Jammu, July 29 -- Crude oil is now being imported from over 40 countries
By Nantoo Banerjee
With Yemeni Houthis declaring a maritime embargo and naval blockade against Saudi Arabia, India's bid to mitigate energy and supply chain shocks, following structural disruptions in the Strait of Hormuz, by rapidly diversifying trade corridors and maritime protocols faces a big challenge. At a stake is the country's US$158-billion-plus bilateral trade passing through the region. The naval blockade severely threatens India's foreign trade by constricting energy supplies, inflating logistics costs, and choking key export routes. The crisis specifically inflames the Bab el-Mandeb Strait, a vital choke point through which Saudi crude oil reaches south ...