Oil prices dipped Tuesday after a significant surge, as the U.S. Navy initiated operations to reopen the Strait of Hormuz. A U.S.-flagged vessel successfully navigated the passage, easing immediate supply concerns. However, tensions remain high with Iran launching attacks in response, impacting commercial shipping and an UAE oil port.
Localisation lens on 500 most-imported items: DPIIT analysing data; move aims to reduce country’s import bill
The Indian government is scrutinizing over 500 imported products, including machinery, fertilizers, and electronics, to identify opportunities for domestic manufacturing and reduce reliance on foreign
May 31, 2026