Mumbai, April 24 : India Inc is estimated to have recorded 8.5â??9 per cent year-on-year (YoY) revenue growth in the fourth quarter of fiscal 2026 (Q4 FY26), driven by strong volume momentum in automobiles and white goods after GST rate rationalisation in September 2025, a report said on Friday.

The data compiled by Crisil Intelligence noted that while corporate India has maintained healthy growth so far, the outlook for the first quarter of fiscal 2027 is likely to moderate, with revenue growth projected at 8-8.5 per cent on-year.

This slowdown is expected as price hikes, triggered by geopolitical developments such as the ongoing West Asia conflict, begin to weigh on demand, as per the report.

Crisil Intelligence highlighted that the impact of the conflict was already visible in sectors directly linked to the region during the fourth quarter of FY26.

However, broader and more systemic effects are expected to unfold over the first two quarters of FY27.

For India, the region remains critical across energy, trade and remittance channels, making the economy particularly sensitive to prolonged disruptions, the report said.

India imports nearly 89 per cent of its crude oil requirements, with about 46 per cent routed through the strategically important Strait of Hormuz.

The country also depends on liquefied natural gas imports for around half its needs, more than half of which pass through the same route.

Vulnerability is even higher in liquefied petroleum gas, where imports meet nearly two-thirds of domestic demand and most shipments transit through Hormuz.

Beyond energy, West Asia is a key economic corridor for India, accounting for roughly 13 per cent of goods exports and nearly 38 per cent of remittance inflows.

Key export sectors such as gems and jewellery, along with processed food categories like rice and meat, have significant exposure to the region, the report said.

/IANS