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India counters Iran war shocks with fuel hikes gold curbs and export bans to defend reserves
Economy
Published on 15 May 2026
Delhi officials told to work from home twice weekly
India is deploying emergency measures to shield the economy from Iran war fallout. State oil refiners raised gasoline and diesel prices by over 3% after crude surged, while authorities tightened gold import rules and temporarily banned sugar exports. Delhi government staff were asked to work from home twice a week to conserve fuel. With the rupee slipping past 96 per dollar, a widening trade deficit, and foreign investor outflows, officials are also exploring incentives for foreign bond investors.
- Fuel prices jumped more than 3% as crude surged.
- Gold import rules were tightened by authorities.
- Sugar exports were temporarily banned to protect domestic supply.
- Delhi government staff work from home twice weekly to save fuel.
- Rupee slid past 96 per dollar to record lows.
- Foreign investor outflows exceeded last year’s record $19 billion.
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times