With the war in West Asia choking the Strait of Hormuz, India’s economic resilience is tested by energy, its deepest structural dependency. The dawn of 2026 brought optimism for India’s economy, with the EU trade deal finalized, a stable Union Budget, and U.S. tariffs cut from 50 percent to 18 percent, easing fiscal pressures and allowing the RBI to hold rates steady. This momentum was abruptly derailed as tensions between the U.S., Israel, and Iran escalated into direct mili