June 17, 2024
Chairman, TEXPROCIL hails Enhanced ECGC Cover for Small Exporters

Chairman, TEXPROCIL hails Enhanced ECGC Cover for Small Exporters

Read Time:1 Minute, 7 Second

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.

www.texprocil.org

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

The post Chairman, TEXPROCIL hails Enhanced ECGC Cover for Small Exporters appeared first on Republic News Today.