The escalating conflict in West Asia could have “significant” economic repercussions for India if it persists, the Finance Ministry said on Friday. Prolonged tensions may widen the current account deficit, weaken the rupee amid risk-averse capital flows, and raise inflation, while liquefied natural gas (LNG) and crude-dependent sectors such as fertilisers and petrochemicals face pressure, the finance ministry economists led by V. Anantha Nageswaran, said. “The implications of this conflict for India are significant and may be longer-lasting in ways that are not immediately understood,” they said in the monthly economic report for February, offering the first official assessment of how the war could impact the Indian economy.