Latest news with #India-MiddleEastEconomicCorridor
India Gazette
11 hours ago
- Business
- India Gazette
"India will have to navigate very cautiously": JNU Academician weighs in on Israel-Iran conflict
New Delhi [India], June 23 (ANI): As tensions escalate between Israel and Iran following US airstrikes on Iranian nuclear facilities, India's approach to the conflict has come under scrutiny. Professor Aswini Kumar Mohapatra, former Dean of the School of International Studies at Jawaharlal Nehru University, shared his insights on how India can navigate this complex situation. Speaking to ANI, Professor Aswini Kumar Mohapatra emphasised that India must proceed cautiously, avoiding hasty decisions while maintaining a balanced foreign policy. He suggested that India can play a role by encouraging Israel and Iran to engage in dialogue, promoting a negotiated settlement. 'We have to wait and watch and wait for some time, and subsequently, at the appropriate international forum, India has to make its position quite clear towards a peaceful settlement, more towards international efforts being focused on establishing a semblance of peace and stability in the region,' Mohapatra told ANI. He noted that these actions benefit India, as we have big plans, such as the India-Middle East Economic Corridor, and productive economic relations. The IMEC faces risks from the conflict, which threatens its progress and impacts bilateral trade and regional economic dynamics. Furthermore, shipping disruptions in the Red Sea and surrounding waters could cause delays, higher shipping costs, and instability in global trade routes. He underscored, 'Rather than being entangled in the regional can look forward to some kind of semblance of peace and stability in the region' to contain the conflicts in the region and prevent their explosion or expansion.' The conflict could challenge global oil markets, impacting India's energy security. Mohapatra suggested that these challenges are possible but will depend on how the situation unfolds. Since the war began on June 13, global Brent crude prices have risen by around 11 per cent, from levels of $67.34 per barrel on June 12 to around $74.6 per barrel on Tuesday. This is a significant spike, and several global financial firms are projecting that oil could cross $100 per barrel in case the crisis continues and worsens. On being asked whether India can be a mediator in the Israel-Iran conflict, Professor Mohapatra told ANI that it is possible; however, India may not act alone as a mediator but also be joined by other neutral partners such as the European Union for mediation. The Israel-Iran conflict triggered serious concern among major stakeholders in the region, including India. For India, which imports nearly 2 million barrels of oil daily through the crucial Strait of Hormuz, any instability would mean supply shortages, spiralling energy costs, rising inflation, and constraints on economic growth. India is highly vulnerable to global oil price volatility; a sustained surge from regional conflict could trigger higher inflation, strain the fiscal balance, slow economic growth, and shift investor sentiment towards bonds and gold, as reflected in weaker Sensex and Nifty openings. India's key connectivity projects, such as the Chabahar port in Iran, which links it to Afghanistan and Central Asia, could be affected by regional turmoil and International North South Transport Corridor, which Russia, India, and Iran initiated, is a multi-modal transportation project linking the Indian Ocean and Persian Gulf to the Caspian Sea via Iran, and onward to northern Europe via St Petersburg in Russia. This corridor aims to reduce transit times to about 25 days -- 20 days fewer than the Suez Canal route -- and cut freight costs by 30 per cent. The INSTC envisages the movement of goods from Mumbai to Bandar Abbas in Iran by sea; from Bandar Abbas to Bandar-e-Anzali, an Iranian port on the Caspian Sea, by road; from Bandar-e-Anzali to Astrakhan, a Caspian port in the Russian Federation by ship across the Caspian Sea; and onward to other parts of the Russian Federation and Europe by rail. India has built robust relations with Israel, especially in defence, technology, and innovation areas. However, as tensions escalate, India could find itself challenged, facing pressure to take sides -- an outcome it would prefer to avoid. A worsening Israel-Iran conflict risks disrupting India's delicate diplomatic balance, which it has effectively maintained over the past decade with Israel, Iran, and the Gulf Arab nations. Indian Ministry of External Affairs spokesperson Randhir Jaiswal on Friday urged both Israel and Iran 'to avoid any escalatory steps,' saying India has 'close and friendly' relations with the two nations. Bringing to attention how the US President, despite giving a 2 week window, saw the launch of aerial strikes on Iranian nuclear sites in two days' time, Mohapatra said, 'Let's wait for the things to cool down and then I see the prospect of India's involvement along with other countries, because India's mediation will be acceptable to both the parties, Israel as well as Iran.' Mohapatra noted that while India could act as a mediator, it might be more effective to do so alongside neutral partners like the European Union and proposed that India could work with other countries or groups, such as BRICS, the UN Security Council, or the US, China, and Russia, to facilitate a peaceful resolution. 