ECGC Scheme India

Sir I want to know that what is the ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) scheme in India? How does it benefit the exporters

[Pathak]

The ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) 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

Duties of 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.

Benefits of the ECGCto the exporters

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

Offers insurance protection to exporters against payment risks

Provides guidance in export-related activities


Achievements

Largest claim paid Rs.120 crores

Quickest claim paid 2 days

Highest compensation-Iraq Rs 788 Crores

Largest Policy – short term Rs.450 crores

Largest database on buyers 8 lakhs

Largest credit limit Rs.80 Crores