PMO likely to review Red Sea conflict impact on trade and logistics

The Red Sea is vital for 30% of global container traffic and 12% of global trade

Top officials at the Prime Minister’s Office (PMO) are expected to review the developments related to the troubled Red Sea region and its impact on trade and logistics in the week, people aware of the matter said.

Senior commerce department officials are expected to meet those of the PMO on Monday regarding this, although any government support or incentive to help exporters deal with high freight and insurance costs is unlikely.

Earlier this week, Commerce Secretary Sunil Barthwal held hectic meetings with officials of his department and also chaired an inter-ministerial meeting, along with officials of the Ministries of Defence