Israel-Hamas war: Petrol, diesel price concerns back, says Finance Minister Nirmala Sitharaman

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Follow our LIVE coverage of the Israel-Hamas war here "With the recent crisis in the Middle-East, concerns on fuel are back again, the worries that many countries expressed. Concerns and uncertainties are about peace as a positive factor. Fuel concerns affecting food security aspects and impact on inflation, fragmentation of supply chains were the three major worries in the near future," she stated.

The finance minister also noted that emerging markets are going to the growth drivers or "engine of growth" for the world, adding that it is these economies that are witnessing "significant growth", as per a Moneycontrol report. "There will be clear signals towards growth momentum, which will spread as a positive contagion to all other terrains. That will be one of the impacts that most of us are recognising," she added.

Also Read: DMart Q2 Results Preview: Avenue Supermarts to clock double-digit revenue growth on grocery sales On investment, Sitharaman noted that flows will not be affected aby only one factor and added that interest rates have been high globally for some time. Here too she emphasised that it is the emerging markets witnessing sustained investments flows. "Because sustained growth momentum is seen in emerging markets, investment flows will not be influenced only by interest rates remaining high and will not be confined to those locales where it is high," she said.

Sitharaman further said that the fragmentation of global supply chains is another major concern, as per an ANI. The finance minister is currently on an official visit to Marrakech, Morocco, attending the IMF-World Bank Annual Meetings 2023. On October 13, she engaged in discussions with US Treasury Secretary Janet Yellen regarding the policy