Global economic pressures like elevated oil prices and trade fragmentation are challenging India, potentially serving as a catalyst for necessary internal economic reforms.

<p>Elevated oil prices, potentially strong El Niño conditions during the monsoon season, and the tariff-induced fragmentation of global trade are bearing down on the Indian economy and will likely be a drag on GDP growth. But these adverse conditions may be a blessing in disguise if they force India to complete its economic reform agenda.</p>