Exporters may get relief package

NEW DELHI: The Commerce Ministry is formulating measures to provide support to exporters to help them overcome the impact of the conflict in West Asia as it prioritizes the movement of perishable items, including by air.Exporters have also been asked to consider other markets to minimize the impact of the war on the region, which is a top destination for Indian goods worth $59 billion. “There will be some impact, which may show up in this month’s data. But exporters have been told to look at other markets and fill gaps wherever there is space,” a senior government official said.The government is also working with authorities in West Asia to see if cargo can be transshipped through other ports.While trade bodies typically request government support, officials said the Commerce Department was reviewing insurance support. “Consideration is currently under way…to provide insurance and support to exporters. We will try our best to do that. We are evaluating various options,” the official said. The conflict has caused shipping, air and insurance premiums to soar as oil and gas shipments are disrupted.An inter-ministerial team is closely monitoring developments and interacting with exporters on a daily basis. According to the measures already announced by the Customs authorities, Ministry of Shipping and DG Shipping.