In recent times, the world has been gripped by a crisis unfolding in the Red Sea, where relentless missile attacks continue unabated. The crisis has far-reaching consequences and its impact is acutely felt by nations relying on the Red Sea trade route. India’s exports through the Red Sea valued at Rs18 trillion ($217 billion) and imports from these regions, worth Rs17 trillion ($205 billion), have been significantly impacted. Exporters are facing difficulties finding ships willing to take the Red Sea route, leading to substantial losses. The Red Sea crisis, beyond being a security challenge, is testing the resilience of the Indian economy.

Source: The North Africa Journal February 01, 2024 06:37 UTC