West Asia Crisis Impact on India – Artifex.News https://artifexnews.net Stay Connected. Stay Informed. Fri, 04 Oct 2024 18:30:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://artifexnews.net/wp-content/uploads/2023/08/cropped-Artifex-Round-32x32.png West Asia Crisis Impact on India – Artifex.News https://artifexnews.net 32 32 India On West Asia Tensions https://artifexnews.net/situation-is-of-deep-concern-for-us-india-on-west-asia-tensions-6718286rand29/ Fri, 04 Oct 2024 18:30:18 +0000 https://artifexnews.net/situation-is-of-deep-concern-for-us-india-on-west-asia-tensions-6718286rand29/ Read More “India On West Asia Tensions” »

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Indian nationals are advised to avoid all non-essential travel to Iran, MEA said. (Representational)

New Delhi:

The Ministry of External Affairs expressed deep concern over the escalating tensions in West Asia, involving Israel, Iran, and Lebanon, and asserted that “it is important that this conflict doesn’t take a wider regional dimension.”

MEA spokesperson Randhir Jaiswal also confirmed that the country is currently not conducting evacuation processes from Israel, Iran, or other nations amid the tensions.

During a press briefing, Randhir Jaiswal on tensions in West Asia said, “We issued a statement a few days back expressing deep concern – we said that the violence and the situation is of deep concern for us. We had reiterated a call for restraint by all concerned and also the protection of civilians. It is important, in our opinion, that this conflict doesn’t take a wider regional dimension and we urge that all issues be addressed through dialogue and diplomacy.”

Notably, India on Wednesday had called for restraint by all actors in West Asia and protection of civilians due to the worsening security situation in the region.

Indian nationals have been urged to exercise caution and avoid non-essential travel to Iran, the Ministry of External Affairs said in a statement on Wednesday. The advisory stated that Indian citizens, who are currently residing in Iran, should stay vigilant and remain in contact with the Indian Embassy in Tehran.

“We are closely monitoring the recent escalation in (the) security situation in the region. Indian nationals are advised to avoid all non-essential travel to Iran. Those currently residing in Iran are requested to remain vigilant and stay in contact with the Indian Embassy in Tehran,” the MEA said.

The advisory followed the regional instability caused by Iran’s ballistic missile attack on Israel, which triggered retaliatory measures and widespread military engagement between Israel and Hezbollah in Lebanon.

Meanwhile, on the question of repatriation, Randhir Jaiswal said, “… As of now, from Israel, Iran and other countries, flights are running. So people have the option if they want to leave. Families have reached out to us and to our embassies, but at this point, we don’t have any evacuation process going on.”

Elaborating on the number of Indians in different nations, Randhir Jaiswal added, “We have around 3,000 people in Lebanon, mostly in Beirut; in north Beirut and in north Lebanon, which is away from where the fight is taking place… In Iran, we have around 10,000 people, around 5,000 of them are students… In Israel, we have around 30,000 people, largely caregivers and workers…”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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PM Modi Chairs Urgent Top-Level Security Meet On Widening West Asia Crisis https://artifexnews.net/pm-modi-chairs-urgent-top-level-security-meet-on-widening-west-asia-crisis-6710175rand29/ Thu, 03 Oct 2024 19:57:33 +0000 https://artifexnews.net/pm-modi-chairs-urgent-top-level-security-meet-on-widening-west-asia-crisis-6710175rand29/ Read More “PM Modi Chairs Urgent Top-Level Security Meet On Widening West Asia Crisis” »

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New Delhi:

Prime Minister Narendra Modi called an urgent meeting of the government’s topmost decision-making body – the Cabinet Committee on Security over the crisis in West Asia.

The committee comprising the Prime Minister, the Home Minister, the Defence Minister, the Foreign Minister, the Finance Minister and the National Security Adviser, discussed in detail the fresh hostilities in the Middle East and the sharp escalation after Iran’s ballistic missile attack on Israel.

Describing the recent developments in West Asia as “deeply concerning”, the highest committee in the country delved upon various issues arising from the ongoing and widening crisis.

Among several key issues, they discussed the impact on trade, navigation, and supply chains – especially the supply of oil, petroleum, and its products.

India has urged all parties involved in the conflict to address all issues urgently, and through diplomacy and dialogue. New Delhi has also said that the ongoing conflict “must not take a wider regional dimension.”

