Every few years, an external crisis exposes India's economic vulnerabilities, the latest being from West Asia. In such moments, policymakers often focus on external causes. But the more important question is how India can shield itself from such shocks. The answer lies in 5 reforms:
Tackle gold, crude oil imports India imports about 85% of its crude oil requirements and more than 90% of its gold demand. Reducing this dependence will need putting more of the gold already available within the country back into circulation.
