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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 US Ambassador meets Oil Minister Puri over expanding energy purchases 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
India-flagged LPG tanker Jag Vikram crosses Strait of Hor...
By PTI · 2026-04-11 · via Economy News, Latest Economic News Today | The HinduBusinessLine

An India-flagged liquefied petroleum gas (LPG) tanker, Jag Vikram, has crossed the Strait of Hormuz, marking the first such transit by an Indian vessel since a temporary two-week ceasefire between the US and Iran was announced, according to ship-tracking data.

The tanker moved through the strategic waterway between Friday night and Saturday morning and was located in the Gulf of Oman, east of the Strait on Saturday afternoon, proceeding eastwards.

Jag Vikram is the ninth Indian vessel to exit the Persian Gulf since early March, while about 15 India-flagged ships remain in the region, awaiting passage.

Owned by Mumbai-based Great Eastern Shipping Company, Jag Vikram is a mid-sized gas carrier with a deadweight capacity of over 26,000 tonnes.

Trade sources estimate it could be carrying around 20,000 tonnes of LPG.

At least 28 India-flagged vessels were in the Strait of Hormuz region when the West Asia conflict erupted, including 24 on the western side and four on the eastern side of the waterway.

Prior to Jag Vikram's transit, eight vessels from the western side and two from the eastern side had managed to sail to safety. Several foreign-flagged ships carrying India-bound cargo also remain stranded in the Persian Gulf.

According to MarineTraffic data, hundreds of vessels remain in the region, including 426 tankers, 34 LPG carriers and 19 LNG vessels, many of which had been effectively stranded amid the disruption.

India, the world's third-largest energy consumer and fourth-largest gas user, imports about 88 per cent of its crude oil, around half of its natural gas needs and nearly 60 per cent of its liquefied petroleum gas (LPG) requirement, underscoring its dependence on overseas supplies.

More than half of crude imports, about 40 per cent of gas and up to 85-90 per cent of LPG shipments come from Gulf countries and pass through the Strait of Hormuz, a key global energy corridor that was shut during the West Asia conflict.

The US and Iran, earlier this week, agreed to a conditional two-week ceasefire that includes reopening the Strait for shipping.

India curtailed LPG supplies to commercial users such as hotels and restaurants after disruptions to Gulf energy flows, before restoring about 70 per cent of pre-crisis volumes as alternative supplies were secured.

Natural gas supplies were initially cut to industries, including fertiliser plants, to prioritise CNG for transport and piped cooking gas for households. Supplies to fertiliser units have since been partially restored, with operating urea plants receiving about 80 per cent of recent average consumption, while overall allocation to the sector has been raised to around 95 per cent this week.

Gas availability to other industrial and commercial users has also been increased gradually, though it remains below normal levels.

City gas distributors have been directed to prioritise piped natural gas connections for commercial establishments, including hotels, restaurants and canteens, as part of efforts to shift demand away from LPG.

Published on April 11, 2026