A lasting peace in West Asia will restore India’s growth momentum with the GDP likely growing at 6.6-6.8% in FY27 if crude prices settle at relatively lower levels and shipments through the Strait of Hormuz normalise, according to EY. “A gradual normalisation of global energy markets is expected to ease supply-side pressures, improve cost conditions, and support both growth and inflation outcomes during FY27,” according to the June 2026 edition of EY Economy Watch.