20 Apr 2024

Iran-Israel Conflict: How India will be impacted and what major challenges does it face?

Iran-Israel Conflict: The rising tension between Iran and Israel heightens the risk of it extending beyond the Middle East region. Following Iran's attack, India's Foreign Ministry released a statement expressing apprehension and urging both nations to pursue diplomatic solutions. India also issued a travel advisory, advising its citizens against traveling to Iran and Israel.

Experts believe that amidst the conflict between Iran and Israel, India's biggest challenge is the security of millions of its citizens living in these countries and other countries of Western Asia.

At present there are about 18 thousand Indians in Israel while five to 10 thousand Indians are living in Iran.

About one crore Indians live in countries of Western Asia

About 90 lakh to one crore Indians live in the countries of Western Asia, who send about 50 to 55 lakh dollars to India every year. The top oil supplying countries to India are Saudi Arabia and Iran in Western Asia. If tension increases in this region, it can definitely be a problem for India.

Prices of crude oil and gold have increased

After the confirmation of Israel's attack on Iran, the prices of crude oil and gold have increased globally.

On Friday, there was a three percent increase in crude oil prices in Asia. The price of crude oil reached around $90 per barrel. At the same time, the price of gold touched a new record and reached $ 2400 per ounce. The increase in oil prices affects the entire economy.

After Iran's attack on Israel, India said that we call for restraint and immediate retreat from violence and attack through diplomacy.

Israel came into existence as a country in 1948 but India established diplomatic relations with it in 1992. However, since then India's relations with Israel have become stronger day by day.

Now Israel is one of the top countries exporting arms and technology to India.

Iran was 2nd largest oil exporter to India

On the contrary, India has old relations with Iran. Iran was one of the top oil supplying countries to India. Before the international sanctions imposed on Iran due to its nuclear program, Iran was the second largest oil exporter to India.

India has invested in construction of Chabahar Port

Despite international sanctions, India has maintained balanced relations with Iran. Indian Foreign Minister S Jaishankar visited Iran this year. During this, Chabahar port was also discussed.

India has invested in the construction of Chabahar Port. From a strategic point of view, this port is important for both India and Iran. Through this port, Iran will be helped in reducing the impact of the sanctions of western countries.

At the same time, India will not have to go through Pakistan to trade with Afghanistan and Central Asia.

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