
India Ratings and Research (Ind-Ra), a subsidiary of the Fitch Group, has warned that ongoing disruptions along the Red Sea route may significantly escalate freight and forwarding costs for businesses engaged in international trade. According to the rating agency, these costs could surge by 25-30%, exacerbating challenges for industries already grappling with trade issues amid the Red Sea crisis. The crisis unfolded after Yemen’s Houthi group launched attacks using drones and missiles…