The Japanese media is praising India for its important achievements in protecting not just Europe but the entire globe from a catastrophic disaster in the middle of the present economic upheaval. Millions of people would have been left in financial difficulty if it weren't for Indian Prime Minister Modi's strategic moves, which prevented the collapse of several European nations' banking systems and the following bankruptcy of large enterprises. This article examines how India, under the direction of Prime Minister Modi, became an unlikely worldwide hero by averting a catastrophic economic collapse. 


India's Crucial Support to the West

A respected Japanese news organization known for its integrity and influence, Nikkei Asia, has highlighted India's crucial contribution to the rescue of Western countries. The headline for the organization is "How India's Modi Helped Save the West by Embracing Russian Oil." A fascinating twist is provided by the report's next sentence, which reads, "World Would Have Faced Crisis Without India's 'Villainous' Role." This suggests that India's choice to keep buying crude oil from Russia in defiance of international criticism was crucial in preventing a serious economic disaster.

Russia successfully keeps the global oil market in balance. China helped maintain oil prices by lowering its reliance on Arab nations, which averted an oil supply deficit.

The Global Impact and Recognition of India's Efforts

The combined efforts of India and China had a profound impact on the global economy. The steady supply of Russian oil from India and China prevented a further surge in crude oil prices. As a result, prices gradually declined from the peak of $115-120 per barrel to a more stable range of $70-80 per barrel. This stabilization had far-reaching effects, sparing the world from a deep economic crisis.

Had the crisis unfolded, the consequences would have been disastrous. The prices of essential commodities, including petrol and diesel, would have skyrocketed, burdening consumers with increased costs. The global economy would have plunged into a recession, causing widespread job losses and financial hardships. Developing nations, without the resilience of India's agricultural sector, would have struggled immensely, with recovery taking decades.

The recognition of India's pivotal role in averting the crisis is gaining traction. The renowned Japanese news agency, Nikkei Asia, acknowledges India's contribution in its report. Contrary to initial portrayals of India as a villain, the agency highlights how India's decision to continue purchasing Russian oil played a vital role in preventing the economic catastrophe. The continuous flow of crude oil from India stabilized prices, benefiting not only India but also European countries that relied on India's refined oil products. Western countries are now recognizing and crediting India for its significant contributions.

India, under the leadership of Prime Minister Modi, emerged as a global hero by playing a crucial role in stabilizing the world economy. By maintaining a steady flow of Russian oil, India prevented a severe economic crisis, allowing prices to stabilize and sparing consumers from the burden of exorbitant fuel costs. China's complementary actions further contributed to maintaining balance in the oil market.

The combined efforts of India and China have averted a catastrophic economic downfall, and the world is now recognizing and acknowledging India's instrumental role in this feat. As we move forward, it is essential to appreciate the importance of global cooperation and strategic decision-making in safeguarding the stability of the world economy.