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Experts see minimal impact on indian pump prices, stalemate over IMEC
The Business Guardian
|April 16, 2024
The impact of Iran-Israel conflict on India does not cover a rise in petrol prices in India even as experts see a likely continuation of shipping disruptions at Red Sea and the India Middle East Corridor project remaining on paper.
With Iran finally striking Israel with drones and missiles over the weekend, tensions continued to mount in the global landscape. However, Asian markets were trading on Monday morning as market participants looked confident of a truce in the Middle East after the Biden administration urged Israel not to take retaliatory action against Iran, according to Avdhut Bagkar Technical and Derivatives Analyst, StoxBox, an investment advisory firm.
A report by the Global Trade Research Initiative suggests a deeper unrest as India's trade problems due to shipping disruption in the Red Sea may aggravate because of the fresh conflict between Iran and Israel. The instability in West Asia could force projects like the IMEC Trade corridor to remain on paper for long time. The tensions might not affect petrol prices in India, says GTRI.
Denne historien er fra April 16, 2024-utgaven av The Business Guardian.
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