{"id":26555,"date":"2024-04-14T23:49:43","date_gmt":"2024-04-14T23:49:43","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/14\/west-asia-conflict-may-cast-shadow-on-india-global-eco-india-business-news-times-of-india\/"},"modified":"2024-04-14T23:49:43","modified_gmt":"2024-04-14T23:49:43","slug":"west-asia-conflict-may-cast-shadow-on-india-global-eco-india-business-news-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/14\/west-asia-conflict-may-cast-shadow-on-india-global-eco-india-business-news-times-of-india\/","title":{"rendered":"West Asia Conflict May Cast Shadow On India, Global Eco | India Business News &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"425\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/thumb\/imgsize-23456,msid-109297187,width-600,resizemode-4\/109297187.jpg?fit=600,425&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"West Asia Conflict May Cast Shadow On India, Global Eco | India Business News &#8211; Times of India\" title=\"West Asia Conflict May Cast Shadow On India, Global Eco | India Business News &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div>NEW DELHI: When finance ministers and central bank chiefs had met at the IMF-World Bank meeting in Marrakech in October, they had said that Israel\u2019s attack on Gaza was unlikely to leave a major scar on the <!-- -->global economy<!-- -->, unless it spread. As they reassemble in Washington, the escalation in tension over the weekend following Iran\u2019s drone offensive is certainly weighing on their minds, amid warnings that the <!-- -->geopolitical situation<!-- --> could take a fresh toll. <br \/>The first order impact is likely on oil, with the nervousness visible in Friday\u2019s trade itself. Global benchmark brent crude hit $92.2 a barrel, the highest since October.<br \/>While pressure on Indian pump prices of petrol and diesel is unlikely until mid-June at least, thanks to the general elections, it could certainly have a bearing on the profits of oil retailers, and even increase the subsidy bill for govt in case the increase is too large.<\/p>\n<div data-pos=\"0\" class=\"id-r-component QbQNS undefined  &#10;        \">\n<div><\/div>\n<\/div>\n<p>\u201cAn escalation of the conflict in West Asia can push up <!-- -->oil prices<!-- -->, which can have a detrimental effect on our twin deficits (fiscal deficit and current account deficit) and inflation, if prices stay high,\u201d said Dharmakirti Joshi, chief economist at ratings agency Crisil.<br \/>A key policymaker said that higher oil and gas prices will also have an impact on overall input costs and impact fertiliser prices, pushing up govt\u2019s subsidy bill.<br \/>\u201cThe immediate threat is to oil prices, which may rise. The moment that gets volatile, it affects your currency,\u201d added Madan Sabnavis, chief economist at Bank of Baroda, while also flagging the impact on shipping costs that have been under pressure. <br \/>A stronger dollar and a weaker rupee is bad news for imports as costs will increase and add to inflation, just when it fell below the 5% mark. How much exports gain from the depreciation of the Indian currency will depend on how other currencies move and how much appetite buyers in Europe and the US have.<br \/>In any case, the tension spreading to other countries in West Asia and the disruptions in shipping route may affect the supply chain, and add to the cost. The attacks on ships and oil tankers have already pushed up freight rates apart from increasing the time taken to ship containers to Europe and America.<br \/>\u201cHow things pan out is uncertain but a prolonged disturbance in the region and the possibility of the tension spreading can have a bearing on the global economy. But it\u2019s too early to comment on the nature of the impact,\u201d said a govt official.<\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n          var s = document.createElement('script');\n          s.src=\"https:\/\/survey.survicate.com\/workspaces\/0be6ae9845d14a7c8ff08a7a00bd9b21\/web_surveys.js\";\n          s.async = true;\n          var e = document.getElementsByTagName('script')[0];\n          e.parentNode.insertBefore(s, e);\n        })(window);\n      }\n    }\n    window.TimesApps = window.TimesApps || {};\n    var TimesApps = window.TimesApps;\n    TimesApps.toiPlusEvents = function(config) {\n      var isConfigAvailable = \"toiplus_site_settings\" in f && \"isFBCampaignActive\" in f.toiplus_site_settings && \"isGoogleCampaignActive\" in f.toiplus_site_settings;\n      var isPrimeUser = window.isPrime;\n      if (isConfigAvailable && !isPrimeUser) {\n        loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive);\n        loadFBEvents(f.toiplus_site_settings.isFBCampaignActive);\n        loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections);\n      } else {\n        var JarvisUrl=\"https:\/\/vsp1jarvispvt.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n        window.getFromClient(JarvisUrl, function(config){\n          if (config) {\n            loadGtagEvents(config?.isGoogleCampaignActive);\n            loadFBEvents(config?.isFBCampaignActive);\n            loadSurvicateJs(config?.allowedSurvicateSections);\n          }\n        })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/west-asia-conflict-may-cast-shadow-on-india-global-eco\/articleshow\/109295839.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: When finance ministers and central bank chiefs had met at the IMF-World Bank meeting in Marrakech in October, they had said that Israel\u2019s attack on Gaza was unlikely to leave a major scar on the global economy, unless it spread. As they reassemble in Washington, the escalation in tension over the weekend following [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":26556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/imgsize-23456,msid-109297187,width-600,resizemode-4\/109297187.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[1225,449,289,4122,3248,5111,31500,377,16988,273,271,5675,5098,272,6501,15907],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/26555"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=26555"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/26555\/revisions"}],"predecessor-version":[{"id":26557,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/26555\/revisions\/26557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/26556"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=26555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=26555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=26555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}