India faces a multifaceted crisis from the Iran war, causing import blocks, capital flight, currency depreciation, slowing growth, and inflation. The author urges urgent policy reversals, advocating market-driven solutions. Key recommendations include letting the rupee find its market-clearing level, tightening monetary policy to stem capital outflow and inflation, and fully passing through global fuel and fertilizer price increases to protect finances. Diversifying trade partners is also crucial. These steps are vital for navigating the crisis and enabling future structural reforms, positioning India for high growth.