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ECGC planning to expand overseas
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SME Times News Bureau | 19 Oct, 2009
Export credit insurer ECGC, the export promotion organisation functioning under the Commerce and Industry Ministry, is looking at expanding its operations in overseas markets, according to a top company official.
"We are contemplating setting up of our offices in London, Dubai, Singapore or Hong Kong and Africa," Export Credit Guarantee Corporation of India (ECGC) Chairman and Managing Director A V Muralidharan told a news agency in Mumbai.
Muralidharan said that the Corporation has already applied to the government for permission to open the offices and is awaiting its approval.
ECGC provides a range of credit risk insurance covers to exporters against loss in export of goods and services.
The Corporation, which collected a premium of Rs 745 crore in the last financial year, is targeting to close this fiscal with an additional Rs 105 crore premium, he said.
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Exploring the export potential in Overseas Markets.
GEORGE E. P. | Wed Oct 21 06:06:52 2009
It is really very exciting and pleasurable news to read that ECGC is in the process of opening their office in some overseas countries. May I suggest them to open offices in GCC specifically in Saudi Arabia. As a Procurement Manager, I have been facing problem with our Indian manufacturers that they are in fact reluctant to spent few amount for even sending samples to other countries, probably due to the reasons that they are not confident of their products or due to accountability. This step of ECGC is definitely going to give them some encouragement or rather courage to send their samples at their cost for mutual benefit. We have lot of products in India which can really prove that these are of international standards and can compete in the international market. Please inculcate our industries the way Chinese captured the whole world, definitely it is not because of their quality, but their ambition to capture the world market. They are everywhere and our endeavour must also be to barge ahead of them and prosper without looking back. We Indians can conquer the whole world with our prestigious products. Let us give our industrial export a boost and encourage and enrich "Indian Products" and support our industries with incentives as well as assurance to challenge and meet this beneficial task.
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