85% of total support from Govt Credit Agency given to MSME exporters: Commerce Secy

New Delhi, Aug 11 (KNN) Highlighting the performance of the Government owned export credit agency ECGC, Commerce Secretary Rita Teaotia informed that 85 per cent of its net support has been to the exporters from the Micro, Small and Medium Enterprises (MSME) sector.

Teaotia informed that ECGC supported total exports of 2,65,000 crore rupees, out of which 85 per cent accounted as support to the MSME sector in the country.

She further informed that despite the reduction in the ECGC premium rates by an average of 17 per cent under policies, the organization suffered only a marginal decline in premium of less than 4 per cent.

Citing figures, the Commerce Secretary added that the ECGC has registered Profit Before tax of over 407 crore rupees, which is 5 per cent more than that of the previous fiscal.

Also with the current figures the organization has a dividend of Rs 72.5 crores at the rate of 5 Rs per share.

Listing the performance of ECGC, Teaotia added that ECGC has over 4,00,000 Overseas Buyers on record of which more than 1,20,000 buyers are regular and active buyers for Indian exporters. The cumulative exposure on these active buyers is over Rs.1, 25,000 Crores for Indian exporters.

The Department maintains an active management of exposures on these buyers by a strong data base. ECGC also supports diversification of exports to Focus Markets identified by Department of Commerce by favourably rating such countries to enable coverage of exports at a very competitive rate, the Secretary added. (With PIB Inputs) (KNN/ DA)