Govt assures support to basmati exporters amid West Asia crisis
26-Mar-2026 01:34 PM
Govt assures support to basmati exporters amid West Asia crisis
★ Amid the ongoing West Asia conflict and resulting shipping disruptions, the Centre has assured full support to basmati rice exporters.
★ During a meeting with exporters, the government said insurance claims will be fast-tracked, and additional costs such as higher freight, detention, and demurrage charges will be covered.
★ Shipments have been impacted due to disruptions in the Strait of Hormuz. The government has assured compensation for overhead costs on cargoes affected between Feb. 15 and Jun. 30.
★ The Export Credit Guarantee Corporation of India (ECGC) said all claims will be settled within 30 days. Exporters not currently covered will also be eligible for financial support of up to Rs. 5 million, while premium rates will remain unchanged.
★ The RoDTEP scheme is likely to be extended, and the government will soon hold discussions with shipping lines to address issues related to freight rates, container availability, and logistics disruptions.
★ Government support is expected to provide relief to exporters, though logistical challenges continue to persist.