Saturday, September 19, 2020
Home Business Iran nuclear agreement: Why its a good news for Indian economy

Iran nuclear agreement: Why its a good news for Indian economy

radioactivity-66774_640

By Sakchi Srivastva

A big step has been taken by the West and Iran after they signed a tentative agreement which deals with curbing Iran’s nuclear program for at least a decade. This outcome was possible after the conclusion of marathon talks which took place in Switzerland for 8 days.

“And after many months of tough and principled diplomacy, the United States – joined by the United Kingdom, France, Germany, Russia, China, and the European Union – achieved the framework for a deal,” Barack Obama said.

This breakthrough agreement has put a full stop at all the allegations and doubts on Iran’s status of seeking to build a nuclear bomb. It is the first utilitarian deal signed in 12 years between the west and Iran. Iran has agreed to not enrich its uranium over 3.67 per cent for at least 15 years.

India, which is Iran’s second-biggest buyer on an annual basis after China, has been gradually reducing its oil imports from Tehran under US pressure. For the first time in a decade, India did not import any oil from Iran in March. But now after the deal India will embrace large quantity of oil from Iran.

Here’s how the deal pans out for India.

  1. Iran’s export was restricted to 1 million barrel per day. It was a very difficult situation for our country. But now this deal has come as a boon.
  2. Friendly relations with Iran could prove to be India’s launch pad in the wealthy West Asian market for our manufactured goods.
  3. Import of oil from Iran will also keep price shocks at bay.

“India has always maintained that the Iranian nuclear issue should be resolved peacefully by respecting Iran’s right to peaceful uses of nuclear energy as also the international community’s strong interest in the exclusively peaceful nature of Iran’s nuclear programme. The announcement yesterday underlines the success of diplomacy and dialogue, which India has always supported and which we hope would lead to a comprehensive agreement by June 30, ”
the external affairs ministry said in a statement.

STAY CONNECTED

19,152FansLike
362FollowersFollow
1,775FollowersFollow

Most Popular

Tripura CM Biplab Deb Launch Bamboo Cookies And Honey To Boost Immunity

Tripura Chief Minister Biplab Kumar Deb on Friday launched bamboo cookies and bamboo made honey bottles that will help in boosting people's immunity and...

99% Of Bollywood On Drugs Is An Incorrect Generalisation: Actress Shweta Tripathi

Actress Shweta Tripathi says the claim by Kangana Ranaut that 99 per cent of Bollywood is on drugs is an incorrect generalisation, adding that...

Neglected Children More Likely To Have Teen Pregnancy: Study

Researchers have found that children who experience neglect are seven times more likely than other abuse victims to have a teen pregnancy. The study, published...

Sakharam Binder: Play That Explores Idea Of Censorship

Back in the early 1970s, Marathi playwright Vijay Tendulkar's play 'Sakharam Binder' -- which features the character of a bookbinder who 'takes in' women...

Patients With Covid-19 Likely To Diagnose With A Heart Stroke

Researchers have found that Covid-19 may be diagnosed on the same emergency scans intended to diagnose stroke. The findings published in the American Journal of...

Asian-Americans Experience Increased Racism Since Covid-19: Report

A report released by a US civil rights group showed Asian-Americans have experienced increased racism since the Covid-19 pandemic hit the country more than...

Hair Tips By Actress Kajol

Actress Kajol has often sported bouncy curls, and it is not too difficult to have hair like hers, she assures. Sharing a candid photo taken...

Twitter Halts Transparency Web Series Promotion. Is Twitter Biased?

By NewsGram Desk Twitter, a well-known platform to share ideas, thoughts, spread awareness, advertise our new ideas and projects, is suddenly taking down advertisements and...

Recent Comments

Donate to NewsGram to support quality journalism.
x