S Mahendra Dev, chairman of the Economic Advisory Council to the Prime Minister of India, expressed concerns over the economic repercussions of the ongoing West Asia conflict. He stated that even if the war ceases, the effects on oil production and supply chains will linger, making it unlikely for oil prices to revert to $69 per barrel in the near future. Dev noted that while India's macroeconomic position is currently robust, fluctuations in crude oil prices could significantly impact growth and inflation rates in the fiscal year 2027. He projected that growth could stabilize between 6.5% to 7% if oil prices remain under $95 per barrel, but warned that prices around $120 per barrel would necessitate a reevaluation of economic forecasts. Dev emphasized the necessity for India to develop a structured risk management framework to address the increasing frequency of global economic shocks, advocating for strategic reserves and diversification in critical sectors. He highlighted India's progress in renewable energy, achieving two-thirds of its commitments ahead of schedule, and expressed optimism about ongoing trade negotiations with the US, which could benefit Indian exporters, particularly micro, small, and medium enterprises (MSMEs).