Centre in a huddle to assess impact of Israel-Iran flare-up

Inter-ministerial meets, stakeholder talks take off

- RUCHIKA CHITRAVANSHI, SUBHAYAN CHAKRABORTY & SHREYA NANDI

Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed.

While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.

Commerce Secretary Sunil Barthwal told reporters at a press conference on Monday that the government is monitoring the situation and will take appropriate action or remedial measures.

"Whenever such conflicts occur, we start monitoring trade, conduct stakeholder consultation. Policy interventions will come when we understand what issues traders are facing," Barthwal said. He pointed out that the government has been dealing with regional conflicts over the last couple of years and has devised a strategy to diversify exports to different regions.

Two days after Iran's drone and missile attacks on Israel, finance ministry officials said they were taking stock of the situation and staying in touch with concerned ministries on the issue.