Govt extends RELIEF scheme for risk coverage of export shipments due to Gulf war
New Delhi, Oct 26
The Department of Commerce has extended the timelines under 'Component II of RELIEF', a time-bound intervention under the Export Promotion Mission, until March 31, 2027, to provide risk coverage to export shipments due to the continuing Middle East conflict, according to an official statement issued on Monday.
The extension has been undertaken in view of continued geopolitical disruptions in West Asia and their impact on maritime logistics across the Gulf and adjoining regions.
'Component II' of the initiative aims to encourage exporters to obtain Export Credit Guarantee Corporation of India (ECGC) cover for upcoming shipments to specified regions by providing 95 per cent risk coverage.
The benefit is available for standalone policies and whole turnover policies obtained on or after March 16, 2026. Under this component, the premium payable by eligible exporters is protected against increases beyond pre-disruption levels during the eligible period. The covered cargo categories include Full Container Load (FCL), Less than Container Load (LCL), and refrigerated (reefer) containers, excluding energy shipments.
Exporters seeking coverage under the RELIEF initiative are required to submit claims and supporting documents through the ECGC customer portal. Guidance on generating user IDs and passwords, completing exporter registration and submitting claims under the initiative is available through dedicated video tutorials on ECGC's official YouTube channel, said the statement.
Launched on March 19, 2026, RELIEF is a targeted intervention to support Indian exporters facing extraordinary freight cost escalation, higher insurance premium and war-related export risks arising from disruptions in the Gulf and the wider West Asian maritime corridor.
There have been reports of ships being hit in drone and missile attacks around the Strait of Hormuz. The war danger has also spread to the Red Sea area following the Houthi launching attacks in Yemen to take over vast swathes of territory along the coastal region.
The extension of RELIEF underscores the government's commitment to strengthening export resilience, sustaining trade flows and supporting Indian exporters amid continuing geopolitical and maritime logistics uncertainties, the statement added.
— IANS
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