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This edition of India Today Global examines the global economic shockwaves caused by a naval blockade in the Strait of Hormuz, highlighting its direct impact on energy inflation and currency stability in India.
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00:00:12Can a narrow stretch of water shake the global economy and quietly raise the price of fuel in
00:00:18cities thousands of kilometers away? And while that pressure builds at sea, can a political
00:00:23storm-at-home fracture, the very base that built a leader's power? Tonight, two stories that seem
00:00:30separate but are deeply connected. One unfolds in the Strait of Hormuz, where a U.S.-led blockade
00:00:37targeting Iranian-linked traffic is sending shockwaves through global energy markets,
00:00:42threatening supply chains and putting countries like India under direct economic stress.
00:00:48The other plays out in Washington, D.C., where Donald Trump, once seen as a defender of
00:00:54Christianity, is facing backlash from his own supporters after a controversial AI image
00:01:00triggered accusations of blasphemy. One story is about oil, trade and economic
00:01:08vulnerability. The other is about faith, power and political limits. One tests how much pressure
00:01:13nations can absorb. The other reveals how quickly loyalty can crack. Hello and welcome.
00:01:20You're watching Statecraft with me, Geeta Mohan.
00:01:30The Strait of Hormuz is once again at the center of global crisis. And this time, it is not just
00:01:36a
00:01:37regional flashpoint. It is a potential shockwave for the entire world economy. A U.S.-led naval blockade
00:01:44targeting Iranian ports and traffic linked to the Strait of Hormuz marks a sharp escalation in the
00:01:50conflict with Tehran. This has revived fears of disruption in one of the most important energy
00:01:55choke points on Earth. For India, this is not a distant conflict. It is a direct economic risk. Because what
00:02:03happens in Hormuz does not stay in Hormuz. Let's start with the basics. The Strait of Hormuz is a narrow
00:02:11waterway between Iran and Oman, but its importance is enormous. Roughly one-fifth of global oil flows
00:02:17through it. Tankers carrying crude from Saudi Arabia, Iraq, the UAE and Kuwait pass through this
00:02:23corridor every single day. India is one of the biggest recipients of that supply. Around a large share of its
00:02:31crude imports, especially from the Gulf, is either shipped directly through Hormuz or depends on supply
00:02:38chains that do. That is why even the risk of disruption matters as much as actual disruption.
00:02:45Markets do not wait for closure. They react to uncertainty. And when Hormuz is in tension,
00:02:52oil prices move first and policy follows later. At least 15 Indian flagged vessels are currently
00:02:58stranded west of the Strait of Hormuz chalk point after the U.S. announced a blockade of Iranian ports.
00:03:05For India, the first and most immediate impact is energy inflation. India imports more than four-fifths
00:03:12of its crude oil requirements. That means any spike in global oil prices feeds directly into domestic
00:03:18fuel costs. Petrol, diesel, aviation fuel, all of it becomes more expensive to manage. Even if domestic pricing
00:03:27is partially buffered by policy, the macroeconomic pressure does not disappear. It shows up in
00:03:33subsidies, fiscal stress and eventually consumer prices. And this is where the Hormuz equation becomes
00:03:42politically sensitive for New Delhi. Because India is not a marginal energy importer, it is structurally
00:03:48dependent on imported oil, which means it is structurally exposed to geopolitical shocks it does not
00:03:55control. The second impact is on the rupee. Oil is priced in dollars. When global oil prices rise,
00:04:03India needs more dollars to pay for the same volume of imports. That increases pressure on the current
00:04:09account. It can weaken the rupee and a weaker currency then feeds back into even higher import costs.
00:04:16It becomes a loop. Energy prices, currency pressure and inflation reinforcing each other.
00:04:23There is also a shipping dimension. The Strait of Hormuz is not just about oil, it is about trade routes.
00:04:31Any
00:04:31perception of risk in the Gulf forces shipping companies to increase insurance premiums. Some
00:04:37reroute, others delay. And all of it increases cost. For India, which relies heavily on maritime trade
00:04:45through the Arabian Sea, even partial disruption raises logistics expenses across sectors.
00:04:51Then there is the strategic layer. India maintains strong ties with Gulf countries for energy security
00:04:58remittances as also trade. At the same time, it has deep economic engagement with the United States of America.
00:05:05If U.S. pressure on Iran escalates in the form of tighter maritime enforcement or blockade-style measures,
00:05:12India finds itself in a delicate position, balancing energy needs with geopolitical alignment.
00:05:19Because India does not control the Strait, but it cannot ignore it either. It sits at the receiving end of
00:05:28the US. It is a direct line. It is a direct line. It is a direct line. It is a
00:05:31direct line. It is a direct line.
