NEW DELHI, Nov 8: Commerce and Industry Minister Nirmala Sitharaman today pitched for adequate headroom to ECGC so as to promote export finance, saying she will raise the issue with the Finance Ministry as well as the Reserve Bank.
Citing an estimate by Asian Development Bank, she said exports from India suffer due to unmet trade finance needs of as much as USD 300 billion.
“We shall take the issues of ECGC with the Finance Ministry to further strengthen it and will also negotiate with RBI so that greater room is given to ECGC because it cannot be too much regulated,” she said here at the Diamond Jubilee celebrations of Export Credit Guarantee Corporation of India (ECGC).
At this crucial time, said Sitharaman, the Government needs to support exporters to explore newer markets. (PTI)
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