Conflict in West Asia resulting in disruptions in trade flow: Jaishankar

The disruptions in crucial shipping routes and trade flows triggered by the ongoing conflict in West Asia strengthened the case for de-risking, External Affairs Minister S Jaishankar said on Friday.

In an address at an India-Mediterranean business conclave, Jaishankar, referring to the proposed India-Middle East-Europe Economic Corridor (IMEC), said it aims to become a "cornerstone of global connectivity".

"The ongoing conflict in West Asia understandability has generated concerns about some of the contemporary initiatives," he said.

"Disruptions in crucial shipping routes that have increased shipping costs and necessitated the rerouting of trade flows, have added to our collective worries," Jaishankar said at the conference hosted by Confederation of Indian Industries (CII).

"But if you reflect on these happenings, they only strengthen the case for derisking. As the three hubs of India, Europe and the Middle East step up their interactions, connectivity will be more needed, not ..