Shine india monthly magazine

Shine india monthly magazine

Shine india monthly magazine Published this article page no  63 Volatility in Oil prices and Its impact on Indias economy Until May 2019 India was the second largest buyer of crude oil from Iran. Any disruption in supply or price hike could deplete our countrys foreign reserves. The embargo by USA has also restricted India from buying oil from Iran.  Effect on Indias Diaspora in Iran and the middle east In case of a fullyfledged war the safety and security of vast Diaspora in the Gulf can be at stake.  Remittance More than 50% of total remittance received by India last year came from the gulf region. Disturbance in the region would lead to decline in such remittances.  Trade Indias trade is heavily reliant on the Strait of Hormuz and its blockade would adversely affect trade. Also status of Chabahar Port may also come in question.  Security The US has ordered resumption of military training to Pakistan which it had suspended in 2018 after accusing it of not doing enough to counter terrorist groups as part of its wider West Asia strategy. This could impact overall security of the region as several terrorist outfits may become active in the region. Conclusion Tensions between the United States and Iran have been occurring for decades. Thus a breakthrough from the vicious cycle of USIran hostility would require statesmanship in both the countries with the vision to break the stalemate. 25 Developments in this period  Enactment of the Jammu and Kashmir Reorganisation Act 2019 leading to the creation of two new Union Territories.  Unpredictable global scenario which is experiencing an overall slowdown in the backdrop of USChina trade war volatile geopolitical and oil politics situation. o Economic slowdown in India owing to factors such as weak investments exports and consumer confidence Shine india monthly magazine buy. 

Shine india monthly magazine