External Affairs Minister S Jaishankar addressed the Rajya Sabha regarding the ongoing conflict in West Asia. He assured the nation that the welfare and interest of the Indian consumer remain the overriding priority for the government. The minister highlighted the risk of serious supply chain disruptions but confirmed that the government is actively evaluating the economic impact to ensure energy security. As part of the ongoing rescue and relief operations, around 67,000 Indian nationals have already safely returned home from the conflict zones.
ℹ: IMF Warning: Prolonged War to Spike Energy Prices and Inflation, Global Economy at Risk।
How the Crisis Affects Trade and Expat Indians
The conflict in the Middle East has created severe challenges for global trade and logistics. Shipping and export costs have reportedly increased fivefold due to war-risk surcharges and the forced rerouting of commercial vessels. This directly impacts businesses and common consumers in India.
- Crude oil prices have crossed $114 per barrel due to market volatility.
- Around 45,000 Indian containers are currently stranded in the conflict region.
- Nearly 1 crore (10 million) Indians live and work in the Gulf nations, making their safety a major concern for the government.
The Indian Embassy in Tehran has stepped in to help students and business travelers. Officials are actively facilitating the relocation of Indian citizens across the border into Armenia so they can catch their flights and return home safely.
Government Defends Docking of Iranian Warship in Kochi
During the parliamentary briefing, Jaishankar also addressed questions regarding the government’s decision to allow the Iranian warship IRIS Lavan to dock at Kochi Port on March 4. The vessel had reported technical difficulties while at sea. Indian authorities approved the repair request on March 1 purely based on humanitarian grounds.
The External Affairs Minister stated that this decision follows the established guidelines of the UN Convention on the Law of the Sea (UNCLOS). Amid the escalating tensions and military strikes, India maintains a clear diplomatic stance that dialogue and diplomacy remain the only viable solutions to bring stability back to West Asia.
