Iran Defiant Under New Supreme Leader as US-Israel War Enters Day 11; Oil Near $100, India's Import Bill at Risk
The US-Israel war on Iran entered its eleventh day on Tuesday with Mojtaba Khamenei — son of the slain Ayatollah — issuing his first orders as Supreme Leader, including a fresh missile barrage toward US positions in Qatar. Over 3,000 targets across Iran have been hit since the Feb. 28 offensive began, killing more than 1,200 Iranian civilians and displacing over 500,000 in Lebanon; eight US soldiers are confirmed dead. President Trump told CBS the conflict is 'very complete, pretty much,' triggering a dramatic Wall Street reversal and a drop in Brent crude to near $98 per barrel — but Iran's senior official Kamal Kharazi told CNN Tehran is 'prepared for a long war.' India faces the most acute exposure in Asia: Strait of Hormuz effectively closed, LPG prices hiked ₹60, a $90 billion annual import-bill risk, and Sensex at an 11-month low.
Parliament Budget Session Phase 2: Both Houses in Uproar Over West Asia Debate; Lok Sabha Adjourned
The second phase of Parliament's Budget Session resumed on March 9 amid immediate disruption: EAM Jaishankar's West Asia statement in both Houses triggered protests, with the INDIA bloc demanding a full parliamentary debate citing the 2003 Iraq war precedent when Vajpayee allowed comprehensive discussion. Lok Sabha was adjourned multiple times before the day ended without debate. Congress MP KC Venugopal filed an Adjournment Motion on energy security. BJP's Ravi Shankar Prasad accused the opposition of 'making a mockery of Parliament.' The session, running until April 2, must pass the Finance Bill 2026 and Demands for Grants before closing.
ISRO's 4-Year Semiconductor Plan: SCL Chandigarh's 'Vikram' RISC-V Chip Heads India's Drive for Space-Grade Silicon
India's Semiconductor Laboratory (SCL) in Chandigarh has produced the 'Vikram' 32-bit processor — a RISC-V-based, aerospace-grade chip designed and built entirely in India. The chip, unveiled at Semicon India 2025, forms the cornerstone of ISRO's four-year plan to manufacture indigenous semiconductors for satellites and launch vehicles, ending reliance on foreign-sourced chips. The initiative is part of the ₹76,000 crore Semicon India Mission and is being developed in collaboration with IIT Madras under its SHAKTI processor project. India aims to become a 'full-stack semiconductor nation' capable of designing, manufacturing, and deploying its own chips.
No-Confidence Motion Against Speaker Om Birla: 118 Opposition MPs Sign, BJP Calls It 'Frivolous'
The INDIA bloc formally moved a no-confidence motion against Lok Sabha Speaker Om Birla, backed by 118 MPs from Congress, SP, DMK, and Left parties, accusing him of 'blatantly partisan' conduct including denying Rahul Gandhi adequate floor time. Birla recused himself from the chair; BJP's Jagdambika Pal presided. BJP's Ravi Shankar Prasad called it frivolous and said the party is 'ready for debate.' The motion is historically rare — only three speakers have faced such motions since 1954, all defeated. The complication of no sitting Deputy Speaker adds procedural uncertainty.
Nishant Kumar Joins JD(U): Nitish's Son Makes Political Debut, Signals Bihar Dynastic Shift
Nishant Kumar, son of Bihar Chief Minister Nitish Kumar, joined the JD(U) on March 8 in a public ceremony that signals a significant shift from his father's long-stated opposition to dynastic politics. The 30-year-old's debut speech emphasised development and youth issues. Political observers note the move comes as Bihar approaches elections and could be part of succession planning within the NDA alliance. The BJP did not comment officially on the development, but its implications for the alliance's optics on nepotism are drawing opposition criticism.
South India States Unite Against Delimitation; Tamil Nadu, Telangana, Karnataka Hold Joint Meeting
The chief ministers of Tamil Nadu (MK Stalin), Telangana (Revanth Reddy), and Karnataka (Siddaramaiah) held a joint meeting to oppose population-based delimitation ahead of the constitutionally mandated 2026 exercise. Southern states, which have better implemented family planning policies over decades, fear losing Lok Sabha seats proportionally to more populous northern states. The protest adds a federalism dimension to the already tense Budget Session and is drawing Congress into an uncomfortable internal split — the party governs Karnataka and Telangana but has north Indian voters to consider.
Iran War Threatens Global Chip Supply: Gulf Energy Disruption Risks AI Boom's Power Infrastructure
The US-Israel-Iran war has introduced a new threat to the global technology sector: disruption to Gulf energy supplies could constrain electricity generation for data centres across Asia and Europe. Analysts note that the AI computing boom — already driving record demand for electricity — depends on uninterrupted energy supply chains, many of which route through or are priced off Gulf oil benchmarks. Indian technology companies face a compound risk: rupee depreciation from oil-driven CAD pressure raises import costs for hardware, while investor sentiment has turned cautious across tech stocks globally, with the Nasdaq recovering only after Trump's ceasefire hints.
