Fresh export bookings put on hold

Govt calls meeting of players involved in export logistics

- MUKESH JAGOTA

THE WAR IN West Asia has sparked panic among exporters and trade logistics providers, as fresh bookings and loading have been put on hold and ships on a major sea route are suddenly stranded.

West Asia has major routes through which India's exports to the biggest markets of the United States and Europe pass. Together, these three regions account for 56% of India's merchandise exports. The fresh threat to established supply chains emerged as exporters hoped to step up shipments to the US, taking advantage of the replacement of the 50% country-specific US tariff on Indian goods with a 10% global baseline tariff.

"There are no freight carriers available to book the shipments. The ships that have not crossed the Red Sea are stuck and undecided whether to move or not," said Rajaraman DC, chief operating officer (COO) of STEER Engineering.