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All 22 Indian Crew Members Rescued After Incident Involving Tanker Off UAE Coast
· NDTV Profit
All 22 Indian crew members aboard crude oil tanker MT GEM No. 2 were rescued after an incident off Ras Al Khaimah, UAE. India’s Dubai consulate confirmed their safety and said it was coordinating with UAE authorities.
The analysis
This is an Input cost / crude event. India imports most of its crude, so input costs pass through to margins downstream and to the rupee. Producers and consumers of the same input move in opposite directions.