ECGC Limited (Formerly Export Credit Guarantee Corporation of India Limited) is a government owned export credit agency of India. It is under the ownership of the Ministry of Commerce and Industry, Government of India, and is headquartered in Mumbai, Maharashtra.[1] It provides export credit insurance support to Indian exporters and banks. Its topmost official is designated as Chairman and Managing Director.
The Government of India had initially set up Export Risks Insurance Corporation (ERIC) in July 1957. It was transformed into Export Credit and Guarantee Corporation Limited (ECGC) in 1964 and to Export Credit Guarantee Corporation of India in 1983.
History
ECGC Ltd., was established on 30 July 1957 to strengthen the export promotion by covering the risk of exporting on credit.[2] It functions under the administrative control of the Department of Commerce, Ministry of Commerce and Industry, Government of India. It is managed by an Asset Management Company comprising representatives of the Government, Reserve Bank of India, banking, insurance and exporting community.