Government of India approves capital infusion in ECGC and corpus to NEIA.
Government of India approved Rs. 4,400 crore investment in ECGC Ltd. in 5 years to provide support to exporters as well as banks and continuation of the National Export Insurance Account (NEIA) scheme and infusion of Rs. 1,650 crore Grant-in-Aid over 5 years.
Major benefits of providing capital to ECGC and corpus to NEIA is as below:
1. ₹88,000 crore increase in risk underwriting capacity of ECGC to support additional exports of Rs. 5.28 lakh crore.
2. Enable ECGC to extend export credit risk insurance covers to around 25000 exporters.
3. Capital infusion in NEIA to help tap the huge potential of project exports in focus markets.
4. Will support project exports with Indian content sourced from across the country and will enhance manufacturing in India.