US-Israel-Iran war hits oil supplies: How India is preparing for the economic fallout

Mar 3, 2026 - 13:30
US-Israel-Iran war hits oil supplies: How India is preparing for the economic fallout

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The geopolitical strain has pushed up global oil and gas prices. For India, which relies heavily on imports, this surge translates into a higher import bill and adds to inflationary pressures. India depends on overseas purchases for almost 90 per cent of its crude oil needs.

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