By- Srushti sharma
The likelihood that the Israel-Hamas conflict will spread to numerous other nations is scaring the economy since any unrest in West Asia will immediately affect the oil supplies.
The conflict poses a severe concern given the weak state of the global economy and the possibility of a US recession.
For Indian exporters, the Israel-Hamas conflict may result in higher shipping and insurance charges, which would affect bilateral trade
An intensification of Israel's conflict with Hamas might initially increase the price of imported 5G network equipment by $2,000–$2,500 crore and delay rollouts.
The projected India-Middle East-Europe Economic Corridor (IMEEC) may be significantly impacted by Israel's war
Indian exporters of home textiles and furnishings are concerned that their orders will be delayed and that their margins will suffer as a result of Hamas' onslaught on Israel.
India's pharmaceutical business is in danger of being disrupted by the Israel-Hamas war because it is preventing exports to numerous nations.
The total value of trade in gems and jewellery between India and Israel was $2.04 billion in 2022–2023 compared to $2.8 billion in 2021–2022.
If the violence continues, according to Indian enterprises that cut and polish valuable stones, their profit margins will suffer.