The West Asia conflict could trigger a “demand shock” if disrupted supply chains are not restored soon, said RBI Governor Sanjay Malhotra on Wednesday.

He made the statement hours after US President Donald Trump agreed to a two-week ceasefire with Iran, signalling a temporary de-escalation in tensions. The ceasefire depends on Iran reopening the Strait of Hormuz, with Trump saying that he has received a 10-point proposal from Tehran for further engagement.

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