Centre extends export risk cover scheme till March 2027 amid West Asia crisis

The Centre has officially extended the RELIEF initiative until March 31, 2027, aimed at assisting exporters who are currently dealing with heightened shipping costs and logistics challenges stemming from West Asia turmoil. Under this scheme, eligible exporters can secure up to 95 percent risk coverage along with vital protection against rising insurance premiums. To receive these benefits, interested exporters are required to submit their claims through the customer portal managed by the Export Credit Guarantee Corporation.

This extension provides a necessary financial safety net for businesses whose profit margins are squeezed by unpredictable geopolitical events impacting key international shipping lanes. By insulating trade participants from steep insurance spikes, the measure helps maintain the competitiveness of Indian outbound shipments during volatile external conditions.

Exporters seeking coverage under the prolonged initiative must prepare their documentation and submit claims directly via the Export Credit Guarantee Corporation customer portal before the March 31, 2027 deadline. Businesses should review their recent shipping logs and insurance hikes to ensure compliance with the portal's submission guidelines.