Market sentiment remains fragile, but India's long-term play is intact: Anand Shah of ICICI Prudential AMC

There is no doubt that the current situation, in which the Strait of Hormuz is disrupted and energy flows are affected, is a significant negative for the global economy, including India. India imports approximately 80% of its oil, 50% of its liquefied natural gas (LNG) and 80% of its LPG requirements. Higher prices, alongside limited availability, have the potential to disrupt the economy’s smooth recovery.