Iran War Impact: Homes to become more expensive due to the heat of war, prices of glass and tiles surge due to gas crisis, construction costs to rise... Plastic granule prices more than doubled.... Furniture rates to see a surge.
Iran War Impact: The side effects of the Iran war are being seen worldwide, including in India. Industries are being significantly impacted, with a gas shortage affecting many sectors. The construction industry will be most affected, as glass prices are rising and tile rates are also soaring. Several tile factories in Madhya Pradesh have shut down.
The industry is reeling from the side effects of the war (Iran War Impact), and the impact of inflation will be clearly visible in the coming days. According to the Association of Industries Madhya Pradesh (AIMP), the gas shortage and petrochemical scarcity are affecting industries. Experts state that gas is extensively used in glass manufacturing. Due to the gas shortage, it has to be purchased on the black market, leading to increased glass prices. Glass is an essential component in home construction.
Tiles are sourced from Morbi, but factories there have closed down, and many are on the verge of shutting. In Indore and surrounding districts, all supplies come from Morbi. Reduced production will lead to increased tile prices, making home construction more expensive. People will have to opt for marble and granite, which are already costly.
Copper metal and PVC are also becoming more expensive, impacting cable prices. Yogesh Mehta, President of AIMP, stated that the rate for a cable bundle, which was previously available for ₹500, has now increased to ₹2500-3000.
The chemical industry operates on an ammonia base, which is derived from gas and has direct ties to Gulf countries. Soda ash and caustic soda are becoming expensive, which will affect household items like detergents, soaps, and dishwashing powders.
Plastic granules, used in petrochemical products, which were previously priced at ₹80 per kg, have now reached ₹170 per kg. This is leading to increased prices for footwear. Furniture made from plastic will also become more expensive.