At the CII Annual Business Summit 2026, Uday Kotak (Founder of Kotak Mahindra Bank) delivered a stark warning to Indian businesses about the potential economic fallout from escalating tensions in the Middle East, particularly the conflict involving Iran. He described the current global economic landscape as entering a volatile 'tribal' phase, urging businesses and policymakers to adopt a mindset of 'strategic paranoia' to prepare for an impending shock. Kotak noted that while the direct impact of the conflict has been muted recently, the situation is changing rapidly. He expressed concern over India's vulnerability to rising oil prices, highlighting that a surge from $60 to $100 per barrel could worsen the Current Account Deficit (CAD) from -1% to -2.5%. Kotak concluded by calling for a proactive approach to reshape the Indian economy and emphasized the importance of action over mere discussion.