EconomyFriday, 20 March 2026·https://testbook.com/current-affairs/20-march-2026-daily-current-affairs
Government approves RELIEF intervention with ₹497 crore to support exporters hit by West Asia logistics disruptions
The Centre approved RELIEF under the Export Promotion Mission to cushion exporters facing freight and insurance shocks.
Key highlights
Direct fact
In March 2026, the Government approved RELIEF (Resilience & Logistics Intervention for Export Facilitation) under the Export Promotion Mission with an outlay of ₹497 crore to support exporters affected by West Asia maritime disruptions.
Key specifics
- An Inter-Ministerial Group on Supply Chain Resilience was operationalised on March 2, 2026.
- ECGC Limited is the nodal agency for verification, claim processing, disbursement and monitoring.
- The intervention covers consignments to the UAE, Saudi Arabia, Kuwait, Israel, Qatar, Oman, Bahrain, Iraq, Iran and Yemen.
- Eligible shipments insured between February 14, 2026 and March 15, 2026 can get up to 100% risk coverage.
- MSMEs can receive reimbursement up to 50% with a ceiling of ₹50 lakh per exporter for freight and insurance surcharges.
Exam lens
Question type: Economy and export support, RELIEF, ₹497 crore, ECGC Limited, 10 destination countries; TNPSC may ask which intervention addresses Strait of Hormuz-related logistics risk.