New Delhi aims to support exporters facing disruptions from heightened geopolitical tensions in the Middle East.
India will strengthen its export incentive scheme to counter trade disruptions caused by the escalating conflict involving Iran. The move targets sectors vulnerable to supply chain bottlenecks and rising shipping costs amid regional instability.
The government had previously reduced export benefits in 2022 but now seeks to reverse course as geopolitical risks weigh on trade flows. Analysts estimate the scheme could cover $50 billion in annual exports, up from $30 billion last fiscal year.
Markets await details on funding and sector-specific allocations, with exporters likely to welcome the support amid weakening global demand.