India to offer insurance support to exporters amid West Asia crisis
The government is looking to help Indian exporters struggling due to the ongoing West Asia crisis, especially with shipping routes like the Strait of Hormuz facing disruptions.
Commerce Minister Piyush Goyal said talks are on with the Export Credit Guarantee Corporation (ECGC) to offer insurance support.
An inter-ministerial group is monitoring developments, while the Customs department has issued norms to handle export cargo returning to Indian ports.
India won't lower tariffs on key farm imports
To ease rising freight and insurance costs, new strategies are in the works.
Goyal also highlighted efforts to grow exports, especially to Europe, and strengthen trade ties with countries like those in EFTA, Canada, and the GCC.
At the same time, he assured that India won't lower tariffs on key farm imports or genetically modified foods, keeping local agriculture protected during trade talks.