Perspectives

India: Macro Resilience Across Oil Shocks

A cross-episode analysis of structural transformation, 2007–2026

Examines India's economic response across four major oil shock episodes — the GFC supercycle (2008), the Arab Spring/Fragile Five period (2013), the Russia–Ukraine war shock (2022), and the ongoing Iran/Hormuz crisis (2026). Across ten metric categories and 40+ data points, a consistent pattern emerges: each successive shock has inflicted less damage and required less recovery time.