The ongoing conflict in West Asia will inevitably raise freight costs and stretch supply chains, SC Ralhan, President of the Federation of Indian Export Organisations (FIEO) said.
"Our trade with both Iran and Israel, while important, constitutes a small share of our overall export-import basket. The government and industry are jointly monitoring developments to ensure minimal disruption," the exporters' body chief said.
As the US and China agreed to reduce tariffs on each other's goods, India can use this as leverage to strengthen exports in sectors that remain relatively insulated from US-China trade, SC Ralhan, President of the Federation of Indian Export Organisations (FIEO), said.
US tariffs provide Indian exporters with a competitive advantage over rival nations, said SC Ralhan, the President of the Federation of Indian Export Organisations (FIEO), adding that the movement is 'quite favourable'.