Govt reveals slew of measures to increase export credit to 30% in FY20

The commerce department clarified that the ECGC would cover not only outstanding principal of loans but also unpaid interest

The government is banking on greater loan coverage, easier inspection norms, and streamlining of profiles of exporters to raise annual credit disbursal by 30 per cent in the current fiscal year (2019-20 or FY20), said Commerce and Industry Minister Piyush Goyal on Monday.

After exports declined 6 per cent in August, the government had on Saturday announced a slew of measures to boost outflow of Indian goods. On Monday, Goyal elaborated on what measures the government was taking and what effect it would have.

One focus is increasing export credit insurance, a crucial industry demand. Goyal said premium paid by