Commerce Secretary convenes meeting on Red Sea situation

Commerce Secretary Sunil Barthwal convened a meeting of senior officials on Thursday to take stock of the effect of the continued attacks on cargo ships in the  Red Sea by the Houthis on the country’s exports.

“As the attacks by the Houthis continue the uncertainty for exporters shipping their goods through the Red Sea, including of basmati rice, to Europe and parts of Asia and Africa is increasing. The Commerce Secretary held a meeting to take stock of the situation,” a person tracking the matter told businessline.

An estimated $225-230 billion of India’s exports — to the EU, the East Coast of US, African countries such as Egypt, Eritrea and Djibouti, and some Middle East countries — could be at risk if the situation in the Red Sea does not get contained.

The Iran-backed rebel group Houthi started attacking cargo in the Red Sea after the start of the Israel-Hamas war in October to declare their support for Hamas.

COMMENT NOW