Suleimani’s Killing may be a concern for Indian Economy

News Desk

The killing of head of Iran’s Quds Force, Qasem Soleimani by US may trigger a tension between America and Iran. Oil prices soared more than four percent following claims that the US had killed a top Iranian general, ratcheting up tensions between the foes and fuelling fears of a conflict in the crude-rich region.

Any conflict amongst crude-rich region would not only have an impact on energy supplies but it could also affect eight million Indian’s living in West Asia. In Saudia Arabia alone, nearly three million Indians live and work that faced huge exodus in past conflicts. Any possible conflict may effect Indian economy which is already grappling with a host of other problems.

The Indian nationals in West Asia account for about $40 billion of the $70 billion that India receives in remittances annually. Any conflict between the US and Iran would also have implications for India’s project to develop the strategic port of Chabahar, which is central to Indian plans to ferry supplies to war-torn Afghanistan and to also access Afghan and Central Asian markets while by passing Pakistan.

Following external affairs minister S Jai shankar’s recent visit to Iran, the two sides had agreed to take steps to boost the economic viability of Chabahar following the achievement of political objectives for developing the port. Any conflict between the US and Iran is bound to hamper such plans.