India's commerce secretary holds meeting on Iran-Israel conflict's trade fallout: Sources

New Delhi [India], June 20 (ANI): According to the Commerce Ministry sources, the Commerce Secretary held a meeting with stakeholders from shipping and air-cargo sectors to discuss the impact of the Iran-Israel conflict on India's trade and he actions needed to normalize it.
During the meeting, the participants informed that the situation in the Strait of Hormuz is currently stable.
Additionally, country's ship reporting system is in place to monitor any incidents. The freight and insurance rates are also being closely monitored, the source revealed.
Furthermore, the Commerce Secretary also emphasized the need to assess the evolving situation and its impact on Indian EXIM trade. He highlighted the importance of exploring all possible alternatives in response to the situation.
Recently, the Israeli Defence Forces shared that on Thursday night it targeted the missiles manufacturing sites in Iran by using approximately 120 munitions.
The conflict between Iran and Israel started after the latter launched a series of strikes against military and nuclear infrastructure in Iran under 'Operation Rising Lion' on June 13. Iran responded with retaliatory strikes and launched 'Operation True Promise III'.
Since the military attacks started almost a week ago, the UN nuclear watchdog has been reporting damage at several of these facilities, including at nuclear-related sites located in Natanz, Arak, Esfahan and Tehran, and their potential radiological effect, according to the statement released by the IAEA.
Furthermore, amid these rising threats and regional attacks, US President Donald Trump has said he will allow two weeks for diplomatic efforts with Tehran before deciding whether to authorize military action against Iran.
Meanwhile, thee Israeli Defence Forces said that on Thursday night it targeted the missiles manufacturing sites in Iran by using approximately 120 munitions.The details were provided in a post on X.
The IDF said, that over 60 fighter jets "struck dozens of military targets in Iran using approximately 120 munitions."
"Several industrial sites used to manufacture missiles were struck in the Tehran area. These sites served as a key industrial center for the Iranian Ministry of Defence. The SPND headquarters in Tehran were struck. This building was used for the development of advanced technologies and weapons supporting the Iranian regime's military capabilities."
The IDF also noted that 4 UAVs launched from Iran were intercepted and shared a video clip. Citing Israeli military, Times of Israel reported, "SPND serves as a hub for research and development of advanced technologies and weaponry for the Iranian regime's military capabilities. It was established in 2011 by Mohsen Fakhrizadeh, the founder of Iran's nuclear weapons program".
It also mentioned citing IDF that a site that was struck had been used to manufacture a "component essential to the regime's nuclear weapons program". (ANI)