The current Iran war has laid bare a fundamental reality: 20 per cent of global energy trade cannot afford to rely on a single artery, no matter how resilient and cost-effective.
The disruption in the Hormuz Strait has sharply reduced India’s intake of Gulf crude. This March, Gulf supplies—usually half of India’s crude imports—dropped from 2.6–2.7 mbpd to 1.2–1.3 mbpd.
Recent data does not support any dramatic shift away from the dollar. As per IMF, the share of international transactions conducted in dollars has declined from 56.90% to 56.77%.
Increase in employment subsidy, Rs 500 crore for estate revamp, new townships in pipeline—but land cost, power breakdowns and inspector raj top among key worries for industry leaders.
CDS Anil Chauhan says future space capability will not be built by government agencies alone. ‘It will be co-developed with industry, start-ups, and technology innovators’.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
Another view is possible. Globalisation works for all. How much oil and gas can any country stockpile. The disruption to global shipping and supply chains during the Covid pandemic was an exceptional event. If Quad is meant to assure an open Indo – Pacific, so should the Strait of Hormuz be. Also the Malacca Strait for that matter. If the Houthis are not troubled, the Suez Canal is so much more fun to use than going around the Cape of Good Hope,
Another view is possible. Globalisation works for all. How much oil and gas can any country stockpile. The disruption to global shipping and supply chains during the Covid pandemic was an exceptional event. If Quad is meant to assure an open Indo – Pacific, so should the Strait of Hormuz be. Also the Malacca Strait for that matter. If the Houthis are not troubled, the Suez Canal is so much more fun to use than going around the Cape of Good Hope,