00:05:31Historically, India has tried to diversify its energy sources to reduce this vulnerability. Investments in
00:05:38strategic petroleum reserves, increased imports from Russia in recent years and efforts to expand renewable energy
00:05:45all reflect that direction. But diversification does not eliminate dependency in the short term.
00:05:52In a sudden Hormuz shock scenario, alternatives cannot fully replace Gulf supply.
00:05:58And this is the core risk. Not long-term dependence, but short-term inflexibility. Energy systems do not
00:06:06adjust overnight. They react under pressure. And Hormuz tensions are precisely the kind of pressure that
00:06:13exposes structural constraints. Financial markets also respond quickly. India's stock markets are sensitive to
00:06:21global global oil movements. Energy heavy indices, aviation stocks, logistics companies all feel the
00:06:27impact first. Foreign portfolio flows can also tighten if global risk sentiment shifts. Because Hormuz
00:06:33tension is not viewed as a local conflict. It is viewed as systemic risk.
00:06:40It is clear, despite the resilience of the Indian economy, a prolonged disruption, which could mean lack of availability of
00:06:50crude oil and gas, and not just the price volatility that we have seen the price increases, will definitely have
00:06:56an impact on
00:06:59any economy. As far as India is concerned, I would say that right now, given the evolving situation, it's very,
00:07:07very difficult to sort of take a call at this stage. Perhaps this is
00:07:10a question that can be better answered 15 days down the line, depending on how the situation pans out. But
00:07:17I just want to tell you that the International Monetary Fund in its latest assessment has, in fact,
00:07:24marginally increased, marginally increased India's growth prospects for the current year, even as it is not so confident with regard
00:07:31to the rate of global growth. So, given the size of our domestic engine, given the fact that we are
00:07:38a very large consumption-based economy, and most importantly, look at it over the past six, seven weeks, what has
00:07:45the government done? It has protected sectors of the economy. Gas availability has been ensured. There are no cutbacks.
00:07:52There have been no lockdowns. There have been no rationing in that sense, although there has been curtailment and tweaking
00:07:59of certain aspects with regard to gas. And that shows that our economy can perhaps withstand this. But we will
00:08:06have to see how badly availability gets impacted.
00:08:12And remember, in all of this, if the Strait of Hormuz gets blocked completely, other sources, including particularly Russian crude
00:08:20oil, will keep coming in and will hopefully help us overcome this situation.
00:08:25There is also a political dimension inside the United States. Any escalation involving Iran and maritime enforcement becomes tied to
00:08:33broader debates about American foreign policy.
00:08:37Under President Trump, a more aggressive posture toward Iran-linked shipping is interpreted by markets as higher volatility risk, not
00:08:45just for the Middle East or West Asia, but for global supply chains that depend on it.
00:08:52For India, this means policy uncertainty is imported along with oil. It is not only reacting to prices, it is
00:08:59reacting to decisions taken in Washington and Tehran at the same time.
00:09:04That dual dependency increases the complexity of planning, both for government and for industry.
00:09:10But perhaps the most important point is this. The Strait of Hormuz is not just a geopolitical location. It is
00:09:17a pressure wall for the global economy. When it tightens, everything downstream feels it. Energy, inflation, currency, trade and growth.
00:09:26For India, the exposure is structural, not temporary, not accidental. Structural. Because as long as Gulf oil remains central to
00:09:36India's energy mix, Hormuz will remain a key vulnerability point in its economic security architecture.
00:09:42So the question is not whether India is affected. The question is how much pressure it can absorb before global
00:09:49disruption becomes domestic reality.
00:09:52And in a world where a narrow waterway can influence the price of fuel in Delhi, Mumbai and beyond, the
00:09:59Strait of Hormuz is no longer just a regional headline.
00:10:02It is a reminder that in today's global system, geography is not local. It is interconnected. And a blockade or
00:10:11even the threat of one does not stay at sea. It travels through oil markets, through currencies and ultimately into
00:10:19the everyday cost of living for millions.
00:10:22India makes a strategic breakthrough in Sri Lanka, securing a controlling stake in Colombo dockyard through Mazagao dock shipbuilders.
00:10:30This move signals a major shift in India's maritime ambitions and regional influence.
00:10:35For more on the geopolitical implications and what this means for the Indian Ocean, let's go to this report.
00:10:46India has just made a major strategic move in Sri Lanka, not with warships, but with a shipyard.
00:10:53Because for the first time ever, India has acquired a controlling stake in a foreign shipbuilding facility.
00:10:59The company at the centre of this is Mazagao Dock Shipbuilders Limited, the Mumbai-based shipyard known for building India's
00:11:06submarines and frontline warships.
00:11:07It has now taken a 51% stake in Colombo Dockyard PLC, Sri Lanka's largest and most established shipbuilding and
00:11:17repair facility.
