THE ongoing Iran-Israel conflict has sharply increased the cost of air and sea freight for Indian exports, especially on routes through the Suez Canal, which are vital for trade with Europe, North Africa, and the Americas, reports Hyderabad's Deccan Chronicle.
Air freight rates have also spiked as flights take longer routes to avoid Iranian airspace.
The conflict has caused India's trade with Israel to decline 50 per cent, with significant drops in exports of petroleum products, organic chemicals, and machinery.
Rising freight and insurance costs are expected to impact various sectors as the geopolitical situation evolves.
SeaNews Turkey
Air freight rates have also spiked as flights take longer routes to avoid Iranian airspace.
The conflict has caused India's trade with Israel to decline 50 per cent, with significant drops in exports of petroleum products, organic chemicals, and machinery.
Rising freight and insurance costs are expected to impact various sectors as the geopolitical situation evolves.
SeaNews Turkey
