ECGC re-assessing risk factors in export commitments

The Export Credit Guarantee Corporation (ECGC) of India has begun re-assessing risk factors of foreign countries in the wake of high default rate in honour of export commitments in developed countries.

The Export Credit Guarantee Corporation (ECGC) of India has begun re-assessing risk factors of foreign countries in the wake of high default rate in honour of export commitments in developed countries.

We are weighing the risk factors of overseas countries so that exporters could accordingly avail adequate insurance risk cover on their shipments in this changed global trade scenario, ECGC Deputy General Manager M A Rukadikar said.

He was speaking at a seminar jointly organised by Assocham and Gujarat Chamber of Commerce and Industries. The new risk weightage of countries would be put up for public consumption in due course of time in order to make aware the exporters against potential risks,he added. All exporters should now pay attention to the global economic trends and become more cautious as well as take informed business decisions, he said.

According to Rukadikar,export organisations of various countries are regularly exchanging information with India,and based on this information,ECGC is advising that exports to which country has what potential risk weightage.

ECGC keeps a list of defaulting parties and regularly displays it on its website. Exporters should go through such a list before making any deal,he said.

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