Iran War: India Faces Economic Crisis, China Gains Advantage, Warns Brahma Chellaney

• Diplomatic expert Brahma Chellaney warns India will bear the heaviest economic impact of the Israel-Iran war, affecting energy security and common households.
• India's supply chain is at risk, with gas and oil prices set to soar and potential disruptions to exports and imports.
• Chellaney highlights India's increased reliance on expensive Gulf oil and the vulnerability of the Strait of Hormuz, a critical route for 50% of India's oil and 80-85% of LPG.
• A $10 per barrel crude oil price hike could add $13-14 billion to India's import bill, leading to inflation and a wider trade deficit.
• China benefits by increasing overland oil and gas imports from Russia, avoiding Hormuz risks, while India's reduced Russian oil imports expose it to the Gulf conflict.