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| Image Source - The Wall Street Journal Blog |
A bold and a historic deal: Iran gets to keep its nuclear programme. Now, we know that it does send us the chills. But on the brighter side we do have few positives, if not a more.
What does it do to Iran that consequently is going to help India?
Billions worth of frozen oil resources can be put to use for the revival of Iran’s already bad economy. Because, there is a drastic increase in the production of oil, there definitely is going to be dip in price. Particularly for India, lower crude prices will bring down imports and government’s subsidy bill. Every dollar drop in oil prices cuts government’s subsidy burden by $1 billion.
Lifting of sanctions against Iran will enable Indian firms to participate in the road and rail projects. Narendra Modi firmly believes that, Iran is central to India’s plan for physical access to central asia.
It is our wish and hope that Iran’s nuclear deal is going to lend a hand for the revival of many developing countries in particular and not produce nuclear bomb and start a war again. Obama claims that the “deal is not built on trust. It is built on verification.” Only time will tell if the verification can be trusted.
- Koushik S ( XIME-Bangalore : PGDM 2015-17 )
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