India's ₹47,700 Crore at Risk Amid Iran-Israel Conflict, Never Thought It Happen

Business News:The escalating tensions between Iran and Israel are increasingly transitioning into full-blown war, which has raised significant concerns for India. Energy and business deals worth ₹47,700 crore, crucial to India's economic interests, are now under threat. India heavily relies on the Middle East for oil and raw materials, and any disruption could severely impact both the supply chain and the cost of essential commodities. In addition to the immediate economic repercussions, this geopolitical conflict may further escalate uncertainty in global markets, forcing India to explore alternative sources for energy and trade, adding complexity to its growth strategies.

Iran-Israel struggle and India's difficulties

The situation between Iran and Israel in West Asia is becoming more serious day by day. The potential war between the two countries will not only be limited to that region, but it will also affect global trade, oil supply, and investment. India, which imports a large part of crude oil from Iran and Central Asia, may be severely affected in this crisis.

Why is ₹ 47,700 crore at stake?

A large part of India's total energy imports comes from Iran and its neighboring areas. In the last few years, India has signed several oil and gas contracts with Iran, which is around ₹ 47,700 crore. These contracts may face crisis in the event of war or restrictions.

Impact on Chabahar Port Project

The strategically important Chabahar port project between India and Iran may also hang in the balance due to this tension. The project is a source of direct access to Central Asia and Afghanistan for India. If the war begins, its functioning may be affected.

Oil prices surge

Crude oil prices are rising in the global market due to a possible war. India, which imports about 85% of its needs, may suffer a huge economic shock. This can increase the prices of petrol and diesel, which will affect the common man's pocket.

Impact on trade and investment

Many companies in India trade in Iran and West Asia. In the event of war, it will be difficult to do business there and investors may suffer losses. There may also be instability in the stock market.

Government preparation

The Government of India has started monitoring the situation. The Ministry of External Affairs and the Ministry of Oil are constantly analyzing the situation. India has also appealed to all parties to maintain peace.