'It could be the involvement of BRICS, European countries, the United Nations Security Council, or the leading countries in the world- China, Russia, India, together, all kinds of formations. I see that it does exist in the realm of possibilities.' His remarks came against the backdrop of the US launching an attack on three Nuclear sites in Iran. US Defence Secretary Pete Hegseth confirmed the success of the operation launched by the US in Iran on Sunday. Operation Midnight Hammer targeted three key nuclear sites in Fordow, Natanz, and Isfahan in Iran. (ANI)
India Gazette
15 hours ago
- Business
- India Gazette
"India will have to navigate very cautiously": Ex JNU Academician weighs in on Israel-Iran conflict
New Delhi [India], June 23 (ANI): As tensions escalate between Israel and Iran following US airstrikes on Iranian nuclear facilities, India's approach to the conflict has come under scrutiny. Professor Aswini Kumar Mohapatra, former Dean of the School of International Studies at Jawaharlal Nehru University, shared his insights on how India can navigate this complex situation. Speaking to ANI, Professor Aswini Kumar Mohapatra emphasised that India must proceed cautiously, avoiding hasty decisions while maintaining a balanced foreign policy. He suggested that India can play a role by encouraging Israel and Iran to engage in dialogue, promoting a negotiated settlement. 'We have to wait and watch and wait for some time, and subsequently, at the appropriate international forum, India has to make its position quite clear towards a peaceful settlement, more towards international efforts being focused on establishing a semblance of peace and stability in the region,' Mohapatra told ANI. He noted that these actions benefit India, as we have big plans, such as the India-Middle East Economic Corridor, and productive economic relations. The IMEC faces risks from the conflict, which threatens its progress and impacts bilateral trade and regional economic dynamics. Furthermore, shipping disruptions in the Red Sea and surrounding waters could cause delays, higher shipping costs, and instability in global trade routes. He underscored, 'Rather than being entangled in the regional can look forward to some kind of semblance of peace and stability in the region' to contain the conflicts in the region and prevent their explosion or expansion.' The conflict could challenge global oil markets, impacting India's energy security. Mohapatra suggested that these challenges are possible but will depend on how the situation unfolds. Since the war began on June 13, global Brent crude prices have risen by around 11 per cent -- from levels of $67.34 per barrel on June 12 to around $74.6 per barrel on Tuesday. This is a significant spike -- and several global financial firms are projecting that oil could cross $100 per barrel in case the crisis continues and worsens. On being asked whether India can be a mediator in the Israel-Iran conflict, Professor Mohapatra told ANI that it is possible; however, India may not act alone as a mediator but also be joined by other neutral partners such as the European Union for mediation. The Israel-Iran conflict triggered serious concern among major stakeholders in the region, including India. For India, which imports nearly 2 million barrels of oil daily through the crucial Strait of Hormuz, any instability would mean supply shortages, spiraling energy costs, rising inflation, and constraints on economic growth. India is highly vulnerable to global oil price volatility; a sustained surge from regional conflict could trigger higher inflation, strain the fiscal balance, slow economic growth, and shift investor sentiment towards bonds and gold, as reflected in weaker Sensex and Nifty openings. India's key connectivity projects, such as the Chabahar port in Iran, which links it to Afghanistan and Central Asia, could be affected by regional turmoil and International North South Transport Corridor, which Russia, India, and Iran initiated, is a multi-modal transportation project linking the Indian Ocean and