Chairman, TEXPROCIL hails Enhanced ECGC Cover for Small Exporters
Shri Manoj Patodia, Chairman – TEXPROCIL
Mumbai (Maharashtra) [India], August 3: Chairman of The Cotton Textiles Export Promotion Council ( TEXPROCIL), Shri Manoj Patodia, extended his thanks to Shi Piyush Goyalji, the Hon’ble Union Minister of Commerce & Industry, Textiles, Consumer Affairs and Food & Public Distribution and Shri M. Sentilnathan, Chairman, ECGC Ltd for the announcement of a new scheme to provide enhanced export credit risk insurance cover to the extent of 90% to support small exporters under the Export Credit Insurance for Banks Whole Turnover Packaging Credit and Post Shipment (ECIB- WTPC & PS).
“The enhanced export credit risk insurance cover will enable the small exporters in the textile sector to explore new markets/new buyers and diversify their existing product portfolio competitively”, said Shri Patodia.
The new scheme shall be available for the manufacturer- exporters availing fund-based export credit working capital limit of up to ₹ 20 crores (i.e., total Packaging Credit and Post Shipment limit per exporter/exporter-group).
“The new scheme will enable small exporters to get export credit from the banks at a lower rate of interest”, according to the Chairman, TEXPROCIL.
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