ANI
20 Jun 2025, 15:43 GMT+10
New Delhi [India], June 20 (ANI): The Indian Basmati rice sector is likely to have a significant impact, weighed down by ongoing uncertainties in the Middle East, according to a recent report by Crisil ratings. Additionally, other sectors such as fertilisers and diamonds, both cut and polished can also witness some impact, but expected to be less than the basmati rice sector.According to Crisil report, Iran and Israel accounts for approximately 14 per cent of Indian basmati rice exports in FY25, and it is expected to see limited impact on it due to the ongoing tensions. 'Additionally, India's ability to export to other countries in the Middle East, the US and Europe reduces demand risk. But a prolonged crisis can lead to possible delays in payment from counterparties in these regions, elongating the working capital cycle,' the report added. For domestic diamond polishers, Israel accounts nearly 4 per cent of total diamond exports last year, which makes Israel one of the main trading hubs. However, during the time of conflict, polishers can switch to alternative trading hubs such as Belgium and the United Arab Emirates, with ultimate buyers based in the US and Europe, which will help them to manage any adverse impact on the sector. On the global crude aspect, the uncertainties have impacted global crude oil markets, with Brent hovering in the range of USD 73-76 per barrel (bbl) over the past one week, up from an average of USD 65 per bbl during April-May 2025.Furthermore, prolonged and increasing uncertainties can lead to a rise in air/sea freight costs and insurance premiums for export/import-based sectors. (ANI)
Get a daily dose of India Gazette news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.
More InformationWASHINGTON, D.C.: Mitsubishi Motors is the latest automaker to raise prices in the United States, joining a growing list of car companies...
INDIANAPOLIS, Indiana: Eli Lilly is making a bold play in cardiovascular gene therapy, announcing plans to acquire its partner Verve...
BEIJING/WELLINGTON: New Zealand's Prime Minister Christopher Luxon commenced his visit to China on June 17, seeking to strengthen trade...
NEW YORK, New York - U.S. stocks made only minor moves in both directions,Thursday, as investors fretted about the Israel-Iran conflict...
PARIS, France: Luxury group Kering's decision to tap Luca de Meo as its next chief is being seen as a daring but necessary attempt...
NEW YORK CITY, New York: The Trump family has unveiled a new venture in the telecom sector — and it's drawing as much scrutiny as it...
NEW DELHI, India: Indian investigators are examining the black boxes from a Boeing 787 Dreamliner to determine the cause of a catastrophic...
NEW DELHI, India: The flight data recorder from the crashed Air India plane was found on June 13. This vital discovery may help investigators...
NEW DELHI, India: Amid mounting U.S.-China trade tensions, Apple has sharply increased iPhone shipments from India to the United States,...
NEW DELHI, India: Ramesh Viswashkumar, a 40-year-old British national, has been identified as the sole known survivor of the Air India...
NEW DELHI, India: A scorching heat wave is engulfing northern India, with temperatures rising well above normal and causing significant...
New Delhi [India], June 20 (ANI): The Indian Basmati rice sector is likely to have a significant impact, weighed down by ongoing uncertainties...