India’s private sector activity expanded in April, with both manufacturing and services rebounding strongly, according to PMI data. The uptick came even as firms faced higher costs linked to the Middle East conflict and oil shock. Domestic demand stayed resilient, companies increased stockpiling, and employment improved, signaling confidence despite global risks.
As the Iran war deepens, an oil shock is rippling through global markets. Governments are moving to energy-saving measures while nations reliant on oil imports via a troubled strait face tighter supplies. With low reserves heightening vulnerability, prices are climbing across industries, hitting low-income households hardest as daily costs jump faster than wages.
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