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Wars are perilous affairs, but the one currently underway in West Asia is especially so. It is now in its second week and impacting the Indian economy widely. Prices are rising and shortages are appearing resulting in black marketing. Agriculture, textiles, tiles, glass, plastics, hotels, restaurants, airlines and energy-intensive products are already impacted. More the war drags on, worse will be the impact. There are mixed signals as to how long the war may last, thereby creating a huge uncertainty. Ministers are putting up a brave front, saying all is in control. But the impact of the war is global and that will also boomerang on the Indian economy.

USA and its proxy Israel started bombing Iran and killed its topmost leader and much of its defence leadership right at the start of the war. The hope that this would lead Iran to capitulate and a new pliant leader of their choice could be installed has been belied. US hoped that this would enable it to gain control over the entire West Asia via an unchallenged Israel. After all, it is Iran that has stood in the way of complete US control over this important energy-rich region.

The US was emboldened by its illegitimate capture of President Maduro of Venezuela. So Iran became the next target for gaining greater control over global energy resources and making the US the predominant global power. China and Russia, the other global powers, have been unable to stall these moves. US President Donald Trump has used patently false excuses to act against Venezuela and Iran. Maduro was supposedly pushing drugs into the US and Iran was said to be on the verge of acquiring nuclear bombs and attempting to assassinate President Trump. Little evidence of any of this has been presented to the world. One is reminded of the Iraq war waged by the US on the false pretext that Iraq possessed so-called weapons of mass destruction.

President Trump’s moves are a gambit to shore up American domination – MAGA is his goal. He threatened takeover of Greenland and now it has come to Cuba. He threatened Colombo and Mexico and enunciated a present-day Monroe Doctrine for Latin America. He wanted Canada to become a state of the United States of America. Imperialism is back in full force. Tellingly, the US unabashedly renamed its Department of Defence the Department of War, which it has been waging from of its 750 overseas bases.

Iran is not Venezuela. It did not cave in despite massive bombing, decapitation of its leadership and loss of air force and navy power. Though weakened, it has retaliated against Israel and the US bases in West Asia. It had been preparing for such an attack from them. In the recent past, it lost top generals because Mossad and the CIA had moles in the country’s top leadership. Besides, electronic surveillance is available for precise targeting.

Learning from this, the Iranian leadership installed a decentralised command system so that the next level of leadership could quickly take charge if one flank was assassinated. President Trump has threatened to eliminate this line of leadership as well. The war can drag on.

A man and woman carry a liquified natural gas cylinder for household after refilling it in Ahmedabad, India, Wednesday, March 11, 2026. Photo: Ajit Solanki/AP.

The US claims that it has degraded Iran’s capability to fire missiles and drones at its bases or inside Israel. But Israeli and American defences against incoming Iranian missiles and drones also seem to have degraded. Some of the missiles are getting through, damaging critical........

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