The Commerce Ministry has asked the Department Of Financial Services (DFS) under the Ministry of Finance to maintain credit flow to exporters amid disruptions in the Red Sea route that could potentially impact over 80 per cent of the exports going to Europe, a senior government official said after an inter-ministerial meeting on Wednesday.
The high level inter-ministerial meeting was chaired by Union Commerce Secretary Sunil Barthwal and saw officials from Ministry of External Affairs, Defence, Shipping and DFS. This meeting comes after External Affairs Minister S Jaishankar started his two day visit on Sunday after the United States (US) and the United Kingdom (UK) launched military strikes in Yemen in response to Houthi rebel attacks on shipping in the Red Sea.
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