Atul Jhunjhunwala, an
exporter in the Indian eastern city of Kolkata, is tearing his
hair out, having just lost another order due to the Red Sea
crisis that has jacked up his shipping costs and.
Red Sea News: The Red Sea crisis has caused significant shipping costs and times for Indian companies, leading to job losses and increased costs for small exporters. In India, small exporters, who account for 40% of the country s annual merchandise exports worth USD 450 billion, have warned that job losses have started and could soar if the attacks, which began late last year, become prolonged.
An exporter in the Indian eastern city of Kolkata, Atul Jhunjhunwala is passing through a rough time, having just lost another order due to the Red Sea.
Electric vehicle sales in India are still in a fledgling stage and will need continued government support in the form of subsidy before the industry can firmly establish itself, said manufacturers of electric vehicles and other industry stakeholders during a panel discussion at CII Next Gen Mobility Show 2023.