The Export Credit Guarantee Corporation of India is
likely to diversify into insurance lines that complement
its primary business of export credit insurance following
increased competition from the private sector.
P.M.A. Hakeem, Chairman and Managing Director, said
that in the event the company chose to diversify it
would be in areas that complemented export credit insurance.
As an example, he identified marine insurance as an
area that would sit well with ECGC's core business.
At present, ECGC insures about 15 per cent of India's
exports. ECGC officials expect private sector players
to take away a few high-end clients, but are confident
of dominating the segment of the market that comprises
small consignments to third world countries.
is upbeat about the spin-offs from increased competition.
Mr Hakeem pointed out that ECGC had recently widened
its product range from one policy to about six, and
linked 35 branches through information technology to