Export Logjam: Exporters Invoke Force Majeure Amidst 30x Freight Hikes

Published

Indian exporters dealing in heavy tiles and bathware have hit a complete standstill as shipping companies have hiked freight charges by nearly 20 to 30 times. The inability to ship finished goods has led to massive inventory build-up at factories, forcing companies like Lexus Granito and Asian Granito to evaluate operational suspensions. With approximately 30,000 export containers normally moving out of Morbi monthly, the current deadlock represents a significant loss of foreign exchange. Exporters are now desperately seeking regulatory relief and alternative trade corridors to fulfill existing international contracts and avoid permanent market share loss.

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