MP News: West Asia Conflict Hits Petrochemical Industries; Small-scale Units Worst Affected; MPIDC Study Flags Impact
· Free Press Journal
Bhopal (Madhya Pradesh): Amid the ongoing conflict in West Asia, the Madhya Pradesh Industrial Development Corporation (MPIDC) has conducted a study to assess the status of industries.
The corporation collected data from industries across the state. The sector-wise analysis shows petrochemical-based industries are the harshly hit, followed by export-import units.
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The ongoing conflict in West Asia has disrupted imports of key inputs, including polymers. In comparison to large industries, small-scale industries are in serious trouble. An MPIDC officer who conducted the study told Free Press that the data show industries have been affected in one form or another across sectors.
Another senior MPIDC officer said the petrochemical industries have been affected to some extent by raw material shortages. Industries dependent on polymers have also been adversely affected, as the conflict has disrupted imports of key inputs, including polymers. Small-scale industries appear to be in a major crisis due to the conflict, while large industries are likely to sustain operations for a longer period. If the situation continues, the impact on industries is expected to grow further.
MP News: Middle East Conflict Hits Industries; Costs, Supply Disruptions Squeeze MarginsState GDP affected to some extent
Officials from the Planning, Economics and Statistics Department said the ongoing conflict has had some impact on the state s gross domestic product (GDP). However, the exact extent of the impact cannot be assessed immediately.
They said GDP data collection begins in February, while the figures are compiled in March. The process is still underway, and data continues to be gathered. A clearer assessment of the impact on the state s GDP is expected in May, once the complete data is analysed.