India Unveils Rs 497 Crore RELIEF Scheme To Shield Exports
The Indian government has launched the Resilience & Logistics Intervention for Export Facilitation scheme with an outlay of Rs 497 crore to provide credit insurance cover and support exporters facing disruptions due to escalating tensions in West Asia between Israel-Iran, US-Israel conflict impacting maritime logistics across Gulf region.
Key Points
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1India launched on March 19-20, 2026 (Thursday), the RELIEF - Resilience & Logistics Intervention for Export Facilitation package.
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2The scheme has an outlay of Rs. 497 crore to provide credit insurance cover and support exporters facing disruptions in West Asia due to conflicts involving Iran/US-Israel impacting Gulf logistics.
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3This targeted, time-limited intervention aims specifically at cushioning the impact on Indian exports threatened by rising freight costs and heightened maritime risks.
Developments
The Centre launched a Rs 497 crore relief package under ECGC's Export Promotion Mission on Thursday specifically targeting Indian exporters affected by rising freight costs in conflict-hit regions like Gulf countries. To monitor these disruptions daily and coordinate responses across multiple ministries, the government established an inter-ministerial group comprising departments such as Commerce, Petroleum & Natural Gas, Ports Shipping, External Affairs, RBI, CBIC, among others.
The Indian Ministry launched the ₹497 crore RESILIENCE & LOGISTICS INTERVENTION FOR EXPORT FACILIATION (RELIEF) scheme on March 19, offering credit insurance at pre-conflict rates to support exporters affected by stranded goods in West Asia. Concurrently officials confirmed that two container ships carrying over 20 Indian seafarers are currently navigating the Strait of Hormuz toward Oman and UAE ports due to regional tensions affecting trade routes.