ECGC plans insurance cover for exporters

Circular  No.ES/68/2015-16                                                           February 6, 2016

To : Members of the Council

Sub : ECGC plans insurance cover for exporters

The Council is in receipt of a letter from the CMD of ECGC, Ms. Geetha Muralidhar eliciting response to Export Credit Guarantee Corporation of India (ECGC) proposal to introduce a plan for support for extending credit insurance to member-exporters of the Council.

In this connection, we would like to highlight the following for seeking views of the members –

1. ECGC plans to come out with an insurance cover scheme meant for members of Export Promotion Councils, either in whole as a group or in sub groups.
2. The advantage is that members exporting the same category of products would have a better idea of likely problems in a particular country or a set of buyers.
3. The maximum liability could be fixed separately for the group and for each member within the overall liability.
4. The premium Rates applicable can also be worked out to a finer extent if sufficient volumes are assured.

In view of the above, ECGC solicits views, comments and suggestions from the EPCs like Council.

Please find a copy of letter dated 2^nd February from ECGC for your kind information.

We request you to send us your views/suggestions (if any) on the above matter within a week, latest by 12^th February, 2016.

We solicit your co-operation in this regard.

Thanking you,

Yours faithfully,

V.ANIL KUMAR
EXECUTIVE DIRECTOR