ECGC urges exporters for insurance cover
ECGC has urged the exporters to seek its insurance cover for their export-bound goods and other services in order to boost their earnings.
By PTI |
VARANASI: A public sector undertaking, the Export Credit Guarantee Corporation (ECGC) has urged the exporters to seek its insurance cover for their export-bound goods and other services in order to boost their earnings.
The ECGC not only provides insurance cover to the smallest of the exporters including ones with the export of one consignment but also fetches market for them in foreign countries in order to help our exporters enhance their earnings, the ECGC chairman and managing director A B Murlidharan told reporters here last night.
The PSU would provide insurance cover on 24 export-bound goods by charging minimum premium on insurance even as it covers guarantee of redemption in case of lost consignment or in the event of default on payment by the importers, he said.
Urging the exporters, including the smaller ones to seek cover from the insurance company for their own benefits, Murlidharan said that the ECGC also gives the exporters information with regard to the prospective markets for their products as well as those countries.
The ECGC CMD expressed concern at the lukewarm response of the exporters of the Varanasi region with annual export of goods, including carpets, sarees and artificial jewellery, worth Rs 3000 crore to take insurance cover from ECGC and said that efforts would be made to educate the exporters about the benefits of its insurance cover and other services.
Referring to the rupee appreciation which has hit hard our exporters, Murlidharan said that the centre has announced a package of Rs 1600 crore for the exporters which would enable them to tide over their losses.
The ECGC not only provides insurance cover to the smallest of the exporters including ones with the export of one consignment but also fetches market for them in foreign countries in order to help our exporters enhance their earnings, the ECGC chairman and managing director A B Murlidharan told reporters here last night.
The PSU would provide insurance cover on 24 export-bound goods by charging minimum premium on insurance even as it covers guarantee of redemption in case of lost consignment or in the event of default on payment by the importers, he said.
Urging the exporters, including the smaller ones to seek cover from the insurance company for their own benefits, Murlidharan said that the ECGC also gives the exporters information with regard to the prospective markets for their products as well as those countries.
The ECGC CMD expressed concern at the lukewarm response of the exporters of the Varanasi region with annual export of goods, including carpets, sarees and artificial jewellery, worth Rs 3000 crore to take insurance cover from ECGC and said that efforts would be made to educate the exporters about the benefits of its insurance cover and other services.
Referring to the rupee appreciation which has hit hard our exporters, Murlidharan said that the centre has announced a package of Rs 1600 crore for the exporters which would enable them to tide over their losses.
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