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Export Credit Guarantee Corporation
Let’s learn more about the Export Credit Guarantee Corporation. ECGC is a Government of India Enterprise. It provides export credit insurance facilities to exporters and banks in India. ECGC functions under the administrative control of Ministry of Commerce & Industry, and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, Banking , insurance and exporting community. Over the years, it has evolved various export credit risk insurance products to suit the requirements of Indian exporters and commercial banks. ECGC is the seventh largest credit insurer of the world in terms of coverage of national exports.
ECGC is basically an export promotion organization, seeking to improve the competitive capacity of Indian exporters by providing them credit insurance covers comparable to those available to their competitors from most other countries. The premium rate is less as compare to others.
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. The government of India had initially set up it in July 1957. It was transformed into ECGC in 1964 and to Export Credit Guarantee Corporation of India in 1983.
