Country’s ship reporting system is in place to monitor any incidents. The freight and insurance rates are also being closely monitored
New Delhi: According to the Commerce Ministry sources, the Commerce Secretary held a meeting with stakeholders from shipping and air-cargo sectors to discuss the impact of the Iran-Israel conflict on India’s trade and he actions needed to normalize it, reported ANI.
During the meeting, the participants informed that the situation in the Strait of Hormuz is currently stable.
Additionally, country’s ship reporting system is in place to monitor any incidents. The freight and insurance rates are also being closely monitored, the source revealed.
Furthermore, the Commerce Secretary also emphasized the need to assess the evolving situation and its impact on Indian EXIM trade. He highlighted the importance of exploring all possible alternatives in response to the situation.