India needs to prepare for lasting changes amid changing geopolitics and energy shocks, finance industry leader Uday Kotak has said.
The global order is moving towards a “tribal” mindset and Indian companies need to think in terms of long-term national strength, the Kotak Securities chairperson added.
“We have not seen the impact in the last two months of the Middle East (West Asia) war in terms of energy price transmission,” Kotak said, speaking at the CII Annual Business Summit 2026 in Delhi.
“It’s coming, and it’s coming big, and consumers have not felt the pressure at all. Oil companies had the ability to be the shock absorber, and it’s a large amount of money,” he said.
Kotak warned that India’s heavy dependence on imported oil (over 85% of its needs) makes the economy vulnerable to global price shocks, which can impact inflation, the rupee, and overall financial stability.
“Be ready for tough times, rather than waiting for the shock to hit us,” he said. “The shock is coming. I don't think you're very far away from the shock unless the Iran war stops tomorrow morning and we have been hoping for it since February 28,” he added.
