V. Anantha Nageswaran, the Chief Economic Advisor to the Government of India, addressed the potential impact of the Middle East crisis on India's economic outlook. He emphasized that while the country had anticipated a GDP growth rate of 7% for the upcoming year, the conflict has led to increased prices for petrochemicals and crude oil imports. This situation arises at a time when India had recently updated its GDP methodology and figures, expecting sustained growth. Nageswaran noted that the Ministry of Petroleum has effectively managed the situation, transforming what could have been a supply shock into a price shock. Despite these efforts, he acknowledged that international oil prices remain beyond India's control, and the focus will now shift to how domestic pricing is handled in light of these developments.