TaxTMI 
TaxTMI 
Time-limited Support for Exporters in view of Geopolitical Disruptions in the Gulf and West Asia Maritime Corridor
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....ign Trade Policy 2023, as amended from time to time, the Central Government hereby notifies a time limited Support for Indian Exporters, Resilience & Logistics Intervention for Export Facilitation (RELIEF), under the Export Promotion Mission(EPM). Details of the said intervention are submitted at Annexure enclosed. Effect of the Notification: A time-limited RELIEF intervention under the Export Promotion Mission, to be implemented through the Export Credit Guarantee Corporation of India (ECGC), is operationalised to address elevated export risks arising from geopolitical disruptions in the Gulf and West Asia maritime corridor. (Lav Agarwal) Director General of Foreign Trade & Ex-officio Addl. Secretary to the Government of Ind....
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....LIEF - shall consist of three complementary components aimed at addressing the principal stress points faced by the exporters, namely: - (i) enhanced war/political risk support for eligible ECGC's already insured exporters; (ii) time-limited support to encourage and facilitate ECGC coverage for eligible exporters for upcoming exports; and, (iii) time-limited reimbursement support for extraordinary freight and insurance surcharge burden borne by eligible non-ECGC-insured MSME exporters in respect of customs-cleared cargo. 5. Given the experience of ECGC in handling export credit risks and claims administration, ECGC shall act as the nodal and implementing agency for the three interventions under RELIEF, incl....
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....ification. • To reimburse ECGC for the amount that it shall pay to the exporters for such compensation in excess of the amount that is payable under their existing ECGC policy cover. 6.3. The assistance under this component shall not be applicable for back-to-town cargo cases. Such cases shall continue to be covered as per their existing ECGC policy cover. No reimbursement shall be made to ECGC for such cases under this component. 6.4. Government support under this Component-I is estimated at Rs.56 crores, for the limited intervention window under the RELIEF proposal, to enable ECGC to extend compensation up to 100% of loss, over and above the coverage ordinarily admissible under the relevant policy. RELIEF Component-I....
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....ters for such compensation in excess of the amount that is payable under the ECGC policy cover. 7.3. The assistance under this component shall not be applicable for back-to-town cargo cases. Such cases shall continue to be covered as per their existing ECGC policy cover. No reimbursement shall be made to ECGC for such cases under this component. 7.4. Government support under this Component-II is estimated at Rs.159 crores, for the limited intervention window under the RELIEF proposal, to enable ECGC to extend compensation up to 95% of loss, over and above the coverage ordinarily admissible under the relevant policy. RELIEF Component-III: Reimbursement support for extraordinary freight and insurance surcharge borne by eligible non-E....
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...., Less than Container Load (LCL) or Reefer containers (perishable cargo) - destined for countries such as United Arab Emirates, Saudi Arabia, Kuwait, Israel, Qatar, Oman, Bahrain, Iraq, Iran, Yemen ^3[Egypt and Jordan] for delivery or for transshipment. • For CIF contracts, reimbursement of upto 50% of the additional freight and insurance burden actually borne by the exporter, subject to production of prescribed documentary evidence, shall be provided; • For FOB contracts, reimbursement of upto 50% of the reduction between the contracted FOB value and the realised export proceeds shall be provided. The same shall, however, be done only where such reduction is demonstrably and solely attributable to extrao....