Iran-Israel war escalation to impact India's trade with West Asia, say experts
NEW DELHI: Any further escalation of the ongoing war between Iran and Israel will have wider implications for India's trade with West Asian countries, including Iraq, Jordan, Lebanon, Syria, and Yemen, say experts.
They said that the war has already started impacting India's exports to Iran and Israel.
The US attacked three sites in Iran early Sunday, inserting itself into Israel's war aimed at destroying the country's nuclear programme in a risky gambit to weaken a longtime foe that prompted fears of a wider regional conflict as Tehran accused Washington of launching "a dangerous war".
"We are in for big trouble now because of this war. It will have a cascading effect on India's trade with West Asian countries," Mumbai-based exporter and founder chairman of Technocraft Industries India Sharad Kumar Saraf said.
Saraf said that his company is also holding back consignments to both these countries.
Technocraft Industries manufactures drum closures, nylon and plastic plugs, capseal closures, and clamps.
"There will be a cascading effect of this war," he added.
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