New Delhi/IBNS, May 25 -- Union Finance Minister Nirmala Sitharaman on Monday warned that the ongoing conflict in West Asia could place additional strain on the Indian economy, media reports said.

Rising fuel and shipping costs a concern

Speaking at the SIDBI Foundation Day programme, Sitharaman said the geopolitical tensions may lead to higher fuel prices, increased shipping costs and disruptions to exports.

Economic fundamentals remain strong

Despite the concerns, the Finance Minister maintained that India's broader economic fundamentals remain robust.

Fuel prices hiked for fourth straight day

Fuel prices in India were increased for the fourth consecutive day on Monday, with petrol becoming costlier by Rs 2.61 per litre and diesel...