How does Iran impact Indian trade?
The situation unfolding in
Iran is expected to have a significant impact on India's trade. Specifically,
according to a senior government official, Iran's attack on U.S. bases in Syria
has made the situation "more serious". In response, the Indian
government is increasing its vigilance on the potential impact this situation
could have on trade.
The official also noted a key
implication for trade routes:
•While there are alternative
routes to the Strait of Hormuz, utilizing them "will also raise costs as
it will increase the time for shipment of goods". This indicates a
potential for higher expenses and longer transit times for Indian trade due to
the instability in the region.
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