India saw a significant decrease of 9% in non-oil exports in January compared to the previous month due to ongoing shipping route disruptions, forcing global shipping lines to take longer routes through the Cape of Good Hope.
The impact was particularly noticeable in exports to Europe and the US, with notable declines in electronic goods, pharmaceuticals, and engineering goods. Despite the challenges, oil exports were less affected as shipments were redirected to other destinations like Singapore, Australia, and Japan.
The shipping disruption in the Red Sea route raised concerns globally, especially for developing countries like India, as trade volumes through critical routes such as the Suez Canal decreased significantly.
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