US-Iran war, March 8 -- Amid soaring crude oil prices due to rising tensions in the Middle East, the Indian economy has not just the task of containing inflation, but also ensuring the safety of its trade at the Chabahar Port and the Rs.15,000 crore bilateral trade that New Delhi and Tehran have. The Indian government has already made $120 million financial commitment to Iran. The US sanctions waiver for India to operate from the Chabhar Port expires on 26 April 2026, an uncomfortably narrow window for New Delhi to recalibrate. Apart from this, the two nations had a bilateral trade to the tune of over Rs.15,000 crore, which is lying in limbo due to the joint military attack of Israel and the US on Iran.

Speaking on the impact of the US-I...