New Delhi, March 19 (NationPress) The government has launched a targeted scheme worth Rs 497 crore called RELIEF (Resilience and Logistics Intervention for Export Facilitation) under the Export Promotion Mission (EPM). This initiative aims to assist Indian exporters who are grappling with unprecedented freight increases, soaring insurance costs, and war-related export hazards due to disturbances in the Gulf and the broader West Asia maritime route.

This scheme is designed to offer aid throughout the export process, covering shipments already dispatched during the disruption phase as well as future exports intended for the impacted area.

ECGC Ltd (previously known as Export Credit Guarantee Corporation of India Ltd.), which is entirely owned by the Ministry of Commerce and Industry, will act as the key agency responsible for verification, claim processing, disbursement, and monitoring, as stated in an official announcement.

The RELIEF initiative comprises three interrelated components targeting shipments bound for countries in the region, including the United Arab Emirates, Saudi Arabia, Kuwait, Israel, Qatar, Oman, Bahrain, Iraq, Iran, and Yemen, either for delivery or transshipment.

“Firstly, exporters who have already secured ECGC credit insurance for qualifying shipments will receive up to 100 percent risk coverage, in addition to their existing ECGC protection, during the eligible timeframe (February 14, 2026, to March 15, 2026). This ensures enhanced safety without imposing additional financial burdens,” the ministry clarified.

Secondly, exporters planning future shipments over the next three months (from March 16, 2026, to June 15, 2026) will be encouraged to secure ECGC coverage with government assistance for up to 95 percent risk protection, above their current ECGC cover. This move is aimed at bolstering exporter confidence and facilitating uninterrupted shipment activities despite logistics challenges.

“Thirdly, acknowledging that some MSME exporters may not have utilized credit insurance during the period from February 14, 2026, to March 15, 2026, but are facing significant freight and insurance surcharge challenges, the RELIEF scheme provides a partial reimbursement option (up to 50 percent) for qualifying non-ECGC-insured MSME exporters,” the government noted.

This support will be granted under specific conditions, requiring documentary verification and adhering to established limits (up to Rs 50 lakh per exporter), and aims to offer timely assistance against conflict-induced logistics cost surges.

Additionally, ECGC will implement a dashboard-based monitoring system for real-time tracking of claims and fund utilization.

Importantly, the EPM Steering Committee will regularly assess the scheme's effectiveness in light of changing geopolitical circumstances and may suggest necessary adjustments, continuations, or discontinuations as required.