At the Confederation of Indian Industry's annual business summit, Uday Kotak (founder of Kotak Mahindra Bank) emphasized that India must prepare for 'tough times' as the effects of the ongoing Middle East war on energy prices are yet to be felt. He warned that if oil prices rise above $100 per barrel, India's current account deficit could soar to $100 billion, significantly impacting the economy. Kotak pointed out that while India has benefited from oil inventories, this advantage is diminishing. He urged the nation to adopt a long-term economic vision, drawing parallels with the U.S. and China, particularly in energy independence and innovation. Kotak also highlighted the need for a cultural shift within Indian businesses, advocating for a balance between creation and destruction to foster economic growth. He criticized the short-term focus of many companies, urging them to reinvest profits to avoid future difficulties in production.