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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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Quad slams Iran’s Hormuz tolls; unveils critical minerals framework at Delhi Meet
By Amiti Sen · 2026-05-26 · via Economy News, Latest Economic News Today | The HinduBusinessLine
(From Left) Australian Foreign Minister Penny Wong, Indian Foreign Minister  S Jaishankar, Japanese Foreign Minister Toshimitsu Motegi, and US Secretary of State Marco Rubio, attend a joint press conference following the Quad Foreign Ministers' Meeting at Hyderabad House, in New Delhi.

(From Left) Australian Foreign Minister Penny Wong, Indian Foreign Minister S Jaishankar, Japanese Foreign Minister Toshimitsu Motegi, and US Secretary of State Marco Rubio, attend a joint press conference following the Quad Foreign Ministers' Meeting at Hyderabad House, in New Delhi. | Photo Credit: SUSHIL KUMAR VERMA

The Quad countries on Tuesday hit out against imposition of tolls on shipping vessels passing through the Strait of Hormuz and the Red Sea by Iran and stressed on the importance of ensuring safety and uninterrupted flow of global commerce.

“We reiterate the importance of adhering to international law as reflected in the United Nations Convention on the Law of the Sea (UNCLOS) with respect to navigational rights and freedoms, and the safety and uninterrupted flow of global commerce through the Strait of Hormuz and the Red Sea. We condemn the attacks on commercial shipping vessels and oppose any future measures that are inconsistent with UNCLOS, including imposition of tolls,” per the Quad Foreign Ministers’ joint statement issued on Tuesday.

The meeting was hosted by External Affairs Minister S Jaishankar with Foreign Minister of Australia Penny Wong, Foreign Minister of Japan Toshimitsu Motegi and US Secretary of State Marco Rubio in attendance.

Strait of Hormuz Toll

The Ministers discussed the situation in the West Asia, reaffirmed support for ongoing diplomatic efforts and hoped for lasting peace in the region, the statement said.

Iran’s Foreign Ministry has imposed charges on ships transiting the Strait of Hormuz underlining that it was not imposing tolls but collecting fees for “navigational services” and measures necessary to protect the environment of the key waterway.

The US and Israel’s ongoing war with Iran has taken a huge toll on civilian infrastructure and critical supply lines, leaving major cities and public utilities heavily damaged, that it would seek to rebuild.

The Quad reiterated its grave concerns over the use of “economic coercion and non-market policies and practices” including arbitrary export restrictions, price manipulation, and disruptions particularly on critical minerals that impact global supply chains and critical industrial sectors.  

Minerals Framework

There was, however, no direct reference to Beijing’s restrictions on exports of rare earth and other critical minerals in the statement.

“To advance our vision for fair and diversified critical minerals markets, we are pleased to announce the Quad Critical Minerals Framework, which will guide how Quad partners can leverage economic policy tools and coordinate, including in concert with the private sector, investment to strengthen critical minerals supply chains, including in mining, processing, and recycling,” the statement emphasised.

The Ministers also expressed serious concerned about the situation in the East China Sea and the South China Sea.

“We reiterate our strong opposition to any destabilising or unilateral actions including by force or coercion that threaten peace and stability in the region. We express our serious concerns regarding dangerous and coercive actions, including interference with offshore resource development, the repeated obstruction of freedom of navigation and overflight, and the dangerous manoeuvres by military aircraft and coast guard and maritime militia vessels, especially the unsafe use of water cannons and flares, and ramming or blocking actions in the South China Sea. We are seriously concerned by the militarisation of disputed features,” the statement noted.

Published on May 26, 2026