The ongoing conflict in Western Asia has started shaking India’s business system. Concern is deepening from the major markets of the capital Delhi to the industrial world. If the situation continues like this for a long time, it can have a direct impact on business and everyday life worth thousands of crores.

Uneasiness is clearly visible in the big business centers of Delhi like Chandni Chowk, Khari Baoli, Bhagirath Place, Kashmiri Gate and Sadar Bazaar. A large part of these markets is dependent on exports to Western Asia and Europe through Dubai. The current situation has increased uncertainty over the supply chain, due to which traders are worried about the future.

Fear of crisis on business worth Rs 5000 crore

Chamber of Trade and Industry Chairman Brijesh Goyal has warned that if the war prolongs, Delhi’s trade and industry may have to suffer a loss of about Rs 5000 crore. According to the organization, this impact will not be limited to exports only, but will also affect the local markets.

Signs of impact on demand for Indian apparel also

According to CTI officials, Indian clothes, especially Sherwani, are very popular in the countries of West Asia including Iran. But the current situation has slowed down the pace of this trade, due to which the apparel industry is also on the verge of being affected.

There was also a rise in the prices of dry fruits

An increase of 30 to 40 percent has been recorded in the prices of dry fruits like pistachios, plums, raisins, figs, dates and mamra coming from Iran. This has not only increased the costs of traders but has also affected the pockets of common consumers.

Pressure on pharmaceutical industry due to inflation of raw materials

The rise in prices of essential commodities like chemical components, plastics and aluminum has increased the costs of pharmaceutical companies. These materials are widely used in the manufacturing of tablets and syrups as well as in packaging, making production expensive.

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Huge increase in raw materials of essential medicines

In recent times, the price of paracetamol raw material has increased by about 47 percent. Apart from this, there has been an increase of 54 percent in diclofenac, 33 percent in diclofenac potassium, 45 percent in amoxicillin trihydrate and about 60 percent increase in ciprofloxacin. This situation is indicating that the prices of medicines will increase in the coming time.

Street food business collapses due to LPG crisis

The shortage of LPG cylinders has badly affected the hotels, restaurants, banquets, dhabas and street food vendors of Delhi. Many small businessmen have either been forced to close their shops or are able to operate only for a limited time.

Out of 50 thousand vendors, 40% business is on the verge of closure.

According to CTI, there are about 50 thousand street food vendors in Delhi. Of these, 30 to 40 percent vendors have reached the stage of closing their business due to shortage of LPG. This is becoming a serious crisis not only for business but also for the livelihood of thousands of people.

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