00:11:18Along with that, the Dredging Corporation of India has signed an MOU with the same dockyard for dry docking, repairs
00:11:25and fleet upgrades, which will further deepen operational integration.
00:11:29This is not just a business deal, it's a geopolitical signal.
00:11:32Colombo Dockyard sits right inside the port of Colombo, one of the busiest maritime routes in the world, connecting Asia,
00:11:39Africa and Europe.
00:11:41Control over this facility gives India something it has long needed, a strategic foothold in the Indian Ocean's commercial shipping
00:11:47network.
00:11:48But why now? Because the previous majority stakeholder, Japan's Onomichi Dockyard Co Ltd, exited the project, leaving the Sri Lankan
00:11:56yard financially vulnerable and looking for a new partner.
00:11:59Nearly 40 global players showed interest, India won.
00:12:02And it did so with a phased investment of around 452 crore rupees.
00:12:08First taking a 41.7% stake and then increasing it to 51% through an open offer.
00:12:14Now here's where it gets interesting.
00:12:16This move fits directly into India's long-term maritime ambition to become a global shipbuilding and logistics power under its
00:12:24maritime vision 2047.
00:12:26But there's also a bigger strategic picture.
00:12:29China has had a strong presence in Sri Lanka for years, most notably through its 99-year lease of Humbantota
00:12:36port.
00:12:36That project became a symbol of Beijing's growing influence in the region.
00:12:41India's response? Not confrontation, but competition.
00:12:45Step by step, India is building its own presence.
00:12:48From fuel infrastructure through Indian oil, to port operations via Adani ports,
00:12:53and now shipbuilding and repair capabilities through Musgaon Dock, it's a layered strategy.
00:12:58Because control over ports is one thing, but control over ship repair, logistics and maritime services, that's long-term influence.
00:13:07There's also a practical angle.
00:13:09Indian ports are often more expensive and less capable of handling large vessels compared to Colombo.
00:13:15So by investing in Sri Lanka, India is also reducing its dependence on foreign facilities for its own trade.
00:13:21It's about efficiency, it's about supply chains, and yes, it's about strategy.
00:13:27Because in today's world, maritime power isn't just about navies.
00:13:31It's about who controls the infrastructure that keeps global trade moving.
00:13:36And with this move, India is quietly but decisively expanding its footprint in the Indian Ocean.
00:13:43With Farhan Khan, Bureau Report, India Today Global.
00:13:47Trump has got himself into a lot of controversies, but this time, he might have outdone himself.
00:13:53He's taken the term God complex to another level.
00:13:56He, in a way, went to war with the Catholics.
00:13:59And as history tells us, it has never ended well for anyone.
00:14:04President Trump, who built his entire political empire on being Christianity's great defender,
00:14:09who won 56% of Catholic voters in 2024, posted an AI image of himself as Jesus Christ on Orthodox
00:14:17Easter Sunday.
00:14:19Then deleted it.
00:14:20Then told the press he thought he was a doctor.
00:14:23A doctor, in a white robe, with a halo and glowing healing hands.
00:14:29His own base called it blasphemous.
00:14:32And did you post that picture of yourself depicted as Jesus Christ?
00:14:36Well, it wasn't a picture.
00:14:37It was me.
00:14:39I did post it.
00:14:40And I thought it was me as a doctor.
00:14:42And it had to do with Red Cross as a Red Cross worker there, which we support.
00:14:47And only the fake news could come up with that one.
00:14:50So I had, I had, I just heard about it.
00:14:53And I said, how did they come up with that?
00:14:56It's supposed to be me as a doctor making people better.
00:14:59And I do make people better.
00:15:01I make people a lot better.
00:15:03As an example, the 11,000, I understand your husband's going through treatment.
00:15:08Yes, sir.
00:15:09Yes, sir.
00:15:10He's going through some very serious cancer treatments.
00:15:13Yes, sir.
00:15:13This goes a long way.
00:15:14Yes, sir.
00:15:15It sure does.
00:15:17So when the followers you built your throne on turn around and say you went too far,
00:15:22did you just saw off the branch you sat on?
00:15:24When your strongest supporters call you blasphemous, what does that tell you?
00:15:28It tells you that you crossed a line even loyalty cannot erase.
00:15:34It tells you the alarm bells are real.
00:15:36These are not critics from the left.
00:15:38These are his own people.
00:15:40Christian conservatives, MAGA loyalists.
00:15:43The same voices that defended him for years.
00:15:46These are not enemies.
00:15:48These are the people who spent years defending him on camera, at rallies, on podcasts,
00:15:53and they used the word blasphemy.
00:15:56Not a bit much.
00:15:57Not poor optics.
00:15:59Blasphemy.
00:16:01When your most loyal defenders draw the line, that line is real.
00:16:05A Maoist poll taken the day after the image dropped found 72% of US Catholics viewed it negatively.
