The International Monetary Fund's executive director, KV Subramanian, believes that India will be able to handle the spike in crude oil prices caused by the conflict in Gaza. He stated that India's strong handling of the pandemic and its balanced approach to supply and demand measures have positioned the country well. However, he noted that higher oil prices may require additional measures to address inflation. Subramanian also mentioned that the impact on interest rates and the proposed Middle East-Europe logistics corridor is yet to be assessed.