Exporters likely to get relief package | India News
New Delhi: The Commerce Department is working on measures to provide support to exporters to overcome the impact of the West Asian conflict as it prioritizes shipments of perishable goods, including by air.Also, exporters have been asked to look at other markets to minimize the impact of the war in a region that is the top destination for Indian goods with $59 billion worth of goods. “There will be some impact, which may be visible in this month’s data. But exporters are asked to fill the gap by looking at other markets, where there are opportunities,” said a senior government official.The government is also working with authorities in West Asia to see if goods can be routed through other ports.While businesses are applying for government assistance, something they usually do, officials said the insurance assistance is something the Commerce Department is examining. “Some thoughts are on…insurance coverage and support for exporters. We will try to do that. We are evaluating options,” the official said. As a result of the conflict, disruptions in oil and gas shipments have increased ocean freight, air freight and insurance premiums.An inter-ministerial group is monitoring the developments on a daily basis and communicating with the exporters. Customs authorities, Ministry of Shipping and DG Shipping have already announced measures based on inputs.
