RELIEF is aimed at supporting Indian exporters affected by extraordinary freight escalation, heightened insurance premia and war-related export risks arising from disruptions in the Gulf and wider West Asia maritime corridor.
About RELIEF
• Aim: Mitigate the immediate impact of logistics disruptions, protect exporter confidence, prevent order cancellations and safeguard employment in export-linked sectors.
• Nodal and Implementing Agency: ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India (Ministry of Commerce & Industry).
o ECGC was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk Insurance for exports.
• Components: The following three components cover consignments destined to countries in the West Asia region such as UAE, Saudi Arabia, Kuwait, Israel, Qatar, Oman, Bahrain, Iraq, Iran and Yemen, meant either for delivery or for transshipment:
o Upto 100% risk coverage to exporters who have already obtained ECGC credit insurance cover,
o Encouragement to exporters planning upcoming consignments during the next three months to obtain ECGC coverwith Government support for upto 95% risk coverage,
o Partial reimbursement (upto 50%) mechanism for eligible non-ECGC-insured MSME exporters.
About Export Promotion Mission• Vision: Provides a comprehensive, flexible, and digitally driven framework for export promotion. • Financial Outlay: Rs. 25,060 crores. • Timeline: Six years (FY 2025–26 to FY 2030–31). • Two sub-schemes: o Niryat Protsahan (Financial Support): Improving access to affordable trade finance for diversification into new markets. o Niryat Disha (Non-Financial Support): Enhancing the market readiness and competitiveness of exporters. • Implementing Agency: Directorate General of Foreign Trade. |
