Sanjiv Goenka (chairman of the RPSG Group) spoke to NDTV about the economic ramifications of the ongoing conflict in Iran, which began with a US-Israeli attack on February 28. He acknowledged that India may face short-term pain due to rising oil prices, but he expressed confidence in Prime Minister Narendra Modi's leadership to guide the nation through these challenges. Goenka noted that while the conflict has increased the import bill for oil, gas, and fertilizers, he believes that the Indian economy, projected to grow by over 7% this fiscal year, will ultimately recover. He emphasized that consumer confidence remains high, and despite current challenges, the Indian market is expected to bounce back. The ongoing conflict has caused fluctuations in financial markets, with equities and bond benchmarks declining, and the Indian rupee hitting a record low since the war's onset. Goenka's remarks reflect a broader sentiment of optimism regarding India's economic resilience.