India faces severe exposure to disruptions from the Iran war because the country imports roughly 90 percent of its crude oil, analysts warned Friday.
Shipping attacks near Oman and volatility in the Strait of Hormuz have raised insurance costs and delayed deliveries for Indian refiners. Three Indian seafarers were confirmed dead following an attack on a vessel off the Omani coast.
The external affairs ministry summoned the U.S. charge d’affaires for a second time to protest strikes affecting commercial shipping. India confirmed 21 crew members were rescued from one attacked vessel.
Economists said sustained conflict could widen India’s trade deficit and pressure the rupee despite RBI support measures.
Diplomatic sources on June 12, 2026 said reopening the Strait of Hormuz and lifting shipping restrictions remained central to any ceasefire arrangement.
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Sources:
https://www.business-standard.com/economy