According to an estimate by the International Energy Association (IEA), the Paris-based think tank on energy issues, India's real GDP growth could dip by nearly 1% point, while the trade balance could dip by 1.2% as the recent sprint in global prices extracts its toll. Analysts believe that India may well be among the worst hit major energy consuming economies as it consumes more oil per unit of GDP compared to China, the US, Japan or Brazil.