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After Iran's Move, Will India Also Collect 'Tolls' from the Ocean? Experts Offer Major Advice
Discussions regarding Iran's potential imposition of tolls on ships passing through the Strait of Hormuz have caused a significant stir within the global trade sector. Against this backdrop, Ajay Bagga—a renowned Indian banker—has advised India to take a similar step.
According to Bagga, if Iran is permitted to levy tolls on a natural maritime route, it could set a dangerous precedent on a global scale. In the future, other nations might also begin levying fees on key waterways.
Consequently, he suggested that India should consider collecting tolls from international shipping vessels by bolstering its naval deployment near the Andaman and Nicobar Islands—specifically in the vicinity of Indira Point on Great Nicobar. This region is considered strategically vital for global trade due to its proximity to the Strait of Malacca.
According to experts, such a decision could yield economic benefits for India and enhance its influence in the realm of global maritime geopolitics. However, taking such a step could prove challenging given the existing international maritime laws and the principles of "freedom of navigation."
Meanwhile, if tolls are indeed implemented on the Hormuz route, the additional cost per ship could rise by approximately $2.5 million—a development likely to have a direct impact on global oil prices.
Discussions regarding Iran's potential imposition of tolls on ships passing through the Strait of Hormuz have caused a significant stir within the global trade sector. Against this backdrop, Ajay Bagga—a renowned Indian banker—has advised India to take a similar step.
According to Bagga, if Iran is permitted to levy tolls on a natural maritime route, it could set a dangerous precedent on a global scale. In the future, other nations might also begin levying fees on key waterways.
Consequently, he suggested that India should consider collecting tolls from international shipping vessels by bolstering its naval deployment near the Andaman and Nicobar Islands—specifically in the vicinity of Indira Point on Great Nicobar. This region is considered strategically vital for global trade due to its proximity to the Strait of Malacca.
According to experts, such a decision could yield economic benefits for India and enhance its influence in the realm of global maritime geopolitics. However, taking such a step could prove challenging given the existing international maritime laws and the principles of "freedom of navigation."
Meanwhile, if tolls are indeed implemented on the Hormuz route, the additional cost per ship could rise by approximately $2.5 million—a development likely to have a direct impact on global oil prices.
According to Bagga, if Iran is permitted to levy tolls on a natural maritime route, it could set a dangerous precedent on a global scale. In the future, other nations might also begin levying fees on key waterways.
Consequently, he suggested that India should consider collecting tolls from international shipping vessels by bolstering its naval deployment near the Andaman and Nicobar Islands—specifically in the vicinity of Indira Point on Great Nicobar. This region is considered strategically vital for global trade due to its proximity to the Strait of Malacca.
According to experts, such a decision could yield economic benefits for India and enhance its influence in the realm of global maritime geopolitics. However, taking such a step could prove challenging given the existing international maritime laws and the principles of "freedom of navigation."
Meanwhile, if tolls are indeed implemented on the Hormuz route, the additional cost per ship could rise by approximately $2.5 million—a development likely to have a direct impact on global oil prices.
