Govt extends RELIEF scheme for exporters by six months till March 31, 2027

The government has extended its RELIEF scheme to support exporters facing higher freight and insurance costs amid geopolitical disruptions in West Asia by six months till March 31, 2027, the commerce ministry said on Monday.

Under Component II of the initiative, the government offers 95% risk coverage to encourage exporters to obtain insurance cover from the Export Credit Guarantee Corporation of India (ECGC) for shipments to specified regions.

State-owned ECGC Ltd has been designated as the nodal agency for implementing the RELIEF scheme, including verification, claim processing, disbursement and monitoring.

The Department of Commerce extended the timeline in view of continued geopolitical disruptions in West Asia and their impact on maritime logistics across the Gulf and adjoining regions, according to an official statement.

The benefit is available for standalone and whole-turnover policies obtained on or after March 16, 2026.

Under the scheme, the premium payable by eligible exporters is protected against increases beyond pre-disruption levels during the eligible period.

The coverage applies to full container load (FCL), less than container load (LCL) and refrigerated (reefer) container shipments, excluding energy shipments.

Exporters seeking coverage under the scheme are required to submit claims and supporting documents through the ECGC customer portal.

The scheme aims to support Indian exporters facing extraordinary freight cost escalation, higher insurance premiums and war-related export risks arising from disruptions in the Gulf and the wider West Asian maritime corridor.

Under the Component I of the scheme, exporters with existing ECGC insurance cover will receive up to 100% risk coverage for eligible consignments shipped between February 14 and March 15, 2026, without any extra financial burden.

“Through RELIEF, the government aims to mitigate the immediate impact of logistics disruptions, protect exporter confidence, prevent order cancellations and safeguard employment in export-linked sectors,” the ministry said.