If the conflict between Israel and Iran escalates, the supply chain around the world can be badly affected. In fact, there is a possibility of increase in the price of crude oil due to this conflict, which will also affect India.

The eyes of the whole world are fixed on the recent military confrontation between Iran and Israel. Due to the increasing tension between the two powerful countries of the Middle East, the prices of crude oil have seen a surge. Not only this, after the Israeli attack, the stock market has also been badly affected and crores of rupees of investors have been lost. There is a possibility of this war escalating further, due to which countries around the world are in tension.

If a war starts between Iran and Israel, the supply chain will be badly affected, due to which many things are likely to become expensive. In such a situation, let us know what effect will the increasing tension in the Middle East and the war between Israel and Iran have on India? What things does India order from these two countries and which things are likely to become expensive? 

What does India import from Israel?

India and Israel have had trade relations for a long time. Talking about the figures, in the financial year 2024-25, India has exported goods worth $2.1 billion to Israel, while goods worth $1.6 billion have been imported. India imports mostly defense sector related items from Israel and this country is India's 32nd largest trading partner. India imports military hardware including radar, surveillance, combat drones, missiles from Israel. Apart from this, it also imports pearls, precious stones, electrical, electronics equipment, fertilizers, chemical products. 

What does India import from Iran?

In the financial year 2024-25, India has exported goods worth $1.2 billion to Iran and imported goods worth $441.9 million. India imports crude oil, dry fruits, chemicals, glass utensils from Iran. Apart from this, Basmati rice, tea, coffee and sugar are exported from India. 

The prices of these things will increase

Experts say that the escalation of the conflict between Israel and Iran can lead to a huge surge in the price of crude oil, which will affect the entire supply chain and import-export will become expensive. Apart from this, flight fares can also increase due to the increase in tension in the Middle East. In fact, due to the closure of Pakistani airspace, Indian airlines travel through the Gulf countries. In times of war, these airlines will have to find another route.