Rs2,000 crore-national export insurance fund to be set up
30 August 2005
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.