India: Commerce ministry convenes stakeholder consultation to ensure trade continuity amid West Asia tensions
New Delhi [India], March 2 (ANI): The Department of Commerce, Ministry of Commerce and Industry, held a stakeholder consultation with all stakeholder ministries, key logistics and trade facilitation partners to review the emerging geo-political situation in West Asia and its potential impact on India's export-import cargo flows, including the export ecosystem.
According to the Ministry of Commerce & Industry, the meeting was chaired by Special Secretary, Department of Commerce, Suchindra Misra and Lav Agarwal, Director General of Foreign Trade (DGFT).
The meeting was attended by representatives from logistics operators and shipping lines/forwarders, Central Board of Indirect Taxes and Customs, Department of Financial Services, Ministry of Petroleum and Natural Gas, Ministry of Ports, Shipping and Waterways, the Reserve Bank of India, export promotion ecosystem and other concerned agencies.
Stakeholders presented an assessment of the evolving operational environment, including routing and transit-time changes, vessel scheduling adjustments, container/equipment availability, freight and insurance cost trends, and implications for time-sensitive exports.
"The discussions covered the need to maintain predictability in cargo movement, minimise avoidable delays, and ensure seamless documentation and payment processes for exporters and importers," the Commerce Ministry said in a statement.
The Department reiterated the Government of India's priority of ensuring continuity of export-import logistics and mitigating any disruptions to India's trade flows.
"It was emphasised that the approach will remain facilitative and coordinated, with a focus on maintaining supply chain resilience, protecting the interests of exporters--particularly MSMEs--with a view that essential imports required for domestic production and consumption are not adversely affected," the Commerce Ministry said.
During the meeting, it was agreed amongst the stakeholders to maintain close, real-time coordination for monitoring route and capacity developments, surcharges, and equipment availability.
Mechanisms for facilitation of time-sensitive export segments such as perishables, pharmaceuticals, and high-value manufactured exports were also discussed. The meeting emphasised strengthening facilitation at ports/ICDs and ensuring smooth cargo evacuation to avoid congestion and extended dwell times.
The Government reiterated its readiness to facilitate trade operations, including procedural flexibility in export-related authorisations in cases of genuine disruption; coordination with Customs authorities to ensure smooth clearance; engagement with financial and insurance institutions to support exporter interests; and continued inter-ministerial coordination.
The Department reaffirmed that it will continue to engage closely with all stakeholders and relevant Ministries/Departments to ensure that India's trade continues to move efficiently and that any emerging issues are addressed in a timely manner.
"India has successfully navigated multiple global disruptions in recent years and continues to strengthen supply chain resilience. The Government remains committed to ensuring that India remains a stable and reliable trading partner," the Ministry statement concluded. (ANI)
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