Global growth outlook weakens as the Iran war lifts energy prices and inflation pressures across economies.
Global growth prospects have been revised downward after the Iran war disrupted economic momentum, with higher oil and gas prices expected to weigh on activity and inflation. The International Monetary Fund lowered its global growth forecast and raised its inflation outlook, noting that the conflict has stalled earlier resilience in the world economy and that downside risks remain elevated if energy shocks persist or spill into next year. The revised outlook reflects uneven regional effects, with energy-importing and heavily indebted poorer economies facing sharper pressure, while energy exporters may benefit from higher prices.

Russian crude imports surge as India's state refiners resume purchases after sanctions waiver and EU ban scrutiny intensifies.
India's crude oil imports from Russia more than tripled in March 2026, with Russian crude accounting for the overwhelming share of the country's Russian hydrocarbon purchases and the increase driven by higher volumes and rising prices. The surge followed a one-month sanctions waiver on Russian oil, after which state-owned refiners resumed purchases and recorded the sharpest month-on-month increase, while private refiners also increased imports but to a lesser extent. The article also notes downstream trade flows involving refineries processing Russian crude and shipments of oil products into sanctioning markets despite the European Union ban.

Oil prices fall as hopes rise for renewed US-Iran talks and easing Strait of Hormuz disruption risks.
Global equity markets advanced and oil prices declined amid hopes of renewed US-Iran talks on de-escalation of the Iran war, following inconclusive ceasefire discussions and reports that a second round of talks may be considered before a temporary ceasefire expires. The market move reflected investor expectations that continued diplomatic engagement could ease disruption risks linked to maritime traffic in the Strait of Hormuz, where supply concerns had earlier pushed crude higher.

Luxury watch market faces uncertainty as war, tariffs, and weaker demand pressure exports and sales.
The luxury watch industry faces renewed uncertainty as war in the Persian Gulf, higher energy costs, logistics disruptions, and weaker consumer confidence affect demand and trade conditions. Geneva's Watches and Wonders fair opens amid market contraction, with pressure on exports and sales in Gulf markets, including reduced tourist traffic in key retail hubs. Swiss-made watches continue to dominate the global luxury watch market, while non-Swiss competitors are emerging as challengers.

West Asia military escalation threatens poverty, food security, and livelihoods in India through energy, trade, and remittance shocks.
West Asia military escalation is projected to intensify poverty, food insecurity, and human development losses across Asia and the Pacific by raising fuel, freight, and input costs and weakening livelihoods. The report estimates a rise in poverty incidence in India, alongside a modest loss of Human Development Index progress, and identifies significant exposure through West Asian energy, fertiliser, trade, remittance, and labour-market linkages. It also warns that MSMEs, informal workers, and sectors dependent on imported inputs may face higher costs, supply disruptions, and employment shocks.

Export growth slowdown reflects uncertainty from the Iran war and weaker global demand for Chinese goods.
China's export growth slowed sharply in March, with exports rising 2.5 per cent year-on-year after much faster growth in the previous two months. The weaker performance was reported alongside concerns that the Iran war may increase uncertainty for energy prices and global demand, potentially affecting Chinese exports. Imports rose strongly in March, and technology-related shipments, including semiconductors, remained a significant support to export performance in early 2026.

Special Economic Zone exports rise despite tariff pressures and West Asia conflict, led by pharmaceuticals and overseas demand.
Exports from the Indore Special Economic Zone rose by nearly 10.50 per cent to Rs 14,302 crore in financial year 2025-26, despite concerns over US tariff policies and the West Asia conflict. Pharmaceuticals formed about 70 per cent of the export basket, with the US among the main markets. The zone contains units across pharmaceuticals, packaging materials, engineering, textiles and food processing in the Pithampur industrial area near Indore.

LPG and PNG supply measures expand domestic fuel access as India responds to West Asia disruption.
India has increased supply of smaller 5-kg LPG cylinders and accelerated PNG connections to manage fuel availability amid West Asia disruption. The response prioritises domestic household LPG, expands market-priced cylinders for users without subsidised connections, restores commercial LPG availability through targeted allocations, and directs natural gas toward household PNG, CNG transport and fertiliser plants. The broader supply strategy also includes higher domestic production, strong refinery utilisation, excise duty cuts on petrol and diesel, and higher export levies on diesel and aviation turbine fuel.

Export disruptions from the West Asia crisis are raising freight, input and gas costs for Ludhiana manufacturing units.
Export-oriented manufacturing units in Ludhiana are facing labour shortages, inadequate gas supply, rising input costs and logistics bottlenecks from the West Asia crisis, affecting production and exports. Handtool, basmati rice, ecotech and garment units report higher freight, insurance and raw material costs, shipment delays and reduced access to Middle Eastern markets, while some are using alternate fuels and seeking government support for worker housing.

Windfall tax on diesel and aviation fuel rises to curb export gains and support domestic supply.
Export duty, described as a windfall tax, was increased immediately on diesel and aviation turbine fuel to raise domestic availability of these fuels and prevent exporters from benefiting from widened global price differences during the West Asia conflict. The duty on petrol remained nil. The revised duty structure replaced earlier lower rates imposed on diesel and ATF, with the new rates taking effect at once under the finance ministry notification.

