The mini-Exim Policy today raised the equity base of the Export Credit Guarantee Corporation (ECGC) of India by Rs 300 crore to Rs 800 crore in order to help Indian exporters in better risk management.
A national export insurance account will be created for the corporation for underwriting high value projects being implemented by Indian companies abroad.
Under the tenth plan, Rs 600 crore will be contributed for this purpose, and the corpus will be raised to Rs 2,000 crore subsequently. Commerce Minister Arun Jaitley said that the details would be worked out in consultation with the finance ministry.
In order to ensure easy availability of export credit to exporters and to enhance the competitiveness of Indian goods and services, a Gold Card scheme for credit worthy exporters with a good track record is being considered. The Reserve Bank of India (RBI) is finalising the scheme to make export credit available without any hassles.
