Indian Government Implements Strategies to Aid Exporters Amid West Asia Tensions
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New Delhi, March 16 (NationPress) The Indian government is actively formulating a range of strategies to assist exporters who are experiencing trade disruptions with West Asia, stated Commerce Secretary Rajesh Agrawal on Monday.
He indicated that the specifics of these measures are expected to be revealed later this week.
“The current tensions in the region could have repercussions on India's export activities. Additionally, imports from these markets may also face interruptions,” Agrawal remarked.
He elaborated that logistical hurdles are posing significant challenges for traders. The movement of vessels has been hindered, and air freight operations are also encountering difficulties.
“There are logistical issues, particularly concerning maritime transport, while air freight is also facing certain challenges. If we analyze Indian exports to the region, they will be negatively impacted, as will imports,” he noted.
Agrawal mentioned that discussions are ongoing to identify solutions that could mitigate the effects of these disruptions.
To address the situation, the government has established an inter-ministerial task force under the Directorate General of Foreign Trade.
This team is diligently monitoring the circumstances and tackling the concerns raised by exporters.
Agrawal indicated that the group convenes daily at 10 a.m. to assess the challenges faced by exporters shipping goods to the impacted region.
“The goal is to collect feedback and discover swift solutions to alleviate the difficulties faced by businesses,” he emphasized.
He also mentioned that while India's exports may continue to grow in the current fiscal year, the disruptions could hinder the country from maximizing its export capacity.
“In terms of overall export figures, there will be some effect on potential exports. While my numbers may exceed last year's, I believe we could have performed even better,” he added.
Agrawal stated that the government aims to boost exports to alternative markets to compensate for the losses incurred from the disruptions in West Asia.
“Any exports we lose from that region will be targeted for recovery through increased exports to other markets,” he concluded.