ECGC: Empowering exports

Mumbai-headquartered ECGC, has 60 branch offices and five regional offices spread across India. This export credit agency (ECA) of Government of India has an authorised capital of Rs 5, 000 crore and a paid-upcapital of Rs 1, 500 crore as on March 31, 2018.

Addressing the media to highlight business performance for the FY 2017-18, Geetha Muralidhar, CMD of ECGC mentioned the Company had 34,740 covers in force with a maximum liability of Rs 96,101 crore as at the end of the year on March 31, 2018. The total risk value covered during the year comes to Rs 6, 41,449 crore which is 33 per cent of the total exports of the country. It is notable to observe that the portfolios consist of more than 85 per cent of MSME exporters only.

The future plans of ECGC include increasing the value of business covered to Rs 9.60 lakh crore from Rs 6.41 lakh crore; target 17,500 meets which will be one-toone meeting with one prospective clients / day / officer; increase the share of exporters business from 27 per cent to 38 per cent; and increase the risk value under Medium and Long Term (MLT) by 100 per cent by FY 2020.

In terms of cover to receivables of exporters 11, 946 polices were in force which covered a value of Rs 1, 77,349 crore. The major coverage has been to Europe and North America for high risk transactions like open delivery and longer credit periods.