However, these aren\u2019t enough to offset the supply that\u2019s still trapped in the Strait of Hormuz.<\/p>\n Crude supply to India from Iraq, Saudi Arabia, and the United Arab Emirates (UAE) plunged in March compared to February. In contrast, deliveries from one of Africa\u2019s top producers, Angola, tripled, although the share of Angolan crude remains small.<\/p>\n Amid the chaos on energy markets and surging energy prices, India\u2019s economy would grow at a weaker pace than previously thought.<\/p>\n Standard Chartered, for example, has lowered<\/a> its GDP growth forecast for India to 6.4% from 7% for the fiscal year 2027, ending March 2027, anticipating the high crude prices and potential supply disruptions to weigh on growth, inflation, and fiscal balances.<\/p>\n In January this year, the Indian government had expected<\/a> GDP growth at 6.8-7.2% for the fiscal year 2027, and at 7.4% for FY 2026.<\/p>\n Moody\u2019s Ratings has also slashed<\/a> India\u2019s GDP growth estimate for FY 2027 \u2013 to 6% from 6.8%, on the back of the Iran war that is expected to increase risks to inflation and slow industry growth.<\/p>\n Inflation in food and energy is set to double the overall inflation rate, to 4.8% in FY 2027 from 2.4% in FY 2026, which has just ended, according to Moody\u2019s.<\/p>\n By Michael Kern for Oilprice.com<\/a><\/p>\n More Top Reads From Oilprice.com<\/p>\n","protected":false},"excerpt":{"rendered":"India\u2019s economy will grow by lower rates over the next year than initially expected as the energy supply…\n","protected":false},"author":2,"featured_media":516235,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,180128,50323,150029,180133,173696,180131,180132,180129,180130,163474,56,54,55],"class_list":{"0":"post-516234","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-energy-supply-shock","11":"tag-india-economic-growth","12":"tag-india-gdp","13":"tag-india-inflation-2026","14":"tag-india-oil-imports","15":"tag-lpg-supply-india","16":"tag-middle-east-war-oil","17":"tag-moodys-india","18":"tag-standard-chartered-india","19":"tag-strait-of-hormuz","20":"tag-uk","21":"tag-united-kingdom","22":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/516234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=516234"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/516234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/516235"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=516234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=516234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=516234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/01\/book.jpg\"\/)
<\/a><\/p>\n