Chapter 611: Civil Strife
By this time, India was at the end of its rope.
You must know that it has only been 13 days since the start of the war, and the tide of the war has taken a magical turn, and India, which had the advantage, has become extremely passive.
Do you still need to fight?
In fact, until this time, India still has a chance to stop.
Despite the loss of Srinagar, Jammu remained under the control of the Indian army, with 180,000 Indian troops entrenched near Lahore.
As long as India is willing to negotiate a ceasefire, Pakistan has no reason to refuse.
Why?
Pakistan has achieved its primary strategic objective, and at an equally high cost, does not want the war to continue.
In addition, if the tide of war gets out of control, Pakistan is bound to suffer even greater losses.
When the time comes, we may not even be able to keep the fruits of victory that have already been reached.
At this time, India has nothing to lose in the ceasefire negotiations, but in fact, all it loses is Srinagar, and the mountainous region of central Kashmir, at least to keep Jammu.
What does India gain if it continues to fight?
Unfortunately, the Indian authorities still have no intention of negotiating with Pakistan.
On the same day, India's prime minister publicly stated that he would never negotiate with Pakistan until the lost territory was regained, and called on the people to rise up to defend the country.
On the same day, riots broke out in many parts of India.
Riots against ***.
Although India is a predominantly Hindu country, there are more than 100 million *** in India, and most of them are at the bottom of society.
In fact, by this time, India was already at the end of its rope.
Why?
India's economy is in trouble.
Before the outbreak of the war, India was not a rich country, and it had nothing to do with it, and it could even be said to be a very poor country.
Quite simply, India doesn't have enough foreign exchange.
Although India's foreign exchange reserves rank third in the world, reaching more than $700 billion after China and Japan, India's external debt exceeds $2,000 billion.
What is this concept?
Given India's trade surplus of less than $100 billion a year, it would take more than a decade to repay its entire external debt, even if it does not increase its foreign investment.
In addition, the scale of India's external debt is supported by the outside world's expectation of good economic development.
To put it simply, investors believe that India's economy can maintain rapid and stable growth, so they are willing to invest in India.
This, of course, includes the purchase of government bonds issued by the Indian authorities.
The problem now is that with the outbreak of war, especially the botched performance of the Indian army on the battlefield, investors have lost confidence in India.
The first thing to end up with is India's national debt.
On the day of the war, India's credit rating was downgraded to junk rating, and almost all international investment institutions did not recommend buying Indian government bonds.
While the Indian authorities are pinning their hopes on high returns, investors are still reluctant to buy it.
As a direct consequence, the Indian authorities have not been able to secure financing to repay their debts as they fall due, and thus they have not been able to repay their debts on time.
In just over 10 days, India's currency, the rupee, has lost more than half of its value.
You know, this is still the legal exchange rate.
On the black market, the rupee has depreciated by more than 90 per cent, and almost all institutions are selling the rupee, even the Indians.
In reality, it is very difficult for India to obtain resources through normal trade methods.
This is reflected in energy.
Let's not forget that the Arab League oil producers have already begun to impose an oil embargo on India, and the scope is expanding, for example, by restricting third parties from purchasing oil on behalf of India.
Although there is a certain strategic reserve, it will not be long before it is depleted.
Until then, the Indian authorities will also be able to pay the relevant amount in rupees and then exchange it through normal means, thus reducing the cost of procurement.
Obviously, during the war, this was impossible.
While the U.S. authorities have always claimed support for India and have provided some help to India, U.S. shale oil extractors do not see it that way.
Soon after the start of the war, several shale oil extraction companies in the United States proposed to India that they would only accept cash transactions and that they should use US dollars, that is, when India bought shale oil, it would have to pay before the tankers left the port, and it had to be US dollars, which India was already short of.
This is true in the United States, and even more so in Russia.
Although the Russian president has repeatedly expressed sympathy for India's plight, he still insists that India pay cash for the oil trade.
Of course, Russia is not so harsh, and only wants the euro and the Chinese dollar.
Is there so much forex in India?
The answer is clearly no.
This is true even more so for the oil trade, and even more so for the arms trade.
It can be said that at that time, apart from the limited military material assistance provided by the United States and Japan, India had little way to obtain arms from abroad.
In other words, there is no money.
Relatively speaking, the problem of energy is more prominent.
On the 10th day of the war, the Indian authorities issued the first ban on energy consumption, considering that the war would continue for a long time.
The ban on sales in the province has become the fuse that detonated the contradictions in India.
Why?
In many remote areas, gasoline, diesel and kerosene are the main sources of energy.
You must know that India's national grid is not developed, and many remote areas rely on oil lamps for lighting, and some places even need to use diesel engines to generate electricity.
In addition, the inhabitants of various major cities in India also need a variety of fuels to maintain a normal life.
Of course, the restricted civilians are certainly not rich and officials.
In fact, many wealthy Indians have their own oil depots, and some are even able to smuggle oil on their own.
Given the upcoming summer harvest and the impending dry season, there is already more energy demand than usual across India.
Now, restricting oil consumption will inevitably have an impact on production.
This means that many Indians will lose a year's worth of work.
It can be seen that India's domestic situation is not optimistic at all.
It is a pity that the Indian authorities have not recognized this, or rather refused to admit it, and are still trying to divert the internal contradictions.
How to transfer?
Outward transfer, of course.
According to the propaganda of the Indian authorities, the current difficult situation is the worst crime, because many Arab League oil-producing countries no longer sell oil to India.
Of course, it is also the sin of Pakistan.
There is also Huaxia.
All in all, all the suffering that India has suffered has been inflicted in these countries, and the Indian authorities have been working for the welfare of the people.
Of course, India has been fighting for a long time.
If the Indian authorities refuse to negotiate and continue to fight, then the war will have to continue.