Chennai: The government is worriedly concerned about the impact of the Russia-Ukraine crisis on India's foreign trade, particularly farm sector exports, said Union Finance Minister Nirmala Sitharaman on Monday.
Sitharaman said the government is closely following the growing situation in the Russia-Ukraine region and monitoring the impact of the conflict on the country's commerce in a post-budget interaction with business and industry leaders in Tamil Nadu.
"We are certainly concerned about what comes from there," the Finance Minister added, "but I am more concerned about what will happen to our exporters who are doing exceptionally well, particularly in the farm sector, in Ukraine and Russia." The government has already begun to assess the issue. But I will need to get a full review from all of the relevant departments before I can respond," she said.
Ukraine is a key supplier of sunflower oil seeds and fertilizers, the Finance Minister said, and a disruption in supply would have an impact on essential commodities such as edible oil. "But you can be guaranteed that we are quite possessed of the subject in its granular form," she continued, "since it will have an impact on the necessities that arrive."
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