India is engaged in diplomatic negotiations with Iran on the attacks on ships in the Red Sea by the Tehran-backed Houthi movement, an Indian government source said on Wednesday.

India's foreign minister was in Iran this week to hold talks with his counterpart and said on Monday the discussions touched on the Red Sea situation, where the attacks have disrupted shipping on the global trade route.

The source, who requested anonymity, said the finance ministry's banking division would also make it easier for exporters affected by the disruption to get credit. (Reporting by Shivangi Acharya; Writing by Shivam Patel; Editing by Andrew Heavens)