Srinagar, March 8, KNT: Kashmir Chamber of Commerce and Industry (KCCI) General Secretary Faiz Bakshi on Saturday said the ongoing conflict between Iran and Israel could have serious implications for India’s economy and growth prospects.
Bakshi while talking to reporters in Srinagar said the war has already triggered a sharp surge in global oil prices, which could directly affect India as the country remains heavily dependent on imported crude oil.
He said the situation has created uncertainty in global energy markets, particularly due to rising tensions around the Strait of Hormuz, one of the world’s most important oil transit routes.
According to energy data, India imports nearly 90 percent of its crude oil requirements, making the country vulnerable to global supply disruptions and price shocks.
Bakshi said any escalation in the conflict could disrupt oil shipments passing through the Strait of Hormuz, a narrow waterway linking the Persian Gulf with global markets.
Experts say around 35–50 percent of India’s crude oil imports pass through the Strait of Hormuz, making it a critical energy lifeline for the country.
“If tensions escalate and shipping through this route is affected, India could face serious challenges in securing oil and gas supplies,” Bakshi said.
He added that rising crude prices could lead to higher fuel costs, increased inflation and pressure on economic growth.
Recent global developments have already pushed oil prices above $90 per barrel, raising concerns about inflation and economic stability worldwide.
Bakshi said higher oil prices would also increase India’s import bill and could weaken the rupee, affecting trade and domestic markets.
The KCCI leader warned that sectors dependent on fuel and transportation could face additional pressure if the conflict continues for a prolonged period.
He stressed that the situation requires close monitoring as prolonged instability in West Asia could have ripple effects across India’s economy, particularly through energy supply chains and rising commodity prices. [KNT]
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![PCC Asks DC Pulwama to Shut Down Illegal Brick Kilns, 18 Brick Kilns Face Regulatory Violations, 7 Listed Without Consent Pulwama, Aug 8, KNT: Pollution Control Committee has asked Deputy Commissioner to shut down illegal brick kilns in South Kashmir's Pulwama district. The latest status of brick kilns operating in south Kashmir's Pulwama district has revealed serious regulatory concerns, with 18 units listed either without consent, with expired Consent to Operate (CTO), or under a “Refused” status. The status details show that seven brick kilns are listed as operating “Without consent”, indicating that the units do not have the required regulatory consent to operate. The seven units are Dar Brick Kiln (415) at Alliepora Shahoora, LBK changed into Bhat Brick Kiln (151) at Nownagri Pulwama, Kamran Brick Kiln 777 at Parigam Newa, Budshah Brick Kiln at Audoora Pulwama, JKB Sanzan (151) at Astapora Sanzan, 417 Brick Kiln changed into 7HH at Achan Litter Pulwama, and Five Star Brick Kiln at Wahipora Pulwama. The list further shows eight brick kilns with expired CTOs, meaning their consent to operate has lapsed. These include Hilal Brick Kiln, Allie Brick Kiln, Bashir Ahmad Magray, Sunflower Brick Kiln, Jalal Brick Kiln, Magray Brick Kiln, Thoker Brick Kiln (A-No) and Shahoorа Brick Kiln (ATM). Another three units have been marked “Refused” in the consent status. These are Mir Brick Kiln at Hastikhud Zadoora Newa, Gulmour Brick Kiln at Tumchinowpora and Dar Brick Kiln at Tumchinowpora. The status as per the news agency Kashmir News Trust also contains brick kilns holding valid CTOs, indicating that the regulatory violations are not uniform across the district. The findings assume significance in view of the Jammu & Kashmir Pollution Control Committee's direction to the Deputy Commissioner, Pulwama, to initiate action against brick kilns operating without the requisite permissions and in violation of environmental regulations. The presence of multiple units with expired or refused consent, besides those listed without consent altogether, raises serious questions over their continued operation and the effectiveness of regulatory enforcement in the district. The concerned authorities are now expected to verify the operational status of these units and take action against those found functioning without valid statutory consent. [KNT]](https://newsagencyknt.com/wp-content/uploads/2026/06/Brick-Kiln-390x220.jpg)
