Despite strong fundamentals, India's economy faces vulnerabilities from its external accounts due to contested energy flows and threatened shipping routes. The country must leverage its strengths to build resilience against current global shocks.

<p>Despite strong fundamentals, India’s economy has major vulnerabilities stemming from its external account. With energy flows contested, shipping routes under threat, and capital markets increasingly shaped by geopolitics, the country must leverage its relative strength to weather current shocks and build long-term resilience.</p>