New Delhi, April 13 -- The ongoing conflict in West Asia is expanding in scale, disrupting global shipping, energy supplies and trade flows, according to a Crisil Intelligence report.
The report said the situation has triggered what is being described as one of the largest energy shocks on record, with the partial closure of key routes such as the Strait of Hormuz—responsible for nearly 20 per cent of global oil movement—and damage to major oil and gas infrastructure.
As a result, global growth is expected to slow to around 3.2 per cent in 2026, while oil and gas prices are projected to remain elevated amid supply constraints.
India Faces Growth and Cost Pressures
The report highlighted that India, being heavily dependen...