Rice exporters alone are said to be stuck with receivables of Rs 800-900 crore against shipments made till June 2019.
A major hit to India from the uncertainty triggered by the assassination of Iran’s most powerful military commander could be to its multi-billion dollar basmati rice export industry. The Islamic republic accounted for $1.56 billion (Rs 10,790.02 crore) out of India’s total $4.71 billion (Rs 32,804.30 crore) worth of basmati shipments in 2018-19.
“We have already been facing payment problems from Iran due to the US financial sanctions on account of the latter’s nuclear programme. This news (the killing of General Qassem Soleimani by a US airstrike) may make things worse,” industry sources told The Indian Express.
Rice exporters alone are said to be stuck with receivables of Rs 800-900 crore against shipments made till June 2019.
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