┬áRising crude oil prices and supply disruptions following Russia’s invasion of Ukraine could further sap an Indian economy already slowed by COVID-19, posing risks to household spending and private investments, economists said. India, which meets nearly 80% of its oil needs through imports, could be hit by a widening trade deficit, weakening rupee and higher inflation after Brent crude prices shot above $105 a barrel last week, the economists said. The “surge in oil prices as a result of the (Ukraine) crisis poses considerable risks to the Indian economy,” Aditi Gupta, an economist at Bank of Baroda, said in a note on Friday. India’s economy probably grew 6% year-on-year during the three months to end-December, a survey showed last week, slower than the previous two quarters, with new fears rising over slowing momentum after Russia’s invasion of Ukraine. The median forecast from a […]