Red Sea crisis: Kanpur exporters hold back ₹100 crore-worth consignments
Kanpur exporters are holding back export consignments worth ₹100 crore due to the Israel-Hamas conflict and attacks on cargo ships in the Red Sea. Shipping companies have refused to provide insurance cover, and alternative routes have increased freight costs by 35%. The situation has impacted the manufacturing cost of items and has raised concerns about the safety and security of the consignments.
Source: hindustantimes.com