Indian Government's Major Decision Amid Conflict! New Policy Formulated to Protect Supply Chains

The Indian government has announced a new policy to introduce flexibility in export procedures to protect supply chains, specifically in response to the potential disruption of the Hormuz Strait due to the West Asia conflict. Key measures include exemptions in export authorizations, customs clearance, and protection for exporters from insurance companies. The government is actively seeking alternative crude oil sources, such as Russia, as approximately 85% of India's crude imports are at risk from the geopolitical tensions affecting this critical shipping route.