The Indian government has launched the RELIEF scheme to support exporters facing significant disruptions and cost increases due to the logistics crisis in West Asia. This initiative, part of the Export Promotion Mission, aims to mitigate the impact of heightened security concerns, vessel diversions, and surcharges affecting trade routes. ECGC Ltd. will manage the scheme, offering risk coverage and financial assistance for both past and upcoming shipments, with a particular focus on supporting MSME exporters.
Government approves RELIEF (Resilience Logistics Intervention for Export Facilitation) - an intervention under Export Promotion Mission to support exporters amid West Asia logistics disruptions
Flexible EPM framework enables timely response to extraordinary freight, insurance and war-risk escalati
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RELIEF (Resilience & Logistics Intervention for Export Facilitation) is a government scheme designed to support Indian exporters affected by logistics disruptions and cost escalations in the West Asia maritime corridor.
It has been introduced in response to heightened security concerns, vessel diversions, longer sailing routes, and increased costs (freight, insurance, war-risk) impacting exports to or through the West Asia region.
ECGC Ltd. (formerly Export Credit Guarantee Corporation of India Ltd.) is the designated nodal and implementing agency responsible for verification, claim processing, disbursement, and monitoring of the scheme.
RELIEF offers up to 100% risk coverage for eligible past shipments and up to 95% risk coverage for prospective exports, along with a partial reimbursement (up to 50%) for eligible MSME exporters who haven't availed credit insurance but face increased costs.
The scheme covers consignments destined for countries in the region such as the United Arab Emirates, Saudi Arabia, Kuwait, Israel, Qatar, Oman, Bahrain, Iraq, Iran, and Yemen, whether for delivery or transshipment.
The RELIEF intervention will be implemented under the Export Promotion Mission with an approved financial outlay of Rs. 497 Crores.