India is drawing up a new credit guarantee scheme for industry to cushion the fallout from the West Asia conflict, people familiar with the matter said. The proposed scheme aims to ease funding access for companies facing higher input and logistics costs, they said, as the government steps up measures to contain the economic impact of the conflict. The scheme — which could provide guarantees up to Rs 2-2.5 lakh crore — is likely to be unveiled in two weeks, they said.