00:16:12His explanation, that he thought he was a doctor, did not help.
00:16:17Conservative commentator Cam Higbee summed up the mood perfectly.
00:16:21And I quote,
00:16:22Blasphemy from the Oval Office is not a funny troll.
00:16:27Trump won Catholics in 2024 by 56 to 42%.
00:16:31That margin was not an accident.
00:16:34It was years of religious liberty commissions, anti-abortion policy, and positioning himself
00:16:39as the only thing standing between Christianity and a godless left.
00:16:45One AI image put all of that goodwill into a blender.
00:16:51Trump already posted himself as Pope after Pope Francis' death.
00:16:55Pete Hegseth, his defense secretary, or the war secretary now, quoted scripture to justify
00:17:02bombing Iran.
00:17:03Trump himself said God approves of the war.
00:17:06At some point, funny troll becomes cult of personality.
00:17:10And religious voters, especially Catholics, know exactly what that looks like.
00:17:15They call it idol worship.
00:17:17Look at Italy.
00:17:18Giorgio Meloni, Trump's closest European ally, the only European leader at his inauguration,
00:17:25called his words toward Pope Leo unacceptable.
00:17:28Matteo Salvini, Italy's far-right Deputy Prime Minister and a long-time Trump cheerleader,
00:17:33said attacking the Pope was neither wise nor useful.
00:17:37When Europe's far-right distances itself from you, you know the optics reached a new level
00:17:44of bad.
00:17:45Italy's polls showed 66% of Italians already held a negative opinion of Trump.
00:17:50Pollsters pointed to Meloni's ties with the White House as a factor in her referendum defeat.
00:17:56Trump did not just embarrass himself, he became a liability others had to apologize for.
00:18:02There is this old proverb, Chimangya Papakrepa, whoever tries to swallow the Pope dies.
00:18:09This proverb has been tested all throughout history.
00:18:12The papacy has survived centuries of war, divisions within Christianity, and it has been
00:18:17here long before America, even as an idea existed.
00:18:21It will definitely survive President Trump.
00:18:24The U.S.-Iran war has done something strange.
00:18:28It has split one faith and briefly stitched another one together.
00:18:33On the Christian side, the divide looks sharper than ever.
00:18:37Donald Trump frames the war in moral and even religious terms,
00:18:40while Pope Leo XIV openly pushes back, warning against violence and rejecting the idea that faith can justify war.
00:18:49That creates a visible crack between political Christianity and spiritual authority.
00:18:55Between power and principle.
00:18:57Iranian President Pazeshkian also came to defend the Pope against Trump's blasphemy.
00:19:02But in the Muslim world, the effect flips.
00:19:05The killing of Iran's supreme leader turns him into a martyr figure.
00:19:09And suddenly, Sunnis and Shias, usually divided, stand together, at least for the moment.
00:19:15Not because all differences vanish, but because a bigger anger takes over.
00:19:20Palestine, sovereignty, and opposition to the West.
00:19:24It's not permanent unity.
00:19:27It's emotional alignment.
00:19:29One war, two outcomes.
00:19:31Christians argue over morality.
00:19:33Muslims rally over identity.
00:19:35Now, as Donald Trump is facing backlash over his AI image of Jesus Christ,
00:19:40a wave of online mockery is only getting louder.
00:19:44The internet is doing what it does best.
00:19:46It escalated.
00:19:48AI-generated parodies flooded platforms like X.
00:19:51One viral clip showed Trump dressed in white, red cloth over his shoulder,
00:19:56walking on water like Jesus.
00:19:59It didn't stop there.
00:20:00The internet doubled down.
00:20:01In another meme, Trump walks into an operation theatre dressed as Jesus and asking,
00:20:06can I help?
00:20:08Another netizen posted an image showing a doctor teaching Trump by comparing images of
00:20:13doctor and God.
00:20:15A portrait of Trump as a king hangs on the wall alongside coloured pencil drawings of
00:20:21tanks and war scenes.
00:20:22Another meme shows Jesus delivering Trump's last meal outside the Oval Office.
00:20:28Well, for now, the post is deleted.
00:20:31But the narrative isn't.
00:20:32Because in politics today, it's not just what you post.
00:20:35It's what the internet does with it after.
00:20:39That's all we have for you in this edition.
00:20:40But before we let you go,
00:20:42Zolt Hygedas, a leading candidate for health minister in the incoming Hungarian government,
00:20:48danced enthusiastically on stage as the opposition Tissa party celebrated a landslide victory
00:20:54that ended Viktor Orban's long rule.
00:20:57Hegedas' dance moves on stage following Tissa's leader, Peter Marchior's speech,
00:21:02had gone viral online.
00:21:04Take a look at his steps as we leave you with these visuals.
00:21:07Goodbye and take care.
00:21:24.
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