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India and Germany need to ensure open markets and uninterrupted supply chains amid the ongoing West Asia crisis and disruptions in the Strait of Hormuz, said Jan Noether, Director General, Indo German Chamber of Commerce, highlighting the impact of geopolitical tensions on global trade.
In an exclusive interaction with ANI, Noether said both India and Germany are heavily dependent on free shipping routes for trade, particularly for the movement of oil, gas and other essential goods. He noted that disruptions in the Strait of Hormuz have affected trade flows and increased pressure on supply chains globally. "Trade has been affected since both India and Germany depend on supplies through the Strait of Hormuz, including oil and gas, which form the basis of energy supplies," he said. He stressed that maintaining open markets and ensuring the smooth movement of goods is critical for sustaining economic activity and business cooperation between countries. "Germany as well as India are large economies that depend on free trade and reliable business cooperation. Therefore, we need open markets and open supply chains to make that happen," he added. Noether also pointed out that the impact of the crisis is already being felt in Germany, with rising prices of fuel and daily consumption items. "Prices are up in Germany. If you look at fuel prices and general prices of daily consumption, they have increased," he said. He noted that the situation reflects the broader impact of global supply disruptions, as restrictions or uncertainties in key trade routes quickly translate into higher costs for consumers and businesses. Expressing hope for an early resolution, Noether said a political solution to the conflict is essential to ease tensions and restore stability in global markets. "We hope that there is a political solution and that it is around the corner, which can help soften tensions not only in the region but also globally," he said. The comments come at a time when global trade routes remain under pressure due to geopolitical tensions, with economies like India and Germany facing challenges related to energy supply, pricing and overall trade flows. Noether emphasised that restoring stability in supply chains will be key to ensuring continued trade and economic cooperation between nations. (ANI)
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