S Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister of India, has called for a comprehensive mapping of economic vulnerabilities, particularly in energy, food, and critical minerals, to mitigate the impacts of crises like the ongoing conflict in West Asia. The conflict has caused crude oil prices to soar to USD 126 per barrel, up from USD 73 before the war began on February 28. Dev emphasized the importance of reducing dependence on imports through diversification of supply sources and strategic trade agreements. He noted that India must strengthen its physical buffers, including expanding strategic petroleum reserves and creating stockpiles of essential commodities. Despite the challenges posed by the West Asia crisis, Dev highlighted India's economic resilience, with a projected GDP growth of 6.7% for FY27 under a scenario where crude prices reach USD 95 per barrel. He also mentioned that the current account deficit is expected to remain manageable, although it may increase in FY27. The rupee's recent decline against the US dollar is viewed as a temporary issue rather than a structural problem, and Dev remains optimistic about foreign direct investment inflows, which are expected to reach USD 90 billion by 2025-26.