India moves to protect $57 billion exports amid Gulf conflict
India is moving quickly to protect its exports, like gems, jewelry, rice, and medicines, as the ongoing Gulf conflict shakes up trade.
These sectors are big business, making up $57 billion in exports in 2024-25.
Director General of Foreign Trade Lav Aggarwal shared that the government is teaming up with insurers and banks to sort out war risk insurance and keep trade finance running smoothly.
Government special group held 20 meetings
The Commerce Ministry is staying in close touch with exporters to help solve issues as they pop up.
With India-Gulf trade reaching $178 billion in 2024-25, disruptions like higher shipping costs and delays are hitting products from petroleum to engineering goods.
The government has even set up a special group that has already held 20 meetings since March to keep goods, especially perishables, moving despite all the chaos.