War puts $1.5 b contracts for India in jeopardy

  • 22/03/2003

  • Hindu (New Delhi)

The U.S. war on Iraq has jeopardised India's trade contracts worth $1.5 billion, which were facilitated under the United Nation's 'Oil for Food Programme' for Iraq. Goods worth about Rs 1,000 crores are under shipment as part of the programme and Indian exporters are unsure of the fate of these assignments, the FICCI secretary-general, Amit Mitra, has said. The military action in Iraq by the U.S. and Britain has halted the Oil for Food Programme and the U.N. Secretary-General Kofi Annan, is expected to work out alternatives over the weekend.