Former International Monetary Fund (IMF) chief economist and Deputy Managing Director Gita Gopinath has warned that elevated oil prices could trim India’s growth down toward 6 per cent, below the International Monetary Fund’s current forecast of 6.5 per cent, as higher energy costs sap consumption and investment. Gopinath said the effects of the oil price shock are likely to persist well into next year and that a prolonged conflict in West Asia could make the downside risks substantially worse.