Govt Forms Special Inter-Ministerial Group to Monitor US-Iran War’s Impact on India’s Trade

Updated: March 04, 2026 00:45

Image Source: Times Of India

The Government of India has set up a special inter-ministerial group to assess the impact of the ongoing US-Iran conflict on India’s trade. Chaired by Commerce Minister Piyush Goyal, the panel will meet daily to monitor supply chains, shipping routes, and export-import flows, ensuring resilience amid escalating geopolitical tensions.

India has taken proactive steps to safeguard its trade interests amid the escalating US-Iran war, which has raised concerns over disrupted shipping routes and global supply chains. The Ministry of Commerce and Industry has formed a special inter-ministerial group to closely monitor developments in West Asia and their potential impact on India’s exports and imports.

Commerce Minister Piyush Goyal confirmed that the group includes representatives from the Ministry of External Affairs, Ministry of Shipping, Ports and Waterways, Ministry of Petroleum and Natural Gas, Department of Financial Services, and the Central Board of Indirect Taxes and Customs. The panel will meet daily to review the situation and coordinate measures to ensure supply chain resilience.

Exporters have expressed apprehensions about rising freight costs, delays in shipments, and possible disruptions in crude oil imports. The government has assured procedural flexibility, faster customs clearances, and logistical support to minimize trade disruptions.

Major Takeaways

Government sets up special inter-ministerial group to monitor US-Iran war’s impact on India’s trade
Panel chaired by Commerce Minister Piyush Goyal with daily meetings scheduled
Members include MEA, Shipping, Petroleum, Financial Services, and Customs departments
Focus on safeguarding exports, imports, and shipping routes amid Middle East crisis
Exporters raise concerns over freight costs, crude oil imports, and supply chain delays
Government assures faster customs clearances and logistical support for businesses

Conclusion

The formation of the inter-ministerial group reflects India’s proactive approach to managing global trade risks amid geopolitical uncertainty. By ensuring daily monitoring and coordinated action, the government aims to protect exporters, stabilize imports, and maintain supply chain resilience, reinforcing India’s preparedness in navigating international crises.

Sources: The Financial Express, The Hindu, NDTV Profit, The Statesman, ET Now

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