Iran-Israel Conflict Escalates, Impacting India's Exports

Iran-Israel Conflict Escalates, Impacting India's Exports

Oct 09 World Standard

HISTORY

The relationship between Iran and Israel were not good from so long. Iran was the one of the first countries in the region to recognise Israel after its formation. Israel attacked  Iran first on April 12 in response of its targeting of an Iranian consulate in Syria.It led to the death of its senior commanders.

IMPLICATIONS

Due to the war between Iran and Israel there has been a great economic impact on exports in India. Exports fell by 9% in August 2024 due to substantial 38% decline in petroleum caused by Red Sea crisis. The tea industry is particularly falling with Iran which used to be the largest importers of Indian tea.

WHAT HAPPENED?

Previously Israel and Iran had been engaged in a years-long war- attacking each other's assets without admitting responsibilities they had. Those attacks have leveled up during war in Gaza.. Iran launched more than 300 drones and missiles towards Israel. Iran is much bigger than Israel and have a huge population of around 90 million.

HarshitKulhan

Crafting cinematic stories through the lens of my phone, I am a blogger and content writer who expresses the essence of my blogs through words

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