The Commerce Ministry has constituted a six-member sub-committee to ensure better utilisation of funds and improve exporters’ participation in the RELIEF initiative, launched to address challenges arising from disruptions in international maritime trade.
RELIEF (Resilience and Logistics Intervention for Export Facilitation) is being implemented under the Government’s Rs 25,060-crore Export Promotion Mission (EPM). The initiative aims to protect Indian exporters from rising freight costs, higher insurance premiums and maritime trade disruptions, particularly along the Gulf and West Asian trade corridors.
In a trade notice, the Directorate General of Foreign Trade (DGFT) said the sub-committee would focus on improving the utilisation of approved funds and encouraging greater uptake of the intervention.
The six-member panel will comprise three officials from the DGFT and one representative each from the Department of Commerce, Department of Financial Services and the Export Credit Guarantee Corporation of India (ECGC).
The committee will review the implementation progress of all three components of RELIEF, including claims processed and the balance funds available, based on information provided by ECGC.
It will also examine factors affecting exporters’ participation and the utilisation of approved funds, while recommending measures to improve the effectiveness and reach of the initiative.
The move is expected to strengthen the implementation of RELIEF and ensure that the support reaches exporters facing higher logistics costs and uncertainties arising from geopolitical developments and disruptions along key international shipping routes.