WORLD HISTORY

Detailed explanation-1: -The Suez Canal is important because it is the shortest maritime route from Europe to Asia. Prior to its construction, ships headed toward Asia had to embark on an arduous journey around the Cape of Good Hope at the southern tip of Africa.

Detailed explanation-2: -Approximately 12% of global trade and 30% of global container traffic traverse the Suez, transporting over USD $1 trillion worth of goods per annum. On average, 50 ships traverse the canal daily carrying between USD $3-9 billion worth of cargo.

Detailed explanation-3: -The Suez Canal was opened on 17 November, 1869.

Detailed explanation-4: -The Suez canal links the Mediterranean Sea with the Red Sea, making it the shortest shipping route from Europe to Asia. It was completed in 1869 and has become one of the world’s busiest maritime routes. Its construction has been a boon to the marine sector regarding shorter transit times and costs savings.

Detailed explanation-5: -The Suez Canal is extremely important for the Indian economy because of its strategic location on the sea routes between the Red Sea and the Mediterranean. It is the only alternate sea trading route to the traditional Cape Route, which is two week’s longer worth of journey.