NEW DELHI: India wants a ceasefire in West Asia and a “cooling down” tensions in the region so that the country’s economic interests are not impacted in areas such as the transportation of goods through regional waters, external affairs minister S Jaishankar said on Thursday.
The disruption of shipping in the Red Sea as a fallout of the Israel-Hamas conflict and its impact on trade with Europe is a “big concern” for India, he said while speaking at an event organised by the Associated Chambers of Commerce & Industry of India (Assocham).
“When people ask us today what is your interest in West Asia, we have a very direct economic interest,” Jaishankar said. “We want restraint, we want a cooling down, we want a ceasefire, and we want negotiations so that our economic interests are not threatened through shipping.”
India has tried to do its share to ensure the security of merchant shipping since the start of the Israel-Hamas conflict in October last year, including the deployment of several warships in regional waters. “But nevertheless, what has happened is [a] sense of unease or risk,” he said.
“Enough ships got hit for the shipping to start looking at alternative routes. It is higher cost, it is greater time, it has disrupted logistics,” he added.
{{/usCountry}}“Enough ships got hit for the shipping to start looking at alternative routes. It is higher cost, it is greater time, it has disrupted logistics,” he added.
{{/usCountry}}Jaishankar emphasised that a ceasefire and a “move away from what it has been for the last one year” would be of very direct economic consequence to India. “We have actually been in touch with all the major players, including Iran and Israel,” he said.
India has pushed for a complete cessation of hostilities and a return to dialogue and diplomacy to address the Israel-Hamas conflict as it walked a delicate line in balancing its burgeoning ties with Israel alongside long-standing trade and strategic relations with West Asian nations. Saudi Arabia and Iraq continue to be key suppliers of energy and West Asia is home to nearly nine million Indians.