Possibility of Rise in Essential Commodity Prices Following Strikes on Iran

Rising tensions in West Asia following the aerial strikes by the United States and Israel on Iran are likely to have an impact on Indian markets, according to economic observers. Due to the ongoing situation, prices of packaging materials and transportation costs may increase, potentially affecting consumers, said Mayank Shah, Vice President of Parle Products. However, he expressed optimism that the crisis would not persist for a prolonged period.

Meanwhile, other FMCG majors such as Marico and Dabur declined to comment on the issue. Rahul Bharti, Senior Executive Officer at Maruti Suzuki, stated that the company’s exports to West Asia are not significant, but they are closely monitoring the situation. In this context, the central government held a key meeting with exporters to assess the potential impact of the West Asia tensions on India’s trade. The government assured exporters that necessary measures would be taken to address any disruptions in export activities.

At the same time, garment exporters have urged the government to waive demurrage charges on goods currently stranded at airports due to restrictions on flight operations. They have requested relief measures to mitigate the challenges faced by businesses under the prevailing circumstances.