During a speech at Princeton University on April 18, 2026, Reserve Bank of India (RBI) Governor Sanjay Malhotra discussed the significant impact of the ongoing crisis in West Asia on India's economy. The region contributes approximately one-sixth of India's exports, half of its crude oil imports, and nearly two-fifths of inward remittances. In response, India is ramping up its domestic production of oil and gas while diversifying import sources. Malhotra noted that while there is no immediate shortage of oil due to maintained reserves, there is some rationing of gas for industrial use. He highlighted the Indian economy's resilience, achieving an average growth rate of 6.1% over the past decade, compared to the global average of 3.2%. The RBI's monetary policy is focused on preventing second-round inflation effects from supply shocks, with a flexible approach to adapt to evolving inflation-growth dynamics. Additionally, fiscal consolidation has improved tax collection and expenditure quality, further supporting economic stability.