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29th March 2016, 11:49 AM
Super Moderator
 
Join Date: May 2012
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...


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