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India has over 100 million poor people, and a lot more in lower middle class who will plunge into poverty because of the higher oil prices, and the resultant in
by belltaco 5y ago
India has over 100 million poor people, and a lot more in lower middle class who will plunge into poverty because of the higher oil prices, and the resultant increase in the cost of food and goods due to higher cost of transportation. The import bill will be $60 billion higher, leaving less money to spend on social welfare and the military to deter China's aggression.
The choice is not simple like in the west, if they don't get cheaper gas millions may die.
- jimbob45 5y agoI understand what you're saying and I certainly wouldn't want to be a decision-maker in India in 2022. That said, Russia now seems to have a capricious and unstable leader. Gas prices are bad but the choice is either to stomach the high prices now or wait until Russia rips the band-aid off later for you at their own leisure.
- srvmshr 5y agoJust to chime in, the lackadaisical efforts by India in supporting Ukraine is also due to the NIMBY effect. Compared to a war in a distant land, poverty & hunger are more pressing issues for them. They don't have an incentive to bend over the back for extra $60Bn in energy import, especially when Ukraine hasn't stood as a all-weather friend for them