The government on Wednesday announced an export support package worth ₹497 crore to help businesses affected by the ongoing Iran conflict and shipping problems near the Strait of Hormuz.
Officials said the crisis has started to disturb trade between India and countries in the Middle East. Due to tensions in the region, ships are facing delays and uncertainty, making it difficult for exporters to send goods on time.
Commerce Secretary Rajesh Agrawal said the situation is already affecting the trade environment in India. He explained that many exporters are struggling because their shipments are getting delayed or are not reaching their destinations. There is also uncertainty about future exports, as the situation remains unstable.
The support package is aimed at helping exporters manage these challenges and reduce their losses. It is expected to provide financial assistance and ease some of the pressure faced by businesses that depend on trade with the Middle East.
Overall, the government is trying to support exporters during this difficult period, as global tensions and shipping disruptions continue to impact international trade.