Expect 30% rise in export credit by March: Piyush Goyal

NEW DELHI: The government expects a 30% rise in export credit disbursals by the end of 2019-20 through greater insurance coverage of exporters and easier inspection norms.

The commerce and industry ministry will soon approach the Cabinet for reduction in insurance premium rates to 0.6% for small exporters having an outstanding limit of less than Rs 80 crore.

“For accounts with limits below Rs 80 crore, the premium rates will be moderated to 0.6% annum and for those exceeding Rs 80 crore, it will be 0.72% annum for the same enhanced cover,” commerce and industry minister Piyush Goyal said while sharing the details of the new NIRVIK (Niryat Rin Vikas Yojna) or Export Credit Insurance Scheme that Export Credit Guarantee Corporation of India has launched.