Uday Kotak, a prominent banker and founder of Kotak Mahindra Bank, has issued a warning regarding the potential economic fallout for India stemming from the ongoing conflict in West Asia, which involves key players like the United States, Israel, and Iran. Speaking at the CII Annual Business Summit 2026, Kotak highlighted that while Indian consumers have not yet felt the full impact of rising energy prices, this situation is expected to change soon. He noted that current fuel inventories are masking the immediate effects, but as these inventories dwindle, households will likely see increases in fuel prices and the overall cost of goods and services. Kotak expressed particular concern for lower and middle-income families, who may struggle the most with rising inflation. He pointed out that India's reliance on imported crude oil—over 85% of its oil needs—exposes the economy to external shocks, especially if crude prices rise significantly. Currently, the economy can manage a crude price around $60 per barrel, but a surge towards $100 could lead to severe economic pressures. Kotak's remarks align with recent statements from Prime Minister Narendra Modi, who urged citizens to reduce fuel consumption and avoid unnecessary expenditures as global uncertainties loom. He emphasized that nations must adopt a cautious approach and prepare for potential economic challenges ahead.