Assertion: The Suez Canal has significantly reduced transportation costs and facilitated easier access to the Indian market.

Reasoning: The Suez Canal  eliminated the need to navigate around the American continent to reach Europe.

Assertion (A) is true but Reasoning (R) is not correct.

The correct answer is Option 3: Assertion (A) is true but Reasoning (R) is not correct.

Assertion: The Suez Canal has significantly reduced transportation costs and facilitated easier access to the Indian market. This is correct. The Suez Canal acts as a shortcut between the Mediterranean Sea and the Red Sea, significantly reducing the distance and time taken for ships to travel between Europe and Asia. This translates to lower transportation costs for goods moving between these regions, including those headed for the Indian market.

Reasoning: The Suez Canal  eliminated the need to navigate around the American continent to reach Europe. This is incorrect. The Suez Canal connects the Mediterranean Sea with the Red Sea,  allowing ships to bypass the need to sail around Africa (not the Americas) to reach Europe from Asia and vice versa.

"The Suez Canal is a man-made waterway that stretches from north to south across the Isthmus of Suez in northeastern Egypt. It connects the Mediterranean Sea through Port Said with the Gulf of Suez, which is an extension of the Red Sea. This canal serves as a direct trade route for ships traveling between European or American ports and ports located in South Asia, East Africa, and Oceania. By eliminating the need to navigate around the African continent, the Suez Canal has significantly reduced transportation costs and facilitated easier access to the Indian market. In terms of both strategic and economic significance, it ranks among the most important waterways in the world. The canal was opened in 1869, marking a milestone in international trade and transportation."