The Iran war is now seven months old, with no sign of a peace deal that can placate all parties.
The worst second- and third-order effects on India came early into the war, but some persist, given West Asia’s importance for the economy.
As crude oil prices rose, India paid more for this critical import even though it got less of it, data shows.
Trade with major partners in the region remains affected, households and companies are staring at high inflation, and the govt is footing an elevated subsidy bill.
ET Bureau
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