US-Israel Bombs Iran for 10th Day; Mojtaba Khamenei Named Supreme Leader as Oil Surges to $119
The United States and Israel continued large-scale air operations against Iran on Monday, the tenth day of Operation Epic Fury, as Iran's political and military leadership pledged allegiance to Mojtaba Khamenei — the son of slain Supreme Leader Ayatollah Ali Khamenei — naming him the country's new supreme leader. Brent crude oil spiked to an intraday high of $119.50 per barrel before easing to $112.98, while the Strait of Hormuz remains effectively blocked to shipping, threatening 20% of global daily petroleum supply. Indian External Affairs Minister S Jaishankar told Parliament that one crore Indians live and work in the Gulf region, that PM Modi had personally spoken to leaders of the UAE, Qatar, Saudi Arabia, Oman, Jordan, Israel, and Bahrain urging restraint, and that the Indian Embassy in Iran remains fully operational. India's economy faces acute exposure through surging oil import costs, with the rupee hitting an all-time low of 92.5 against the dollar and the Sensex shedding 1,353 points on Monday alone.
Parliament Budget Session Phase 2 Erupts: Opposition Tables No-Confidence Motion Against Speaker Om Birla
The second phase of India's Parliament Budget Session resumed Monday in a charged atmosphere as three Congress MPs — Mohammad Jawed, Kodikunnil Suresh, and Mallu Ravi — formally tabled a no-confidence resolution against Lok Sabha Speaker Om Birla, the first such motion in recent parliamentary history. Speaker Birla recused himself from presiding over proceedings during the debate. The Lok Sabha was adjourned until 3 PM amid Opposition protests demanding a comprehensive debate on the West Asia crisis, as External Affairs Minister S Jaishankar attempted to deliver a statement. Both BJP and Congress issued three-line whips to MPs for March 9-11, signalling the political high stakes of the coming days.
India AI Impact Summit: $400 Billion in Commitments, Pax Silica Entry, and India's Sovereign AI Ambition
The India AI Impact Summit 2026 — held in mid-February at Bharat Mandapam, New Delhi — produced over $400 billion in investment commitments across the AI stack, with Reliance announcing $110 billion for data centre infrastructure, Adani pledging $100 billion for AI data centres by 2035, and Google committing $15 billion alongside a new America-India Connect undersea fiber initiative. India formally entered the US-led Pax Silica coalition, securing supply chain alignment for silicon-based technologies alongside Australia, Japan, South Korea, Singapore, Israel, Qatar, UAE, Greece, and the UK. OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei, Alphabet CEO Sundar Pichai, and Nvidia all signed landmark enterprise and infrastructure partnerships, while PM Modi positioned India as a proponent of AI as a 'Global Common Good.'
Jaishankar to Parliament: 1 Crore Indians in Gulf at Risk; PM Modi Calls 7 Leaders Urging Restraint
External Affairs Minister S Jaishankar told both Houses of Parliament on Monday that India has one crore nationals living and working across Gulf nations and that any sustained disruption to the region would constitute a direct threat to India's energy security and remittance flows. The Minister confirmed the Indian Embassy in Tehran remains fully operational and that PM Modi personally spoke with leaders of the UAE, Qatar, Saudi Arabia, Oman, Jordan, Israel, and Bahrain. Opposition parties including the Congress, Samajwadi Party, and the Left demanded a full parliamentary debate rather than a ministerial brief.
INDIA Bloc Floor Leaders Meet; Akhilesh Yadav Says BJP Has 'Mortgaged' India's Foreign Policy
Opposition INDIA bloc floor leaders held a coordinated strategy meeting ahead of Budget Session Phase 2 to align their approach on the West Asia crisis debate and the Speaker motion. Samajwadi Party MP Akhilesh Yadav sharply attacked the BJP government, alleging India's foreign policy has been 'mortgaged' and that Indians stranded in the Middle East were unable to celebrate festivals due to the conflict. All India Trinamool Congress confirmed its MPs would support the no-confidence motion against Speaker Birla per party chairperson Mamata Banerjee's direction.
Nishant Kumar Joins JD(U): Nitish Kumar's Son Enters Bihar Politics, Ending Dynasty Stance
Nishant Kumar, son of Bihar Chief Minister and veteran JD(U) leader Nitish Kumar, officially joined the Janata Dal (United) on March 8 in a move that marks a dramatic reversal of Nitish Kumar's long-standing public opposition to dynastic politics. The entry of Nishant, who is widely seen as the CM's political heir, is expected to reshape Bihar's political landscape ahead of state assembly elections and signals a generational shift within the JD(U).
India Reforms Deep Tech Startup Rules: 20-Year Startup Status, ₹30 Crore Revenue Threshold
The Indian government doubled the period for which deep tech companies retain startup status to 20 years and tripled the revenue threshold for tax and regulatory benefits to ₹3 billion, directly addressing the 'false failure signal' that capital-intensive science-led ventures faced under the old framework. The reform comes alongside a ₹1 trillion fund for deep tech and is intended to mobilise longer-horizon private capital for space, semiconductor, and biotech startups. Indian deep tech startups raised $1.65 billion in 2025 — the highest since 2022 — suggesting growing investor momentum.
