At the CII Annual Business Summit, Chief Economic Advisor V Anantha Nageswaran highlighted the ongoing crisis in West Asia as a significant balance of payments stress test for India, potentially affecting the current account deficit, inflation, and exchange rates. He pointed out that India relies on imports for 87% of its crude oil, with 46% of that passing through the strategically vital Strait of Hormuz, which has been effectively shut for the past two months. Nageswaran warned that the breakdown of the post-Cold War global economic order exposes emerging markets to geopolitical fragmentation and persistent external shocks. He emphasized the need for India to rethink its economic positioning and adapt to a structurally altered global landscape. To support micro and small enterprises, he urged larger companies to ensure timely payment releases, thereby easing their working capital needs and reducing funding costs.