Trump Calls To Make Iran Great Again. India Defers US Trade Talks

While the US attacked Iran on Saturday night, directly joining the ongoing war between Tehran and Tel Aviv, American President Donald Trump, who has been pitching to Make America Great Again (MAGA), called to Make Iran Great Again (MIGA).

“It’s not politically correct to use the term, ‘Regime Change,’ but if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn’t there be a Regime change??? MIGA!!!” he wrote on his Truth Social handle.

Meanwhile, government sources said New Delhi is in no hurry to conclude the trade deal with the US. At most, there could be "a very basic agreement" before the July 9 deadline.

The focus now is on trade pacts with other countries, which include Oman and the European Union. Interestingly, several Indian exporters too have now accounted for the uncertainty in the US and have started making alternative plans.

“We are not overtly worried about the trade pact with the US and whether it will be in place before July 9. What we are now focusing on is diversification of our export market, and that exercise needs to start immediately,” Pankaj Chadha, Chairman, Engineering Export Promotion Council (EEPC) told The Secretariat.

“India must weigh all pros and cons on the trade deal with the US. There is no reason to rush,” said Ashwani Mahajan, national co-convener of Swadeshi Jagaran Manch.

Already, Niti Aayog’s proposal to allow genetically modified (GM) agricultural imports under the BTA has led to concerns and opposition from multiple quarters, including India's various farm unions. “We will not allow this, as it could undermine India’s food security and erode the country’s agricultural sovereignty," Mahajan said.

US Attacks Iran

Then came the US strikes on three Iranian nuclear facilities on Sunday — Natanz, Isfahan, and Fordow. Already, there is fear of crude oil prices going up. While the price of WTI crude on Sunday increased US$ 1.76 to touch US$ 75.60 per barrel, Brent was pushed up by US$ 1.80 to US$ 78.81 a barrel.

The West Asia conflict will not only push up crude prices, but also lead to volatility in global markets. Earlier, speaking to The Secretariat, Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, had said that though India’s oil supplies will not be affected due to the war, peace in the region is key for overall socio-economic development.  

The uncertainty in the situation may dent private investments. “Typically, investors look for political and economic stability for investments. The scenario is just the opposite. This is worrisome,” an official source said, on condition of anonymity.

Modi Calls Pezeshkian

A short while after the US launched its attack on Iran, Prime Minister Narendra Modi spoke to Iran's President Masoud Pezeshkian, expressing concern over the escalation in the war. “We discussed in detail about the current situation. Expressed deep concern at the recent escalations. Reiterated our call for immediate de-escalation, dialogue and diplomacy as the way forward and for early restoration of regional peace, security and stability," Modi wrote on X.

Analysts said the phone call to Pezeshkian reflects India’s mature position on the emerging situation.