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trade deficit and high gold imports.The impact of the war-led disruptions—built on top of the calibrated depreciation—pushed the rupee towards a level not previously anticipated. Even then, economists believe that the RBI should not defend the rupee too much as it may provide temporary relief, but could stoke sharper depreciation later."If this is a long-drawn-out crisis, you want to preserve your forex reserves because when we got into trouble in 2013, our reserves went down, then the taper tantrum made it worse," said Gaura Sengupta, chief economist at IDFCFirst Bank.Forex reserves declined 3.4% and 0.6% in FY12 and FY13, but failed to arrest the rupee’s decline.

Mint, he said such corrections often create compelling entry points for long-term investors.Markets tend to react sharply to geopolitical events, especially in the early stages. However, over time, volatility usually stabilizes as markets adjust. What makes the current situation more complex for India is its dependence on energy imports.

Vietnam War. It was 8 June 1972. Dozens of children were running for safety after the US bombing in Vietnam’s Trang Bang region.

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Reserve Bank of India had adopted the inflation-targeting regime in 2016. While some have argued for raising the target or shifting focus from headline to core inflation, the dominant view is that the framework has broadly worked.Data shows inflation breached the band in only three of the past 10 years—two instances (2020–21 and 2022–23) driven by the pandemic and the Russia–Ukraine war.

Give credit where it’s due. Despite all the setbacks, Donald Trump is right that the US-Israeli war in Iran war hasn’t triggered the oil price super-spike many feared—at least not yet. “I thought it would be worse, much worse,” the American president said last week, and it’s hard to disagree.

, traders say, can be chalked up to WTI’s location, far from where the oil is needed in Asia. Its lower price also reflects the higher shipping costs required to get it to Asian buyers, as well as angst that the U.S.

The juxtaposition of the Russia-Ukraine war and unfolding US-Israel-Iran war offers a compelling window to the evolving character of contemporary warfare. One is a protracted, grinding contest of endurance; the other, a sharp demonstration of rapid, multi-domain coercion. Yet, taken together, they underline a common truth: technological change has not simplified war, it has made it more complex, more diffuse and less predictable.

fertilizer. For plants, nitrogen is a vital nutrient for growth—without it they cannot convert sunlight into energy. If all crops knew how to synthesize nitrogen from the air (which is available freely), there would be no need for urea.

Five major central banks—the US Federal Reserve, the European Central Bank, the Bank of England, the Reserve Bank of Australia, and the Bank of Japan—met this week to deliver their rate decisions. Four of the five opted to pause and continue with existing policy rates.

One way or the other, an extended West Asia war will impact earnings growth, said Ajay Tyagi, senior executive vice president and head of Equity at UTI Asset Management Co.He believes, “If markets remain flat or correct further, leading to poor two-three year returns, SIP (systematic investment plan) flows may slow down”.Tyagi, who directly manages about ₹2.5 trillion worth of assets, explained that while the structural shift of household savings into markets remains strong, it will see ebbs and flows rather than move in a straight line.He said that SIP inflows, currently around $3 billion, will have their own cycles and are unlikely to keep rising indefinitely.Edited excerpts:For large caps, the correction is mostly over, as they have reached a fair valuation zone. While not yet ‘cheap’, which would mean falling below long-term averages, they are close enough to offer comfort.

You might have heard that the conflict in the Strait of Hormuz is going to leave poor countries starving. That’s not quite right. The reality may be almost as serious, though—and China will be the victor.The theory stems from the importance of the Persian Gulf in the world’s fertilizer trade.

. Eyyub was pitted against a trader from Pakistan, Murtaza Lakhani, according to people familiar with their operations.As Eyyub, Lakhani and a few other traders competed, the price of Russian oil recovered. Rosneft’s crude found new buyers, particularly in India.But Eyyub muscled out his rivals.

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Gail (India) Ltd’s shares have declined about 12% since the conflict in West Asia began, hitting 52-week low of ₹144.50 on Monday. The Strait of Hormuz blockade and QatarEnergy's suspension of operations at its LNG plant would hit Gail’s transmission and marketing businesses.As per Elara Capital, the state-owned company transported 123 million standard cubic meter (mmscmd) of natural gas in 2025, and about 30% of it came from sources that pass through or are close to the Strait and are stalled currently.The marketing segment traded volume of 105 mmscmd in 2025, and its dependency is less at 16%, thanks to diversified contracts from the US, Russia, and Australia.

The Indian stock market is in a clear downtrend. We had barely taken a breather from harsh tariffs, and now we find ourselves caught up in the consequences of a war.Given our dependence on oil and gas imports and trade with West Asia, this has serious implications for India. And the markets are reflecting that.The pain is much sharper in broader markets than what indices reflect.

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Foreign investors appear to be finding comfort in India’s power sector amid heightened geopolitical tensions and energy market disruptions, drawn by rising demand for electricity and growing data centre capacity.They bought power stocks worth $497 million in February, according to data from the National Securities Depository Ltd. That marked the strongest inflow by foreign investors since they pumped in $517 million in April 2024.Several power stocks delivered solid gains in February, when the benchmark Nifty 50 index slipped 0.6%.

fertilizer industry is coordinating with the Centre and states on increasing supply from more countries, the Fertiliser Association of India (FAI) said. “Production planning, imports and logistics are being actively coordinated to maintain adequate availability during the upcoming cropping season.