Will India’s economy be able to ward off the heat from soaring oil prices? – The National
Will India’s economy be able to ward off the heat from soaring oil prices? – The National
Salman Beg, who runs a small factory making crockery and cutlery on the outskirts of Mumbai, is feeling the heat from higher oil prices.
Steep fuel prices are adding to his expenses during a time when he is trying to get his business back on its feet, after it was battered by the impact of Covid-19 lockdowns, he says.
“Oil prices have gone up, transportation and raw materials have become more expensive,” he says. “We've been hit from all sides.”