Even if there is an early agreement on a cessation of hostilities in Iran, the price shock will not go away easily. Global prices of oil and gas will remain elevated.
Share of trade with FTA partners rose from 4.6% in 2006 to 28.8% in 2024. India is currently negotiating or advancing agreements with US, Israel, GCC, Canada & Mexico.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
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