{"id":481336,"date":"2026-05-12T19:24:14","date_gmt":"2026-05-12T19:24:14","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/481336\/"},"modified":"2026-05-12T19:24:14","modified_gmt":"2026-05-12T19:24:14","slug":"the-shock-is-coming-and-no-one-has-any-answer-uday","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/481336\/","title":{"rendered":"‘The shock is coming and no one has any answer’: Uday\u2026"},"content":{"rendered":"

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Business tycoon Uday Kotak has issued a stark warning for Indians amid rising tensions in West Asia, saying the real economic pain from the Iran war is yet to hit consumers. Speaking at the CII Annual Business Summit 2026, Kotak cautioned that soaring energy prices could soon trigger a major financial shock for households and businesses already dealing with stretched budgets.<\/p>\n

His remarks came days after Prime Minister Narendra Modi urged citizens to conserve fuel, avoid unnecessary foreign travel and postpone non-essential gold purchases as global uncertainty deepens.<\/p>\n

Backing the broader message of caution, Kotak said countries must avoid \u201cliving beyond their means\u201d during periods of instability. \u201cThere are some simple things that a country can do, which is to moderate unnecessary consumption,\u201d he said, adding that nations should manage their finances much like a carefully balanced corporate balance sheet.<\/p>\n

\n\u2014 MediaHarshVT (@MediaHarshVT) \n<\/p><\/blockquote>\n

Kotak warned that the impact of the last two months of conflict in the Middle East has not yet fully translated into fuel prices for ordinary consumers. According to him, oil companies and older inventories have temporarily acted as shock absorbers, delaying the pain.<\/p>\n

\u201cBut we must prepare for the worst. It is about preparation, be ready for tough times rather than waiting for the shock to hit us,\u201d Kotak said.<\/p>\n

He added that consumers with limited incomes would be the hardest hit once fuel prices begin rising sharply, either directly through petrol and diesel costs or indirectly through inflation in fuel-dependent goods and services.<\/p>\n

\u201cThe shock is coming. And it is coming big. And the consumers have not felt the pressure at all,\u201d Kotak warned.<\/p>\n

However, he admitted that the situation could still improve if geopolitical tensions ease quickly. \u201cUnless the Iran war stops tomorrow morning\u2026 none of us here has an answer,\u201d he said, referring to the uncertainty surrounding the ongoing conflict.<\/p>\n