Parliamentary panel to hear views of Shipping Ministry on impact of West Asia crisis on India's maritime trade
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India's parliamentary panel is set to convene a critical meeting, bringing together key ministries to address the escalating West Asia crisis and its profound disruption to the nation's maritime trade. The emergency session underscores New Delhi's growing alarm over persistent Houthi attacks in the Red Sea, which have forced widespread shipping reroutes and triggered a surge in freight rates and insurance premiums. The ongoing turmoil has significantly impacted India's supply chains, particularly for crucial crude oil imports and exports to Europe and the US, traditionally reliant on the Suez Canal route. India's Navy, through Operation Sankalp, has bolstered its presence in the Gulf of Aden, conducting anti-piracy and anti-drone operations to safeguard commercial vessels and protect Indian seafarers. External Affairs Minister S Jaishankar recent emphasis on robust Gulf ties signals New Delhi's two-pronged approach: securing immediate maritime passages while pursuing diplomatic de-escalation. This high-level deliberation is expected to explore both short-term mitigation strategies and long-term infrastructure adjustments. Discussions will likely revolve around bolstering domestic shipping capabilities, exploring new trade corridors like the nascent India-Middle East-Europe Economic Corridor (IMEC), and enhancing supply chain resilience. The outcome will be closely watched as India navigates complex geopolitical headwinds threatening its economic growth trajectory.