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Business News›News›Economy›Indicators›Fuel, finance shocks already hitting global economy; India better placed but not insulated: Neelkanth Mishra

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Fuel, finance shocks already hitting global economy; India better placed but not insulated: Neelkanth Mishra
Synopsis

Higher fuel costs and tighter financial conditions are significantly affecting global demand and capital costs. India is comparatively better positioned than many developed markets, yet it remains vulnerable due to imported energy. The high dependence on crude oil and foreign capital poses risks for India's growth amid global economic pressures. Global bond yields have risen, increasing pressures on mortgage rates and investment costs domestically.

ANI

New Delhi: Higher fuel costs and tighter financial conditions are already weighing on global demand and raising the cost of capital, with India better placed than several developed economies but still exposed through imported energy and foreign savings, World Bank Group Executive Director and UIDAI Chairperson Neelkanth Mishra said on Saturday.



Speaking about two of the four major channels – food, fuel, fertiliser and finance – through which geopolitical disruptions can hit economies, Mishra said the impact was already visible in fuel consumption and global financial markets.



"The stress in the global markets is already visible, so fuel prices have risen. You look at fuel demand or fuel demand growth globally has already come off," Mishra said.

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Fuel Costs Impact on Global EconomyIndia Economic OutlookNeelkanth Mishra InsightsGlobal Financial ConditionsImported Energy Dependence IndiaCurrent Account Deficit IndiaRBI Monetary PolicyInternational Energy Agency ReportGlobal Oil Demand ForecastUS Interest Rate Policy Effects

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