The Government of India has announced a ₹497-crore support package to assist exporters impacted by rising freight costs, higher insurance premiums, and war-related risks linked to the ongoing tensions in West Asia. The scheme, titled Resilience & Logistics Intervention for Export Facilitation (RELIEF), will be funded under the existing Export Promotion Mission allocation, with safeguards for verification and implementation, according to the Commerce Department. Rajesh Agrawal said the scheme is designed to offer end-to-end support across the export cycle, covering both shipments already dispatched during the disruption and those planned for affected markets. The intervention targets consignments bound for key West Asian destinations, including the United Arab Emirates, Saudi Arabia, Kuwait, Israel, Qatar, Oman, Bahrain, Iraq, Iran, and Yemen, including both direct shipments and trans-shipment routes. Lav Agarwal, Director General of Foreign Trade, highlighted that trade through this region accounts for nearly $178 billion, including about $56 billion with GCC countries, representing around 15% of India’s global trade. Industry experts noted that the government’s response is evolving beyond immediate relief. Balasundaram R, Head of Marine Insurance at Policybazaar for Business, said the initiative reflects a broader strategy to support exporters through logistical and financial challenges.
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