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News: The Commerce and Industry Ministry launched ‘RELIEF’ Scheme to ease pressure on exporters facing trade disruption due to the ongoing war in West Asia.
About ‘RELIEF’ Scheme
- Resilience & Logistics Intervention for Export Facilitation (RELIEF) scheme is time-bound and targeted measure to support Indian exporters facing disruptions due to the evolving geopolitical situation in West Asia.
- It was initiated under the Export Promotion Mission (EPM).
- Nodal Ministry: Ministry of Commerce and Industry
- Financial outlay: Rs. 497 crore
- Aim: It aimed at mitigating the impact of rising logistics costs, higher insurance premiums, and war-related risks affecting export consignments moving to or through the Gulf region.
- Coverage: The scheme will cover shipments destined for countries including United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Iraq, Iran, Israel and Yemen.
- It covers full container, partial container and refrigerated cargo excluding back-to-town cargo cases.
- Nodal implementing agency: Under the RELIEF framework, Export Credit Guarantee Corporation of India has been designated as the nodal implementing agency.
- It will be responsible for verification, claim processing, disbursement, and monitoring.
- It will include automatic extension of export obligations, logistical support, and potential financial measures to manage shipping delays
- It will be implemented with a dashboard-based monitoring system to track claims and fund utilization in real time.
- Components: The scheme comprises three key components:
- Enhanced insurance coverage: Exporters with existing ECGC insurance will receive up to 100% risk coverage for eligible consignments shipped between February 14 and March 15, 2026, without additional cost.
- Support for upcoming shipments: Exporters planning shipments between March 16 and June 15, 2026, can avail up to 95% risk coverage with government support, helping sustain trade flows.
- Relief for MSMEs: Small exporters without ECGC cover during the disruption period will be eligible for partial reimbursement of up to 50% of increased freight and insurance costs, subject to a ceiling of ₹50 lakh per exporter.
- Review: The EPM Steering Committee will periodically review the scheme and make adjustments based on evolving geopolitical conditions.
