New Delhi, March 28 -- India's macro outlook faces rising risks amid escalating US-Iran tensions and a sustained spike in crude oil prices, noted a report by global equity research and brokerage firm Bernstein.

The report cautions that the current geopolitical shock could expose structural vulnerabilities in the Indian economy if it persists, noting that "a prolonged period of elevated crude and tighter external financing conditions could play out for India's macro."

Highlighting historical parallels, Bernstein warned of a potential "GFC moment," recalling that after the global financial crisis, "India's economic growth slipped from ~10% to 5%, inflation spiked to 10%, and rupee depreciated 30%."

The report underscored that crude remai...