New Delhi, March 19 -- Harsh Kumar & Rituraj Baruah

New Delhi: Amid the escalating war between US-Israel and Iran and its spreading impact on maritime logistics across the Gulf region, India on Thursday announced a major relief package-RELIEF (resilience & logistics intervention for export facilitation ), under its Export Promotion Mission. The package will be undertaken with an financial outlay of Rs.497 crore under the mission, the government said.

The Export Credit Guarantee Corporation of India (ECGC) will maintain a dashboard-based monitoring system to enable real-time tracking of claims and fund utilization, it said.

The intervention is aimed at supporting Indian exporters affected by the extraordinary freight escalation, heighte...