India Unveils RELIEF Scheme to Support Exporters Amid West Asia Crisis

The Indian government has introduced the Resilience & Logistic Intervention for Export promotion (RELIEF) scheme in response to the ongoing geopolitical tensions in West Asia, which have significantly affected the country's export sector. The initiative focuses on providing a targeted support package to stabilize export activities and safeguard India's market presence amid rising costs.

During a press conference, Commerce Secretary Rajesh Agrawal highlighted the severe repercussions of the Middle East conflict on trade, noting significant 'challenges due to this conflict.' The RELIEF scheme, with a financial allocation of Rs 497 crore, is part of the wider Export Promotion Mission (EPM) and includes three distinct components addressing various segments of Indian exporters.

A core part of the RELIEF plan involves the Export Credit Guarantee Corporation of India (ECGC) in managing the scheme. The rising costs in maritime logistics, including freight rate hikes, pose a severe threat, particularly impacting MSMEs with limited resources. The comprehensive scheme aims to prevent further strain and maintain regional trade flows.