Mumbai - Escalation of tensions between Iran and Israel is likely to adversely impact India's export-import trade due to higher transport and insurance costs."The alternate shipping route through Cape of Good Hope is likely to impact the schedules for Indian exporters," Dushyant Mulani, Chairman, Federation of Freight Forwarders Associations in India (FFFAI) was quoted as saying recently while adding marine insurance costs may rise as well.

According to Mulani, shipping and air freight costs may rise. "We will come to know about the exact situation in the next few days," he said.Global shipping lines . . .