Iran Unrest: Potential Ripple Effects on Indian Industries Loom

Crisil reported that the current unrest in Iran has not affected Indian businesses yet. However, if tensions grow, industries linked to crude oil could face challenges from rising prices. India's dependency on Iranian crude is low, but price spikes could impact sectors like oil refining, aviation, and specialty chemicals.

Crisil, a domestic credit rating agency, announced on Wednesday that the current unrest in Iran has yet to impact Indian companies significantly.

Should the tensions escalate, the resultant rise in crude prices could challenge industries including oil refining, aviation, and those linked to specialty chemicals and synthetic textiles.

Despite India's minor crude import reliance on Iran, increased prices could influence sectors substantially; Crisil warns of potential supply chain disruptions and increased costs for various industries.

(With inputs from agencies.)