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Chennai:
The central government is actively considering setting
up of a national export insurance fund with a corpus of
Rs2,000 crore to extend support in respect of exports
involving large value projects with credit terms which
are unconventional and those beyond the underwriting capacity
of the Export Credit Guarantee Corporation of India Limited
(ECGC).
The
fund would also enable exports to countries facing persistent
economic and financial difficulties.
Meanwhile
the government has provided Rs100 crore to ECGC as additional
equity during 2004-05. For the current fiscal an additional
equity infusion of Rs200 crore is being budgeted.
Last
fiscal the export credit insurer has settled 978 claims
worth Rs352.28 crore.
Meanwhile,
six new policies with simplified procedures and reduced
premium rates have been introduced by ECGC to meet specific
needs of exporters, and 9 countries were upgraded resulting
in lower cost for exporters.
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