India, April 17 -- S&P Global Ratings on Thursday said India is expected to grow at 6.3 per cent if the oil price averages $130/barrel in the current fiscal year amid the West Asia crisis.

It also said that the fiscal strain from the energy price shock is unlikely to impact India's sovereign credit rating, as India has the "political commitment to fiscal consolidation" over the long term. S&P Director, Sovereign and International Public Finance Ratings, Yee Farn Phua, said, considering a baseline assumption of crude at $85/barrel, India will grow 7.1 per cent in 2026-27. "That's still a very strong number compared to any major economies out there. Even in the alternate scenario, if I were to say, $130/barrel average, we are still looking...