India is weathering the latest oil shock and West Asia conflict from a "situation of strength," with GDP projected at 6.8%-7.1% in FY27 despite global headwinds, SBI Research said in its latest report. Historically, every major oil shock pushed the US economy into recession. This time looks different, the report argued. "Unlike during earlier oil shocks, U.S. households are receiving substantial tax refunds, and the U.S. is energy self-sufficient, in contrast to earlier episodes. Thus, as an oil exporter, the U.S. now keeps higher energy spending at home when prices rise."