ECGC, a premier export credit agency of the Government of India, provides export credit insurance services to facilitate exports from the country. The ECGC offers credit insurance schemes to exporters to protect them against losses due to non-payment of export dues by overseas buyers due to political and/or commercial risks.
The ₹2,000 crore infusion would enhance insurance coverage to micro, small and medium enterprises (MSME) exports and strengthen India’s exports to emerging and challenging markets like Africa, CIS and Latin American countries, an official statement said.
With enhanced capital, ECGC’s underwriting capacity and risk to capital ratio will improve considerably. With a stronger underwriting capacity, ECGC will be in a better position to support Indian exporters to tap new and unexplored markets.
Further, increased capital infusion will help ECGC to diversify its product portfolio and provide cost effective credit insurance helping exporters to gain a stronger foothold in the difficult markets. Covers from ECGC will help in improving competitive position of Indian exporters in international markets.
ECGC covers exports to around 200 countries in the world, and more than 85 per cent of the customers benefited by ECGC’s covers are MSMEs, the statement said. (RKS)
Fibre2Fashion News Desk – India
| On 15th May 2021
The government of Australia has earmarked Au$1 million to promote and ...
The import of textiles and apparel by the United States increased by...
| On 15th May 2021
The British luxury fashion designer Amanda Wakeley’s company, AW...
Strike a balance between handmade in India and 'Make in India'
One thing is certain, online sales will go up
Main challenges are breakdown of supply chain and shrinkage of manpower
Dr. Vijaya Kumar
Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....
A TV show in 2012 where actor Sonam Kapoor <g...
P V Kadole
Nine co-operative organisations from Ichalkaranji came together to form an ...
UK-based Directa Plus is one of the largest producers and suppliers...
Ventile is a registered trademark used to brand a special high-quality...
INDA, a global association of the nonwoven fabrics industry, has been...
Tahweave & Garo
Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...
Twee In One
Best known for convertible clothing, Indian brand Twee In One by designer...
Designer <b>Suman Nathwani</b> talks about her journey of opening a...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to email@example.com.