New Delhi, Feb. 3 -- In the wake of the Red Sea crisis, exporters are grappling with a host of challenges that threaten their profitability and operational efficiency.

Pankaj Bansal, Director of TMA International and Treasurer of Federation of Indian Micro, Small & Medium Enterprises (FISME), expressed concerns on the dire situation faced by exporters dealing with automotive parts, electrical products, and mineral products.

"The crisis has triggered a sharp increase in freight rates, aggravating the financial strain on exporters. The already elevated rates continue to rise, leading to unprecedented volatility in the shipping industry," Bansal stated exclusively to KNN.

This surge in costs directly impacts the bottom line of exporters, ...