Indian economy, govt finances see mounting costs from Iran war

A few months ago, India’s economy was humming along nicely. Inflation was benign and growth was steady — the strongest among the world’s leading economies. Now, India is increasingly counting the cost of the Iran war, which economists say will keep mounting if the deadlock between the US and Iran remains unresolved and the blockage of oil supplies continues. As the world’s third-largest oil importer and consumer, India ships in about 90 per cent of its oil, making its economy one of the most ...

By [email protected] (Reuters)