Indian Trade Faces Potential Disruption Amid Escalating West Asia Conflict
News: Amid rising tensions in West Asia, India is closely monitoring the situation for potential trade disruptions.
The government is particularly concerned about increasing insurance premiums and freight costs.
This follows Iran’s Parliament approving a proposal to close the Strait of Hormuz—a key global oil transit route vital for India’s crude oil and LNG imports.
The closure of this strategic waterway could significantly impact India’s energy supplies and overall trade, prompting New Delhi to assess risks and prepare contingency plans.
Source: The Economic Times
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