NEW DELHI, March 19 : Amid the ongoing conflict in the Middle East, the Indian government on Thursday launched a new scheme named Resilience and Logistics Intervention for Export Facilitation (RELIEF) aimed at supporting Indian exporters facing disruptions due to the ongoing crisis.
Commerce Secretary Rajesh Agrawal said the scheme forms part of the government’s broader Export Promotion Mission and is designed to stabilise export flows during a period of heightened geopolitical uncertainty.
Describing RELIEF as a targeted support package, Agrawal said it will primarily assist exporters, particularly micro, small and medium enterprises (MSMEs), grappling with operational challenges arising from shipping and logistics disruptions.
“The scheme will provide targeted support to exporters, especially MSMEs, who are facing operational challenges due to disruptions in shipping and logistics,” he said.
The scheme will focus on 17-18 export destinations that have been significantly impacted by the crisis in West Asia and the Gulf region. Its objective is to ensure continuity in exports despite ongoing challenges.
According to officials, RELIEF aims to offset the impact of rising freight costs and surging insurance premiums, which have escalated sharply amid the conflict.
The scheme will extend support to both insured exporters and non-ECGC-insured MSME exporters for a period of one month, along with assistance for future shipments for up to three months.
The financial outlay for the initiative will be drawn from the existing allocation under the Export Promotion Mission.
The government has also constituted an inter-ministerial group to address exporters’ concerns, as delays in shipments and disruptions in key trade routes continue to pose challenges.
The current situation follows last month’s joint attack by the United States and Israel on Iran, which has affected major shipping and air corridors in the region, leading to higher oil prices and increased logistics costs globally.
Meanwhile, Lav Agarwal, Director General of Foreign Trade, said the scheme will have an outlay of nearly Rs 500 crore and will serve as a focused, time-bound intervention.
The government-owned Export Credit Guarantee Corporation of India will act as the implementing agency for the RELIEF scheme.
He said the initiative is expected to help exporters navigate the ongoing disruptions and maintain the flow of goods during what the government termed as “extraordinary times. (UNI)
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