India's trade ministry said on Thursday the government will extend support for insurance cover on shipments routed through conflict-hit corridors, as exporters struggle with sharply rising logistics costs. Routes through conflict‑hit West Asia have seen a steep ​rise in freight ​and insurance bills, costs that exporters ‌have ⁠limited ability to pass on, the ministry said. ADVERTISEMENTNew Delhi launched a ​4.97 billion ​rupees ($53.26 ⁠million) scheme to support insurance cover ​for shipments moving ​through ⁠the affected corridors to stabilise costs and prevent ⁠order ​cancellations, it ​added. Speaking during an inter-ministerial briefing on Wednesday, Special Secretary in the Shipping Ministry Rajesh Kumar Sinha, said, "The additional war risk premium is being imposed now. “If a ship enters a war zone, is on a voyage through such an area, or enters any high-risk region, the war risk premium increases,” Sinha noted.

Source: The Telegraph March 19, 2026 09:04 UTC