#1
29th March 2016, 11:48 AM
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ECGC Importance
hii sir I wants to know About the Export Credit Guarantee Corporation and its Key role ? and what is the Need of the ECGC ?
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#2
29th March 2016, 11:49 AM
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Re: ECGC Importance
The ECGC Limited is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce. Works of the ECGC : Provides a range of credit risk insurance covers to exporters against loss in export of goods and services as well. Offers guarantees to banks and financial institutions to enable exporters to obtain better facilities from them. Provides Overseas Investment Insurance to Indian companies investing in joint ventures abroad in the form of equity or loan. For Exporters : Offers insurance protection to exporters against payment risks Provides guidance in export-related activities Makes available information on different countries with its own credit ratings Makes it easy to obtain export finance from banks/financial institutions Assists exporters in recovering bad debt Provides information on credit-worthiness of overseas buyers Need /Importance of the ECGC : Export credit insurance is designed to protect exporters from the consequences of the payment risks, both political and commercial, and to enable them to expand their overseas business without fear of loss. Cooperation agreement with MIGA (Multilateral Investment Guarantee Agency) an arm of World Bank. MIGA provides: Political insurance for foreign investment in developing countries Technical assistance to improve investment climate. Dispute mediation service. Under this agreement protection is available against political and economic risks such as transfer restriction, expropriation, war, terrorism and civil disturbances etc... |