National Export Insurance Account to be set up: Jairam

New Delhi, Mar 14 (UNI) The government has decided to establish a National Export Insurance Account( NEIA) with a view to enhance Indian exports, the Lok Sabha was informed today.

Minister of State for Commerce and Industry Jairam Ramesh said in a written reply that the NEIA would be maintained and operated by a public trust constituted by the Department of Commerce and the Export Credit Guarantee Corportion of India.

A Committee of Directors, constituted under the ministry was the competent authority to approve the projects under the scheme, the Minister said.

The objective of the scheme was also to ensure the availability of credit risk cover for medium and long term high-value projects, which were commercially viable and desirable from the national interest point of view, he added.

UNI KSA RP DS1326