India just dodged a bullet.
Now it's asking: what if the next one doesn't miss?
Back in February, war broke out between the US/Israel and Iran.
The Strait of Hormuz — the world's busiest energy chokepoint — nearly shut down.
Global panic. Except in India.
Why?
Because India had already spread its bets.
Russia. The US. Venezuela. Africa.
Nearly 40 countries now feed India's energy needs.
Crisis managed. Headlines written. Case closed.
Except it isn't.
Diversifying suppliers isn't the same as diversifying routes.
You can buy oil from 40 countries.
But if all 40 ships sail through the same narrow strip of water?
You've just relabeled the same risk.
And that's exactly what's happening.
Before the war:
After the "diversification":
Different suppliers. Same bottleneck.
So policymakers in Delhi are eyeing a new escape route.
All the way around Africa.
Why this route, why now?
That combination could send more Latin American crude sailing east — around the Cape, straight to India.
Russia can already reroute this way if needed. Costs the seller a week extra, not India a rupee more.
But here's the catch: only 7% of India's crude currently moves via this route.
LPG has no easy escape.
The Gulf is the world's second-largest LPG exporter, sitting right next door.
Go further out, and freight costs eat the savings.
So even after every reroute and rethink…
Hormuz will likely stay India's default LPG lifeline.
Some chokepoints, it turns out, you can't just sail around.
That's all for now!
