India News | I Am Told Rice Exports Are Impacted by Problems in Red Sea: Goyal
Get latest articles and stories on India at LatestLY. Commerce and Industry Minister Piyush Goyal on Thursday said rice exports have been impacted by the problems in the Red Sea, though a clear picture will emerge after the December exports data is known.
New Delhi, Dec 28 (PTI) Commerce and Industry Minister Piyush Goyal on Thursday said rice exports have been impacted by the problems in the Red Sea, though a clear picture will emerge after the December exports data is known.
The situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, has escalated due to recent attacks by Yemen-based Houthi militants.
On the impact of the Red Sea problem on India's exports, the minister said: "So far no immediate impact we have observed...One industry which has got affected I am told is rice exports, but more details will be known once we get this December (export) figures".
The strait, vital for 30 per cent of global container traffic, has seen increased tensions with various incidents in 2023, including attacks and military manoeuvres by regional and global powers.
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The Bab-el-Mandeb Strait, also known as the "Gate of Tears" in Arabic, is a crucial trade route that connects the Mediterranean Sea and the Indian Ocean via the Red Sea and the Suez Canal. It separates Africa from the Arabian Peninsula.
According to exporters, India's basmati rice shipments to countries like Egypt and European countries may get hit if the conflict in the Red Sea escalates.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)