US East Coast, Gulf Coast dockworkers' strike to hurt India's exports
Exporters expressed concerns over the development, saying that a lot of shipments go to the East Coast and from there, businesses take shipments to the West Coast of the US
New Delhi: The US East Coast and Gulf Coast dockworkers’ strike is expected to hurt the country's exports to America, which is the largest trading partner of India. However, exporters expressed concerns over the development, saying that a lot of shipments go to the East Coast and from there, businesses take shipments to the West Coast of the US.
“Amid the global economic slowdown, this is adding to the worries of the Indian exporters to the US, India's largest trading partner and biggest export destination. Due to the crisis, exports will be delayed which could lead to missed deadlines, contract penalties and strained relationships with US buyers,” said Sanjay Budhia, MD of Patton International Ltd & chairman of the CII national committee on EXIM.
“Also, with ports on the East and Gulf Coasts experiencing disruptions, exporters may have to reroute shipments to the US West Coast or Canadian ports, incurring higher transportation costs and extended delivery times,” Mr Budhia added.