India Faces Pressure From Iran War
As the conflict involving Iran enters its third month with no clear resolution in sight, Indian Prime Minister Narendra Modi has urged citizens to reduce spending and conserve resources amid growing economic pressure linked to rising global energy costs. Speaking during a public event in Hyderabad, Modi encouraged Indians to work from home when possible, limit unnecessary foreign travel, reduce fuel consumption and avoid excessive purchases of gold. The appeal has drawn comparisons to the Covid-19 period, when the government relied on nationwide public participation to manage economic and social challenges. This time, the government’s focus is on protecting India’s foreign exchange reserves and limiting pressure on the national economy as the war in the Middle East disrupts global energy markets. India remains heavily dependent on imported energy, purchasing nearly 90% of its crude oil and about half of its […]