Thrust on trade cover
A global trade battered by the coronavirus pandemic would call for credit accommodation and credit insurers taking high risks, a top official of India’s export credit guarantee organisation said.
The working capital cycle of most business units have been impacted. ECGC will be playing a counter cyclical role. ECGC recognises that the situation calls for some credit accommodation and credit insurers need to take high risks, M. Senthilnathan, chairman and MD of Export Credit Guarantee Corporation of India, said.
Participating in a digital session organised by the CII, Sanjay Budhia, chairman of the CII national committee on EXIM, said: “In these trying times... there is a need to increase the flow of bank credit to the export sector and timely settlement of claims.”