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

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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.

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350 Chinese Cities Get Better Air Quality

In the first three quarters of this year, 7 out of 20 cities with the worst air quality were in northern Shanxi province

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Officials told CNN that the Chinese military did not intercept the US aircraft during their mission.
South China Sea, Pixabay

More than half of China’s cities saw air quality improve year-on-year in September, the Chinese Environment Ministry has said.

The average density of PM 2.5 stood at 25 micrograms per cubic meter in September in 338 cities, down 16.7 per cent from the same period last year, according to the Ministry of Ecology and Environment.

These cities enjoyed good air quality on 90.8 per cent of the days last month, up 2.6 per cent, Xinhua news agency said.

Air Quality
Air pollution can also damage your kidneys. wikimedia commons

The world’s most populous nation has over 600 cities and is grappling with chronic pollution which kills about one million people annually.

China is the world’s biggest coal producer and alone burns half of it, leading to severe pollution. The country is also the largest greenhouse gas emitter in the world.

However, the government has cracked down heavily on the polluting industries, shutting many of them. In July, the government released a three-year action plan to tackle the problem.

It also punishes top officials for not doing enough to rein in pollution.

Beijing is no longer the world’s most polluted city.

Air quality

Air quality
Buildings are seen on a hazy day in Xiangyang, Hubei province, China. VOA.

In the Beijing-Tianjin-Hebei region, the share of days with good air quality in September stood at 79.2 per cent, a year-on-year increase of 27.8 percentage points, while the PM 2.5 density of the region dropped by 33.3 per cent on year to 36 micrograms per cubic meter, the Ministry was quoted by Xinhua as saying.

In the first three quarters of this year, 7 out of 20 cities with the worst air quality were in northern Shanxi province, China’s coal-producing hub.

Also Read: Sundar Pichai Clears Google’s China Centric Plans

According to the action plan released in July, by 2020, emissions of sulfur dioxide and nitrogen oxide should have dropped by more than 15 per cent over the 2015 levels, while cities that fail to meet the requirement of PM 2.5 density should see a decline of more than 18 per cent from 2015 levels. (IANS)

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