ECGC

(A Government of India
Enterprise)
CONTENTS
• ECGC
• History
• Objectives of ECGC
• Functions of ECGC
• Facilities by ECGC
• Need for ECGC
• Vision and Mission
• Awards and Recognition
• Board of Directors
• Products and Services

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ECGC
The ECGC Limited (Formerly Export Credit Guarantee
Corporation of India Ltd) is a government owned export
credit provider. It is under the ownership of Ministry of
Commerce and Industry, Government of India based
in Mumbai, Maharashtra. It provides export
credit insurance support to Indian exporters. Its topmost
official is designated as Chairman and Managing
Director who is a central government civil
servant under ITS cadre.
Government of India had initially set up Export Risks
Insurance Corporation (ERIC) in July 1957. It was
transformed into Export Credit and Guarantee Corporation
Limited (ECGC) in 1964 and to Export Credit Guarantee
Corporation of India in 1983.
WEBSITE
 HISTORY OF ECGC
The need for export promotion had started immediately after Independence in 1947.
In 1953, a proposal for initiation of an export credit guarantee scheme was put forward at a meeting of the Export
Advisory Council . Ministry of Commerce & Industry analyzed in depth the pros and cons of the Export Credit Insurance
Scheme and a revised draft proposal on the scheme was presented to the Export Advisory Council in 1955.
Shri T T Krishnamachari, Finance Minister in Pandit Nehru’s cabinet appointed a special committee under the
Chairmanship of Shri T.C.Kapur to examine the feasibility of setting up an effective organization to provide insurance
against export credit risks. The Government accepted the recommendations of Kapur Committee and thus the Export
Risk Insurance Corporation (ERIC) was registered on 30th July 1957 in Mumbai as a Private Ltd. Company, entirely state
owned, under the Companies Act with an authorized capital of Rs.5 crores and paid up capital of Rs.25 lakhs. Shri
Ratilal M Gandhi was the First Chairman and Shri T C Kapur was the First Managing Director of the Corporation. Shri
Morarji Desai, Union Commerce Minister inaugurated ERIC and the first Policy was issued on 14th October 1957.
After introduction of insurance covers to banks during the period 1962-64, ERIC’s name was changed to Export Credit &
Guarantee Corporation Ltd in 1964.
The above name was changed to Export Credit Guarantee Corporation of India Ltd. in the year 1983. Subsequently in
August 2014, it was renamed as ECGC Ltd.
 OBJECTIVES
1.To encourage and facilitate globalization of India’s trade.
2.To assist Indian exporters in managing their credit risks by providing timely information on worthiness of the
buyers, bankers and the countries.

3.To protect the Indian exporters against unforeseen losses, which may arise due to failure of the buyer, bank or
problems faced by the country of the buyer by providing cost effective credit insurance covers in the form of Policy,
Factoring and Investment Insurance Services comparable to similar covers available to exporters in other
countries.
4.To facilitate availability of adequate bank finance to the Indian exporters by providing surety insurance covers for
bankers at competitive rates.
5.To achieve improved performance in terms of profitability, financial and operational efficiency indicators and
achieve optimum return on investment.
6.To develop world class expertise in credit insurance among employees and ensure continuous innovation and
achieve the highest customer satisfaction by delivering top quality service.
7.To educate the customers by continuous publicity and effective marketing.
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 FUNCTIONS

• Provides a range of credit risk insurance covers to exporters against loss in export of goods and
services as well.

• Offers guarantees to banks and financial institutions to enable exporters to obtain better
facilities from them.

• Provides Overseas Investment Insurance to Indian companies investing in joint ventures

abroad in the form of equity or loan and advances.
 FACILITIES BY ECGC
•Offers insurance protection to exporters against payment risks
•Provides guidance in export-related activities
•Makes available information on different countries with its own credit ratings
•Makes it easy to obtain export finance from banks/financial institutions
•Assists exporters in recovering bad debt
•Provides information on credit-worthiness of overseas buyers

NOTABLE
•Largest Policy – short term ₹450 crores
•Largest database on buyers 8 lakhs
•Largest credit limit ₹80 Crores
•Largest claim paid ₹540 crores
•Quickest claim paid 2 days
•Highest compensation-Iraq ₹788 Crores
 NEEDS FOR ECGC
Payments for exports are open to risks even at the best of times. The risks have assumed large proportions today
due to the far-reaching political and economic changes that are sweeping the world. An outbreak of war or civil
war may block or delay payment for goods exported. A coup or an insurrection may also bring about the same
result. Economic difficulties or balance of payment problems may lead a country to impose restrictions on either
import of certain goods or on transfer of payments for goods imported. In addition, the exporters have to face
commercial risks of insolvency or protracted the default of buyers. The commercial risks of a foreign buyer
going bankrupt or losing his capacity to pay are aggravated due to the political and economic uncertainties.
Export credit insurance is designed to protect exporters from the consequences of the payment risks, both
political and commercial, and to enable them to expand their overseas business without fear of loss.

