New Delhi, March 7 -- The ongoing conflict in West Asia could have multiple economic implications for India, particularly through higher oil prices, disruptions in energy supply routes, and potential impacts on remittances and trade, according to a new report by SBI Research.

The report highlighted that while the immediate inflationary impact of the widening conflict in the Middle East may remain limited, prolonged tensions and supply chain disruptions could significantly affect global economic stability.

One of the major concerns for India is the potential impact on crude oil supplies if tensions disrupt traffic through the Strait of Hormuz, a critical global energy corridor.

The report noted, "India imports nearly 90% of its crude oi...