Indian MSMEs seek force majeure relief after Gulf war disruptions
Indian MSMEs with government contracts are asking for force majeure status after the Gulf war disrupted their supply chains.
This would help them avoid penalties and get deadline extensions, similar to the relief they received during COVID-19.
Industry leaders say these disruptions are making it tough to keep up with contract requirements.
Indian government launches ₹497cr relief scheme
The government is reviewing these requests and may extend project timelines. To support exporters, it launched a ₹497 crore RELIEF scheme offering better insurance.
It also let special economic zone units sell locally at lower duties for a year.
The Reserve Bank of India has also extended the enhanced export credit period of up to 450 days until June 30.
Meanwhile, industry groups want further help, like capping war-risk surcharges and waiving some logistics fees, as everyone looks for ways to get through these challenges together.