While India has managed to absorb the economic fallout from the West Asia conflict better than initially feared, the conflict has highlighted the need to strengthen strategic reserves and diversify critical supply chains beyond traditional sources, said Prof. S. Mahendra Dev, Chairman, Economic Advisory Council to the Prime Minister (EAC-PM). In an interaction with TNIE's Pushpita Dey, he shares the experience also reinforced the case for building domestic capacity in semiconductors, critical minerals and other strategic sectors. Edited excerpts:What specific lessons has the West Asia conflict revealed about India’s strategic petroleum reserves? Should India be more aggressive in securing long-term…