The All India Association of Industries and World Trade Center Mumbai, in a significant and welcome development for global trade and energy security, welcome the recent announcement by the Iranian Ports and Maritime Organisation regarding the reopening of the Strait of Hormuz for commercial navigation during the ongoing ceasefire period.
Dr Vijay Kalantri, President, All India Association of Industries (AIAI) and Chairman, World Trade Center Mumbai, said, we welcome the recent announcement by the Iranian Ports and Maritime Organization regarding the reopening of the Strait of Hormuz for commercial navigation during the ongoing ceasefire period.
This timely and constructive development is a positive step towards restoring confidence in global maritime trade and ensuring the smooth flow of critical energy supplies. It highlights the value of sustained dialogue, prudent coordination, and mutual restraint in addressing complex regional challenges.
He further added, “The resumption of commercial navigation through this vital waterway is expected to significantly ease pressures on the global energy market, offering much-needed relief to trade and industry, while also benefiting consumers worldwide. It is likely to contribute to moderating prevailing inflationary trends and enhancing overall economic stability.
