March 07, New Delhi: India's Minister of Trade and Commerce, Piyush Goyal, stated on Friday that the newly formed Inter-Ministerial Group has been in regular contact with exporters amid tensions in the Middle East that have disrupted trade and shipping routes.
Speaking to the media, the minister said that India is holding discussions with the Ministry of Shipping and companies in the sector to help free cargo that is stranded due to disruptions along key global trade routes.
He added that the government will explore measures to ease the burden on exporters, including addressing the high costs of insurance and cargo shipments.
Earlier this week, an Inter-Ministerial Group on Supply Chain Resilience was created to strengthen coordination and monitoring. The group includes representatives from the Department of Financial Services, the Ministry of External Affairs, the Ministry of Shipping, Ports and Waterways, the Ministry of Petroleum and Natural Gas, and the Central Board of Indirect Taxes and Customs.