NEW DELHI – Apprehension is mounting in India over the economic fallout of the crisis in the Red Sea and the Gulf of Aden region, which could deal a US$30 billion (S$40.3 billion) blow to India’s external trade in the next six months.
Freight costs have shot up as ships take a detour to avoid potential rebel attacks, which also put the lives of Indian crew members on vessels transiting the dangerous waters at risk.
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