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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14 India’s economic growth journey huge opportunity for international partners: Kwatra From diesel to daylight: How government solar schemes are powering India’s farmers The next energy leap: Replicating ethanol’s success in diesel Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Windfall levy on export bound diesel, ATF raised India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Central Railway to run four special local trains for Ambedkar Jayanti Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Agtech marketing in the age of regional content and creator communities Rajnath Singh, Nitin Gadkari to join 3-day agri event at Shivraj’s home turf, inaugurated today How agripreneurship will drive improved rural livelihoods in India World’s largest tur producer, yet an importer: A self-sufficiency puzzle unfolding on ground Ethanol in diesel generators: India’s next practical step towards energy security How sustainable sourcing can unlock value in India’s agri-value chains West Asia Crisis: Induction cooking may consume 13-27 GW power Govt defers power plant maintenance for three months; ready for summer demand Tractor sales cross 10 lakh mark in FY26 on strong rural demand, GST cut India to continue buying Russian crude oil India’s textile and garments exports to the US declined 28.7% in February 2026 Why India’s ₹5 pack won’t disappear, but getting smaller West Asia conflict: LPG usage at 21-month low in March E-way bill generation surged all time high of over 14 crore in March Cotton prices firm up tracking global prices Corn prices poised to fall on Iran-US ceasefire pact Air India at critical stage of transformation: Tata Sons Chairman FYL91 commences new flights to Hyderabad, Rajahmundry and Vijayawada Telangana’s GST revenue up 15% in last 3 months ASMS launches agri-commerce network AYOU in Hyderabad Ladakh turns to apricot blossoms to stretch short tourism season Govt proposes overhaul of company incorporation rules to cut paperwork, enable risk-based checks HAL delivers 4 helicopters to Coast Guard Charter services operators urge review of ATF pricing Structural gaps affect growth of India’s high-value horticulture sector: Report Rubio set to visit India in May to discuss trade, tariffs, defence, Quad DGFT rolls out procedure for allocation of calcined coke Qatar vows to remain reliable energy supplier to India amid West Asia tensions Gadkari bats for 100% land acquisition before approving NH projects India must rethink West Asia energy reliance after biggest shock in decades, says ONGC chief Sumeet SSG partners Pinnacle Industries to strengthen Maharashtra’s EMS fleet Consumer durables growth muted as demand slows, margins shrink: HDFC Securities March 2026 was the fourth-warmest month on record, says European weather agency India relaxes rice exports norms to some European countries Unseasonal rains damage rabi crops on 2.49 lakh ha, wheat most affected: Agri Minister ADB projects 6.9% growth rate for current fiscal, 70 bps lower than FY26 India-UK FTA likely by May 1; 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Iran closes Strait of Hormuz after US strikes, escalating Gulf tensions
By ANI · 2026-06-11 · via Economy News, Latest Economic News Today | The HinduBusinessLine
Reports indicate heavy clashes between US forces and Iranian naval units, with strikes hitting multiple coastal areas including Bandar Abbas and nearby islands.

Reports indicate heavy clashes between US forces and Iranian naval units, with strikes hitting multiple coastal areas including Bandar Abbas and nearby islands. | Photo Credit: Dado Ruvic

Iran’s Islamic Revolutionary Guard Corps (Islamic Revolutionary Guard Corps) said the Strait of Hormuz will be “closed to all vessels” following new US strikes on Iran, warning that any ship attempting to pass through the waterway could be targeted, CNN reported.

“Effective immediately, due to insecurity in the region, the Strait of Hormuz is declared closed to all vessels, including oil tankers and commercial ships,” the IRGC said in a post on its official Telegram, as cited by CNN.

“Any vessel attempting to transit the strait will be targeted,” the statement added.

Heavy clashes reported near strategic waterway amid US-Iran exchange

Al Jazeera reported, while citing Iranian media, that heavy clashes and an exchange of fire have been reported in the Strait of Hormuz between US forces and naval units of Iran’s IRGC.

US forces are said to have struck seven coastal locations so far, with attacks reported in and around Bandar Abbas, Sirik, Qeshm Island and Hengam Island.

IRGC Navy said that two vessels attempting to “illegally” transit the Strait of Hormuz have been struck.

While two residents of Kargan in Minab County were injured by shrapnel following a US strike, according to Press TV.

Explosions reported across Iranian coastal cities and islands

Citing Iranian media Mehr news agency, Al Jazeera reported fresh explosions in the port city of Bandar Abbas, noting that the blasts were linked to an incident in the eastern part of the city.

Additional explosions were also reported in several other locations, including the southern towns of Sirik and Minab, as well as Qeshm Island and the northern city of Gorgan.

US Central Command confirms continued self-defence strikes

US Central Command said that its forces have begun launching additional self-defence strikes against multiple targets in Iran.

It also stated that the action is in response to continued and “unwarranted” Iranian aggression.

In a post on X, the official account of US Central Command shared, “U.S. Central Command forces began launching additional self-defence strikes today at 5:15 p.m. ET against multiple targets in Iran at the Commander in Chief’s direction. The strikes are in response to Iran’s unwarranted and continued aggression.”

Published on June 11, 2026