Cooperation agreement with MIGA (Multilateral Investment Guarantee Agency) an arm of World Bank. MIGA
provides:
1. Political insurance for foreign investment in developing countries.
2. Technical assistance to improve investment climate.
3. Dispute mediation service.
4. It helps the exporter
Under this agreement protection is available against political and economic risks such as transfer restriction,
expropriation, war, terrorism and civil disturbances etc.
VISION & MISSION
VISION
• The vision of ECGC Ltd. is to excel
in providing export credit
insurance and trade related
services.
MISSION
• The mission of ECGC is to support
the Indian Export Industry by
providing cost effective insurance
and trade related services to
meet the growing needs of
Indian export market by optimal
utilization of available resources
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 AWARDS AND RECOGNITION
Corporation has been awarded with Indira Gandhi Rajbhasha
First Prize for Excellence Award” in Region “B” for
Implementation of Official excellent implementation of
Language under the scheme “Shield Rajbhasha. Smt. Geetha
for Excellent Official Language Mularidhar , Executive
Implementation” by Ministry of Director, has received this
Commerce during 2013-14. prestigious award from
Honorable President of India
Shri Pranab Mukherjee on 15th
November 2014 in a ceremony
organized at Vigyan Bhavan,
New Delhi.
Export Credit Guarantee Corporation
ECGC has been conferred the
Limited has received First Prize for
First Prize for excellent
implementation of Rajbhasha Excellent Implementation of Official
Language for Year 2012-13 by
for the year 2012 – 13 by the
“Aashirwad Sansthan” . Award is
Ministry of Commerce and
given by Honable Police
Industry. Shri N.Shankar, CMD
commissioner of Mumbai Dr. Satypal
of ECGC received the award
from Ms. Anita Agnihotri, IAS, Singh which is received by General
Additional Secretary & Manager Shri Manoj Kumar.
Financial Advisor, in the
function held on 17 October
2013. This is the 14th award in
the series of awards conferred
on ECGC by the Ministry so far
BOARD OF DIRECTORS
Shri. M
Senthilnathan
Chairman cum
Managing Director

Shri Sunil Kumar

Joshi
Executive Director
(Policy Matters)

Shri Vipul Bansal Smt. Aparna Bhatia

Joint Secretary Joint Secretary
Department of Commerce Economic Adviser,
Ministry of Commerce & Department of Economic
Industry Affairs Ministry of Finance
Govt. of India, New Delhi

Shri S.C. Murmu Ms. Harsha Bangari

Executive Director, Managing Director,
Export-Import Bank of
Reserve Bank of India.
India
P R O D U C TS
&
S E R V I C E S
 EXPORT CREDIT
INSURANCE FOR
EXPORTER
SHORT TERM-TURNOVER BASED SHORT TERM EXPOSURE BASED MEDIUM AND LONG TERM

• Shipment Comprehensive Risks • Buyer Exposure Policy (BEP) • Construction Works Policy (CWP)
Policy (SCR)
• IT-Enabled Service Policy Single • Specific Policy for Supply
• Small Exporters Policy (SEP) Customer (SITES) Contract
• Specific Shipment Policy (SSP) • Micro Exporter Policy (MEP) • Specific Shipment policy (SSP)
• Services Policy (SRC) • Software Project Policy (SPP) • Specific Services Policy (SRC)
• Export Turnover Policy (ETP)
• Exports (Specific buyer’s) Policy
(BWP)
• Consignment Exports Policy
(Stockholding Agent) (CSA)
 EXPORT CREDIT
INSURANCE FOR BANK
SHORT TERM PRE- SHORT TERM POST- SHORT TERM COVER AGAINST
SHIPEMENT (PC) SHIPMENT BANK GUARANTEE

• Individual Packing Credit (INPC)
• Whole Turnover Packing Credit
(WTPC)
• Branch Wise Packing Credit
(BIPC)
• Individual Post Shipment (INPS) • Surety Cover (ECIB-SC)
• ECIB-INPS (With Exclusion)  • Advanced Payment-cum
Performance
• ECIB-INPS (Without Exclusion) 
• ECIB-INPS (Not Holding
Standard Policy) 
• Whole Turnover Post Shipment
(WTPS)
• Export Finance (EF)
 EXPORT CREDIT
INSURANCE FOR BANK
MEDIUM AND LONG TERM
• Individual Packing Credit (INPC)
• Individual Post Shipment (INPS)
• Export Performance (EP)
SPECIAL SCHEMES
• Factoring
• Buyer’s Credit Cover
• Lines of Credit Cover
• Overseas Investment Insurance
• Customer Specific Covers
• NEIA
THANK
YOU
DANVI SREES.B.
19BCF104