Arti BaliNew Delhi, May 9 -- For decades, India's vulnerability to West Asia was measured in crude oil barrels. Today, economists warn that this framing is dangerously incomplete. The conflict reshaping the Gulf is simultaneously putting pressure on energy costs, household budgets and remittance flows that support millions of Indian families.
The ongoing conflict in West Asia could expose India to rising inflation, energy insecurity and fiscal pressure despite efforts to diversify crude imports, according to Gulf Research Center Chief Economist Dr. John Sfakianakis.
India imports crude from roughly 40 countries, and about 70% of those imports now arrive through routes outside the Strait of Hormuz, up from around 55% a few years ago. This ...