Indian Officials See Iran War Shock as Disruptive as Covid

Indian officials say the Iran war could be as disruptive to the country as the Covid pandemic was six years ago and the damage could linger for years to come, threatening to knock the world’s fastest-growing major economy off its path.

The government is now drawing on its Covid playbook to cushion businesses and consumers hit by gas shortages and soaring oil bills. One such measure could be a credit guarantee scheme worth 2-2.5 trillion rupees ($26.8 billion) for small and medium firms and sectors, officials in New Delhi directly involved in managing the fallout said, asking not to be identified because the discussions are private.