‘Peace is not only a moral imperative, it is an economic necessity’

Syed Hakim Raza emphasizes the need for peace and diplomacy to restore India-Iran trade and regional stability after Khamenei’s assassination.

Trade must not be sacrificed at the altar of political brinkmanship, said the representative of the Indo-Iran Chamber of Commerce and Industry here on Monday.

Syed Hakim Raza, president of Indo-Iran Chamber of Commerce and Industries, urged for restraint, dialogue, and a return to diplomacy. “Peace is not only a moral imperative, it is an economic necessity. Let reconstruction, cooperation, and shared prosperity define the path forward,” he told The Hindu.

Mr. Raza said, “India and Iran are ancient civilisations with complementary economies and a history of pragmatic engagement.” “We extend our deepest sympathies to those who have lost loved ones or livelihoods in this conflict and reiterate our commitment to restoring business confidence on both sides,” he said.

According to Mr. Raza, the human and economic fallout of the conflict was staggering. More than 8 to 9 million Indians reside in Gulf Cooperation Council countries, with additional large Indian communities in Iran, Iraq, Turkey, and Azerbaijan.

“Disruptions to airspace, shipping lanes, and employment markets directly impact millions of Indian families dependent on remittances,” he observed.

Reconstruction needs in a post-conflict Iran alone could generate tens or even hundreds of billions of dollars in economic activity over time. If even 5%-10% of that economic opportunity were to involve Indian participation in infrastructure, pharmaceuticals, agriculture, energy, and engineering services, it would represent a transformative boost for Indian industry and employment, he said.