Israel-Hamas conflict: Indian exporters may face higher risk premiums, shipping costs

(Devdiscours, New Deli, 8 October 2023) Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. For merchandise exports of India, the war may lead to higher insurance premiums and shipping costs. Indian ECA ECGC may charge higher risk premiums from Indian firms exporting to Israel, think tank Global Trade Research Initiative (GTRI) said on Sunday. ECGC Ltd (formerly Export Credit Guarantee Corporation of India Ltd) is wholly owned by the government of India. Mumbai-based exporter and founder chairman of Technocraft Industries India Sharad Kumar Saraf said the conflict may have an impact on Indian exporters in the short run. ''But if the war escalates, things may get bitter for our exporters of that region,'' Saraf said.