India’s West Asia Crisis Response: Oil Under-Recoveries, Forex Reserves, and the Economic Stress Test of 2026
On May 12, 2026, the fifth meeting of the Informal Group of Ministers (IGoM), chaired by Defence Minister Rajnath Singh at Kartavya Bhavan, was convened to assess India’s economic resilience in the face of the escalating West Asia conflict. The government assured that India holds 60 days of crude oil reserves, 60 days of natural…