AgniKul Cosmos Positions India's Space Infrastructure as Backbone for Sovereign AI Compute
Chennai-based rocket startup AgniKul Cosmos made the case that India's push for sovereign AI infrastructure must extend to space, positioning its rapid-turnaround small launch vehicles as essential backbone for orbital compute fleets. With government-backed foundational AI models nearing completion and $50 billion worth of data centre announcements slated to go on-ground in 2026, the demand for low-latency satellite compute is expected to grow. AgniKul's modular engines are designed for low per-mission costs enabling large satellite constellations for persistent orbital intelligence.
India-Finland AI Partnership Signed; UK Deep-Cooperation on 6G and Open RAN Formalized
On the sidelines of the India AI Impact Summit, India and Finland signed a bilateral agreement covering AI, quantum technologies, space, high-performance computing, and the circular economy. Separately, India and the UK deepened cooperation on AI-native telecom, Open RAN, and 6G, with both sides operationalising the India-UK Connectivity and Innovation Centre. Switzerland, Lithuania, and the Netherlands also engaged India on AI governance frameworks centred on accountability and human rights-based approaches.
Sensex Crashes 1,353 Points to 77,566; Rupee Hits All-Time Low of 92.5 as Iran War Shocks Markets
India's benchmark equity indices suffered one of their sharpest single-day falls of 2026 on Monday as Brent crude spiked above $119 per barrel, triggering a market-wide selloff that wiped out ₹8.5 lakh crore in investor wealth. The BSE Sensex closed down 1,353 points at 77,566 — its lowest since April 2025 — while the Nifty 50 ended at 24,028, down 1.73%. The Rupee hit 92.5 against the US dollar, a new all-time low, reflecting India's vulnerability as one of the world's largest oil importers. State Bank of India fell over 5%, while HDFC Bank, ICICI Bank, and Axis Bank each dropped 3-4%; the auto and industrial sectors were also hit hard with Maruti Suzuki down 4.6%.
Wall Street Extends Losses as WTI Crude Tops $100 for First Time Since 2022; VIX Crosses 30
US markets opened the week sharply lower on Monday as West Texas Intermediate crude oil broke above $100 per barrel for the first time since 2022, with an intraday peak near $119 triggering the worst global market selloff in months. The S&P 500 fell roughly 1.2%, the Dow declined 1.5%, and the Nasdaq dropped 1%, while the CBOE Volatility Index crossed 30 for the first time since the tariff-driven selloff of April 2025. Energy stocks were the sole bright spot — Exxon Mobil and Chevron gained about 4% — while airlines, cruise lines, and freight companies led declines. US gasoline prices reached $3.48 per gallon, a 17% increase since the Iran war began on February 28.
Oil Price Surge Threatens India's Inflation Outlook Ahead of February CPI Data on Thursday
With Brent crude sustaining above $100 per barrel as the Iran war enters its second week, analysts warn India faces a material inflation shock heading into the summer. The government will release February inflation data on Thursday, with January's reading already coming in at 2.75% — above market expectations. Oil-linked sub-sectors including paints, aviation, and chemicals are facing immediate margin pressure. UBS downgraded Indian Oil Corp to Neutral and Bharat Petroleum Corp shares plunged as crude prices surge 30% above pre-war levels.
India Wins T20 World Cup 2026: Defeats New Zealand by 96 Runs; First Team to Defend Title
India scripted cricketing history at the Narendra Modi Stadium in Ahmedabad on Sunday, defeating New Zealand by 96 runs in the ICC Men's T20 World Cup 2026 final to become the first team ever to successfully defend the T20 World Cup title and the first to win it three times. Sanju Samson anchored a record-breaking batting display with 89 runs, opening alongside Abhishek Sharma and Ishan Kishan — who both struck half-centuries — to post 255/5, the highest total in T20 World Cup final history. Jasprit Bumrah then tore through New Zealand's chase with 4/15, the first four-wicket haul in a T20 World Cup final, as New Zealand were bowled out for 159 in 19 overs. Samson was named Player of the Tournament for scoring 321 runs at a strike rate of 199.37.
IPL 2026 Schedule to Be Released Today; Season Starts March 28 Amid State Election Constraints
The BCCI is set to release the IPL 2026 schedule on Monday, March 9, with the tournament confirmed to begin on March 28. The schedule announcement was delayed due to uncertainty around home venues for Royal Challengers Bengaluru and Rajasthan Royals, as well as potential clashes with assembly elections in West Bengal, Tamil Nadu, Assam, Kerala, and Puducherry between March and May. The schedule will be released in two phases to accommodate election-related venue changes. RCB confirmed they will play five home matches at M Chinnaswamy Stadium in Bengaluru and two at Shaheed Veer Narayan Singh International Cricket Stadium in Raipur.
Western Disturbance to Bring Temperature Relief to North India from March 9-10; Heatwave Alert Continues in South
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.