West Asia Conflict Triggers Market Crash and Political Storm in India

New Delhi, March 9: The ongoing conflict in West Asia involving the United States, Israel, and Iran has begun affecting India’s economy and domestic politics. On Monday, Indian stock markets saw a sharp fall while Parliament witnessed protests by opposition leaders over the government’s handling of the situation.

The BSE Sensex dropped by more than 2,500 points and the Nifty 50 also declined significantly, marking one of the biggest market slides in recent years. The fall wiped out around ₹25 lakh crore of investor wealth, largely due to global uncertainty and investors shifting money to safer assets.

A major concern for India is the surge in global crude oil prices, which have crossed $120 per barrel amid the conflict. Since India imports most of its oil, rising prices could increase inflation, widen the trade deficit, and slow economic growth.

The situation has also triggered political tensions in Parliament. Opposition leaders including Rahul Gandhi and Mallikarjun Kharge staged protests demanding a detailed discussion on the crisis and criticised the government’s response.

Responding to the concerns, External Affairs Minister S. Jaishankar said the government is closely monitoring developments and prioritising India’s energy security and the safety of Indian citizens in the region.

Experts warn that if the conflict continues, rising oil prices and global uncertainty could put further pressure on India’s economy and financial markets.