New Delhi - India could benefit from potential concessions on proposed transit service fees in the Strait of Hormuz after Iran indicated that “friendly” nations may receive preferential treatment under any future fee framework governing vessel movements through the strategic waterway.

The development comes amid growing global attention on maritime security and shipping costs in the Gulf region, where the Strait of Hormuz serves as one of the world’s busiest maritime chokepoints for crude oil, liquefied natural gas, and other essential commodities. Any changes to transit charges could have significant implications for global trade and freight markets . . .