Coming years will be no exception," said the Monthly Economic Review report for July. Since the beginning of the war in West Asia on February 28, crude oil prices have risen significantly, stoking inflation fears. Crude prices soared to a four-year high of USD 126 per barrel in early May from about USD 73 level before the war. "So, India has to reinvent itself and re-imagine its responses to global imperatives if it has to achieve strategic leverage. As external conditions evolve, the continued interplay of domestic reforms, prudent macroeconomic management and swift policy responses, backed by consistent on-ground implementation will remain important in shaping India's economic trajectory," the report noted.