The ongoing struggle between Iran and Israel is a matter of concern not only for the Middle East but for the whole world. This struggle is also affecting India and soon its effect will start to appear on your pocket as well. Iran-Israel struggle will increase inflation worldwide, which has started due to rising oil prices.
Fast rising crude oil prices
As soon as the Iran-Israel war began, crude oil prices increased by more than 11% and the global benchmark Brent crude reached $ 75.32 per barrel.
Experts say that if the struggle is prolonged, crude oil prices can increase by $ 120 per barrel, which will increase inflation throughout India. This means that there will be a rapid increase in fuel prices in the country, which will also increase the prices of food grains and other things.
India does not buy oil directly from Iran due to the US sanctions on Iran, yet Iran is an important player in the global oil market.
What will happen if Iran closed hormuage?
Hormuz’s Gulf is an important sea route for global oil trade. The Gulf is made up of eight islands, with seven islands occupied by Iran. One third of the world’s crude oil passes through this narrow sea route. This Gulf is even more important for India because more than two -thirds of its oil and more than half of LNG gas imports come to India.
If Iran closes this Gulf, then there will be big problems related to the supply chain. Shipping options will have to be found, which will increase the timing of shipping and increase the cost of fuel.
What can be expensive in India?
If the war continues, many everyday goods and industrial products can be expensive, especially those who are imported from Iran and Israel.
These goods can be expensive if the war continues
-Electronics and gadgets
-Rever (which will increase the prices of food grains)
-Industrial Salts, Chemical and Plastic
-Phill, dry fruits and edible oils
-Roha, Steel and Machinery
-The collision and gemstone (due to obstruction of stone imports)
India’s relations with Iran and Israel
India is working hard to balance its relations with both Iran and Israel as India has good relations with both countries.
Talking about India-Israeli trade, there is a trade of electronics, defense technology, chemicals and fertilizers etc. between the two. At the same time, if we talk about India-Iran trade, then there is a trade of fruits, chemical, cement, salt and fuel products between the two countries.
Recent figures show that India’s exports to Iran increased by 47.1% between March 2024 and 2025, while imports from Iran declined by 23.6%.
How much effect will be on your pocket?
Iran-Israel War will affect your pockets in many ways like-
-The fuel bill will increase as the prices of petrol, diesel and LPG may increase.
– Transportation will become expensive, due to which goods and grocery items can become expensive.
-Shet Gadget: Electronics prices may increase due to slow imports.
-Inflation of foods: The cost of the crop will increase due to the increase in the prices of fertilizer and if this happens, the prices of food grains will increase.
In such a situation, there is a demand of the hour that India should be ready for the shaking coming in supply and consider diversity in energy and trade routes to stay safe.
Also read- Trump can give Iran ‘last chance’ amidst the war with Israel, but America will be able