TATA AIG stresses political risk insurance needs

Rising costs hit Indian exporters amid global crises

TATA AIG General Insurance emphasised the need for proper political risk insurance amidst ongoing crises such as the Red Sea conflict and the Russia-Ukraine war, Indian exporters are facing increased costs and risks in international trade.

Indian government data showed a dip in the country’s trade performance for fiscal year 2023 to 2024, with merchandise exports contracting by 3.11% to $437.1b.

“Indian companies, despite a robust domestic market, are encountering uncertainties from geopolitical conflicts that hinder their efforts to expand internationally. These challenges are further compounded by a high global interest rate environment and rising energy prices, the company said.