New Delhi, March 6 -- India could face pressure on the rupee, higher inflation and a widening current account deficit if the escalating Middle East conflict pushes up energy prices and disrupts supplies, according to Moody's Ratings.
The agency said India stands out among large Asian economies that depend heavily on crude oil and liquefied natural gas (LNG) imports from the Middle East. About 46 per cent of Indias oil and gas requirements are sourced from the region, PTI reported.
Strait of Hormuz Disruptions Raise Risks
Supplies have been affected as the widening West Asia conflict has disrupted shipping through the Strait of Hormuz, a key conduit for crude oil and LNG exports. Shipping through the strait has largely stalled and some...