India, July 24 -- Global trade has long been built on a simple assumption: goods will move freely across the world's oceans. Businesses may account for changing demand, fluctuating currencies or commodity prices, but the routes connecting producers to consumers have largely been taken for granted. That assumption is now being challenged. A series of geopolitical crises, from the Red Sea attacks to renewed tensions around the Strait of Hormuz, has demonstrated that the security of trade routes is no longer merely a concern for diplomats or naval strategists. It has become an economic issue that affects businesses, governments and consumers alike.

The Strait of Hormuz is one of the world's most important maritime chokepoints, carrying a si...