The Prime Minister’s appeal for austerity reflects growing concern that the Iran conflict is emerging as an economic threat capable of driving up inflation, fuel prices and household costs across India
The closure of Strait of Hormuz, which carries nearly 20% world’s oil supply, could push up oil prices for import-dependent India, widening the current account deficit, weakening the rupee, and fuelling inflation
The escalating Iran–US–Israel conflict and potential Strait of Hormuz disruption could directly impact India’s oil imports, petrol prices, inflation, and markets. Here’s a clear breakdown of how long India’s reserves may last and what this crisis means for you.
With 25 days of crude and fuel stocks, plus strategic reserves and diversified imports, India is confident of maintaining supplies even if the West Asia crisis continues, a top oil ministry official said
US President Donald Trump claimed India will buy Venezuelan oil instead of Iranian supplies, suggesting a shift in global energy flows and inviting China to participate. New Delhi has not confirmed the deal, and details on timelines or volumes remain unclear
