ECGC to open branch in Bhadohi in next fiscal

Varanasi, Oct 10 (UNI) In order to give a fillip to the exports of carpets in the region, the Export Credit Guarantee Corporation of India Limited (ECGC) today said it will open a branch in the neighbouring Bhadohi district in the next financial year.

Exporters of carpets are at present being to catered by the Varanasi branch. The new branch the ECGC now plans to open in Bhadohi in the next fiscal, will better serve the carpet exporters, ECGC Executive Director S Prabhakaran told reporters here.

Mr Prabhakaran, however, clarified that the opening of a branch in Bhadohi will not affect the viability of the Varanasi branch.

The ED further said that ECGC, which for 45 years provided only one product to the exporters, had during the last five years diversified into 14 credit guarantee products by making norms more flexible. The new products are aimed at adding exclusive cover for software exporters, IT enabled services and consignment export cover, he added.

Besides, two other insurance covers were designed on exposure based policies, including single buyer and multiple buyer exposure policies.

Mr Prabhakaran also informed that apart from increasing options for exporters, the ECGC was also emphasising on spreading its network via new branches at export hotspots. A website has also been launched to allow the exporters to avail individualised services, he added.

Later in the evening, Mr Prabhakaran also met exporters of the region to discuss their changing business requirements.

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