Government sets up inter-ministerial panel to monitor and take action on Iran war trade impact

The government has created an Inter-Ministerial Group to “facilitate effective coordination, monitoring and follow-up” of the events unfolding in Iran and the region, and their impact on India’s exports and imports, Commerce Minister Piyush Goyal said on Tuesday (March 3, 2026).

“Today, a consultation meeting was held with all stakeholder Ministries, key logistics and trade facilitation partners to review the emerging geopolitical situation and its potential impact on India’s exports and imports,” Mr. Goyal said in a post on X.

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This would be the second such meeting the government has held in as many days. 

“In this context, the ‘Inter-Ministerial Group (IMG) for Supply Chain Resilience’ has been created, comprising members from Department of Financial Services, Ministry of External Affairs, Ministry of Shipping, Ports & Waterways, Ministry of Petroleum & Natural Gas and Central Board of Indirect Taxes & Customs, to facilitate effective coordination, monitoring and follow-up,” Mr. Goyal added.

The Commerce Minister further said that the government stood ready to facilitate trade operations through various measures, including providing procedural flexibility in export-related authorisations, coordination with Customs and port authorities to ensure smooth clearances, and engagement with financial and insurance institutions to safeguard exporter interests.