|
The Department of Commerce extended the operational timelines for Component II of the Resilience & Logistics Intervention for Export Facilitation (RELIEF) initiative until March 31, 2027, according to an official notification.
The measure, implemented under the Export Promotion Mission (EPM), comes as prolonged geopolitical tensions in West Asia continue to destabilise key maritime trade channels across the Gulf and adjoining zones. The primary objective behind the extension of Component II remains the protection of Indian outbound consignments heading into vulnerable global waters. The Ministry of Commerce & Industry said, "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," it added. Under the operational guidelines, eligible trading entities receive insulation from sudden financial spikes on their underwriting charges. The ministry noted that, "Under this component, the premium payable by eligible exporters is protected against increases beyond pre-disruption levels during the eligible period." The scope of logistical backing encompasses diverse freight specifications navigating commercial sea routes. "The covered cargo categories include Full Container Load (FCL), Less than Container Load (LCL) and refrigerated (reefer) containers, excluding energy shipments," the ministry added. "Exporters seeking coverage under the RELIEF initiative are required to submit claims and supporting documents through the ECGC customer portal at www.ecgcltd.in." Technical assistance on user account creation and claim processing remains accessible through specific multimedia channels. "Guidance on generating user IDs and passwords, completing exporter registration and submitting claims under the initiative is available through dedicated video tutorials on ECGCs official YouTube channel, @ecgcltd7016," the ministry stated. The central government originally rolled out the RELIEF scheme on March 19, 2026, to address pressing trade frictions caused by external conflicts. "RELIEF is a targeted intervention to support Indian exporters facing extraordinary freight cost escalation, higher insurance premia and war-related export risks arising from disruptions in the Gulf and the wider West Asian maritime corridor," the ministry mentioned. The extension forms part of a wider administrative effort to shield outbound commerce from global transit volatility. "The extension of RELIEF underscores the Governments commitment to strengthening export resilience, sustaining trade flows and supporting Indian exporters amid continuing geopolitical and maritime logistics uncertainties, it added. (ANI)
|
