These measures may be announced in areas such as insurance.The joint attack launched by the US and Israel last month on Iran has led to severe disruptions in the movement of ships and planes in West Asia. It has led to spike in oil prices, which has pushed sea, and air freight besides insurance premiums for exporters.
New Delhi: The commerce ministry is expected to announce certain support measures to help exporters deal with the West Asia crisis, Commerce Secretary Rajesh Agrawal said on Monday.
“Hopefully within this week…we will send you the detailed briefing on what are the steps we are taking in the Department of Commerce to support the exports during this troubled time, especially in the Middle East,” he told reporters here.
These measures may be announced in areas such as insurance.
The joint attack launched by the US and Israel last month on Iran has led to severe disruptions in the movement of ships and planes in West Asia. It has led to spike in oil prices, which has pushed sea, and air freight besides insurance premiums for exporters.
India’s exports to West Asia were USD 58.8 billion in 2024-25.
The exporting community from sectors such as dry fruits, and fruits and vegetables has stated that their shipments have been impacted due to the war.
An inter-ministerial group is keeping tabs on developments on a daily basis and interacting with exporters.
Several ministries and departments including shipping and Customs have come out with support measures for the trading community.
The Customs department has released norms for dealing with export cargo returning to Indian ports due to the closure of the Strait of Hormuz and disruptions in maritime routes amid the West Asia crisis.
“This is a collaborative exercise which will carry on because challenges will occur as we go along,” the secretary said.