Iran-Israel War: List of items which likely to get expensive in India, electronic equipment, Fertilizers, Salts may cost…

India doesn't import much oil directly from Iran, the country plays a significant role among global oil producers. Soon after the war began between Iran and Israel, the crude oil prices surged uncontrollably.

New Delhi: The tension between Israel and Iran is escalating with every passing day. As per the latest update, both the countries are launching barrages of missiles at each other, resulting in severe damage on both sides. The conflict between the two nations is likely to escalate in the coming days. Defense experts warn that this war could engulf the entire Middle East region. If the conflict drags on, it will also impact India, as the country has strong trade relations with both nations. It is important to note that India exports a wide range of goods to these countries and also imports various products from them. In this article, we will list the items that are likely to witness a price hike if the war escalates.

Notably, India imports over 80 percent oil from countries around the globe. However, India doesn’t import much oil directly from Iran, the country plays a significant role among global oil producers. Soon after the war began between Iran and Israel, the crude oil prices surged uncontrollably.

Prices have jumped by more than 11 percent, with Brent Crude reaching USD 75.32 per barrel and West Texas Intermediate (WTI) crude hitting USD 73.42 per barrel. If the war continues, crude oil prices could rise even further.

Israel has always been a key trading partner of India. India is Israel’s second-largest trading partner in Asia and the ninth-largest globally. After Narendra Modi came into power, there has been a significant growth in trade, especially in sectors such as electronic machinery and high-tech products, medical equipment, and communication systems.

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Key imports from Israel to India include:

Electrical and electronic equipment
Arms and ammunition
Optical, photographic, technical, and medical instruments
Fertilizers
Machinery, nuclear reactors, and boilers
Aluminum and various chemical products
Pearls, precious stones, metals, and coins
Organic chemicals
Tools made of base metals, etc.

Between March 2024 and March 2025, India’s exports to Iran increased by USD 41.5 million (47.1%), rising from $88.1 million to USD 130 million, while imports fell by USD 13.3 million (23.6%), dropping from USD 56.2 million to USD 43 million.