The ongoing conflict in West Asia has begun to affect the textile industry in Bhilwara, Rajasthan, with export orders being stalled and trade disruptions impacting shipments worth around Rs 800 to Rs 1,000 crore, industry representatives said.
The source said the recent surge in Asian LNG prices and supply disruptions have altered the economics of global gas trade, making shipments from more distant suppliers commercially viable despite higher transportation costs.
United States President Donald Trump on Tuesday warned Iran against attempting to disrupt global oil supplies, saying Washington would respond with overwhelming force if Tehran tried to interfere with energy shipments through the strategically vital Strait of Hormuz.
"The Central Government has assessed that the ongoing conflict in the Middle East has resulted in the "disruption of liquefied natural gas shipments through the Strait of Hormuz", which has led to suppliers invoking force majeure clause which would entail diversion of natural gas to the prio
The Aam Aadmi Party (AAP) MP has said that the ongoing conflict "poses serious risks" for India's trade, economy and energy security, as crude prices shot up due to uncertainty in maintaining safety over global shipping routes.
Congress MP Shashi Tharoor on Saturday urged for de-escalation in the US-Israel vs Iran conflict, saying that stability and calm should be restored as soon as possible.
Crude-linked sectors such as downstream oil refiners, tyres, paints, speciality chemicals, flexible packaging and synthetic textiles may also be affected if energy prices remain elevated.
India imports around 85 per cent of its crude oil and half of its LNG requirement, with about 40-50 per
Escalating tensions due to the West-Asia conflict involving Iran have heightened risks to global energy supply chains, particularly around the strategic Strait of Hormuz, raising concerns for major Asian importers, including India, according to a report by Goldman Sachs.
"The ongoing conflict has already begun to disrupt established global logistics channels. Air routes are being altered, and maritime trade through the Red Sea and key Gulf straits faces heightened uncertainty. If diversions become prolonged, shipments may increasingly have to reroute via
Taking it to social media post on X, Goyal said, India is emerging as a strong and trusted pillar of global food security under the leadership of Prime Minister Narendra Modi. He described the shipment as a reflection of India's nutritional capabilities and technological strength, adding tha
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