Sitharaman pledges to minimise impact of Israel-Iran conflict

Union Finance Minister Nirmala Sitharaman assured that India will take necessary steps to lessen the impact of the Israel-Iran conflict during an interview with CNBC Awaaz on April 18. She mentioned that the government will act quickly as needed, although admitting that full readiness cannot be claimed at the moment.

The tension escalated in the Middle East on April 13 when Iran launched drones and missiles at Israel, heightening concerns globally. One potential consequence could be a surge in crude oil prices, which might affect India significantly as it imports around 85 percent of its oil needs. Sitharaman mentioned India's plan of action for fluctuating oil prices after COVID-19, such as boosting imports from Russia. India's response to Israel-Iran tensions

Sitharaman's statement on the Israel-Iran conflict stressed that decisions are made in India's interest after discussions with relevant government departments. In a separate event, Sitharaman highlighted India's economic growth, stating it has been the fastest-growing economy for the past three years and can sustain this trajectory in the coming years. Besides addressing the Israel-Iran conflict, she expressed confidence in India's economic future, highlighting the critical role the next 25 years will play.

Sitharaman pledges to take necessary actions to safeguard interests, focusing on India's readiness to navigate challenges and sustain economic growth.