Indian companies scrambling to renegotiate contracts amid Gulf tensions

Mumbai: Indian companies with significant exposure to West Asia, both as a market and as a trade route, are turning to legal and trade experts as they brace for potential fallout from the US-Israeli strike on Iran, which has raised tensions in the Middle East.

Companies in sectors such as energy, speciality chemicals and gems and jewellery that are major importers from Gulf countries will need to re-examine their strategies, as will outbound exports from India, said experts.