Iran-Israel-US war hits Panipat blanket exports
Orders cancelled, shipments stranded; freight rates, raw material costs rise
The ongoing conflict involving Iran-Israel-United States tensions has severely affected the blanket export business in Panipat, already under strain due to global disruptions such as the Russia-Ukraine War and tariff measures introduced during the tenure of Donald Trump.
Exporters say the industry, which has an annual blanket export turnover of around Rs 600-700 crore and largely caters to Middle-Eastern markets, is facing major disruptions. More than 150 containers carrying mink blankets and other products are stranded at sea, while over 400 containers are stuck at various ports.
Panipat’s overall annual turnover is estimated at around Rs 60,000 crore, of which nearly Rs 18,000 crore comes from exports.
Vinod Dhamija, chairman of the Panipat chapter of the Haryana Chamber of Commerce and Industries, said the conflict had badly affected the blanket export trade.
“Panipat exports mink blankets and prayer mats to Middle-East countries and has almost Rs 600–700 crore annual turnover. But due to this war not only the business of blankets has been badly hit but the payments have been stuck with the buyers. The orders have also been cancelled by the buyers,” he said.
Dhamija added that the conflict had disrupted the entire production chain, increasing the cost of polyester yarn and packing materials.
Nitin Jindal, a mink blanket exporter, said most exports from Panipat are destined for Middle-Eastern markets including Iran, Iraq, Yemen, Jordan and Syria.
“More than 150 containers have been stuck in the sea while over 400 containers have been stuck at various ports. Buyers are cancelling orders, old orders have gone on hold and payments have been stuck due to the war,” he said.
He added that freight charges had risen three to four times compared to earlier rates, while raw material, chemicals and gas costs had also increased, pushing up production expenses.
Lalit Goel, president of the Panipat Exporters Association and chairman of the Handloom Export Promotion Council, said uncertainty across the Middle-East had reduced demand.
“Uncertainty has spread across Middle-East countries due to the war and demand has declined. Export orders already shipped are stuck in the sea,” he said.
Goel added that ships were taking longer alternate routes, increasing freight costs and further affecting exporters.
