This document compares ECGC and its competitors in providing export credit insurance. It discusses the need for export credit insurance to protect exporters against risks. It identifies ECGC's major competitors and compares them across key parameters like risk coverage, exclusions, payment modes, countries covered, coverage percentages, premium calculation, and bank assistance. ECGC provides the most comprehensive risk coverage, covers the most countries, and is the only competitor that provides insurance covers to banks to enable exporters to obtain better financing. However, it also notes ECGC's weakness in communication which could become a threat if not addressed.
Key Takeaways:
Export Promotion Schemes in India
Analysis of WTO' Ruling
Schemes adopted by Member Nations
Alternatives to Export Promotion Schemes
Way forward
Key Takeaways:
Export Promotion Schemes in India
Analysis of WTO' Ruling
Schemes adopted by Member Nations
Alternatives to Export Promotion Schemes
Way forward
Export Credit Guarantee Corporation of India (ECGC) NIKHILESHMODGIL
The ECGC Limited is a government enterprise. It is under the ownership of the Ministry of Commerce and Industry, Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters.
The presentation deals with the Export Credit Guarantee Corporation of India, Includes..
1.Introduction
2.Evolution
3. Roles
4. Functions
5. Present scenario
6. Last 3 years Financial Performance
7. Major Services Offered
8. Strength, Weakness, Opportunities, Threat(SWOT) Analysis
9. Conclusion
LICENCING PROCEDURE FOR EXPORT AND IMPORTAsrar Mohd
INTRODUCTION
Setting-up an export business requires basic documentation such as a Permanent Account Number (PAN card), Importer Exporter Code (IEC) from DGFT office and opening a bank account.
Other key factors include knowledge of trading systems, FTP and Industrial Policy, access to market information, ensuring product quality and compliance with export procedures & documentation.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the provisions relating to import and export of goods under the customs law.
The success of export promotions can be judged from the growth of exports and the dynamism of the export sector. An effective export promotion should compensate for the disadvantages of the national exporters and should make the export business profitable enough to lure entrepreneurs to this sector.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
Export Credit Guarantee Corporation of India (ECGC) NIKHILESHMODGIL
The ECGC Limited is a government enterprise. It is under the ownership of the Ministry of Commerce and Industry, Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters.
The presentation deals with the Export Credit Guarantee Corporation of India, Includes..
1.Introduction
2.Evolution
3. Roles
4. Functions
5. Present scenario
6. Last 3 years Financial Performance
7. Major Services Offered
8. Strength, Weakness, Opportunities, Threat(SWOT) Analysis
9. Conclusion
LICENCING PROCEDURE FOR EXPORT AND IMPORTAsrar Mohd
INTRODUCTION
Setting-up an export business requires basic documentation such as a Permanent Account Number (PAN card), Importer Exporter Code (IEC) from DGFT office and opening a bank account.
Other key factors include knowledge of trading systems, FTP and Industrial Policy, access to market information, ensuring product quality and compliance with export procedures & documentation.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the provisions relating to import and export of goods under the customs law.
The success of export promotions can be judged from the growth of exports and the dynamism of the export sector. An effective export promotion should compensate for the disadvantages of the national exporters and should make the export business profitable enough to lure entrepreneurs to this sector.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
Export Credit Guarantee Corporation of IndiaIsha Joshi
Export Credit Guarantee Corporation of India Ltd. ( ECGC ) is a Government of India Enterprise which provides export credit insurance facilities to exporters and banks in India. It functions under the administrative control of Ministry of Commerce & Industry, and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking , insurance and exporting community. Over the years, it has evolved various export credit risk insurance products to suit the requirements of Indian exporters and commercial banks. ECGC is the seventh largest credit insurer of the world in terms of coverage of national exports. The present paid up capital of the Company is Rs. 1200 Crores and the authorized capital is Rs. 5000 Crores.
ECGC is essentially an export promotion organization, seeking to improve the competitive capacity of Indian exporters by giving them credit insurance covers comparable to those available to their competitors from most other countries. It keeps its premium rates at the lowest level possible.
