New Delhi [India]: According to an official statement issued on Monday, the Department of Commerce has extended the deadline under ‘Component II’ of ‘RELIEF’ (Flexibility and Logistics Interventions for Export Facilitation) to March 31, 2027. It is a time-bound initiative under the ‘Export Promotion Mission’ (EPM), which aims to provide risk coverage to export shipments due to the ongoing conflict in the Middle East.
Reason and purpose of expansion
The extension comes in the wake of the ongoing geopolitical turmoil in West Asia and its impact on maritime logistics in the Gulf and adjoining regions. The ‘Component II’ of this initiative aims to encourage exporters to take cover from the Export Credit Guarantee Corporation of India (ECGC) for shipments sent to certain regions, offering risk coverage of up to 95 per cent.
Benefits and Eligibility
This benefit is available on ‘Standalone Policy’ and ‘Whole Turnover Policy’ taken on or after March 16, 2026. Under this component, the premium that eligible exporters are required to pay has been secured in such a way that it does not rise beyond the pre-crisis level. This includes Full Container Load (FCL), Less Than Container Load (LCL) and Refrigerated (Reefer) containers, but does not include energy-related shipments. The statement also said that exporters who want to take coverage under the ‘RELIEF’ initiative will have to submit their claims and necessary documents through the ECGC customer portal. Guidance on creating a user ID and password, completing exporter registration and submission of claims can be obtained through video tutorials on the official YouTube channel of ECGC.
Background of the initiative
Launched on March 19, 2026, ‘RELIEF’ is a special initiative aimed at helping Indian exporters who are facing high freight costs, high insurance premiums, and war-associated export risks due to disruptions in the Gulf and the wider West Asian Maritime Corridor. There have been reports that ships have been targeted in drone and missile attacks around the Strait of Hormuz. The threat of war has also extended to the Red Sea region, as Houthi rebels in Yemen have launched attacks to capture large parts of coastal areas. The statement further said that the extension of the relief package underscores the government’s commitment to strengthening exports, maintaining trade flows, and supporting Indian exporters amidst geopolitical and maritime logistics uncertainties.
[DD News]