Will India’s economy be able to ward off the heat from soaring oil prices? – The National

  • Date: 24-Oct-2021
  • Source: The National
  • Sector:Economy
  • Country:Gulf
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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.”