Economy news

• Petrol, diesel rates may ease as cheaper crude arrives, says oil minister Puri

  20-06-2026 19:02 via timesofindia.indiatimes.com
  
  Petrol and diesel prices may soon see a dip as India receives cheaper crude oil, Union Minister Hardeep Singh Puri indicated. He defended domestic fuel pricing, stating increases have been minimal globally despite market volatility. The government has absorbed significant costs through excise duty cuts, shielding consumers from the full impact of rising international rates. Puri also highlighted Sonbhadra's development progress.
  
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• 3 Indian-flagged oil tankers cross Strait of Hormuz, head home with 94 crew members

  20-06-2026 17:21 via timesofindia.indiatimes.com
  
  Three Indian oil tankers, carrying over 8.6 lakh metric tonnes of cargo and 94 crew members, have successfully navigated the Strait of Hormuz and are heading home. This safe passage follows a US decision to lift its blockade on Iran, allowing resumed movement through the vital waterway. The government assures continued efforts to protect India's maritime and energy interests, with the vessels expected to reach Indian ports next week.
  
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• Monsoon, El Niño and market trends: NSE highlights key risks for India’s 2026 economy

  20-06-2026 16:48 via timesofindia.indiatimes.com
  
  India's 2026 economic outlook hinges on monsoon performance, with El Niño posing a significant risk of deficient rainfall impacting agriculture. Meanwhile, the nation's equity investor base is rapidly expanding, becoming younger and more diverse, with a notable surge in participation from smaller cities. Despite this growth, trading activity remains heavily concentrated among a small group of large investors across all market segments.
  
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• Milk prices may rise again by July as El Niño threatens fodder supply

  20-06-2026 15:27 via timesofindia.indiatimes.com
  
  Dairy consumers might face another price hike by July or August, with industry experts warning of a potential 3-4% increase. This follows a recent 2-3% rise in May. Concerns are mounting over El Niño potentially worsening fodder shortages and impacting milk production, prompting the Maharashtra government to urge farmers to boost fodder cultivation. Major dairies are closely monitoring the situation.
  
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• Why India, among largest economies, doesn’t rank in top 50 world’s most powerful passports

  20-06-2026 13:13 via timesofindia.indiatimes.com
  
  Despite India's robust economic growth, its passport ranks surprisingly low globally, hovering around the 80th position. This reflects a slower expansion of visa-free access compared to other nations. Factors like diplomatic ties, reciprocal agreements, and perceived security influence rankings, not just economic might. India's progress is gradual, requiring strategic diplomatic efforts and strengthened internal systems to boost international trust and improve its travel freedom.
  
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• 7 new bullet train corridors approved: Centre steps up high-speed rail expansion across India

  20-06-2026 12:24 via timesofindia.indiatimes.com
  
  India is set to revolutionize its rail network with the approval of seven new bullet train corridors, promising significantly reduced travel times between major cities.Key routes like Mumbai-Ahmedabad will see journeys slashed to under two hours, while Bengaluru-Chennai will take just over an hour. This ambitious expansion, including the Delhi-Varanasi-Patna corridor, aims to boost connectivity and usher in an era of unprecedented railway development across the nation.
  
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• China's economy struggles to regain domestic momentum despite export boom: Report

  20-06-2026 11:54 via timesofindia.indiatimes.com
  
  Despite strong export growth, China's domestic economy faces significant challenges. Consumer spending saw a decline in May, with retail sales falling for the first time since late 2022. Consumer confidence remains low, and credit demand is weak, indicating reluctance from businesses and households to borrow. The property sector continues to struggle, though some major cities show signs of stabilization. Semiconductor exports, however, are a notable bright spot, surging significantly.
  
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• Middle East conflict pushes India to rethink LPG imports as OMCs continued to absorb price shocks

  20-06-2026 11:16 via timesofindia.indiatimes.com
  
  India significantly diversified its LPG imports, tapping the US, Iran, and other nations to reduce Middle East dependence amid regional crisis. While state-run retailers absorbed price hikes, domestic consumption dipped due to tighter supplies and rising costs. The move, though ensuring continuity, highlighted ongoing import reliance and the need for a broader sourcing strategy to mitigate future geopolitical risks and market volatility.
  
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• Crude comeback: 20 million barrels leave Iran port after peace breakthrough

  20-06-2026 07:56 via timesofindia.indiatimes.com
  
  Iran's oil exports have surged following a peace deal with Washington, with 11 tankers carrying 20 million barrels departing the Gulf of Oman.This increase coincides with new maritime regulations for the Strait of Hormuz.However, the delay of permanent peace talks due to regional clashes casts a shadow on the long-term outlook, with lighter traffic observed on Friday.
  
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• Accenture outlook cut sparks fresh fears over IT recovery

  20-06-2026 02:16 via timesofindia.indiatimes.com
  
  Global tech spending concerns have intensified as Accenture lowered its FY26 revenue growth forecast to 3-4%. This outlook, despite a resilient third quarter, signals potential prolonged weak demand for Indian IT services firms, possibly extending into FY27. Analysts suggest this weakness at a leading IT player negatively impacts demand prospects for India's top IT companies, hinting at a slower start to the next fiscal year.
  
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• Reliance succession plan on track, enters final leg

  20-06-2026 02:03 via timesofindia.indiatimes.com
  
  Chairman Mukesh Ambani Says RIL Future In Safe Hands, Conglomerate Indivisible
  
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