Assocham Report: Regarding the Indian economy, Assocham has expressed confidence that even if the price of crude oil remains between 90 to 100 dollars per barrel, the country’s growth rate can still remain above 7 percent. This means that despite pressure on crude oil prices, there is little possibility of a major impact on growth.

According to the report, in the last few years, the country has strengthened its capacity on several occasions amid the impact of expensive oil. ASSOCHAM said that the country has gone through high oil prices many times before. Despite this, there was not much impact on the pace of economic development.

Oil remained expensive, yet there was not much impact on growth

1. According to ASSOCHAM, there have been many years between 2000-01 to 2025-26 when crude oil prices were at medium or high levels. However, even during this period, India’s economy showed strong growth.

2. Talking about the figures, despite the oil price being around $ 93 per barrel in 2022-23, the growth was 7.6 percent. At the same time, even at the level of around $ 82 per barrel in 2023-24, the growth rate was 7.2 percent.

3. Between 2011 and 2014, even when oil was above $100 per barrel, GDP growth was between 5.2 to 6.4 percent. These figures clearly show that despite crude oil becoming expensive, the country’s economy has remained stable.

GDP growth expected to be above 7%

ASSOCHAM says that India’s GDP growth may remain above 7 percent in 2026-27. The main reasons for this are strong consumption, stable exports and continuously increasing capital investment.

According to the organization’s president Nirmal Kumar Minda, all these factors together strengthen the economy. Will also continue to support growth in future also.

Crude oil prices rise as tensions increase

As the situation in the Middle East shows signs of worsening again, there has been a sharp increase in the prices of crude oil. Today, on April 23, 2026, the price of WTI crude oil future crossed $ 93 per barrel. At the same time, Brent crude has also increased to the figure of $ 102.501 per barrel. From which it is clear that this tension is having a direct impact on oil prices at the global level.

Also read:

Gold Silver Price: Investors got a chance before the wedding season, gold and silver prices fell; Know today’s latest rate