Geo-Political Tensions May Hit Economy And Road Transport Sector, Warns Industry Leader
· Free Press Journal
Mumbai, March 17: Expressing concern over the evolving geo-political situation in the Middle East and its potential ripple effects on India’s economy, senior transport leader Bal Malkit Singh has urged the Government of India to take proactive and preventive measures to safeguard key sectors, particularly the road transport and MSME ecosystem.
Concerns over energy shortages and rising costs
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Highlighting the emerging risk of an “energy war” leading to shortages of crude oil, gases, and allied products, he noted that early signs of disruption are already visible across industries.
Rising input costs, reduced production, and operational challenges are beginning to impact factories, small businesses, and trading establishments across the country.
Transport sector slowdown and operational challenges
The road transport sector, which serves as the backbone of India’s supply chain, is witnessing a gradual slowdown in movement due to reduced industrial output. In certain segments, vehicle movement has reportedly declined by up to 50%, with fears that this could worsen to 70–80% if the situation persists, Bal noted.
Further concerns include rising costs of tyres, fuels, lubricants, and essential inputs like AdBlue (urea), along with the shutdown or increased pricing at highway dhabas and eateries, adversely affecting the driver community. There is also a growing risk of driver migration due to reduced work.
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He further stated that the industry stands committed to supporting national interests and ensuring continuity of supply chains, provided adequate relief and policy backing are extended during this critical period.
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