TESTING TIMES: Israel-Iran war underlines India’s economic resilience
By Fawzia Moodley:
India and Iran flags (Image: PIB India)
As a tenuous ceasefire holds between Israel and Iran after a 12-day war in June, the conflict served to underline India’s economic resilience in the face of an increasingly volatile situation in the Middle East. It was also a reminder for India to decrease its reliance on Israel (and Russia) for weapons by building its own arms industry.
Had the Israel-Iran conflict escalated, leading to massive oil price increases, India’s economy, like that of most other countries, would undoubtedly have been hard hit. The 12 days of fighting turned out to be a test of India’s economic resilience and policy direction. The country came out with flying colours, proving to be a stable beacon in an uncertain geopolitical global stage...