Persian Gulf to the Caspian Sea via Iran, and onward to northern Europe via St Petersburg in Russia. This corridor aims to reduce transit times to about 25 days -- 20 days fewer than the Suez Canal route -- and cut freight costs by 30 per cent. The INSTC envisages the movement of goods from Mumbai to Bandar Abbas in Iran by sea; from Bandar Abbas to Bandar-e-Anzali, an Iranian port on the Caspian Sea, by road; from Bandar-e-Anzali to Astrakhan, a Caspian port in the Russian Federation by ship across the Caspian Sea; and onward to other parts of the Russian Federation and Europe by rail. India has built robust relations with Israel, especially in defence, technology, and innovation areas. However, as tensions escalate, India could find itself challenged, facing pressure to take sides -- an outcome it would prefer to avoid. A worsening Israel-Iran conflict risks disrupting India's delicate diplomatic balance, which it has effectively maintained over the past decade with Israel, Iran, and the Gulf Arab nations. Indian Ministry of External Affairs spokesperson Randhir Jaiswal on Friday urged both Israel and Iran 'to avoid any escalatory steps,' saying India has 'close and friendly' relations with the two nations. Bringing to attention how the US President, despite giving a 2 week window, saw the launch of aerial strikes on Iranian nuclear sites in two days' time, Mohapatra said, 'Let's wait for the things to cool down and then I see the prospect of India's involvement along with other countries, because India's mediation will be acceptable to both the parties, Israel as well as Iran.' Mohapatra noted that while India could act as a mediator, it might be more effective to do so alongside neutral partners like the European Union and proposed that India could work with other countries or groups, such as BRICS, the UN Security Council, or the US, China, and Russia, to facilitate a peaceful resolution. 'It could be the involvement of BRICS, European countries, the United Nations Security Council, or the leading countries in the world- China, Russia, India, together, all kinds of formations. I see that it does exist in the realm of possibilities.' His remarks came against the backdrop of the US launching an attack on three Nuclear sites in Iran. US Defence Secretary Pete Hegseth confirmed the success of the operation launched by the US in Iran on Sunday. Operation Midnight Hammer targeted three key nuclear sites in Fordow, Natanz, and Isfahan in Iran. (ANI)
Russia Today
20-02-2025
- Politics
- Russia Today
India is way too eager to embrace Trump's America
Prime Minister Narendra Modi's working visit to the White House in Washington on February 13 sends a message that India is in a hurry to align with the United States, something it shrewdly avoided over the 75 years since liberation from British colonial rule. It stems from India's quest to carve out a place in the sun, a dream assiduously fostered by the Hindu nationalist government, which the country's elites largely have come to equate with a geopolitical alliance with the US. Of course, there is the flip side to it insofar as getting closer to the sun has its inherent dangers; the moral of the Icarus myth of ancient Greeks. The Trump administration hallmark seems to combine a religious zeal with a frankly colonial approach, which morally, politically and geopolitically, should be anathema to Indian sensibilities. A realistic assessment is lacking among Indian elites about the international situation, almost entirely attributable to their delusional thinking that the US can help India become a superpower to match China. Thus, a talking point for Modi with Trump might well have been the revival of the moribund India-Middle East Economic Corridor (IMEC) to rival China's belt and road initiative. But then Israeli PM Benjamin Netanyahu's blurted out that Saudi Arabia could be an ideal location to resettle Palestinians evicted from Gaza. Riyadh, which could have been the IMEC's main financier, went ballistic. India has not uttered a word about the US-Israeli plans for ethnic cleansing in Gaza or Trump's bizarre idea of taking over Gaza and transforming into the Riviera of the Middle East — something that has drawn criticism from the rest of the world — and support for the Abraham Accords. It's the unipolar predicament, stupid! Trump is unceremoniously cutting loose his European allies and expects them to fend for themselves, following the NATO's defeat in Ukraine. This vista arose when the new US Defence Secretary Peter Hegseth made his maiden appearance at the NATO defence ministers meeting in Brussels last week. When asked about US commitment to Article 5 of NATO charter on collective security, Hegseth instead drew attention to Article 3 on the principle of