16 апреля 2024 — 14:00
India is forced to reorient the delivery of part of its exports to European countries from sea to air transport due to the escalation of tensions in the Middle East.
This was announced by the executive director of the Federation of Indian Export Organizations (FIEO) Ajay Sahai to The Economic Times newspaper, TASS writes.
"The crisis in the Middle East leads to the transfer of a significant volume of transportation of Indian exports to European countries from sea to air transport. They will increase by 10%-15% with an increase in the time of cargo delivery due to the inability to fly over the territory of Iran," Sahay said.
An increase in the length of delivery time and insurance premiums will raise its cost by 40%-60% and cause a delay of about 20 days for the receipt of goods. Indian exports, in particular, of engineering products to Europe under new agreements with importers, will suffer by 30%-35% as a result, the head of FIEO added