NEW DELHI, March 19. /TASS/. The oil price above $110 per barrel during a long period will adversely affect prospects of the Indian economy and the GDP growth rate, said VK Vijayakumar, the expert at Geojit Investments.

"This is bad news for oil and gas importers like India. If Brent remains above $110 for an extended period, it will have negative implications for India’s macroeconomic indicators, including GDP growth and corporate earnings," he said on the air with India Today television.

Markets are likely to remain volatile in response to developments on the war front and movements in crude prices, and the recent recovery could be wiped out if tensions escalate further, Vijayakumar noted. A sudden de-escalation still cannot be ruled out, which could lead to a sharp correction in crude prices and provide relief to markets, he added.