Bhubaneswar, April 1 -- PM Modi on Wednesday chaired a crucial meeting of the Cabinet Committee on Security (CCS) to assess the implications of the escalating Iran-US, Israel conflict on India's economy, energy security, and overall national preparedness.

One of the central concerns discussed during the meeting was the surge in crude oil prices, which have reportedly crossed the $100 per barrel mark amid the conflict. Rising fuel costs are expected to have a cascading effect on transportation, manufacturing, and essential commodities, prompting the government to closely monitor inflationary trends.

The CCS also reviewed risks to global oil supply routes, particularly the strategically crucial Strait of Hormuz, through which a large port...