ECGC (Export Credit Guarantee Corporation of India) has to be very conscious of tracking what is happening, transparency in its working, ease in operations, and conversion into online operations as much as possible. “We should trust the exporter unless there is a reason not to trust someone and have completely digital online interactions with them, with transparent operations. I would urge ECGC to relook at all your processes. I would urge the industry to help us clean up the India story so that it is a story which the world will envy,” said Union Minister for Commerce and Industry Piyush Goyal who inaugurated the new corporate office building of Export Credit Guarantee Corporation, at Andheri, Mumbai on Sunday.
Goyal also launched SEEPZ’s new website https://www.seepz.gov.in/ with enhanced features for a seamless user interface.
Goyal requested the CMD, ECGC, to move the export limit to Rs 400 million, so that sectors other than gems and jewellery and commodities are covered under this expanded credit risk cover regime. “In return, we want the industry to assure full honesty and integrity in claims and in the way we work with ECGC. We cover around 22% – 25% of merchandise exports, we should aim to go up to around 50% so that almost MSMEs can benefit from these schemes and enjoy lower interest rates.”