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…
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…
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…
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…
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…
The United States will not extend to India the kind of sweeping economic concessions it once granted China, said Deputy Secretary of State Christopher Landau on Thursday, claiming that those incentives allowed China to emerge as a rival.Speaking at the Raisina Dialogue, India’s flagship conference on geopolitics and geoeconomics, Landau made it clear that while…
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,…
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%,…
