Surat : The Export Credit Guarantee Corporation of India (ECGC) on Friday said it will provide credit risk insurance cover against goods exported by the small exporters in South Gujarat.
CMD of ECGC, M Senthilnathan, who was in the city on Friday, attended meeting with the exporters of south Gujarat organised by the Southern Gujarat Chamber of Commerce and Industry. In the meeting, Senthilnathan assured that the small exporters from South Gujarat will be able to avail insurance scheme on the goods exported out of India.
“ECGC provides export credit insurance assistance to Indian exporters. The turnover of exporters and buyers are taken into consideration, before extending the credit insurance assistance,” said M. Senthilnathan, CMD, ECGC.
According to Senthilnathan, ECGC also tries to promote small entrepreneurs and exporters for business once they take the risk. ECGC will provide insurance against exporters’ goods on credit guarantee to increase the exports of various industries doing business in Surat and south Gujarat. Even, the new exporters will also be insured based on the rating of the country to which the goods will be exported and some criteria for how many days the goods will be delivered.
Ashish Gujarati, president of SGCCI said, “South Gujarat has a huge base of small and large manufacturers, who are exporting their products to different countries. Many new exporters are coming up from this region and that the export credit insurance by ECGC will go a long way in increasing the exports from Surat and South Gujarat region”
Himanshu Bodawala, vice-president of the chamber, said industrialists in the textile industry have installed the latest machinery. While young entrepreneurs are also venturing into the industry, if they are also insured by EPCG, exports abroad can be increased.
According to M.Senthilnathan, conferences and seminars would be organised in collaboration with the SGCCI to make the industrialists and exporters aware about various schemes of the ECGC.
“Import-export plays a very important role in the economy of the nation. This brings durable and cheap foreign products to India and that our good products can be sold in foreign markets. Exports provide valuable foreign exchange to the country. To boost exports, the Government of India has announced a series of incentive schemes for exporters in addition to simplifying export procedures under the Foreign Trade Policy.” Said M. Senthilnathan, CMD, ECGC.