India has new suppliers lined up. But the real question is how much more it will have to pay if Gulf supplies are disrupted
Over a month into the West Asia war, the Government of India has said there are adequate supplies of oil & gas. But, what if Iran war carries on? Iran has said the Strait of Hormuz is open to ‘friendly’ countries, including India. But there’s too much uncertainty.
The answer may lie in rapidly diversifying import sources. This is already a work in progress. But buying from other suppliers will mean higher freight costs.
The answer may lie in rapidly diversifying import sources. This is already a work in progress. But buying from other suppliers will mean higher freight costs.