According to a Bhopal-based businessman, consignments of Premium 1121 basmati rice are currently stuck at ports, with payments worth Rs 2,000 crore to Rs 25,000 crore pending
Payments ranging from Rs 2,000 crore to Rs 25,000 crore are pending, causing serious difficulties to traders, says a businessman amid mideast war. Representational Pic
The ongoing West Asia war has sharply disrupted India’s premium basmati rice exports, inflicting heavy losses on traders and putting farmers’ livelihoods at risk, the ANI reported.
According to a Bhopal-based businessman, consignments of Premium 1121 basmati rice are currently stuck at ports, with payments worth Rs 2,000 crore to Rs 25,000 crore pending.
Speaking to ANI, the businessman said, “The Premium 1121 basmati rice that we used to export is currently being held at ports. If this situation continues, Indian traders will face significant losses. Payments ranging from Rs 2,000 crore to Rs 25,000 crore are pending, causing serious difficulties. The government is taking measures, but if the situation persists, farmers will also face problems in the future.”
On Wednesday, the government convened an all-party meeting on the West Asia tensions. The meeting was chaired by Defence Minister Rajnath Singh and attended by several senior opposition leaders.
Union Home Minister Amit Shah, Parliamentary Affairs Minister Kiren Rijiju, Finance Minister Nirmala Sitharaman, External Affairs Minister S. Jaishankar, Petroleum and Natural Gas Minister Hardeep Singh Puri, and Foreign Secretary Vikram Misri were among those present.
West Asia tensions hit Indian workers’ livelihoods
Meanwhile, Indian workers, including traders, businessmen, contractors, and factory labourers, are witnessing a downturn amid escalating tensions in West Asia, as disruptions in transportation and payments have severely impacted their livelihoods.
Earlier, a report by Crisil Ratings said that if geopolitical uncertainties in West Asia escalate or persist, several Indian sectors, including basmati rice, fertilisers, diamond polishing, travel operators, and airlines, could be adversely affected due to their direct exposure to the region.
The report noted that sectors such as ceramics and fertilisers, which depend heavily on imported liquefied natural gas (LNG), could face near-term production challenges and require close monitoring.
Crude-linked sectors may face impact if energy prices stay high
Crude-linked sectors, including downstream oil refiners, tyres, paints, speciality chemicals, flexible packaging, and synthetic textiles, may also be affected if energy prices remain elevated.
India imports around 85 per cent of its crude oil and about half of its LNG requirements, with 40–50 per cent of crude oil and 50–60 per cent of LNG shipments passing through the Strait of Hormuz.
According to the report, most shipping vessels have stopped sailing on this route since March 1, 2026, due to increased risks. Any prolonged disruption could impact global crude oil and LNG availability and push prices higher.
Meanwhile, the situation in West Asia remains tense. Despite claims by US President Donald Trump that negotiations with Iran are underway and the conflict could end soon, the Pentagon is expected to deploy troops from the 82nd Airborne Division to the Middle East as the war enters its fourth week.
(With ANI inputs)
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
