was now “begging” countries to purchase the same crude it had earlier tried to block through pressure and sanctions.In an X post, Iran’s Foreign Minister Abbas Araghchi slammed the US, alleging that it had spent months pressuring India to halt imports of Russian oil but had now shifted its position as tensions with Iran disrupted global energy markets.”The US spent mont…