Middle East Crisis Deepens India’s Economic Woes; Millions Face Unemployment
New York / New Delhi — A fresh report by the United Nations Development Programme (UNDP) has warned that the ongoing conflict in the Middle East is placing severe strain on India’s already fragile economy. According to the report, the Gulf region tensions could push an additional 2.5 million Indians into poverty, bringing the total…
New York / New Delhi —
A fresh report by the United Nations Development Programme (UNDP) has warned that the ongoing conflict in the Middle East is placing severe strain on India’s already fragile economy. According to the report, the Gulf region tensions could push an additional 2.5 million Indians into poverty, bringing the total number of people living below the poverty line to approximately 354 million.
The report further cautions that a prolonged crisis could devastate India’s Kharif crop season, triggering a serious food security emergency across the country. Most alarmingly, disruptions to trade and commerce could put nearly 90 percent of existing jobs at risk, potentially triggering one of the largest unemployment crises in recent Indian history.
The UNDP has urged the Indian government to implement immediate economic safeguards and social protection measures to cushion the blow on vulnerable populations.
Economic analysts say the ripple effects of the Middle East instability — including rising oil prices and disrupted remittances from Indian workers in the Gulf — could compound pressures on both the rupee and domestic inflation.
