Iran War Impact Shakes Global Economy, India Also Faces Challenges Says PM Modi
Prime Minister Narendra Modi warns that ongoing Iran war has disrupted global economy, affecting oil gas supply and trade routes, while India takes steps to manage economic and security challenges.
- Iran war impact affects global economy
- India faces challenges from Iran war
- PM Modi assures economic stability
Prime Minister Narendra Modi has cautioned that the ongoing conflict in West Asia is having a serious impact on the global economy, with ripple effects being felt in India as well. Speaking in the Rajya Sabha, he said the situation remains uncertain and could continue for a longer period.
He pointed out that disruptions in oil, gas and fertiliser supplies have already begun to affect multiple sectors worldwide. Trade routes have also been impacted, making global movement of goods more difficult and increasing economic pressure across countries.
Despite these challenges, the Prime Minister expressed confidence in India’s economic strength. He said the government is actively managing the situation through short term, medium term and long term strategies to ensure stability.
To strengthen energy security, India has expanded its import network significantly over the years. The country now sources energy from a wider range of nations and has built strategic reserves to handle supply disruptions. Efforts are also underway to increase domestic production and promote alternative fuels.
Modi highlighted that multiple monitoring teams have been set up to track supply demand balance, price fluctuations and trade movements. These groups are working continuously to respond quickly to any emerging issues.
He also raised concerns over disruptions in key maritime routes, stating that attacks on commercial vessels and obstacles to shipping are unacceptable and must be addressed to ensure smooth global trade.
On the humanitarian front, the Prime Minister said India has taken steps to bring back its citizens from affected regions. A large number of Indians, including students, have already been evacuated safely.
The government remains in touch with global leaders to assess the situation and reduce tensions. Officials believe that while the challenges are real, India is prepared to navigate the impact with careful planning and strong economic fundamentals.