Fisheries exports grow through market diversification after tariff pressure, with new overseas demand supporting a higher export target.
Fisheries exports increased after US tariff measures as exporters and officials expanded sales into new overseas markets. The growth is linked to diversification into Europe, Latin America, the Middle East and Asia, with prawns, tuna and other fish varieties among the principal exports. The government has also set a higher medium-term export target and is supporting the sector through ministry-level market outreach and other initiatives to strengthen fisheries, animal husbandry and dairy development.

Development financing gap widens as aid cuts, tariffs, and stalled financial reform deepen pressure on poorer nations.
A UN report says the widening gap between rich and poor nations is being aggravated by unfulfilled commitments to reform global financial institutions and expand development financing. The report says the Seville Commitment, adopted to close the development financing gap and support 2030 goals, has not been fully implemented, while geopolitical tensions, trade barriers, climate shocks, and reduced aid are worsening conditions for developing countries. It also notes sharp rises in tariffs on exports from the poorest and other developing nations.

Energy cooperation deepens as India and the United States explore civil nuclear ties, coal gasification and LPG exports.
India and the United States discussed expanding energy cooperation through deeper bilateral energy trade, enhanced energy security and new areas of collaboration in nuclear power, coal gasification and LPG exports. The discussions reflected support for strengthening the India-US Energy Partnership and indicated readiness for cooperation in civil nuclear matters alongside other energy supply and transition linkages. The wider policy context included India's civil nuclear framework under the SHANTI Act.

Reliable energy supply and free navigation drive India-Qatar talks amid regional disruptions.
India and Qatar reaffirmed strategic energy cooperation amid West Asia tensions, with Qatar stating that it would remain a reliable energy supplier to India. The talks focused on stability in global markets, an early end to disruptions in energy supplies, and restoration of normal trade flows after conflict-related interruptions affected regional exports and supply chains. Both sides welcomed the ceasefire and stressed unimpeded freedom of navigation and the global flow of commerce to support supply chains.

Global supply chain management training expands with a new online certificate for working professionals in India.
A higher education collaboration has been announced to launch a Master Certificate in Global Supply Chain Management in India, combining Michigan State University's academic instruction with TimesPro's online delivery platform and Bisk Education's digital learning support. The 24-week, 100% online programme is designed for working professionals seeking stronger capabilities in procurement, logistics, operations and global supply chain strategy. It includes core modules and specialisation tracks covering supply chain management, logistics strategy, supply risk, sustainability, global market dynamics and the regulatory realities affecting international trade and logistics.

Electronics manufacturing growth gains momentum as Uttar Pradesh positions itself as a major investment and value-chain hub.
Electronics manufacturing in Uttar Pradesh is being positioned as a major industrial growth area through the electronica India and productronica India 2026 platform in Greater Noida, alongside policy signalling, infrastructure readiness, investment facilitation, and expansion of the Noida-Greater Noida corridor as a manufacturing base. Government leaders highlighted a stable policy environment, ease of doing business, rising exports, and support for manufacturing-led growth, with emphasis on moving beyond assembly toward component manufacturing and value-chain integration.

Textile sector growth gains momentum through export expansion, policy support, technology adoption and sustainability-driven manufacturing.
India's textile sector is supported by policy initiatives, export expansion goals and rising global demand, with Vision 2030 targeting higher exports through stronger domestic manufacturing and a larger global footprint. The Union Budget 2026-27 places the sector at the centre of employment, export growth, rural livelihoods and sustainable manufacturing, while growth is also being driven by the Production Linked Incentive scheme, technological advancement, sustainability practices and e-commerce expansion.

India growth outlook stays robust as domestic demand, easing financing conditions, and trade factors support expansion.
India's growth outlook is projected to remain robust in the current fiscal year, supported by strong domestic demand, easing financing conditions, and lower tariffs on Indian goods. The next fiscal year is expected to see higher growth from domestic reforms, trade agreement effects, and expected government salary increases. Inflation is forecast to rise in the current fiscal year due to higher food and oil prices before easing as oil prices soften.

Energy supply security drives talks on restoring LNG and LPG shipments amid Middle East disruptions.
India is seeking to secure uninterrupted energy supplies amid geopolitical disruptions that have affected liquefied natural gas and LPG flows from the Middle East. Qatar, India's largest supplier of LNG and a major supplier of cooking gas, had halted supplies after the conflict in the region and the shutdown of a key export facility led to a declaration of force majeure on gas exports. Discussions are expected to centre on resumption of shipments, review of existing arrangements and strengthening bilateral energy cooperation.

Energy security and cross-border power trade shape India-Bhutan cooperation through hydropower, clean energy and technical agreements.
India-Bhutan bilateral engagement focused on strengthening cooperation in energy security, sustainable development, clean energy, hydropower and regional power trade. Discussions covered an enhanced bilateral institutional framework for regular review and coordination of initiatives, including non-hydro energy, cross-border transmission, project financing, capacity building and institutional partnerships. The parties also signed the Tariff Protocol for the Punatsangchhu-II Hydroelectric Project and a methodology for reactive energy accounting to support grid stability and cross-border electricity exchange.