Oil tops $100, Indian industry seeks relief, CII urges caution
Oil prices have shot past $100 a barrel thanks to tensions in West Asia, and Indian businesses are feeling the pinch.
Industry leaders are urging the government to step in with targeted relief: think financial breaks for small and midsize companies, plus new supply chain partnerships.
Chandrajit Banerjee from CII put it simply: support is needed, but without putting extra strain on public finances.
Exporters hit by air freight costs
There's also talk of quick trade moves like antidumping duties to steady the economy.
Exporters, especially smaller ones, are struggling with high air freight costs that mess up shipping schedules.
Some experts suggest switching to alternatives like PNG or electric cooking to ease the energy crunch.
On a brighter note, Puneet Kaura from Samtel Avionics sees this as a chance for India's defense sector to become more self-reliant by boosting local manufacturing.