The Commerce and Industry Ministry on Monday extended a relief scheme for exporters dealing with the West Asia region till March 2027, citing continued geopolitical disruptions in West Asia and their impact on maritime logistics across the Gulf and adjoining regions. The scheme came into effect in March this year, and eligible destinations under the scheme include 10 countries, including UAE, Saudi Arabia, Kuwait, Qatar, Oman and Iran among others.

Under the relief scheme, which is part of the Export Promotion Mission (EPM) announced during the Union Budget this year, Export Credit Guarantee Corporation of India (ECGC) gives enhanced compensation up to 100% of loss for war-related and associated political risks, subject to verification and premiums are frozen at pre-disruption levels for the entire eligible period.

“The Department of Commerce has extended the timelines under Component II of Resilience & Logistics Intervention for Export Facilitation (RELIEF), a time-bound intervention under the EPM, until…