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Global geopolitical situation may have serious implications for trade — expert

It is noted that further aggravation of the current situation may have serious implications for global trade

NEW DELHI, May 13. /TASS/. The geopolitical situation in the world may have serious implications for global trade and affect the demand for goods in all countries, Director General and CEO of the Federation of Indian Export Organizations (FIEO) Dr Ajay Sahai told TASS.

According to his forecast, if the geopolitical situation in the world continues to be like this, a decline in demand for goods is expectable in countries around the world. "In the first quarter numbers, the demand slowdown may be visible in lifestyle products," the economist said.

Sahai noted that further aggravation of the current situation may have serious implications for global trade. "Besides geopolitical uncertainties, high inflation and high interest rates are also the major reasons for demand slowdown. Certain advanced economies may witness further slowdown," he emphasized.

Referring to the escalation in the Middle East, Sahai said exporters have already noticed its impact on trade volumes. "Certain exporters from engineering sector have stated that the demand for goods that are going to the UAE and then to Iran has come down. Jewelry demand may also come down," Sahai said.

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