NEW DELHI DAILY - 23 MARCH 2026
Modi Warns Parliament of 'Far-Reaching' War Impact as LPG Vessels Clear Hormuz; Rupee Hits Record Low; Two More Ships Transit Strait
PM Modi calls Iran President, condemns Strait of Hormuz attacks as India's urea production halved
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian emphasizing need for secure shipping lanes amid Strait of Hormuz tensions. India's LNG disruptions have halved urea production capacity at major plants.
Two more Indian LPG tankers transit Hormuz along Iran coast as Modi addresses Parliament on West Asia crisis
Two additional Indian-flagged LPG vessels crossed Strait of Hormuz following route approved by Iran. PM Modi told Parliament attacks on commercial vessels unacceptable, warned of far-reaching consequences requiring long-term preparation.
Indian rupee hits record low at 93.84 per dollar amid escalating Middle East conflict
Indian rupee fell to record low of 93.84 against US dollar, eclipsing previous low of 93.7350. Escalating Middle East conflict stoked worries over sustained disruption of energy supplies.
DRIVING THE DAY
SUMMARY: Prime Minister Narendra Modi on 23 March told Parliament the West Asia crisis carries "far-reaching consequences" requiring long-term preparation, condemning attacks on commercial vessels as "unacceptable" and warning that movement through Hormuz has become difficult, per News18 and NDTV. Two additional Indian-flagged LPG carriers — Jag Vasant and Pine Gas — cleared the Strait of Hormuz on 23 March after securing Iranian Revolutionary Guard Corps approval, News18 reported exclusively, with officials noting internal IRGC delays possibly linked to the recent death of senior Iranian leader Ali Larijani. The Indian rupee fell to a record low of 93.84 against the US dollar on 23 March, eclipsing the previous 93.7350 high hit on 22 March, as escalating Middle East conflict stoked worries over sustained disruption of energy supplies, according to The Hindu and Business Standard. Modi separately highlighted that India's ethanol blending program has saved imports of 45 million oil barrels, while the government confirmed India holds 5.3 million metric tons of strategic petroleum reserves and is targeting 6.5 million MT, News18 and India Today reported.
