In the ever-changing landscape of global trade, a fresh obstacle arises: the Red Sea crisis. Political instability in the Middle East, coupled with Houthi assaults in the Red Sea, compels shipping firms to reroute their vessels away from the area. This security-driven measure reverberates throughout industries, affecting Indian exporters in various aspects, such as payment delays and heightened financial strain. India Ratings and Research (Ind-Ra) warns that ongoing disruptions along the Red Sea route could escalate freight and forwarding expenses for international traders by 25-30%.
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