The Federation of Indian Export Organisations (FIEO) expressed appreciation for the government’s prompt introduction of the RELIEF (Resilience and Logistics Intervention for Export Facilitation) initiative. This initiative, part of the Export Promotion Mission, aims to assist exporters affected by disruptions in West Asia maritime trade routes. Recent challenges in the Strait of Hormuz and the Gulf region have caused issues like vessel diversions, longer transit times, port congestion, and rising freight costs, impacting Indian exporters, especially those dealing with the region.
S.C. Ralhan, President of FIEO, commended the government’s quick action, emphasizing its commitment to protecting India’s export interests amidst global uncertainties. The RELIEF package’s comprehensive structure was praised by FIEO for catering to exporters at various stages of the export process, offering risk protection, support for upcoming shipments, and relief for MSME exporters. The inclusion of a dedicated financial allocation and real-time monitoring system is expected to ensure transparent and timely benefit distribution.
FIEO believes that the RELIEF initiative will help alleviate the immediate effects of logistics disruptions to a certain extent. The Federation reiterated its dedication to collaborating with the Government and stakeholders to ensure effective communication and smooth execution of the scheme, while also gathering feedback from the exporting community. ECGC Ltd, a government-owned entity under the Ministry of Commerce and Industry, has been entrusted as the nodal agency for verifying, processing claims, disbursing funds, and overseeing the initiative.
The RELIEF intervention comprises three key components that cater to shipments bound for countries in the region such as the United Arab Emirates, Saudi Arabia, Kuwait, Israel, Qatar, Oman, Bahrain, Iraq, Iran, and Yemen, whether for direct delivery or transshipment.
