Experts Warn Against Prolonged Conflict, Highlight Risks To Economy And Livelihoods

Industry experts and global leaders voiced apprehension over ongoing geopolitical tensions, stressing that the situation should not worsen further. They underlined the urgency of resolving the conflict, noting that its consequences are already affecting economies and ordinary people.

At the Indiaspora AI Summit, Kris Gopalakrishnan explained that the current crisis is influencing not just the technology sector but multiple aspects of daily life.

He observed that LPG shortages have started impacting small businesses, including roadside vendors and neighbourhood restaurants, prompting many to return to conventional cooking methods.

Gopalakrishnan cautioned that a prolonged crisis could lead to higher oil prices, which in turn may accelerate inflation. He noted that such trends could place additional strain on both businesses and consumers.

Risks to Diaspora and Connectivity

He further highlighted concerns about India’s significant diaspora in the Middle East, stating that disruptions in the region may affect remittance flows, an important source of income for the country.

He also pointed out that key international travel and trade routes are facing interruptions, adding to global logistical challenges.

During the same event, Sanjeev Joshipura noted that geopolitical developments have become a major focus area globally and are central to discussions at the summit.

He stated that the organisation seeks to strengthen engagement between the global Indian diaspora and leaders in India to work towards long-term national objectives, including the goal of becoming a developed nation by 2047.

He added that artificial intelligence and its practical applications across sectors are also key themes of the summit, along with exploring ways for global communities to drive positive change.

Indo-American economist Gita Gopinath remarked that the global economy is currently navigating a sensitive period due to ongoing conflicts and uncertainties.

She noted that fluctuations in oil prices remain a major concern and could affect global growth. She added that sustained high oil prices may slow economic expansion worldwide, including in India.

Also Read: Sensex Plunges 1,836 Points, Nifty Declines 2.6 Per Cent Amid Middle East Tensions