Disruptions cannot be reversed overnight: ASSOCHAM chief

To what extent has the ongoing West Asia crisis affected Indian industry, trade and investment? The impact has been considerable. Import prices have risen because of supply disruptions and shortages, creating an imbalance between demand and supply. While India’s export volumes have remained resilient, the cost of exports has gone up as input prices have increased and availability has become tighter. Such disruptions cannot be reversed overnight. Even if the geopolitical situation improves, it could take another three to four months for supply chains and prices to stabilise. India’s strong domestic consumption continues to support economic activity, but inflation remains…