West Asia conflict raises cost pressures for Indian firms: Crisil

MUMBAI: If the ongoing war on Iran and its counter attacks on its neighbours and the resultant uncertainties persist or escalate, there could be adverse impact on sectors such as fertilisers, diamond polishing, travel operators, airlines and basmati rice exporters, given their direct exposure to the region. If the closure of the Strait of Hormuz continues for longer, the impact on energy prices will be too high for downstream industries that dependent on LNG and crude oil, Crisil Ratings has warned in two separate reports Thursday. Countries affected by the war are Israel, Iran, the UAE, Oman, Yemen, Qatar, Kuwait,…