Navy Chief Highlights Economic Impact of Strait of Hormuz Crisis

Navy Chief Highlights Economic Impact of Strait of Hormuz Crisis.webp

Mumbai, April 2 Disruptions in the Strait of Hormuz have caused severe economic impact and energy instability in the region, Indian Navy chief Admiral D K Tripathi said on Thursday amid the conflict in West Asia.

Speaking at an event where INS Sunayna, an offshore patrol vessel, set sail from Mumbai as Indian Ocean Ship (IOS) Sagar, the admiral said competition at sea has no longer been confined to oil and energy.

It is now expanding towards resources that will shape future growth – such as rare earth elements, critical minerals, new fishing grounds, and even data, he said.

The West Asia crisis began on February 28 after a joint attack by the US and Israel on Iran.

Iran's attacks on its neighbors, along with its control over the Strait of Hormuz, have disrupted the world's energy supplies, with effects far beyond West Asia.

"With the conflict in West Asia well into its fifth week, the disruptions in the Strait of Hormuz have caused severe economic impact and energy instability in the region," Tripathi said.

There has been a significant increase in marine surveys, deep-sea research activity, and Illegal Unreported and Unregulated Fishing (IUU), which often encroaches upon the sovereign rights of littoral nations and exploits gaps in monitoring and enforcement, he said.

In addition to these, threats such as piracy, armed robbery, and drug trafficking, backed by unimpeded access of advanced technology to non-state actors, have also become more complex and challenging to counter, the Navy chief pointed out.

Last year alone, the Indian Ocean Region witnessed a staggering 3,700 maritime incidents of varying nature, the admiral said.

Additionally, narcotics seizures in the region exceeded USD 1 billion in 2025, highlighting the persistence and spread of such challenges in the region, he said.
 
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critical minerals data security drug trafficking energy instability hormuz strait illegal fishing indian navy indian ocean region marine surveys maritime incidents maritime security piracy rare earth elements sovereign rights west asia conflict
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