Government Approves RELIEF Scheme to Support Exporters
ECONOMY & POLICY

Government Approves RELIEF Scheme to Support Exporters

The Government has approved RELIEF, Resilience and Logistics Intervention for Export Facilitation, as a time?bound measure under the Export Promotion Mission (EPM) to support exporters affected by disruptions in the West Asia maritime corridor. The intervention targets extraordinary freight escalation, higher insurance premia and war?related export risks linked to recent security developments that have caused vessel diversions and longer sailing routes. The measure aims to sustain shipments and reduce uncertainty for consignments destined to or transiting through the region.

An Inter?Ministerial Group on Supply Chain Resilience was operationalised on 2 March 2026 and began daily reviews from 3 March 2026 to coordinate a whole?of?government response. Based on IMG deliberations, procedural relaxations for stranded cargo, enhanced port coordination and waivers of storage and dwell time charges were implemented, while advisories sought to improve transparency in shipping line pricing. Monitoring of insurance risk developments and inland logistics was strengthened to inform targeted relief design.

Export Credit Guarantee Corporation of India Ltd. (ECGC) has been designated as the nodal implementing agency to verify claims, process disbursements and monitor utilisation. RELIEF covers eligible past shipments and prospective exports through three complementary components. Consignments covered by ECGC during 14 February 2026 till 15 March 2026 will receive up to 100 per cent additional risk coverage. Exporters planning consignments between 16 March 2026 and 15 June 2026 will be supported to obtain ECGC cover for up to 95 per cent risk coverage.

Recognising that some Micro, Small and Medium Enterprises (MSME) lack credit insurance, RELIEF provides partial reimbursement of up to 50 per cent for eligible non?ECGC?insured MSME exporters subject to conditions and verification, with a ceiling of Rs. 5 mn per exporter. The intervention will be funded under EPM with an approved financial outlay of Rs. 4,970 million (mn), and ECGC will maintain a dashboard?based system to track claims and fund utilisation. The EPM Steering Committee will periodically review the measure to protect exporter confidence and safeguard employment in export?linked sectors.

The Government has approved RELIEF, Resilience and Logistics Intervention for Export Facilitation, as a time?bound measure under the Export Promotion Mission (EPM) to support exporters affected by disruptions in the West Asia maritime corridor. The intervention targets extraordinary freight escalation, higher insurance premia and war?related export risks linked to recent security developments that have caused vessel diversions and longer sailing routes. The measure aims to sustain shipments and reduce uncertainty for consignments destined to or transiting through the region. An Inter?Ministerial Group on Supply Chain Resilience was operationalised on 2 March 2026 and began daily reviews from 3 March 2026 to coordinate a whole?of?government response. Based on IMG deliberations, procedural relaxations for stranded cargo, enhanced port coordination and waivers of storage and dwell time charges were implemented, while advisories sought to improve transparency in shipping line pricing. Monitoring of insurance risk developments and inland logistics was strengthened to inform targeted relief design. Export Credit Guarantee Corporation of India Ltd. (ECGC) has been designated as the nodal implementing agency to verify claims, process disbursements and monitor utilisation. RELIEF covers eligible past shipments and prospective exports through three complementary components. Consignments covered by ECGC during 14 February 2026 till 15 March 2026 will receive up to 100 per cent additional risk coverage. Exporters planning consignments between 16 March 2026 and 15 June 2026 will be supported to obtain ECGC cover for up to 95 per cent risk coverage. Recognising that some Micro, Small and Medium Enterprises (MSME) lack credit insurance, RELIEF provides partial reimbursement of up to 50 per cent for eligible non?ECGC?insured MSME exporters subject to conditions and verification, with a ceiling of Rs. 5 mn per exporter. The intervention will be funded under EPM with an approved financial outlay of Rs. 4,970 million (mn), and ECGC will maintain a dashboard?based system to track claims and fund utilisation. The EPM Steering Committee will periodically review the measure to protect exporter confidence and safeguard employment in export?linked sectors.

Next Story
Real Estate

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

Next Story
Infrastructure Energy

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Next Story
Infrastructure Urban

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement