NEW DELHI: Amid the escalating tensions in the West Asia region, the Indian govt has set up an inter-ministerial group that's monitoring the situation particulary to assess any hurdles in India's trade and shipping.
"We have set up an inter-ministerial group that meets on a daily basis and is closely monitoring the developments in West Asia to assess any vulnerabilities -- in our shipping, logistics, export or even critical imports, and we will coordinate with inter-ministerial actions," said the union commerce minister
Piyush Goyal, while addressing a post-Budget webinar, as quoted by PTI.
He gave further details on the operations of the 'group' on X, saying, "the 'Inter-Ministerial Group (IMG) for Supply Chain Resilience' has been created, comprising members from Department of Financial Services, Ministry of External Affairs, Ministry of Shipping, Ports & Waterways, Ministry of Petroleum & Natural Gas and Central Board of Indirect Taxes & Customs, to facilitate effective coordination, monitoring and follow-up."
Further assuring stability he added, "Government under PM Narendra Modi ji's leadership remains firmly committed to enabling a stable and responsive trade environment for our traders and exporters, safeguarding their interests and ensuring seamless operations."
Goyal also gave out contact information: �� Helpline Contact: adg1-dgft@gov.in
☎️ DGFT HelpDesk Number: 1800-572-1550, 1800-111-550
The union minister also listed out few measures taken "to facilitate trade operations"
He revealed three mesaures as:
- Procedural flexibility in export-related authorisations
- Coordination with Customs & Port authorities to ensure smooth clearance
- Engagement with financial and insurance institutions to safeguard exporter interests
This comes as exporters reportedly expressed concerns that the escalating West Asian tension after joint attacks by the US and Israel on Iran may impact India's trade.
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