Impact of Israel-Gaza conflict on auto industry negligible, says Siam

Israel is currently preparing its forces along its border with Gaza for a possible ground operation

The impact of Israel-Gaza conflict on the Indian auto industry till date has been negligible, Vinod Aggarwal, President, Society of Indian Automobile Manufacturers (SIAM), said on Monday.

“We have not seen any immediate impact (of the conflict on the auto industry). I think our dependence on Israel for trade is not that high. So, there is negligible impact,” he told reporters during a press conference.

When asked if there could be logistics-related issues due to the conflict, he added, “I think we have to wait and watch. If it escalates, there would be more concern. As of now, there is no concern.”

On October 8, Israel started a military conflict against Hamas, a day after numerous fighters breached the heavily-fortified border and carried out brutal attacks. It resulted in the deaths of over 1,400 people, with the majority being civilians.

India launched ‘Operation Ajay’ on October 12 to facilitate the return of its citizens following the brazen attack. Israel is currently amassing its forces on the border with Gaza to initiate a ground operation.