New Delhi [India], October 31 (ANI): The Ministry of Commerce and Industry has constituted a six-member sub-committee to review the implementation of the Resilience & Logistics Intervention for Export Facilitation (RELIEF) initiative and recommend measures to improve the utilisation of funds and uptake of the scheme among exporters.
According to a Trade Notice issued by the Directorate General of Foreign Trade (DGFT) on October 30, the committee has been constituted with immediate effect under the Export Promotion Mission (EPM).
The DGFT stated, "A Sub-Committee for RELIEF is hereby constituted with immediate effect, to facilitate better utilisation of funds and improved uptake of the intervention."
The committee will review the progress of all three components of RELIEF, including claims processed and the balance funds available with the Export Credit Guarantee Corporation of India (ECGC).
The notice said the committee will "examine the factors affecting the uptake of the intervention and the utilisation of the approved funds" and recommend measures to improve both.
Its recommendations will be placed before the EPM Steering Committee for further consideration and decisions on the review of RELIEF.
The six-member panel will be jointly chaired by the Additional Director General of Foreign Trade from DGFT's Logistics Division and the Additional Director General of Foreign Trade from its EPM Division.
It will also include representatives from the Department of Commerce, ECGC and the Department of Financial Services, while a Joint DGFT from the EPM Section will serve as convenor.
The development follows the Department of Commerce's October 26 announcement extending the operational timeline of RELIEF Component II until March 31, 2027, amid continued maritime trade disruptions linked to tensions in West Asia. The component provides 95 per cent risk coverage through ECGC for eligible export shipments to specified regions. (ANI)
Govt forms panel to review RELIEF scheme implementation, improve fund utilization
