The ongoing conflict in West Asia is bad news for India as it will increase oil price and affect the livelihood of thousands.
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The ongoing turmoil in West Asia is bad news for India. If the conflict continues, it will not only make oil costlier, but also affect the livelihood of thousands of Indians settled there. Already, the crude oil price has touched $ 78 per barrel from $ 64 and it may go up further if Iran blocks the Hormuz strait which transports one-fifth of world’s seaborne oil daily. In such an eventuality, India’s energy bill may touch the sky as the country is one of the largest importers of oil. It may also be mentioned here that 88 per cent of India’s oil imports comes through the said strait.
The problem may get even more complicated if Indians residing in West Asia lose jobs in wake of the conflict. In such a situation, the government will have to rehabilitate these people, which won’t be easy. In such a case, the Indian economy will come under huge stress which may affect growth and lead to high inflation.
So, to neutralize this impending danger, India should make an all-out effort to prevent the ongoing trouble in West Asia from escalating.
India’s friendship with Iran goes back to ancient times as these countries are two of the oldest civilizations of the world, while Israel has become New Delhi’s key defence partner in recent times. So far, India has managed to maintain a balanced relationship with its civilizational ally and security partner, and this may prove handy if India decides to play an active role in ending the crisis.
Prime Minister Narendra Modi is expected to the issue in West Asian during the upcoming G-7 summit in Canada, seeking its positive intervention to prevent this planet from becoming a theatre of war, with Russia-Ukraine conflict still continuing while various other regional tussles threatening to take serious turns. New Delhi should use its influence to end the ongoing crisis in the West Asian.
It's sad to note that despite battling with several problems, which require the world to fight unitedly, nations are attacking each other on slightest pretext, forgetting crucial issues like climate change, poverty, inadequate healthcare, etc. We should realise that the solution of the problems lies in peace, not in conflict.
Every nation has the right to self-defence but they should also know when to stop. No country should attack another using their sheer military strength and indulge in direct or proxy wars, but respect each other’s sovereignty and find resolution to differences through dialogue.