West Asia conflict tests India economy as oil prices spike
India's economy is feeling the heat from the West Asia conflict, with oil prices shooting up and supply chains getting disrupted.
This has made things pricier at home and put pressure on the rupee.
Chief Economic Adviser V. Anantha Nageswaran even called it a "live macroeconomic stress test," showing just how real these challenges are right now.
State-run fuel retailers losing ₹1,000 cr
State-run fuel retailers are losing about ₹1,000 crore every day because of high energy costs, according to Petroleum Minister Hardeep Singh Puri.
To help out, Prime Minister Modi is urging everyone to save resources and skip nonessential foreign travel for now.
Meanwhile, policymakers are pushing for smarter spending, easier regulations, and a bigger focus on making things in India, not just assembling them.
Commerce Minister Piyush Goyal also pointed out that energy efficiency reforms have already saved $10 billion a year and stressed that self-reliance is key if India wants to ride out this storm.