India Extends Enhanced Insurance Cover for West Asia Exports Until Sept 30, 2026
Quick Look
- Indian exporters shipping to West Asia will benefit from extended enhanced insurance cover against payment defaults until September 30, 2026.
- This move, part of the RELIEF scheme, aims to bolster trade amidst the ongoing West Asia crisis and mitigate logistics challenges.
AI-generated summary
Why It Matters
Indian exporters shipping to West Asia will benefit from extended enhanced insurance cover against payment defaults until September 30, 2026, as part of the RELIEF scheme to bolster trade amidst the West Asia crisis.
New Delhi: Export consignments to West Asia will continue to receive enhanced insurance cover against payment defaults until September 30, the Directorate General of Foreign Trade (DGFT) said in a notification on Monday.
Earlier, the enhanced cover for exporters taking credit risk insurance from Export Credit Guarantee Corporation (ECGC) was available for shipments to West Asia sent between March 16 and June 15.
The enhanced risk cover announced on March 19 was part of the Resilience and Logistics Intervention for Export Facilitation (RELIEF) scheme under the Export Promotion Mission (EPM) to support exports to West Asia in view of the Iran war.
"The eligibility timelines under Component II of the EPM RELIEF intervention are extended up to September 30, 2026 to support Indian exporters and mitigate logistics challenges arising out of the continuing West Asia Crisis," the DGFT said.
Open Questions
- What specific logistics challenges are being mitigated?
- What is the total value of trade covered by this scheme?
