 "macro economic, india's growth")
Over the last two months, geopolitical and market developments have emerged as risks to India’s economic outlook.
External shocks
Geopolitically, the Israel-Hamas conflict continues and there is uncertainty over whether this will escalate. So far, Brent crude oil prices have risen marginally to build some geopolitical risk premium, but not a full escalation. Opec+ production cuts had already set a floor, and if the West Asia conflict escalates, then crude oil prices could rise further.
On the market front, US long-end government bond yields have drifted higher, with 10-year yields breaching 5 per cent for the first time since 2007. This selloff
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