Gopinath explained that India depends heavily on oil imports from the Middle East. Supply disruptions may affect not only crude oil but also LPG, LNG, and fertilizers. She added that shortages could become a bigger issue than rising prices. The Oil at $140 scenario may also weaken the rupee close to 100 against the US dollar.

She advised policymakers to focus on inflation control, jobs, and support for vulnerable families instead of aggressively defending the rupee. However, she said India still has strong domestic demand and healthy forex reserves, so there is no need to panic.

The post Oil at $140: Gita Gopinath Warns India of Economic Shock appeared first on India Podcast.

The benchmark indices recorded steep losses in early trading. The BSE Sensex dropped more than 800 points, while the Nifty slipped over 250 points. Investors rushed to sell shares amid fears of economic uncertainty and global instability. Banking, IT, and automobile stocks faced strong selling pressure during the session. As a result, investors lost thousands of crores in market value within a short time.

Meanwhile, the Indian rupee also weakened sharply against the US dollar. The currency fell to around ₹96.32 per dollar, marking a new all-time low. Analysts say rising crude oil prices and increased demand for the dollar pushed the rupee down further. If the trend continues, import costs may rise and inflation could increase in the coming months.

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