Indian equities witnessed a sharp sell-off on Monday as a spike in crude oil prices, foreign investor outflows and a broader global risk-off sentiment rattled markets.

Every $10 increase in the price of Brent crude could widen India’s current account deficit by roughly 0.3 to 0.4% of GDP, translating into over USD 10 billion in additional import expenditure.

Indonesia defence ministry spokesperson Rico Ricardo Sirait said agreement was “part of modernisation of military hardware and defence capabilities, especially in maritime sector”​Indonesia defence ministry spokesperson Rico Ricardo Sirait said agreement was “part of modernisation of military hardware and defence capabilities, especially in maritime sector”