New Delhi, April 14 -- India's economic growth could slow by up to 80 basis points if crude averages USD 130 per barrel in 2026, said S&P Global Ratings on Tuesday. Higher oil prices could widen the current account deficit, with estimates suggesting a USD 10 per barrel increase may expand the gap by about 0.4 percentage points of GDP, it said.
"India isn't immune to the shocks reverberating from the West Asia war. The pain of higher energy prices and supply disruptions may persist for months, crimping economic activity across households, corporations, and banks," S&P Global Ratings said in a report.
The report assumes Brent crude at USD 130 per barrel in 2026 and USD 100 in 2027 under the stress case, versus a base case of USD 85 and USD ...