The Ministry of External Affairs said that it was working to sensitize Indian companies following recent US sanctions against several companies and individuals.
“Regarding the sanction of 19 Indian companies – we have seen these reports of US sanctions. India has a robust legal and regulatory framework on strategic trade and non-proliferation controls. We are also a member of three key multilateral non-proliferation export control regimes – the Vasinar Arrangement, the Australia Group and the Missile Technology Control Regime, and have been effectively implementing relevant UNSC sanctions and UNSC Resolution 1540 on non-proliferation. Our understanding is that the sanction, transactions and companies are not in violation of Indian laws. Nevertheless, in keeping with India’s established non-proliferation credentials, we are working with all the relevant Indian departments and agencies to sensitize Indian companies on applicable export control provisions and also inform them of new measures being implemented that could impact Indian companies in certain circumstances,” said MEA Spokesperson Randhir Jaiswal.
