WT-ECIB scheme to benefit 1,000 new small exporters

The Export Credit Guarantee Corporation of India (ECGC), plans to reduce the export credit gap through the WT-ECIB scheme, which is expected to assist about 1,000 new small exporters, in addition to the existing 8,000.  The Commerce Ministry, in its 2024 year-end review highlighted that the ECGC has extended the scope of its Whole Turnover Export Credit Insurance for Banks (WT-ECIB) scheme to export credit working capital limits up to Rs 80 crore with effect from July 1.

The ECGC is working to bridge the export credit gap through the WT-ECIB scheme, which is set to benefit approximately 1,000 new small exporters in addition to the existing 8,000, by ensuring access to affordable export finance from banks for working capital, according to an official statement.

In its 2024 year-end review, the Commerce Ministry highlighted that the Export Credit Guarantee Corporation of India (ECGC) expanded the scope of its Whole Turnover Export Credit Insurance for Banks (WT-ECIB) scheme to include export credit working capital limits of up to ₹80 crore, effective July 1.

The Ministry also noted progress in the India-Sri Lanka Economic and Technology Cooperation Agreement (ETCA), with the 14th round of negotiations concluded in July. Negotiations on most chapters, including services and Rules of Origin, have been finalized, except for specific garment-related lines under the goods track.

India is strategically utilizing its free trade agreements to bolster services trade by securing market access certainty, non-discriminatory treatment, and a transparent, objective regulatory framework through these partnerships.