In the first signs of the impact of the US-Iran war on the Indian economy, the private sector recorded its slowest expansion in more than three years in March, according to the latest HSBC PMI survey. Rising prices linked to the US-Israeli conflict with Iran have weighed on domestic demand. However, despite the subdued conditions at home, export orders climbed to an all-time high, according to a survey released on Tuesday. The figures point to a loss of economic momentum in the closing month of the fiscal year for one of the world’s fastest-growing major economies.