Exporters likely to get relief package. india news
New Delhi: The Commerce Department is working on measures to provide assistance to exporters to help offset the impact of the Middle East conflict as it prioritizes shipments of perishable goods, including by air.Besides, exporters have been asked to look at other markets to mitigate the impact of the war in the region, which is a top destination for Indian goods with goods worth $59 billion. “There will be some impact, which may be visible in this month’s data. But exporters have been asked to focus on other markets and fill the gap wherever there is scope,” said a senior government official.The government is also working with authorities in West Asia to see if goods can be shipped through other ports.While trade bodies are petitioning for government aid, which they usually do, officials said insurance aid is something that is being examined by the Commerce Department. “Some idea is going on…insurance coverage and support for exporters. We will try to do that. We are evaluating the options,” the official said. Disruptions to the movement of oil and gas shipments as a result of the conflict have led to increases in ocean freight, air transportation, and insurance premiums.An inter-ministerial group is monitoring the developments on a daily basis and interacting with exporters. Based on inputs, measures have already been announced by Customs authorities, Shipping Ministry and DG Shipping.
