The blockage of the Suez Canal since March 23 is seriously hitting the global trade. This route is used for Indian exports and imports worth US$ 200 Bn to and from North America, South America and Europe. It includes petroleum goods, organic chemicals, iron & steel, automobile, machinery, textiles & carpets, handicrafts including furniture, leather goods, etc.
A Four-point plan has been chalked out by the Centre to deal with the situation arising from the blockage of the Suez Canal including advising ships to re-route via Cape of Good Hope.
The plan chalked out in a meeting convened by the Logistics Division, Department of Commerce, Government of India on Saturday include prioritisation of cargo, freight rates, advisory to ports, re-routing decisions.
It was noted in the meeting that over 200 vessels are waiting on the North and South sides of the Suez Canal and about 60 vessels are getting added to the queue on a daily basis.