It's exactly a month since Ukraine was attacked by Russia. And the Indian industry has been hurting.
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Crude has risen 20 percent since February 23 and 79 percent since year ago; coal has increased by 35 percent since February 23 and 373 percent since year ago.
The recent surge in energy complex have in turn triggered a rise in domestic steel and cement prices both of which use coal as a key raw material. This in turn has led companies to hike steel and cement prices by about 10 percent.
Real estate body CREDAI says cement and steel comprise 40 percent of construction and hence home costs are set to get 20 to 30 percent higher.
The government, after resisting so far, is now slowly passing on petrol, diesel and gas prices. Separately the flash lockdowns in Chinese cities like Shenzhen have clogged supply chains for key chemicals and spare parts.
So, how is Indian industry coping? Will we see production cutbacks due to non-availability of raw materials or uncertainty of demand? Are margins and hence profits under pressure? Is demand destruction already happening? Is inflation already hitting growth? To answer this CNBC-TV18 spoke to Anil Singhvi, Executive Chairman of Shree Digvijay Cement; Sandeep Runwal, Managing Director at Runwal, President of Naredco Maharashtra and RK Goyal, MD of Kalyani Steels.
Watch video for more.
