Chandigarh, March 9 -- The Ludhiana industrial sector is facing major disruptions as escalating tensions in West Asia affect global shipping routes and trade flows.
Cancelled shipments, higher insurance costs and vessel rerouting through longer routes such as the Cape of Good Hope to avoid high-risk areas including the Red Sea and the Persian Gulf were reported by exporters.
The situation has also affected the Strait of Hormuz, a key passage that carries around 20 per cent of global crude and energy supplies, and logistics hubs such as Jebel Ali Port, a major distribution centre for Indian garments, yarn and auto components.
Upkar Singh Ahuja, President, Chamber of Industrial & Commercial Undertakings (CICU), said the situation is...