After Hormuz closure Singapore becomes India's 2nd biggest export destination
Business
The conflict in West Asia has shaken up India's trade game, especially after the Strait of Hormuz closed in March.
With old routes disrupted, Singapore has now overtaken the United Arab Emirates (UAE) as India's second-biggest export destination, a pretty big shift for Indian exporters.
Singapore exports jump 180% India diversifies
India's exports to Singapore shot up by 180% in April 2026, while shipments to the UAE dropped by more than one-third.
The crisis also pushed India to look beyond its usual energy suppliers: Oman, Peru, and Nigeria are now on the list as Gulf countries struggled with supply.
Gulf oil producers cut output sharply, making imports pricier for India, though Saudi Arabia managed to bounce back with stronger exports this April.