resilience, which says, 'In order more effectively to achieve the objectives of this (NATO) Treaty, the Parties, separately and jointly, by means of continuous and effective self-help and mutual aid, will maintain and develop their individual and collective capacity to resist armed attack.' What took the breath away was the plain speaking a couple of days later by Vice President J.D. Vance in his fiery remarks at the Munich Security Conference. He laid bare the collapse of the transatlantic alliance and signalled that the dispute between Europe and the US is no longer to do with sharing military burdens, or a perceived threat from Russia, but something more fundamental about Europe's society and political economy. The greatest danger to Europe, Vance underscored, was not Russia, not China, but a 'danger from within'. Vance portrayed a continent that has lost its way, and stopped just short of warning that the moral purpose of NATO itself is falling away. Indeed, the implications for Ukraine are enormous. It was left to Vladimir Zelensky to later lament at the Munich event: 'The US vice-president made it clear: decades of the old relationship between Europe and America are ending. From now on, things will be different, and Europe needs to adjust to that.' How come when history is unfolding, the Indian elites behave like lotus eaters, myopic about the magnitude of US retrenchment? The malaise is prevalent even among India's elites in Congressan and its opposition party. The elites are oblivious to the geopolitical reality, that war is not an option for the US vis-a-vis China (if it ever was.) Basically, Trump is intensely conscious that the US should not exhaust its resources by waging wars and, therefore, must avoid making hollow promises to leaders like Modi or Netanyahu. In fact, at the joint press conference with Modi on Friday, Trump openly called for peace between India and China and offered to help. Gone are the days when Americans would encourage India to show the middle finger to China across the Himalayas and the elites in India would get ecstatic. Trump also never once mentioned Quad group comprising Australia, India, Japan, and the US. China's role as the economic engine that drives the world economy seems to weigh on Trump's mind 24/7. Whereas the US ended 2024 with a trade deficit exceeding one trillion dollars, China chalked up a trade surplus of the same amount! Trump openly acknowledged the global tech power shift following the arrival of China's AI model DeepSeek. The bottom line is that Trump played Modi nicely by praising him as a 'tough negotiator' while also holding in suspended animation the weaponisation of 'reciprocal tariffs' like a sword of Damocles, to ensure India's good behaviour. And he ended up selling to India an additional $10 billion of energy annually, generating an export business of anywhere between $15bn to $25bn a year. Trump sees the Modi government as a milch cow for lubricating America First and coaxes it to buy more weaponry from American vendors, including F-35 stealth fighters. According to a report last February by the US Government Accountability Office, it would take the Modi government at least $1.7 Trillion to purchase, operate and sustain F-35's through the aircraft's 66-year life cycle, due to high maintenance costs and developmental delays. In geopolitical terms, the purchase of such a futuristic weapon system virtually 'locks in' India as a US ally. Where is it that Indian vulnerability lies is anybody's guess. Modi's visit to the US in such unseemly haste to insert India into Trump's foreign policy toolbox exposes clueless policymakers in Delhi in a dynamic global geopolitical environment. A strategy of multi-alignment anchored firmly on India's time-tested relationship with Russia is an available option that suits India's needs,preserves its strategic autonomy and independent foreign policy. And that when the Trump administration too intends to 'potentially work together (with Russia).' But at the joint press conference with Trump, Modi preferred to harmonise with the US stance on the Ukraine war, he robustly asserted India's distance from Moscow and equidistance vis-a-vis Moscow and Kiev, and he went on to echo Trump's mantra of an immediate ceasefire for vicarious reasons in the American interest. What was the need to flaunt such eagerness when a peace settlement on Russia's terms is a plausible outcome, it appears, and is something Trump himself may have come to accept? Indeed, the paradox is, a nadir has been reached in the Indian elites' unipolar predicament at a juncture when even the Trump administration is getting accustomed to the growing signs of multipolarity in the world order, which renders obsolete the cold war style 'bloc mentality'.
