https://www.taxtmi.com/news?id=47180 The commerce ministry held consultations with shipping lines, exporters, container firms and departments to monitor the Iran-Israel conflict's effects on maritime trade, with a ship reporting system active for the Strait of Hormuz and close tracking of freight and insurance rates, while urging assessment of evolving risks and exploration of alternatives. The note highlights India's strategic exposure via the Strait of Hormuz and Red Sea/Bab el Mandeb routes, and warns that closures or disruptions could raise oil, shipping and insurance costs, transmit inflationary pressure, and complicate fiscal and currency management. en-us Fri, 20 Jun 2025 19:01:03 +0530 Fri, 20 Jun 2025 19:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=47180 The commerce ministry held consultations with shipping lines, exporters, container firms and departments to monitor the Iran-Israel conflict's effects on maritime trade, with a ship reporting system active for the Strait of Hormuz and close tracking of freight and insurance rates, while urging assessment of evolving risks and exploration of alternatives. The note highlights India's strategic exposure via the Strait of Hormuz and Red Sea/Bab el Mandeb routes, and warns that closures or disruptions could raise oil, shipping and insurance costs, transmit inflationary pressure, and complicate fiscal and currency management. News - Fri, 20 Jun 2025 19:01:03 +0530 https://www.taxtmi.com/news?id=47180