If Bandar Abbas Port is closed then India's trade will face huge crisis as oil import, freight charges, exports will be hit, only solution...
New Delhi: Bandar Abbas Port Explainer: If the war between Israel and Iran continues like this, then in the coming times, India will also not remain untouched by it. Especially oil imports and exports to other Central Asian countries including Iran can be affected. Importance of Bandar Abbas Port
The Bandar Abbas Port, located near the strategically important Strait of Hormuz, is very important for India. Along with oil imports, India also exports a lot of things from here to Iran, Central Asia and Russia. Experts believe that if the ongoing war between Israel and Iran continues for a long time, then it is natural for it to affect the Bandar Abbas Port. In such a situation, it can have a huge impact on India's trade. How will India be affected
Amidst the Iran-Israel conflict, Indian exporters have expressed concern about the possible impact on trade in major markets like Afghanistan, Central Asia and Russia. Due to this, they have urged the Indian government to look for an alternative to the Chabahar port in Iran instead of the Bandar Abbas port. A high-level meeting has been held in this regard. Senior officials of various ministries, shipping companies, cargo agents and airport authorities were present in it. In the meeting, trade organizations said that if the Bandar Abbas port is closed, then exports will be affected for West Asia and Central Asia.
Air freight rates have increased by up to 15 percent and sea freight is also increasing rapidly. Alternative route
If the situation worsens further and the movement of ships in the Persian Gulf is affected, then the ports of Fujairah (UAE) and Oman could be seen as an alternative. Currently, Bandar Abbas port is operational, but if the situation worsens, this route may be disrupted. The exporter community suggested that the link connecting Chabahar port to Uzbekistan should also be strengthened, so that if Bandar Abbas is affected, then an alternative arrangement is available. Disruption in energy supplies
Although the Red Sea route is still open and currently 90% of Indian cargo is being sent via the Cape of Good Hope, there are fears of a deepening crisis in the Strait of Hormuz in the Persian Gulf. This 21-mile (about 34 km) wide waterway handles about a fifth of the global oil trade and is extremely important for the energy security of India, which depends on imports for more than 80% of its energy needs. Basmati rice export
According to sources, the export of Basmati rice to Iran has almost stopped due to the conflict and the cost of shipping goods to the Middle East has also increased significantly. Many foreign buyers have put their orders on hold and Indian exporters have also postponed the shipment of goods for the time being, so that they do not have to pay demurrage charges due to goods stuck at the ports.
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