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Informist, Monday, Mar. 23, 2026

 

NEW DELHI – Prime Minister Narendra Modi will speak in the Lok Sabha at 1400 IST Monday on the ongoing conflict in West Asia. This follows a meeting of the Cabinet Committee on Security late Sunday to review the situation there, and the measures to mitigate the impact of the military conflict on India's economy. 

 

At the cabinet meeting, Modi directed the participants to set up a group of ministers and secretaries to work dedicatedly to minimise the impact of the conflict on the Indian economy. Ministers of home, defence, finance, and external affairs, and the national security advisor, are the members of the Cabinet Committee on Security. 

 

Amid the raging military conflict between Iran and the US-Israel combined, India's energy supply has been hit, especially due to the blockade of the Strait of Hormuz by Iran. Meanwhile, the price of Brent crude has jumped 57% to over $100 per barrel in the aftermath of the US and Israel launching joint attack on Iran.

 

The crisis is currently in its fourth week with no sign of de-escalation. Meanwhile, the rupee also stumbled to a record low of 93.9175 a dollar Monday as tensions continue in West Asia with the US and Iran exchanging increasing threats.  End

 

US$1 = INR 93.88

 

Reported by Krity Ambey

Edited by Deepshikha Bhardwaj

 

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