New Delhi, Mar 19 (TNT): The Federation of Indian Export Organisations (FIEO) on Thursday welcomed the government’s announcement of the RELIEF (Resilience & Logistics Intervention for Export Facilitation) initiative under the Export Promotion Mission to support exporters affected by disruptions in West Asia maritime trade routes.
In a statement, FIEO President S C Ralhan said the move was timely and proactive, noting that recent developments in the Strait of Hormuz and the wider Gulf region have led to vessel diversions, longer transit times, congestion at transshipment hubs, and a sharp rise in freight and insurance costs.
He said these challenges have created significant uncertainty for Indian exporters, particularly those with exposure to the region, and added that the government’s swift intervention reflects its commitment to safeguarding export interests and ensuring continuity of trade.
FIEO appreciated the design of the RELIEF package, highlighting that it addresses exporters’ needs across various stages of the export cycle.
Under the initiative, exporters who had already secured cover from the Export Credit Guarantee Corporation of India (ECGC) during the disruption period will receive up to 100% risk coverage without additional cost. For shipments planned over the next three months, exporters can obtain ECGC cover with government-backed risk protection of up to 95%.
The organisation also welcomed provisions for MSME exporters, including up to 50% reimbursement of extraordinary freight and insurance costs for those not covered under ECGC, calling it an inclusive support measure.
FIEO noted that the dedicated financial outlay and real-time monitoring mechanism would ensure transparency and timely disbursal of benefits.
Ralhan said the RELIEF initiative would help mitigate the immediate impact of logistics disruptions and reaffirmed FIEO’s commitment to work closely with the government and stakeholders for effective implementation and feedback from the exporting community.
TNT KS
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