Three new products for small exporters awaiting IRDA approval
Coimbatore: Export Credit Guarantee Corporation is awaiting approval from Insurance Regulatory and Development Authority for its three new products that meant for the benefit of small exporters, a top official said on Saturday.
The proposals have already been sent to the Authority, which would benefit small exporters, micro exporters and also those having an export turnover of Rs 20 crore to Rs 100 crore, N Shankar, Chairman-cum-Managing Director, Export Credit Guarantee Corporation (ECGC), told reporters on the sidelines of a function here.
However, he refused to elaborate on the products, saying this can be done only after approval from the Authority, which is expected by year-end.
Earlier, addressing an interactive session on enhancing India's exports, organised by Federation of Indian Exporters Organisation, he said the Corporation plans to open its first overseas office in London this year.
Shankar said ECGC has also launched a new portal as part of Information Technology upgradation, which would become operational next year.