West Asia war leaves India in tight spot

Severely singed by Iranimissiles across West Asia, India may have to go for drastic changes in the Union Budget by the monsoon session as prices soar, gas crisis derails households and businesses, FPI outflows near a record and the rupee has a mighty fall.

- Shivaji Sarkar

The cost of shipping has gone up by 300 to 400%. Iran's targeting of Gulf states has sharpened Delhi's concerns. India's equities in the Arab world - diaspora, remittances, energy, trade and institutional ties - are far deeper. India has been vocal about the “damage and destruction” there. The blasting of Qatar gas facilities impacts India critically. So does US-Isarel attack on Iran’s crucial petroleum island Kharg and preparations for Marine assaults. European nations like Germany, Norway and others are withdrawing their support to the war. US President Donald Trump has lambasted UK for not bidding his orders. The retreat of US ships Abraham Lincoln and Gerald Ford have added to the criticality. Iran’s missiles are hitting critical US establishments hurting its companies like Exxon and others.