India, July 2 -- India entered 2026 on a strong economic footing. Growth was running above 7.5%, inflation had eased below 3%, fiscal consolidation was underway, IPO activity remained robust, and consumption and services exports continued to support momentum. While there were concerns over the currency and subdued equity markets, the broader economy remained resilient, supported by investment sentiment and progress on trade agreements.

Then came an energy shock few countries had fully prepared for. The conflict in West Asia and the closure of the Strait of Hormuz tested not only India's fuel supply chains but also its ability to shield households and businesses from a global energy crisis.

The Strait of Hormuz remains the world's most c...