Indian gems and jewellery exports fell 9.07% in April 2026 to US$ 2,448.53 million (Rs. 20,952.26 crore), as geopolitical tensions in West Asia pushed buyers toward caution. Cut and polished diamond exports dropped 19.65%, even as cut diamond imports rose sharply on replenished stocks and hopes of global demand recovery. Plain gold jewellery exports fell 47.06% amid high gold prices, while studded gold, silver, and platinum segments posted strong growth.
Indian equities extended losses for a fourth straight session, with Sensex and Nifty falling nearly 2% as elevated Brent prices, a record-weak rupee, and persistent FII selling battered risk sentiment. Brent rose to about $107, the rupee hit a lifetime low near 95.63, and FIIs sold over Rs 8,400 crore. Analysts cite a broader confidence shock tied to US Iran uncertainty.
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Global markets are holding up as investors increasingly prioritize AI and technology rather than escalating West Asia tensions. The prevailing view is that any conflict will be brief, letting capital return to future tech growth—especially in the US and Europe. Attention is also turning to a potential Trump-Xi meeting that could reshape US-China tech rivalry and investment expectations.
Indian businesses are reassessing spending and work-from-home practices after Prime Minister Narendra Modi urged citizens to save foreign exchange amid West Asia tensions. Industry leaders are pushing for more domestic investment as companies weigh travel and consumption changes. While jewellery stocks fell, the government denied any plan to raise gold or silver import duties, leaving firms to monitor market signals and adjust strategies.
Coal India Limited offered 30.5 million tonnes in April coal auctions, down about 6% from March. The move comes as West Asia tensions keep global energy prices elevated and power plants lean on coal for energy security. CIL also plans to let buyers from Bangladesh, Bhutan, and Nepal participate directly in auctions starting January 1, 2026.
Amid West Asia tensions and fears of hoarding, India’s government has stepped up enforcement to curb black marketing of LPG. The ministry says more than 1,900 raids have been conducted nationwide, with penalties imposed on 349 LPG distributorships and 74 distributorships suspended. Officials say supply has steadied, but action continues against violations.
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Gold prices in India rebounded sharply on Tuesday, with 24-carat bullion hitting around ₹1.53 lakh per 10 grams in major metros like Delhi and Mumbai. The rally is being driven by safe-haven demand as West Asia tensions continue. Silver, however, is lagging—slipping toward about ₹2.60 lakh per kg, showing a rare split in investor preferences.
Indian travelers heading abroad this summer are facing a sharp cost surge, with tour packages rising 20–25%. Escalating tensions in West Asia are lifting oil and airfare prices, while a weaker rupee further inflates expenses. As a result, outbound travel drops significantly, with the UAE and Gulf effectively grinding to a near stop, while Far East and domestic travel gain interest.
Indian engineering exports reached a record US$122.43 billion in FY26, with the US remaining the biggest destination even amid tariffs. Shipments to West Asia and North Africa fell 51% amid rising regional tensions. While exports to the UAE and Saudi Arabia declined, Germany, the UK, and China powered growth.
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