ECGC to support Indian exporters
NEIA to provide adequate credit insurance cover The Central Government has an undertaking known as ECGC Limited under the control of Department of Commerce, Ministry of Commerce & Industry, to support the Indian exporters and bankers by providing cost-effective insurance and trade related services against the risk of non-realisation of export proceeds. Additionally, the Government has set up the National Export Insurance Account (NEIA) operated by ECGC to provide adequate credit insurance cover to protect long and medium term exporters against both, political and commercial risks of the overseas country and the buyer or & bank concerned. The NEIA trust also provides covers to banks for Buyer’s Credit transactions, which facilitates foreign buyer to pay for project exports from India. ECGC provides the following services: i. Credit insurance schemes (popularly known as ‘Policies’) to exporters to protect them against losses due to non-payment of e