MIA and ECGE were formed to cover the commercial, political and credit risks of exporters. There are several maritime perils that are often encountered while exporting. They include perils of the sea, fire, men-of-war and enemies, pirates rovers and thieves,jettison, letters of mart and countermart, capture at sea and Barratry.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
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2. Introduction:-
In an export trade, exporters needs the finance
at different stages. The finance is required for
processing, manufacturing, assembling, procuri
ng and packing the goods for export in the pre-
shipment stages & During the intervening period
between the shipment of goods and the receipt
of payment post-shipment credit is required by
the exporters at post shipment stages.
3. Need of export credit insurance:-
The export credit plays a very important role in
the International trade system. In developed and
developing countries, it has been a tool for
pushing exports of manufactured and capital
goods, as well as some specific services. Due to
higher risk in International market, credit
insurance becomes important. Export credit
insurance protects exporters against the risk of
non-payments by the foreign buyers.
4. LIST OF THE MAJOR COMPANIES
PROVIDING EXPORT CREDIT
INSURANCE:-
Public sector:
i.) ECGC
ii.) New India Assurance
iii.) SBI general insurance
Private sector:
i.) ICICI Lombard
ii.) IFFCO-Tokio
5. INTRODUCTION OF EXPORT CREDIT
GUARANTEE CORPORATION:-
ECGC ( Export Credit Guarantee Corporation) of
India Ltd, was established in July, 1957. It
functions under the administrative control of the
Ministry of Commerce & Industry and
Government of India. It is managed by a
Board of Directors comprising representatives
of the Government, Reserve Bank of India. Its
headquarter is in Mumbai, Maharashtra.
6. Objectives:-
To promote export mainly by
i.) Protecting Exporters against COMMERCIAL &
POLITICAL RISKS in export proceeds
ii.) Protecting Banks against RISK OF DEFAULT in
export credit.
iii.) To facilitate availability of adequate bank finance to
the Indian exporters by providing insurance cover for
banker in the form of guarantee at competitive rate.
7. COMPETITORS OF ECGC:-
In the Indian market the competitors of ECGC are
PUBLIC SECTOR:-
i.) New India Assurance
ii.) SBI General Insurance
PRIVATE SECTOR:-
i.) ICICI Lombard
ii.) IFFCO-Tokyo
8. Comparison through different
parameters:-
i.)Risk coverage by companies
ii.)Risk exemptions
iii.)Transactions modes
iv.)Countries coverage
v.)Exporters Reach
vi.)Claims
vii.)Bank loan assistance to exporters
viii.)Premium Calculation
10. Basis of
difference
ECGC SBI-
GENERAL
ICICI-
Lombard
IFFCO-
TOKIO
New India
Assurance
Restriction
by Govt. COVERED
COVERED COVERED COVERED COVERED
Non-
payment due
to war
COVERED COVERED COVERED COVERED COVERED
Cancellation
of import
license
COVERED COVERED COVERED COVERED COVERED
Delay in
payment
COVERED NOT
COVERED
NOT
COVERED
COVERED COVERED
Diversion of
Voyage
COVERED NOT
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
Natural
disaster
NOT
COVERED
NOT
COVERED
NOT
COVERED
COVERED NOT
COVERED
12. Basis of
difference
ECGC SBI
General
ICICI-
Lombard
IFFCO-
Tokio
New India
Assurance
Exchange rate
fluctuation
NOT
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
Loss of goods NOT
COVERED
COVERED NOT
COVERED
NOT
COVERED
NOT
COVERED
Trade dispute NOT-
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
Default and
insolvency
COVERED COVERED NOT
COVERED
NOT
COVERED
NOT
COVERED
Delay in
payment
COVERED NOT
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
Non –
payment
NOT
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
NOT
COVERED
Non- COVERED NOT NOT NOT NOT
21. Bank assistance:-
ECGC provides export credit insurance covers
to the banks and financial institutions to enables
the exporters to obtain better facilities from
them i.e. from banks which is formally known as
guarantee.
No other competitor of the ECGC
provides export credit insurance cover to the
banks.
22. SWOT Analysis:-
SWOT analysis of ECGC is as under :
i.) Strength :-
a.) Maximum country coverage.
b.) Maximum coverage from risk.
ii.) Weakness:-
a.) Communication gap
iii.) Opportunities:-
a.) In the sector of factoring
iv.) Threats:-
a.) Weakness will become threat.