New Delhi, April 30 -- Since the US-Iran war began two months ago, crude oil prices have surged sharply, hovering between $100-120 per barrel as I write this editorial. With no end to the war, with both nations sticking to their demands for a peace deal, the prices of crude oil is likely to surge even more. This means it will be an added burden on our already strained Indian manufacturing sector. And if you ask me what the ramifications of the ever-increasing crude oil prices on our manufacturers, I would say this is not just another global fluctuation; it is a direct cost shock for Indian SMEs.
We often don't give much thought and we have this general perception that crude oil is just a fuel, but in actuality its impact runs much deeper. ...