by The Export Credit Guarantee Corporation of India (ECGC) is a central government-owned financial institution that was established in 1957 to promote exports from India by providing credit risk insurance and other services to exporters. The primary objective of ECGC is to help Indian exporters in mitigating the risks involved in exporting goods and services to other countries.
ECGC plays a crucial role in supporting Indian exporters by providing credit risk insurance, export finance, guarantees, business information, training and advisory services, and factoring services. Its objective is to promote exports from India by mitigating the risks involved in exporting goods and services to other countries.
ECGC provides a range of credit risk insurance products and services to Indian exporters, including:
- Export Credit Insurance: ECGC provides insurance cover to exporters against the risk of non-payment by buyers due to commercial or political reasons.
- Export Finance: ECGC provides export finance to exporters through various schemes, such as the Export Credit Refinance Scheme.
- Guarantees: ECGC issues guarantees on behalf of Indian exporters to help them secure contracts and execute orders from overseas buyers.
- Business Information: ECGC provides exporters with business information on foreign buyers, markets, and countries to help them make informed decisions.
- Training and Advisory Services: ECGC provides training and advisory services to exporters to enhance their export capabilities and improve their competitiveness in international markets.
- Factoring: ECGC provides factoring services to exporters to help them manage their cash flows and reduce the risk of non-payment.
Objectives:
- To promote exports from India by providing exporters with credit risk insurance, export finance, and other services to mitigate the risks involved in exporting goods and services to other countries.
- To protect Indian exporters against commercial and political risks involved in exporting goods and services to other countries.
- To enhance the competitiveness of Indian exporters by providing them with business information, training, and advisory services to improve their capabilities in international markets.
- To facilitate the availability of finance to exporters by providing them with factoring services and other forms of credit support.
Working:
ECGC works in close collaboration with exporters, banks, and other financial institutions to achieve its objectives.
The following are the key activities of ECGC:
- Credit Risk Insurance: ECGC provides insurance cover to exporters against the risk of non-payment by buyers due to commercial or political reasons.
- Export Finance: ECGC provides export finance to exporters through various schemes, such as the Export Credit Refinance Scheme.
- Guarantees: ECGC issues guarantees on behalf of Indian exporters to help them secure contracts and execute orders from overseas buyers.
- Business Information: ECGC provides exporters with business information on foreign buyers, markets, and countries to help them make informed decisions.
- Training and Advisory Services: ECGC provides training and advisory services to exporters to enhance their export capabilities and improve their competitiveness in international markets.
- Factoring: ECGC provides factoring services to exporters to help them manage their cash flows and reduce the risk of non-payment.
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