Iran Crisis Drives Up Bottled Water Prices in India, Erasing Modi Tax Cut Gains

• The Iran crisis has made bottled water in India 11% more expensive due to surging plastic bottle and cap prices.
• This price hike negates the benefit of a lower water tax rate announced by PM Narendra Modi a few months ago.
• Rising oil prices, triggered by the Iran war, have increased polymer costs, a key material for plastic bottles.
• Bisleri, India's largest player, and Parle Agro's Bailley brand have both increased prices by around 11%.
• Packaging material costs have surged over 70% in the last fortnight, making price revisions unavoidable for companies.