No major economic impact of Iran-Israel conflict, but vigil up: India official

The Israel-Iran conflict's economic impact on India is under watch. Officials believe major impact is unlikely unless the conflict escalates. Short-term volatility in oil prices, capital flows, and shipping is possible. India's strong macroeconomic position should help it weather the crisis. Indian stocks fell, and the rupee depreciated amid investor concerns. Oil prices initially spiked but later stabilized.