New Delhi, May 12 -- India's chief economic adviser V Anantha Nageswaran warned on Tuesday that the ongoing West Asia crisis has turned into a "live balance of payments stress test" for India with direct implications for inflation, the current account and the exchange rate, and highlighted deep structural shifts reshaping the global economic order.

Addressing the CII Annual Business Summit 2026 in New Delhi, Nageswaran said, "The West Asia crisis is not a foreign policy concern that occasionally bleeds into economic planning. It is a live balance of payments stress test with direct consequences for inflation, the current account, and the exchange rate."

He said Brent crude futures have risen over 48% since the start of the conflict, whi...