♦ The Government approved a new intervention titled RELIEF (Resilience & Logistics Intervention for Export Facilitation) under the Export Promotion Mission (EPM) to support Indian exporters facing disruptions due to the evolving geopolitical situation in West Asia. The move comes amid heightened security concerns around the Strait of Hormuz, which have led to vessel diversions, longer shipping routes, congestion at transshipment hubs, and increased freight and insurance costs.

♦ Under the RELIEF framework, Export Credit Guarantee Corporation of India has been designated as the nodal implementing agency responsible for verification, claim processing, disbursement, and monitoring.

♦ The scheme will cover shipments destined for countries including United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Iraq, Iran, Israel and Yemen.

The scheme comprises three key components:

1. Enhanced insurance coverage: Exporters with existing ECGC insurance will receive up to 100% risk coverage for eligible consignments shipped between February 14 and March 15, 2026, without additional cost.

2. Support for upcoming shipments: Exporters planning shipments between March 16 and June 15, 2026, can avail up to 95% risk coverage with government support, helping sustain trade flows.

3. Relief for MSMEs: Small exporters without ECGC cover during the disruption period will be eligible for partial reimbursement of up to 50% of increased freight and insurance costs, subject to a ceiling of ₹50 lakh per exporter.