Industry Expresses Concern Over Global Tensions Industrialists in Jalandhar have raised alarms about the potential economic fallout from escalating geopolitical tensions, particularly in West Asia. The Jalandhar Autoparts Manufacturers Association (JAMA) highlighted the risks posed by rising oil prices, disrupted shipping routes, and international trade volatility, which could significantly increase costs for auto components and foundry industries. These sectors, already reliant on stable energy prices and imported raw materials, face heightened uncertainty as global conflicts threaten supply chains and operational stability. Industry leaders warned that prolonged geopolitical instability could lead to sharp increases in crude oil prices, directly impacting transportation and manufacturing expenses. Balram Kapoor, Chairman of the Indian Industries Federation (IIF) Northern Region, emphasized that Jalandhar, a key hub for auto components and casting, could experience ripple effects in employment, production, and investment. He noted that the foundry sector, being energy-intensive, would be particularly vulnerable to rising fuel and electricity costs, squeezing margins for small and medium manufacturers. Sanjeev Juneja, president of JAMA, stressed the interconnectedness of the auto parts industry with global trade. He warned that energy market instability could disrupt supply chains, affecting exports and production planning. Juneja urged world leaders to prioritize dialogue and diplomacy, as ongoing conflicts threaten to harm ordinary citizens and businesses. Tushar Jain, general secretary of JAMA, called for proactive policy measures to support small and medium enterprises (MSMEs) amid global uncertainties. He highlighted the need for stable trade channels and safeguards to shield industries from external shocks.#jalandhar #jama #balram_kapoor #sanjeev_juneja #tushar_jain
