Indian Government Implements Measures to Support Exporters Amid West Asia Tensions

New Delhi, March 16: In response to ongoing tensions in West Asia that are disrupting trade, the Indian government is working on measures to assist exporters. This information was shared by Commerce Secretary Rajesh Aggarwal on Monday.

Aggarwal stated that the announcement of these initiatives is expected by the end of this week.

He noted, “The ongoing tensions in the region could impact India’s exports, as well as imports from those countries.”

Logistical challenges are causing difficulties for traders. The movement of ships has been affected, and there are also issues with air cargo services.

He added, “There are significant logistical challenges affecting ship movements, and air cargo is facing some problems as well. If we look at exports from India to that region, they will be impacted, but imports from there will also be affected.”

Aggarwal mentioned that discussions are ongoing between both parties to mitigate the impact on trade.

To address the situation, the government has formed an inter-ministerial group under the Directorate General of Foreign Trade (DGFT). This group is closely monitoring the issues faced by exporters and working on solutions.

He explained that the group meets every morning at 10 AM to review the challenges faced by exporters sending goods to affected areas.

The aim is to gather feedback from traders and find quick resolutions to their problems.

The Commerce Secretary also indicated that India’s total exports could increase in the current fiscal year, but the situation in West Asia may prevent the country from achieving its full export potential.

He stated, “Total export figures may be better than last year, but without these disruptions, we could have performed even better.”

Aggarwal emphasized that the government will strive to increase exports to other countries’ markets to compensate for the decline in trade with West Asia.

He concluded, “We will try to make up for the reduced exports in that region by boosting exports to other markets.”