India Risk Non Tender

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 buyerbank concerned. The NEIA trust also provides covers to banks for Buyers Credit transactions which facilitates foreign buyer to pay for project exports from India.ECGC provides the following servicesCredit insurance schemes popularly known as Policies to exporters to protect them against losses due to non-payment of export dues by overseas buyers due to political and or commercial risks on short-term basis. Export Credit Insurance covers for Banks ECIB to cover the banks lending risks involved in extending pre-shipment and post-shipment finance to exporters on short-term basis. ECGC also provides Policy and ECIB covers to promote medium and long term exports MLT otherwise called Project exports that are made on credit period exceeding 360 days. The Government has recently approved 2000 crore towards the capital infusion of ECGC during Financial Year FY 2017-18 to FY 2019-20 to enhance its capital base to augment its underwriting capacity. Additionally this will support in boosting Indias exports to emerging markets like Africa CIS and Latin American countries.