The US-Israel-Iran War will undoubtedly impact India’s energy security and jeopardise the safety of the Indian diaspora and paralyse connectivity if the war continues.
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The ongoing crisis in West Asia may severely affect India on many counts. If the war continues for a few weeks or more, it will undoubtedly impact the country's energy security and jeopardise the safety of the Indian diaspora and paralyse connectivity with other continents like Europe and America. Sensing the gravity of the situation, Prime Minister Narendra Modi has termed the West Asian situation as ‘volatile and disturbing’, urging the nations to find a solution through dialogue and diplomatic means. He has also expressed concern over thousands of Indians residing in various West Asian countries, informing that talks are underway with various governments regarding their safe return to India. But New Delhi’s job will not be over by evacuating its citizens residing in the troubled region; providing them an alternative livelihood will pose a bigger challenge as the country’s employment scenario looks bleak at present.
The price of crude oil has breached $ 80 per barrel from $ 72 following the war. The crude prices may further go up as Iran has blocked the Hormuz Strait through which India imports 52 per cent of crude to meet its energy needs. Many believe that India may have to continue importing oil from Russia despite the US's objections to address the rising oil price. India’s petroleum reserves can last 74 days in case of a total global turbulence, as per Oil Minister Hardeep Singh Puri, so a prolonged war will affect us. Apart from the fear of energy security disruption, the ongoing conflict has badly affected the aviation sector. Over the years, West Asian airports like Dubai, Doha, and Abu Dhabi have become crucial transit hubs for Indian and South Asian travelers connecting to Europe and America. Following the retaliation by Iran in wake of the US-Israel attack, over 100 flights from various Indian airports have been cancelled as almost all the West Asian airports are closed at present on security grounds.
In this volatile situation, India can play a crucial role by mediating between the warring sides, as New Delhi maintains friendly relations with all parties involved in this crisis. It may be noted that India and Iran are among the oldest civilizations in the world and have shared a cordial relationship throughout history. The two nations are working closely on various sectors, including the Chabahar port project, which serves as a gateway for India to Central Asian countries and Afghanistan, bypassing Pakistan. Similarly, despite some differences, New Delhi and Washington are on the verge of signing a trade deal and India has also established strong ties with Israel. Furthermore, India is also close to Muslim countries like the United Arab Emirates (UAE), among others. The country's strong commitment to peace and non-violence also makes it a suitable mediator for the ongoing crisis, which could escalate if not intervened. New Delhi must walk the extra mile to prevent the war from escalating further.