Amid escalating tensions in West Asia and rising risks to India’s trade flows, the Centre has constituted a high-level Inter-Ministerial Group (IMG) on supply chain resilience, Commerce & Industry Minister, Mr Piyush Goyal, announced. The IMG brings together the Department of Financial Services, the Ministry of External Affairs, the Ministry of Ports, Shipping & Waterways, the Ministry of Petroleum & Natural Gas, and the Central Board of Indirect Taxes and Customs to coordinate response measures. A stakeholder consultation reviewed geopolitical developments and their potential impact on exports and imports. The government reiterated its commitment to maintaining a stable trade environment through procedural flexibility in export authorisations, close coordination with Customs and port authorities for faster clearances, and engagement with financial and insurance institutions to protect exporters. The IMG will oversee monitoring, coordination and follow-up actions to mitigate supply chain disruptions and ensure continuity in trade operations during the evolving crisis, according to a report.
Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!