Global Geopolitical Tensions Impacting Indian Industry: FICO Urges Government Support
The Federation of Industrial & Commercial Organisation (FICO) has expressed serious concern over the growing impact of global geopolitical tensions, particularly the ongoing conflict involving Iran, Israel and the United States, which is creating instability in international markets and adversely affecting Indian industry.
City Air News
Mar 12, 2026 07:44
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Ludhiana, March 12, 2026: The Federation of Industrial & Commercial Organisation (FICO) has expressed serious concern over the growing impact of global geopolitical tensions, particularly the ongoing conflict involving Iran, Israel and the United States, which is creating instability in international markets and adversely affecting Indian industry.
Gurmeet Singh Kular, President, FICO, stated that the rise in international crude oil prices has significantly increased the cost of petrochemical-based raw materials. As a result, industries such as plastics, polyester yarn and other petrochemical-dependent sectors are facing substantial increases in production costs. He further pointed out that rising costs are forcing manufacturers to increase the prices of finished goods, which ultimately affects consumers and weakens market demand. The prevailing uncertainty in global markets is also making it difficult for industries to plan their business operations effectively.
Manjinder Singh Sachdeva General Secretary FICO said that the surge in raw material prices has placed a heavy burden on Micro, Small and Medium Enterprises (MSMEs), many of which are already operating under tight margins. Several units are finding it difficult to maintain their production levels, which could eventually impact supply chains and industrial growth.
In view of the emerging challenges, FICO has urged the Central Government to take immediate steps to support industry by rationalizing taxes on petroleum products, ensuring stability in raw material prices and extending necessary relief measures for MSMEs to safeguard industrial production and employment. FICO emphasized that timely intervention by the government will help industries maintain competitiveness and sustain economic growth during this challenging global situation.
