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Speaking at the CII Annual Business Summit 2026, Kotak warned that rising energy prices linked to tensions in West Asia could soon begin hurting consumers and businesses, especially those already struggling with limited incomes. Kotak’s comments come shortly after Prime Minister Narendra Modi appealed to citizens to conserve fuel, avoid unnecessary foreign travel and postpone non-essential gold purchases as global uncertainty rises. Backing the broader message, Kotak said countries should avoid “living beyond their means” during periods of instability. “There are some simple things that a country can do, which is to moderate unnecessary consumption,” he said, adding that nations must think carefully about their financial position, much like managing a balance sheet.