The US-Israeli war on Iran has exposed India’s vulnerability on multiple fronts, threatening the world’s fastest-expanding major economy’s “Goldilocks” combination of strong growth and low inflation.
The war also poses a pressing foreign policy challenge to New Delhi, which has previously sought to maintain close ties with all three warring nations as part of its adherence to “strategic autonomy”.
India depends on Gulf nations not only for oil and gas but for everything from flight connections to fertiliser. Nearly 10mn Indians work in the six Gulf Cooperation Council countries, sending home over $51bn a year in remittances, while the GCC is India’s biggest trading bloc and a major source of foreign investment.
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