Arthanomics Vittarth

SUEZ CANAL

#Arthanomics97
With $200 billion of India’s trade flows with Europe, North America and South America at risk due to the blockage of the Suez Canal, the Department of Commerce has worked out an action plan to cope with the crisis, including possibly re-routing shipments through the Cape of Good Hope.

More than 200 vessels were waiting on the North and South sides of the Suez Canal and about 60 vessels are joining this queue daily. The Suez Canal blockage doesn’t just affect the global shipping industry or the Egyptian economy – countless businesses, from domestic transport providers to retailers, supermarkets and manufacturers are also impacted.
Read all about it in our post.

Credits: Pradnya Sawal, Purvi J. ,  Rashi Bid

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