The apocalypse that wasn’t, and how Indian economy weathered it

When US President Donald Trump launched a war on Iran at the end of February, experts in various fields warned of a possible apocalypse.

Energy experts predicted humongous shortages of oil and refined products (petrol, aviation fuel, diesel) since the Gulf accounted for 20% of world exports.

Food experts predicted a crisis for farmers and hungry children because urea prices doubled from $450/tonne to $900/tonne, threatening food shortages and higher prices globally.

Industrial experts highlighted the big share of the Gulf countries in world exports of aluminium, petrochemicals, helium, and plastics, all held up by the Gulf traffic freeze.