IndiaAI Mission: 38,000 GPUs Deployed, BharatGen Multimodal LLM Now Live in 22 Indian Languages
India's IndiaAI Mission continues to deploy its ₹10,300 crore investment with 38,000 GPUs now active under the national compute grid. The BharatGen model — India's first government-funded multimodal large language model — is operational in 22 scheduled Indian languages, targeting applications in healthcare, agriculture, legal aid, and education. The parallel IAIRO (India AI Research Organisation), launched in January 2026 at GIFT City and modelled on ISRO's national mandate, is now in early operational phase, focusing on sovereign AI intellectual property and retaining top AI talent within India.
Iran Women Footballers Seek Asylum in Australia; Tech Sector Faces AI Export Control Fears Amid War Escalation
Five members of Iran's women's national soccer team sought asylum in Australia during the Women's Asian Cup, refusing to return home amid the war and fear of government repression. The development draws attention to the conflict's human dimension beyond energy markets. Separately, technology sector analysts flagged concerns over potential US export controls on advanced AI chips to non-allied nations should the Iran conflict broaden, a risk for Indian firms dependent on NVIDIA H100 and H200 GPUs imported under current licences. Washington has so far not expanded export restrictions.
Sensex Sheds 1,353 Points, Nifty at 24,028 — 11-Month Low as Iran War Triggers ₹13 Lakh Crore Wealth Wipeout
Indian equity markets suffered their sharpest single-session decline in months on Monday, March 9, with the Sensex closing at 77,566 (−1.71%) and Nifty at 24,028 (−1.73%), the lowest levels since April 2025. The Nifty has now entered a technical correction — more than 10% below its January 5 record high of 26,373. PSU banks (−3.97%), autos (−3.98%), and private banks (−3.41%) led sectoral losses; SBI fell 3.89%. India VIX surged to 23.36, the highest since June 2024. FPIs net sold ₹6,346 crore, partly offset by DII buying of ₹9,014 crore. Markets open today with Gift Nifty suggesting cautious recovery on Trump ceasefire comments.
Wall Street Stages Dramatic Comeback; S&P 500 +0.83%, Nasdaq +1.38% After Trump 'War Is Very Complete' Comments
US markets executed one of 2026's most dramatic intraday reversals on Monday: after opening sharply lower with oil above $100 and the S&P 500 down 1.5%, all three major indices closed firmly green following Trump's CBS interview. The S&P 500 finished at 6,795 (+0.83%), the Nasdaq at 22,695 (+1.38%), and the Dow at 47,740 (+0.50%). Oil settled at $94.77/barrel (WTI) but then dropped to $86.47 after Trump's remarks, with Brent settling at $98.96 before falling to $89.58. The 10-year Treasury yield fell from its 5-day high near 4.14%. Bitcoin rose to ~$69,000 as risk appetite returned.
LPG Hiked ₹60, Petrol-Diesel Frozen; Govt Raises LPG Booking Gap to 25 Days to Curb Panic Buying
Domestic LPG cylinders (14.2 kg) were hiked by ₹60 from March 7, the first major revision in nearly a year, taking Delhi prices to approximately ₹913. Commercial cylinders (19 kg) rose ₹115 to ₹1,883 in Delhi. The government simultaneously froze petrol (₹94.77/litre in Delhi) and diesel (₹87.67/litre) prices, absorbing OMC losses. Panic buying prompted authorities to raise the mandatory booking gap to 25 days per household to prevent hoarding. Axis Bank chief economist Neelkanth Mishra warned: 'A $50 increase in oil prices means a $90 billion impact' on India's annual import bill, with every $1/barrel adding $1.8 billion.
India Win T20 World Cup 2026: 3rd Title, 1st Defence, 1st on Home Soil — 255/5 Obliterates New Zealand by 96 Runs
India scripted cricket history on Sunday at the Narendra Modi Stadium in Ahmedabad, defeating New Zealand by 96 runs in the ICC Men's T20 World Cup 2026 Final to become the first team to defend the title, the first to win on home soil, and only the third time in history (2007, 2024, 2026) a team has claimed three T20 World Cup titles. India posted a record 255/5 in 20 overs — the highest total in any T20 WC final — powered by Sanju Samson's 89 off 46 balls, Abhishek Sharma's 52 off 21, and Ishan Kishan's 54 off 25. New Zealand were bowled out for 159 in 19 overs. India have lost just one match across the last two World Cups.
Bumrah 4/15 Named Player of the Match; Samson Takes Player of Tournament — India's T20 Kingpins Enter History
Jasprit Bumrah took 4/15 in the T20 World Cup final, dismissing Rachin Ravindra and breaking New Zealand's top order with brutal precision. He was named Player of the Match, sharing the leading wicket-taker award with Varun Chakravarthy at 14 wickets for the tournament. Sanju Samson, whose explosive tournament — 321 runs at an average of 80.25 and a strike rate of 199.37 — won him Player of the Tournament. BCCI Secretary Devajit Saikia said 'Indian cricket is currently in its golden phase.' Skipper Suryakumar Yadav and Head Coach Gautam Gambhir were lauded by the BCCI for building 'a balanced side capable of excelling on the world stage.'
IMD: Heat Wave Persists Across North, West India; Temperatures 3–7°C Above Normal as Western Disturbance Brings Snow to J&K
Maximum temperatures expected to exceed 40°C in Vidarbha, Marathwada, and Saurashtra regions. IMD advises against outdoor activity between 11 AM–4 PM. Light rain expected in Northeast India.