The ongoing geopolitical conflicts, particularly those involving Russia-Ukraine and Iran-Israel, are creating significant challenges for India’s small and medium-sized enterprises (SMEs) in the export sector. Industry experts, as reported by Logistics Insider, highlight the severe impact on these businesses.
The article details how increased freight charges, extended cargo turnaround times, and soaring insurance premiums are crippling export operations. Many SME exporters have been forced to slash production by 50%, struggling to operate with such high costs and delays. Experts warn that these disruptions not only hinder current business but could also limit future growth prospects.
The report emphasizes the crucial role of SMEs in India’s export industry and job creation. Experts urge the government to take decisive action to protect these vulnerable players. They suggest measures to ease the financial burden and streamline logistics processes, ensuring the continued success of small businesses in the global market.
Source: Logistics Insider