The union government has set up an ‘inter-ministerial group (IMG) for supply chain resilience’, to monitor the Middle East and ensure readiness of the India’s exim trade amid the emerging situation.

Commerce and industry minister Piyush Goyal on Tuesday said in a post on X, “Today, a consultation meeting was held with all stakeholder ministries, key logistics and trade facilitation partners to review the emerging geopolitical situation and its potential impact on India's exports and imports.”

“The Modi government's readiness to facilitate trade operations was reiterated through measures such as: procedural flexibility in export-related authorizations, coordination with customs and port authorities to ensure smooth clearance and engagement with financial and insurance institutions to safeguard exporter interests,” Goyal said in the tweet.  

 “In this context, the 'Inter-Ministerial Group (IMG) for Supply Chain Resilience' has been created, comprising members from Department of Financial Services, Ministry of External Affairs, Ministry of Shipping, Ports & Waterways, Ministry of Petroleum & Natural Gas and Central Board of Indirect Taxes & Customs, to facilitate effective coordination, monitoring and follow-up,” he added.  

“Government under PM @NarendraModi ji's leadership remains firmly committed to enabling a stable and responsive trade environment for our traders and exporters, safeguarding their interests and ensuring seamless operations,” Goyal said.

Shipping ministry monitoring maritime security

The ministry of ports, shipping and waterways is closely monitoring the evolving maritime security situation in the Persian Gulf and has strengthened precautionary measures to safeguard Indian-flagged vessels and Indian seafarers operating in the region, said a release from the ministry.

Union Minister for Ports and Shipping Sarbananda Sonowal chaired a review meeting on Tuesday to assess the prevailing security environment in the Persian Gulf and examine its implications for Indian maritime assets and personnel.

“We are closely monitoring the evolving situation and have activated all necessary precautionary, monitoring and coordination mechanisms to ensure the safety and welfare of our seafarers and the security of our maritime assets. We remain in constant touch with relevant national and international agencies and are prepared to respond swiftly to any emerging development,” said Sonowal.

During the meeting, the Director General of Shipping briefed the minister on the prevailing situation in the region and on current status of Indian Flag Ships and Indian seafarers in the region.