India's inflation, growth at risk from Red Sea crisis-driven oil price rise, govt says
India's economy faces inflation and growth risks due to rising oil prices from Red Sea disruptions. Key trade routes impacted. High costs and delays could lead to pricier imports and affect export competitiveness. Diversifying trade routes necessary. Despite challenges, government predicts positive close to financial year. Inflation outlook optimistic, GDP growth estimate raised to 7.6%.
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