WT-ECIB scheme likely to benefit 1,000 new small exporters, says govt

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WT-ECIB scheme likely to benefit 1,000 new small exporters, says govt - Business Standard

Quick Summary:

The ECGC is aiming to reduce the export credit gap through the WT-ECIB scheme, which is expected to benefit about 1,000 new small exporters, in addition to the existing 8,000-odd by facilitating the availability of adequate and affordable export finance from banks for working capital, an official statement said.

The commerce ministry in its 2024 year-end review said that the Export Credit Guarantee Corporation of India (ECGC) has extended the scope of its Whole Turnover Export Credit Insurance for Banks (WT-ECIB) scheme to export credit working capital limits up to Rs 80 crore with effect from July 1.

"ECGC aims to improve the export credit offtake for MSME exporters and reduce the export credit gap through this scheme, which is expected to benefit around 1,000 new small exporters, in addition to around 8,000 existing exporters," it added.