The Indian Government has established a 20 billion rupee ($452 million) National Export Insurance Account (NEIA), in a measure calculated to support the country’s exports of projects and services.
A report from Asia Pulse quoted Commerce and Industry Minister Kamal Nath as stating: “This mechanism will enable Export Credit Guarantee Corporation to provide export credit risk cover to project exports and other large value export transactions which may not otherwise get cover. This will give a big boost to India’s exports of projects and services.”
The establishment of the NEIA fulfills demands from Indian companies for the establishment of a facility to provide credit risk insurance in the same manner as their competitors, especially in newer countries and vulnerable economies.
Was this article valuable?
Here are more articles you may enjoy.
New York Regulates Consumer Litigation Financing 
AIG’s Zaffino to Step Down as CEO as Aon’s Andersen Steps In 
Law Firm Faces Sanctions for Failing to Vet Ugandan Claims in $6B 3M Case 
Howden US Tells Judge Brown & Brown Employees Fled Due to ‘Mistreatment’ 
