February 22

India’s Small Exporters Reel as Red Sea Crisis Helps Rivals Nab Business

Atul Jhunjhunwala, an exporter in the Indian eastern city of Kolkata, is tearing his hair out, having just lost another order due to the Red Sea crisis that has jacked up his shipping costs and times.
“Last week, I lost a big order to a Polish competitor who does not need to pay increased freight rates,” said Jhunjhunwala, head of Binayak Hi Tech Engineering which ships about 700 containers of machinery tools, industrial castings, and railway shed materials per year.
Photo courtesy of Erik Odiin.

Source: Reuters (link opens in a new window)

business development, distribution, international trade, manufacturing, MSMEs, supply chains