Union Finance Minister Nirmala Sitharaman highlighted soaring fertiliser prices and urged vigilance on fuel, fertiliser, and forex as global markets reel from the US-Iran conflict.
India's Finance Minister Nirmala Sitharaman flagged a three-point crisis framework — fuel, fertilizer, and forex — as the US-Iran conflict drives petrol prices up ₹7.38/liter in 11 days and India's 85-90% crude import dependency amplifies the shock. For tech and enterprise leaders, the ripple effects are concrete: costlier shipping, delayed cargo, working capital pressure, and rupee weakness that will inflate SaaS, cloud, and hardware import budgets.
Sitharaman made these remarks in Mumbai
May 25, 2026
05:34 pm
What's the storyFinance Minister Nirmala Sitharaman has called for a focus on what she dubbed the three "Fs": fuel, fertilizer, and foreign exchange.
Her call comes amid the ongoing US-Iran conflict that is rattling global markets and pushing up costs in India.
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