IMPACT ON MARITIME TRADE AND SUPPLY CHAINS

A conflict doesn’t just affect those who are party to it, but has a fallout that impacts the rest of the region and even the world. With the sharp escalation between Iran and Israel, India is bracing for wider trade disruptions across the key Red Sea and Gulf of Aden routes.

The conflict can lead to significantly higher cargo freight tariffs as Lebanon’s Iran-backed Hezbollah militants have close ties with the Houthi rebels in Yemen, who are responsible for most attacks on merchant ships and vessels carrying cargo via the Red Sea and Gulf of Aden routes.

The Red Sea crisis began in October last year, when Iran-backed Houthi militia disrupted global trade in the area. For India alone, it affected petroleum exports which dropped 37.56 per cent to $5.96 billion in August this year, down from $9.54 billion in the same month last year.

The Red Sea route followed by the Suez Canal accounts for 50 per cent of India’s exports – worth Rs 18 lakh crore, and 30 per cent of imports, worth Rs 17 lakh crore, as per data from 2023.

India’s overall merchandise trade (exports and imports combined) in FY23 was Rs 94 lakh crore, with 68 per cent (in value terms) and 95 per cent (in volume terms) shipped by sea.

India also trades heavily with the Gulf nations. As per the latest government data, the Gulf Cooperation Council or GCC now contributes 15 per cent of India’s total trade, and sectors like energy, defence, security, and health are growing rapidly in the region. The bilateral trade between India and the Gulf Cooperation Council countries reached $162 billion last year.
 




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PM Modi Chairs Urgent Top-Level Security Meet On Widening West Asia Crisis https://artifexnews.net/pm-modi-chairs-urgent-top-level-security-meet-on-widening-west-asia-crisis-6710175/ Thu, 03 Oct 2024 19:57:33 +0000 https://artifexnews.net/pm-modi-chairs-urgent-top-level-security-meet-on-widening-west-asia-crisis-6710175/ Read More “PM Modi Chairs Urgent Top-Level Security Meet On Widening West Asia Crisis” »

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New Delhi:

Prime Minister Narendra Modi called an urgent meeting of the government’s topmost decision-making body – the Cabinet Committee on Security over the crisis in West Asia.

The committee comprising the Prime Minister, the Home Minister, the Defence Minister, the Foreign Minister, the Finance Minister and the National Security Adviser, discussed in detail the fresh hostilities in the Middle East and the sharp escalation after Iran’s ballistic missile attack on Israel.

Describing the recent developments in West Asia as “deeply concerning”, the highest committee in the country delved upon various issues arising from the ongoing and widening crisis.

Among several key issues, they discussed the impact on trade, navigation, and supply chains – especially the supply of oil, petroleum, and its products.

India has urged all parties involved in the conflict to address all issues urgently, and through diplomacy and dialogue. New Delhi has also said that the ongoing conflict “must not take a wider regional dimension.”

IMPACT ON MARITIME TRADE AND SUPPLY CHAINS

A conflict doesn’t just affect those who are party to it, but has a fallout that impacts the rest of the region and even the world. With the sharp escalation between Iran and Israel, India is bracing for wider trade disruptions across the key Red Sea and Gulf of Aden routes.

The conflict can lead to significantly higher cargo freight tariffs as Lebanon’s Iran-backed Hezbollah militants have close ties with the Houthi rebels in Yemen, who are responsible for most attacks on merchant ships and vessels carrying cargo via the Red Sea and Gulf of Aden routes.

The Red Sea crisis began in October last year, when Iran-backed Houthi militia disrupted global trade in the area. For India alone, it affected petroleum exports which dropped 37.56 per cent to $5.96 billion in August this year, down from $9.54 billion in the same month last year.

The Red Sea route followed by the Suez Canal accounts for 50 per cent of India’s exports – worth Rs 18 lakh crore, and 30 per cent of imports, worth Rs 17 lakh crore, as per data from 2023.

India’s overall merchandise trade (exports and imports combined) in FY23 was Rs 94 lakh crore, with 68 per cent (in value terms) and 95 per cent (in volume terms) shipped by sea.

India also trades heavily with the Gulf nations. As per the latest government data, the Gulf Cooperation Council or GCC now contributes 15 per cent of India’s total trade, and sectors like energy, defence, security, and health are growing rapidly in the region. The bilateral trade between India and the Gulf Cooperation Council countries reached $162 billion last year.
 




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