In between 1939 to 1945, World War II had taken place in which 4% of the total world’s population has been killed in that catastrophe. It reduced global trade by 25% and Unemployment reached above 30%.
The world had witnessed not only losses of millions of people, but also Inflation, trade deficit, disruption economically. But in some perspectives, it created employment and so forth.
But nowadays one question has been popped up to everyone’s mind. Is that WW3 is really going to happen? what if it really happens? No one has the answer.
However, the tension between Iran and USA has become a major concern for many countries including India. The Assassination of General Soleimani by the US military has led this conflict into a major issue. Iranian General Qasem Soleimani was one of the most popular figures in Iran and seen as a deadly adversary by America and its allies. Although Iran-US relations have been mostly adversarial since the 1979 Islamic Revolution in Iran. But after this assassination, the relation between two of them has become tenser as after that Iran attacked USA military base located in Iraq.
India’s Relation with Iran has not been hide from anyone. As Iran is one of the Biggest Supplier of Crude Oil for India, About 69% of Crude Oil’s consumption Iran fulfills for Indian Companies. If their tension gets increased, it would influence Crude Oil’s Importing. However As far as availability is concerned, it may not be a big issue for India because Countries such as Saudi Arabia, Venezuela or the other Mediterranean and Middle East countries can assure supplies to the country.
But continued higher prices will have an impact and will be bad for the health of the economy. If the limit breaks out between two of these behemoths, the Indian Market will get affected. If the crude oil price gets increased, it would affect petrol prices which could cause inflation in the market.
The Arabian Sea is located in the northwestern part of the Indian Ocean, situated between the Arabian Peninsula and the Indian subcontinent. This area is so important for India, As this Sea provides an important link for the neighboring areas of Iran for us, also with the Arabian Peninsula including Yemen, Oman, United Arab Emirates, Pakistan, the Horn of Africa nations, India’s trade would get affected because India’s most of the trade traffic goes through Arabian sea.
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