Oil at $100 could push India's growth below 6%, warns HSBC's Pranjul Bhandari

• HSBC's Chief India Economist Pranjul Bhandari trimmed India's GDP growth estimate due to West Asia conflict's energy shock.
• Growth could slip to 6.3% if oil averages $80/barrel, and below 6% if it averages closer to $100/barrel.
• Rising oil price burden is currently absorbed by public sector, shielding consumers but potentially weighing on government.
• Inflation is not seen as the biggest risk, with HSBC expecting it around 4.5% even with $80/barrel oil.
• External sector remains a concern, with potential weakening of India's balance of payments due to capital flows and current account pressure.