| ECGC may insure domestic sector firms |
| BS Reporter / New Delhi September 5, 2007 |
| The Export Credit Guarantee Corporation of India Ltd (ECGC) is all set to be allowed to provide credit insurance cover to domestic sector companies. "The current mandate allows us to provide credit insurance cover only to activities related to exports. The goverment is likely to give us the permission to provide credit insurance to business activities focused on the domestic market. Once we get the permission, the new scheme could be launched by early November this year," said A V Muralidharan, chairman and managing director, ECGC. Initially, the scheme will be open to exporters, who have business interests in the domestic market. "In the next two years, we plan to increase the insurance coverage to the non exporting community also," he added. The new scheme will provide insurance cover to small and medium enterprises as well as businesses from the manufacturing and agriculture sectors. Moreover, it is expected to add at least Rs 50 crore in the corporation |
