New Delhi, March 23 -- The ongoing West Asia conflict could pose significant challenges to the Indian economy, with risks emerging from rising crude oil prices, currency depreciation, and capital outflows, according to a report by State Bank of India.
The report highlighted that disruptions in global oil supply chains, particularly due to tensions in key transit routes like the Strait of Hormuz, have triggered one of the largest shocks to global energy markets, with supply expected to fall sharply.
This has pushed crude prices higher and is likely to keep India's oil import bill elevated.
As per estimates, the Indian crude basket is expected to remain high in the coming months, with prices potentially ranging between USD 125 and USD 137 ...