Trade
India Plans $6.2 Billion Fund, Export Relief Amid Iran War
Shipping containers at a commercial port in Mundra, India.
Photographer: Sumit Dayal/Bloomberg
India is setting aside $6.2 billion to help the economy weather any adverse impacts from global crisis, Finance Minister Nirmala Sitharaman said on Friday, while separately weighing measures to safeguard exporters amid high energy prices due to the war in the Middle East.
The Economic Stabilization Fund will give India fiscal headroom to respond to global challenges, she added, as oil prices crossed $100 a barrel, raising the risk of massive supply-chain disruption. The country imports nearly 90% of its annual crude requirements.