US decision to end Iran oil waiver to hit Indian exports: TPCI

NEW DELHI: India’s exports will suffer due to the anticipated rise of 3 to 5 per cent in crude oil prices following the US decision to end waiver that allowed the country to buy Iranian oil without facing sanctions, the Trade Promotion Council of India said on Tuesday. “Exports sector is bound to be hit as oil is intermediate product in all kinds of production and services,” the Trade Promotion Council of India (TPCI) chairman Mohit Singla said.