Ukraine crisis: Indian exporters delay orders, worry over payment dues

Russia is India's 25th largest trading partner as of 2021-22, with total trade at $9.4 billion during the first three quarters of the current fiscal.

Amid the global tension over Russia’s threat to invade Ukraine, Indian exporters are treading cautiously while executing existing orders.They are also delaying the execution of fresh export orders with Russia, fearing delay in payments.

The looming uncertainty will affect the global economy, which is recovering from the pandemic, said industry experts.

“Exporters are already delaying the execution of fresh orders (in case the situation worsens) and the uncertainty will continue. However, if there is a delivery of a contract, it is being executed,” said Ajai Sahai, director-general (D-G) and chief executive officer (CEO), Federation of Indian Export Organisations (FIEO).

Russia is India’s 25th