Cost Of Russia-Ukraine War : Indian Businesses Suffer
The Russia-Ukraine conflict has created panic among a section of industrialists in Punjab, who have been trading with these two countries. Several exporters export hand tools, nut bolts, machine parts, motors, pharma, textiles, and fertilizers to both these countries. Besides, wax, and edible oils are imported from these countries. Due to the war, the exporters may face huge delay in payments of goods supplied or which are already in transit. Similarly, importers who have released the letter of credit are likely to face losses due to delay in receipt of materials.
