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Info-Tech - IT-enabled Services


ECGC may soon offer products to cover ITES exports

K.R. Srivats

New Delhi , Nov. 26

THE Export Credit Guarantee Corporation of India Ltd (ECGC) may soon offer products to cover risks in exports of IT enabled services (ITES), according to its Chairman and Managing Director, Mr P.K. Dash.

"We have so far had products for software exports. Now, we have sought approval from the Insurance Regulatory and Development Authority (IRDA) for offering products for ITES exports," Mr Dash told Business Line here on the sidelines of the Indo-LAC Business Meet.

On the proposed Rs 2,000-crore National Export Insurance Account (NEIA), Mr Dash indicated that ECGC would cover only 20 per cent of the risk and the Government the remaining 80 per cent. He said that NEIA is to be funded entirely by the Government. The Finance Ministry has given an in-principle approval for the creation of NEIA.

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