New Delhi, May 6 -- The West Asia war may temporarily hurt India's growth rate and dampen investment sentiment, but the conflict poses no existential threat to most businesses, according to Rajiv Memani, president of lobby group Confederation of Indian Industry (CII).

Memani said that as a result of the external shocks, businesses are closely examining their factories, enterprises, trade routes and export markets to de-risk themselves.

Memani, who is also the regional managing partner of EY Africa-India and chair of EY Growth Markets Council, said that the challenge before businesses is to strike a balance between the costs that they can absorb and those that must be passed on to consumers, while managing the potential impact on demand....