India is facing a “live balance of payments stress test” due to the ongoing West Asia crisis, but the country’s macroeconomic fundamentals and reform momentum place it in a stronger position than many emerging economies to weather the turbulence, chief economic advisor V Anantha Nageswaran said on Tuesday. He cautioned that the conflict in West Asia has moved beyond a geopolitical concern and now poses direct risks to inflation, the current account deficit (CAD), the balance of payments (BoP), and the rupee.