The crisis changed India in many ways. September 19, 2008: A world wrapped in uncertaintyThe global financial crisis erupted from the US housing market, where easy credit, rising home prices and risky mortgages had fuelled a massive boom. As borrowers defaulted and mortgage-linked assets collapsed, losses spread across banks and financial institutions.Lehman Brothers’ collapse on…

The situation comes as the Strait of Hormuz has remained effectively blocked for months. India needs to diversify its crude and gas suppliers, expand strategic storage and strengthen port infrastructure as growing security tensions in West Asia expose vulnerabilities in the country’s energy supply chains.The latest flare-up involving Saudi Arabia and Yemen’s Houthi rebels has…