West Asia crisis strains India economy and spurs energy diversification
Business
India's economy is feeling the heat from the ongoing West Asia crisis, with Reserve Bank of India Governor Sanjay Malhotra pointing out that this region supplies half of our crude oil and buys a big chunk of our exports.
To keep things steady, India is ramping up local oil and gas production and looking for new trade partners to avoid putting all its eggs in one basket.
Industrial gas rationing in India
To soften the blow, India's boosting its own energy output and spreading out where it gets oil and gas from.
There's even some gas rationing for industries right now.
Still, everyday folks are noticing higher gas prices at home, even as the country works to stay resilient.
Sanjay Malhotra says our economy has kept up a solid growth rate despite all these global bumps.