India Growth Seen at Risk as Iran War Shows No Sign of Easing

Surging oil prices and acute gas shortages are rippling through India’s economy as the Iran war drags on, disrupting industries and prompting analysts to cut growth forecasts while warning of rising inflation.

India is among the economies most exposed to the West Asia crisis as it imports about 90% of its crude oil and nearly half of its liquefied petroleum gas. About half of its crude and over three-fourths of LPG imports pass through the Strait of Hormuz, now effectively shut by Iran, pushing oil prices above $100 a barrel.