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India unveils ₹497-cr RELIEF package to shield exporters from war disruptions
The Rs 497 crore RELIEF scheme offers exporters automatic export obligation extensions and MSME reimbursements to address disruptions from the West Asia conflict, officials said.
- On Thursday, India launched The RELIEF scheme with an outlay of Rs 497 crore to provide support to exporters facing shipping disruptions due to the ongoing West Asia conflict.
- Commerce Ministry Rajesh Agarwal announced the scheme to assist exporters exposed to 17-18 geographies impacted by the conflict; an inter-ministerial group meets daily to assess cargo movement.
- Managed by the Export Credit Guarantee Corporation, the scheme contains three components, providing automatic Export Obligation Extensions until August 31, 2026, and facilitating coverage for upcoming consignments from March 16 to June 15.
- The Component III shields MSMEs from surcharge shocks and partly reimburses extraordinary freight and insurance costs for one month, targeting MSME exporters without prior ECGC coverage.
- RELIEF supports shipments destined for the UAE, Saudi Arabia, Kuwait, Qatar, Oman, Bahrain, Iraq, Iran, Israel, and Yemen as the inter-ministerial group manages daily shipping delays.
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Rs 497 Crore Relief For Exporters Impacted By Middle East War Disruptions
India is continuing to coordinate with stakeholders to ensure uninterrupted energy supplies and the safety of its citizens in the Gulf region, Ministry of External Affairs spokesperson Randhir Jaiswal said.
·New Delhi, India
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India unveils ₹497-cr RELIEF package to shield exporters from war disruptions
India has launched a relief package worth ₹497 crore to support exporters affected by the US-Israel-Iran conflict, which has increased freight costs and insurance premiums. The initiative aims to ensure trade continuity and bolster exporter confidence.
·New Delhi, India
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RELIEF scheme to help exporters mitigate losses from logistics disruptions due to West Asia crisis
The government has announced a ₹497-crore insurance and logistics support package for exporters to help them deal with freight escalation, heightened insurance premia and war-related export risks arising from the West Asia crisis.
·New Delhi, India
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Coverage Details
Total News Sources16
Leaning Left3Leaning Right4Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 38%
12%
R 50%
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