PM Modi says India is bringing back citizens from Iran
Prime Minister Modi urged everyone to stay united as the U.S.-Israel-Iran conflict heats up, drawing a parallel to how India handled COVID-19.
He warned about hoarding and fake news and reassured that over 300,000 Indians have already been brought back safely from the region with emergency help ongoing.
Impact of conflict on India
This crisis matters because a significant portion of India's oil imports come from the Middle East, and disruptions could seriously impact fuel prices and the economy.
Brent crude rose to around $72/barrel, increasing pressure on government finances and subsidy commitments.
Exports like rice and electronics are also likely to be affected, with domestic prices likely to fall, affecting farmers, and tech shipments to the UAE could be disrupted.
Fertilizer prices could rise again, meaning more strain on government subsidies, all of which could affect jobs, prices, and daily life here.