India will decide policy step once impact of Iran-Israel conflict understood

2024-04-15 10:23:13

The Indian government will take a policy decision to mitigate any effect on its trade from the conflict between Iran and Israel following it has fully understood the impact, the country’s trade secretary said on Monday.

“Policy interventions will only come following we understand the issues traders are facing. Based on that exercise, whatever is needed definitely government will address that,” India’s Trade Secretary Sunil Barthwal told reporters.

India, the world’s third largest oil importer and consumer, imports a significant chunk of its petroleum purchases from the Middle East.

Oil prices slipped on Monday, with the market downplaying the risk of broader regional conflagration following Iran’s weekend attack on Israel.

India advised its citizens on Friday once morest travelling to Iran and Israel until further notice in view of the “prevailing situation in the region”.

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