The IT industry’s Nasscom has urged member companies to postpone travel to affected areas in the Middle East due to the current situation. Nasscom has also recommended facilitating work-from-home arrangements for employees in the region. Operations are running normally, with companies staying alert and ready for further actions if needed.
The industry emphasizes the importance of employee safety and security as a top priority. Concerns arise over the ongoing conflict involving the US, Israel, and Iran, impacting the exporting sector. Pankaj Chadha, Chairman of EEPC India, highlights potential disruptions in engineering exports to key markets like Saudi Arabia and the UAE.
Experts warn of potential blockades in the Strait of Hormuz, a critical oil trade route, which could lead to energy price spikes and increased freight costs. The situation’s volatility poses risks to trade with the UAE and Saudi Arabia, affecting shipments and raising input costs. EEPC India expresses concerns over the cumulative impact on revenue and profitability.
