The ongoing West Asia conflict has highlighted India's structural vulnerability to energy shocks, reinforcing the need to reduce dependence on imported crude and accelerate efforts to strengthen energy security, according to an external member of the RBI's rate-setting panel. Nagesh Kumar, who is the director of the Institute for Studies in Industrial Development and also a part of the Monetary Policy Committee, said the Indian approach needs to focus both on stepping up oil exploration domestically and hastening the transition to alternative sources.